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How much does a house for sale cost in Inverness?

by | Nov 15, 2022

Home $ House for sale in the UK $ How much does a house for sale cost in Inverness?

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As a landlord, whenever you are looking at houses for sale in Scottish Highlands, you could find varying prices throughout an area like Inverness. In this article, this data will be simplified so you can find all of the data on one, convenient page.

So, from the rental yield of Inverness to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Inverness will be revealed. Keep reading.

What is the asking price on average of houses for sale in Inverness?

The average asking price for the houses for sale in the city of Inverness

Average asking price (1 bed) £107,154
Average asking price (2 bed) £151,554
Average asking price (3 bed) £210,412
Average asking price (4 bed) £330,905
Average asking price (5 bed) £429,454

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off, the average asking price for the house for sale in the whole of Inverness is £118. This should show you the general prices overall and for individual types of houses too.

On average, in Inverness, the asking price for a house for sale in the area is £222,306.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Inverness. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

Who can help you buy a house for sale in Inverness?

Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.

Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.

Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:

  • Lender – This practitioner can lend you money to finalise a house purchase
  • Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
  • Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
  • Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
  • Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
  • Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase

Why you should consider the average rental yield when searching for houses for sale in Inverness

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Inverness, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Scotland. As well as Scottish Highlands, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Inverness £0 £738 £1 £0
Scottish Highlands 3.80% £738.00 101.00% 35.37%
Scotland 0.05 871.42 £1 59.40%

Assuming that in the future you want to re-sell the house you will eventually purchased in Inverness you might be interested in the number of sales per month (no relevant data for this city) that happen in the local housing market. Comparing this figure for Inverness with the above table gives you a good understanding of the profitability of the area.

In Inverness, how has the number of houses changed?

Before committing to Inverness to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

1 year 3 years 5 years
Inverness growth rate 2% 17% no relevant data for this city

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Inverness is building housing to find your answer.

Choose the right house for sale that suits your needs

Many criteria impact the price of houses for sale in Inverness.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.

  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying

  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom

  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.

  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale

  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance

  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

In general, what do houses for sale sell for in Inverness?

As well as looking at the asking price for house for sale in Inverness, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Inverness.

Houses for sale, are sold on average in Inverness, after the influence of these factors, at £182,070 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 2% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £229,106
Aerage sold price (semi-detached) £153,292
Aerage sold price (terraced) £132,786
Aerage sold price (flat) £127,958

This table above shows the average sale price for each variation of houses for sale in Inverness.

Housing category Sale price per square foot
Aerage sold price/sqft £1,553
Aerage sold price/sqft (new build) £1,588
Aerage sold price/sqft (old stock) £1,711

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Inverness is £1,559.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Are you considering other cities with houses for sale?

You can consult our list below that goes over a list of cities not necessarily in Scotland, allowing you to find similar places to Inverness:

You may also refer to our webpage specific to UK houses for sale to get an overview of the large number of cities in the area, houses for sale in the UK

What kind of demographics does the city of Inverness have?

Is the city of Inverness deprived?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Inverness, in particular, the deprivation levels are £0.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

How much are those living in Inverness earning?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

no relevant data for this city is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is no relevant data for this city for Inverness.

What’s the crime rate in Inverness?

For the city of Inverness, crime rate is at 400%. So for every 1000 people in the area, 400% commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

Have the people of Inverness grown in numbers?

In total, the number of people in Inverness is 143858. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Inverness, depending on where exactly you are.

How has Inverness changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Inverness has changed by 1%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 1% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Inverness?

2% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Inverness have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

What is a social grade score and how does this relate to Inverness?

Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Inverness compare?

At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.

In Inverness, the percentage of people who work in the two highest skilled categories of this scale (A and B) is no relevant data for this city.

So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.

Social Score Category The proportion of the UK population (%)
A Professional, managerial or administrative 4
B Intermediate managerial or professional jobs 23
C1 Supervisory, junior managerial or professional jobs 29
C2 Skilled manual workers 21
D Semi and unskilled manual workers 15
E State pensioners, casual & lowest grade workers 8

Inverness in the county of Scottish Highlands is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Inverness is located in; Scotland.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Inverness, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.

For the city of Inverness, what is the education level?

In the city of Inverness, 25% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Inverness is no relevant data for this city.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

How much green space is available to residents of Inverness?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Inverness, 31 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Inverness.

FAQ (Frequently Asked Questions)

Do properties in Inverness have the potential for renovation?

Inverness is likely to be a great place for revamping property if there is a lot of greenlit planning permission. The are no relevant data for this city each month, attaining a success rate of no relevant data for this city and a total population of 143858. You can find out if this is above or below similar areas in the UK by comparing it to a nearby place

In Inverness, how many property sales per month are there?

In Inverness, the monthly property transaction count reaches no relevant data for this city, a small percentage of the total house sales in the United Kingdom which equates to approximately 1.1 million.

In a city like Inverness, what’s the yearly fluctuation in population?

Calculating the evolution of Inverness’s population requires an examination of the population transformation over a decade, amounting to 2%, and the five-year adjustment at 1%. By contrasting these values, analyse recent changes in population to attain a thorough understanding of demographic trends and perhaps also look at house for sale data nearby

prices for houses on sale in the broader vicinity of Inverness?

In Inverness, the mean asking price per square foot for a house is currently £118, based on the average value per square foot

Is a house for sale in Inverness an expensive choice?

Determine whether a property is expensive by comparing a list of houses for sale to the prevailing average selling prices. In Inverness, this figure stands at £182,070, while the UK average is £286,500.

Find an estate agent where you’re looking to buy in Inverness

When buying, having the right expertise when navigating Inverness and the property market can be a great advantage. So, don’t make things harder for yourself and tackle a home purchase on your own. Browse our list of reputable estate agents below to help you on your house hunt!

Name of the Agent Phone Number Address Email Address
Scottish Highland Properties 441463357070 11 Queensgate, Inverness, IV1 1DF Phone number only
Anderson Shaw & Gilbert 441463357778 20 Church Street, Inverness, IV1 1ED Phone number only
Munro & Noble 441463357788 47 Church Street, Inverness, IV1 1HX nan
Macandrew and Jenkins 441463357794 5 Drummond Street -Shire, Inverness, IV1 1QF Phone number only
R and R Urquhart llp 441667347971 20 High Street, Nairn, IV12 4AX Phone number only

Download agent details

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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