fbpx

A guide on houses for sale in Balerno

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Scotland $ A guide on houses for sale in Balerno

Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Balerno, Midlothian.

From the average asking price of houses for sale in Balerno to the growth of the population in the area, all will be talked about regarding the city of Balerno. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

In Balerno, what is the asking price in general for a house for sale?

In the city of Balerno, what is the average asking price for the houses for sale?

Average asking price (1 bed) £152,818
Average asking price (2 bed) £230,050
Average asking price (3 bed) £333,854
Average asking price (4 bed) no relevant data for this city
Average asking price (5 bed) no relevant data for this city

The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £0. Telling you what type of house is most in demand relative to the price of the area.

This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Balerno has a lack of supply of housing in certain categories.

When investors make offers for houses for sale in Balerno, the average price asked by the homeowners works out to be £269,369.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Balerno is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

In Balerno, what are the demographics like?

How much green space is available to residents of Balerno?

Whether you view green space in Balerno as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Balerno, the number of acres of green space for every 1000 people currently is 41.9 which can be measured against the UK average of 1.7.

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

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 Balerno 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 Balerno, 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

What is the population of Balerno?

The city of Balerno has a total population of 39,720. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Balerno is growing.

A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.

Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.

The five year population change of Balerno

Over time, in the last five years, the population of the city of Balerno has changed by 6%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here

In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 6% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.

What is the difference in population over the last 10 years in Balerno?

In the last 10 years, there has been a shift in the population of 12%.

Comparing this to the 5 year figure of Balerno can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.

New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.

A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.

Is the education level of Balerno important when buying a house?

Interestingly, the percentage of people who have a degree in the city of Balerno is no relevant data for this city. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Balerno is no relevant data for this city.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

In Balerno, what are the deprivation levels like?

Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of no relevant data for this city for Balerno should give you a nice idea of the deprivation in the area.

How much are those living in Balerno earning?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (no relevant data for this city). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Balerno, this works out to be no relevant data for this city. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Is the crime rate bad in the city of Balerno?

For the city of Balerno, crime rate is at no relevant data for this city. So for every 1000 people in the area, no relevant data for this city 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.

The city of Balerno, situated in Midlothian, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Balerno and its demographics will be compared to its wider location (Scotland). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Balerno. So, taking a good look at the data is essential to understand the area you are considering to buy in.

How are rental yields of the houses for sale different to the rest of the UK in Balerno?

In Balerno, how has the number of houses changed?

Whenever you are thinking about looking for houses for sale in Balerno, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

1 year 3 years 5 years
Balerno growth rate 1% 6% no relevant data for this city

As the population of Balerno grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Balerno this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (Scotland) alongside Midlothian then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Balerno.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Balerno no relevant data for this city no relevant data for this city no relevant data for this city 53.0%
Midlothian 4.89% £1,194 140.00% 46.89%
Scotland 5.48% £871 125.36% 59.40%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Balerno.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (43) will be useful.

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

For the city of Balerno, the average price a house sells for is £240,538. This value usually depends on the exact location of the house within Balerno as well as other factors like the population growth in Balerno which is 12% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £502,439
Aerage sold price (semi-detached) £289,304
Aerage sold price (terraced) £244,593
Aerage sold price (flat) £169,424

The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Balerno.

Housing category Sale price per square foot
Aerage sold price/sqft £2,910
Aerage sold price/sqft (new build) £2,750
Aerage sold price/sqft (old stock) £2,900

Generalising the bottom table, the average value per square foot of a house for sale is £2,910. This value averages all of the types of houses for sale in Balerno. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Balerno.

Professional advice for houses for sale in Balerno

Invest in a house for sale that meets your demands

Find here below a list of criteria that we suggest you consider before looking for houses for sale in Balerno

  • affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

  • Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.

  • Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.

  • Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.

  • EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.

  • Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase

  • Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?

  • Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.

  • Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

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

Are you considering other cities with houses for sale?

See here below a list of cities in the same UK region of Balerno which is Scotland. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *