A guide on houses for sale in Balerno

Balerno might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of Midlothian.
Before looking for a house for sale in the city of Balerno we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.

In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Balerno.

Asking price in Balerno for a house for sale

On average, in Balerno, the asking price for a house for sale in the area is £269,369.

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 Balerno. 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.

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

After looking at this table about prices of houses for sale in Balerno, someone who is buying a home would have a detailed understanding of what kind of house for sale is available on the market that best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more holistic understanding.

In Balerno, what are the demographics like?

Is there sufficient green space in Balerno?

In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Balerno, the city has 41.9 per 1000 residents.

This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Balerno.

What is the education level like in Balerno?

In Balerno, the proportion of people who have a degree is no relevant data for this city. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Balerno is no relevant data for this city.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

Balerno in the county of Midlothian 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 Balerno 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 Balerno, 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.

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

The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.

The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.

In Balerno, the percentage of people in the two highest categories, A and B is no relevant data for this city. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.

When contrasting these figures, the average household income for the area is no relevant data for this city. This income will generally get bigger as the percentage of people in the A and B categories go up too (no relevant data for this city).

How much are those living in Balerno earning?

By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.

In Balerno, the average income is no relevant data for this city. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.

When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of no relevant data for this city to decide on what the demographics are like in the area.

How deprived is the population of Balerno?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Balerno, currently, no relevant data for this city people fall into this category.

Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.

What does the population of Balerno look like?

In total, the number of people in Balerno is 39,720. 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 Balerno, depending on where exactly you are.

How has Balerno 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 Balerno has changed by 6%. 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 6% 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 Balerno?

12% 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 Balerno 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.

Is the crime rate bad in the city of Balerno?

Within Balerno, the number of people committing crimes is no relevant data for this city per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this no relevant data for this city figure carefully.

Choose the right house for sale that suits your needs

What parameters impact the final price of a house for sale in Balerno?
Here below is our list with the most important ones:

• House for sale affordability – check out the (see house affordability guide)

  on the UK gov website to know more

• House Location – the actual location of a house for sale drastically changes the final price of a property

• Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.

• Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.

• Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.

• Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs

• Do you drive to the office? – If yes, ask about parking. Is it included in the house price?

• Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.

• Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.

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

In Balerno, houses for sale are sold at an average of £240,538. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Balerno. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

As you can see above, for Balerno, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 12% where lots of movement may inflate or deflate house prices.

Looking at the second table about Balerno, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Balerno is £2,910.

What’s the rental yield in general for the city of Balerno?

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 Balerno, 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 Midlothian, to give a smaller scale area to compare the data to.

Assuming that in the future you want to re-sell the house you will eventually purchased in Balerno you might be interested in the number of sales per month (43) that happen in the local housing market. Comparing this figure for Balerno with the above table gives you a good understanding of the profitability of the area.

Is the housing market in Balerno growing?

Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.

Below are the forecasted growth rates for the city of Balerno at 1 year, 3 year and 5 year intervals:

Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Balerno gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Balerno.

Other cities in different locations you can consider to buy property

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

• Bojewyan in Scotland
• Dovecot in Scotland
• Aspley Guise in Scotland
• East Central London in Scotland
• Bolsover in Scotland

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

Advice from experts on properties for sale in Balerno

Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.

Find here a list of those that can help when buying a house for sale:

• Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
• Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
• Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
• Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
• Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
• EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial