- 1 We help you find the right agent
- 2 Are there any important statistics about the population of Balerno?
- 3 In Balerno, what do houses for sale tend to sell for?
- 4 What’s the rental yield in general for the city of Balerno?
- 5 What is the asking price on average of houses for sale in Balerno?
- 6 Invest in a house for sale that meets your demands
- 7 Thinking of a different city and perhaps a different location?
- 8 Invest in houses for sale in Balerno with the right professional advice
- 9 Frequently Asked Questions (FAQ)
Balerno can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Balerno.
On top of this, keep reading for detailed information on the demographics of Balerno in Midlothian. This is crucial in finding houses for sale in the UK, that are worth investing in for the long term too.
Are there any important statistics about the population of Balerno?
Is the city of Balerno deprived?
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 do people in Balerno earn?
You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is no relevant data for this city.
This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Balerno this figure is no relevant data for this city.
What is the population of Balerno?
In total, the number of people in Balerno is 39720. 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.
In the city of Balerno, is there a lot of green space?
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 Balerno, 42 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 Balerno.
In general, do people commit a lot of crime in Balerno?
For every one thousand people living in Balerno, no relevant data for this city commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of no relevant data for this city is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
What is the social grade score of Balerno?
The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.
The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits. The number of people in Balerno in grades A or B which are the highest skilled roles in the country is no relevant data for this city.
Realistically, you can expect workers in this category to earn a higher salary too. For comparison, no relevant data for this city is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at no relevant data for this city.
For the city of Balerno, what is the education level?
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.
Located in Midlothian is the city of Balerno, in a large part of the UK; Scotland. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.
Below, the population of Balerno has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.
The knowledge below is based on a lot of different variables relevant to the city of Balerno which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.
In Balerno, what do houses for sale tend to sell for?
In Balerno, the average sale price of a house for sale is in fact £240,538. This is dependent on the 10 year population growth of Balerno being 12%. Growing populations are more likely to inflate the prices of houses for sale in the city of Balerno.
|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 list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in 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|
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £2,910. This means if you are just looking out the houses sold in Balerno in general and didn’t take into consideration the type of build. For example, a new build.
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.
|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||£1|
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 (no relevant data for this city) 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.
Are there new houses being built in Balerno to make it grow?
Before committing to Balerno 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|
|Balerno growth rate||1%||6%||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 Balerno is building housing to find your answer.
What is the asking price on average of houses for sale in Balerno?
Table showing the asking prices for houses for sale in Balerno
|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|
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.
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.
Invest in a house for sale that meets your demands
Many criteria impact the price of houses for sale in Balerno.
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.
Thinking of a different city and perhaps a different location?
We have prepared a list of cities that are entirely dissimilar to the region of Scotland, perfect if you are looking for somewhere similar to Balerno but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:
- bojewyan in Scotland
- dovecot in Scotland
- aspley-guise in Scotland
- east-central-london in Scotland
- bolsover in Scotland
Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.
Invest in houses for sale in Balerno with the right professional advice
Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.
Below, you can find a list of professionals that come in handy when looking for houses for sale:
- Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
- Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
- Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
- Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
- Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
- Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment
Frequently Asked Questions (FAQ)
Do properties in Balerno have the potential for renovation?
Every single month in Balerno, there are no relevant data for this city planning applications, of which nan result in a success. Look at this in terms of the population size of 39720 to work out if you think you’d have good planning success if you were to renovate.
On a monthly basis, how many property transactions take place in Balerno?
In the city of Balerno, there are no relevant data for this city and in the total for the UK, there are around 1.1 million property sales.
What’s the annual population shift in a city such as Balerno?
Calculating the evolution of Balerno’s population requires an examination of the population transformation over a decade, amounting to 12%, and the five-year adjustment at 6%. 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
What is the asking price for houses for sale in the wider region of Balerno?
The average asking price of a house in Balerno is currently £0 based on the average price per square foot.
Is investing in a house for sale in Balerno a financially demanding choice?
Calculate if a property is on the pricier side by matching a listed house for sale against the mean selling prices. In Balerno, this value is £240,538, compared to the UK’s average of £286,500.