What is it like buying a house in Balgonar?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Scotland $ What is it like buying a house in Balgonar?

Balgonar 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 Balgonar.

On top of this, keep reading for detailed information on the demographics of Balgonar in Fife. This is crucial in finding out if the area is worth for looking at houses for sale in the UK for an investment over the long term too.

Always consider average rental yield when searching for houses for sale in Balgonar

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 Balgonar, 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 Fife, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Balgonar no relevant data for this city no relevant data for this city no relevant data for this city 67.0%
Fife 3.80% £564 no relevant data for this city 63.00%
Scotland 5.48% £871 125.36% 59.40%

Assuming that in the future you want to re-sell the house you will eventually purchased in Balgonar you might be interested in the number of sales per month (64) that happen in the local housing market. Comparing this figure for Balgonar with the above table gives you a good understanding of the profitability of the area.

What is the growth in the housing market of Balgonar?

The growth of an area like Balgonar can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Balgonar growth rate 14% 6% -11%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Balgonar if you want to find out the exact reasons for the housing change.

What are the demographics like in the city of Balgonar?

What is the population of Balgonar?

In the UK in general and specifically in the region in question, large population sizes can be good indications that there are a lot of people in the area looking for houses for sale which can drive up demand and therefore impact the cost. You should also check to see if the population is growing in the area too to show an increasing demand, this is even better. Currently, the total population of Balgonar is 39,117.

Sometimes, smaller populations can have higher buyer demand than large populations on the other hand. This is because the price of houses and hence the demand for houses is based on a variety of variables.

The most important variable is the location of the houses for sale in the city of Balgonar.

In Balgonar, how has the population changed over the last five years?

In the last five years, over time, the change in population size was 2%. Looking at this figure can inform you of the buyer demand for the houses for sale in the area. Read more here

This may mean that the city has now started to slow down in terms of population growth or it may mean the city is also building a lot of houses which would indicate the supply of houses for sale will be matching the demand.

Making predictions about the future growth of Balgonar is hence important in making a decision if capital appreciation of your real estate investment is something you’re after as a landlord.

Comparing this figure for the 5 year growth (2%) as well as the ten year growth in the subheading below should allow you to make some accurate forecasts on the growth rate. Click here to know more on the UK population trends.

Balgonar population difference over 10 years?

The population has adjusted in the area of Balgonar by 3% in the most recent decade. This change is even more useful when compared alongside the figure for the five year growth of the area too.

This will tell you if the population is changing at the moment or if change is more recent. Through this a landlord can accurately look at the fluctuations in population size of the area over time and therefore better understand the trend of the houses for sale in Balgonar.

To make an example, the town of Salford which is a part of Manchester has seen a 10% increase in population. house price has therefore followed.

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

In Balgonar, 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 Balgonar 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.

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

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 Balgonar 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 Balgonar, 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

In the city of Balgonar, is there a lot of green space?

Whether you view green space in Balgonar 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 Balgonar, the number of acres of green space for every 1000 people currently is 30.7 which can be measured against the UK average of 1.7.

In the city of Balgonar, the demographics are unique and must be looked at by themself to make a conclusion about the area before buying a house. This is because the growth could be greatly different to the wider area of Fife for example.

These demographics for Balgonar may impact the price of a house, how this house grows over time and the profitability of a house if you are buying it for an investment so knowing the area is crucial for a landlord making a purchasing decision in the city of Balgonar in Scotland.

Are the people in Balgonar earning a lot?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Balgonar. Compare the area’s average household income of no relevant data for this city to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at no relevant data for this city for more conclusive data on the affluence of the area.

What’s crime like in Balgonar?

For every one thousand people living in Balgonar, 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.

Are the people of Balgonar 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 Balgonar should give you a nice idea of the deprivation in the area.

What is the final sale price of a house in Balgonar?

In Balgonar, the average sale price of a house for sale is in fact £144,716. This is dependent on the 10 year population growth of Balgonar being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Balgonar.

Housing category Total final sale price
Aerage sold price (detached) £245,950
Aerage sold price (semi-detached) £158,328
Aerage sold price (terraced) £126,252
Aerage sold price (flat) £87,766

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 Balgonar.

Housing category Sale price per square foot
Aerage sold price/sqft £1,660
Aerage sold price/sqft (new build) £1,490
Aerage sold price/sqft (old stock) £1,660

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 £1,870. This means if you are just looking out the houses sold in Balgonar in general and didn’t take into consideration the type of build. For example, a new build.

Asking price in Balgonar for a house for sale

When investors make offers for houses for sale in Balgonar, the average price asked by the homeowners works out to be £178,537.

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

Average asking price (1 bed) £80,206
Average asking price (2 bed) £125,131
Average asking price (3 bed) £209,435
Average asking price (4 bed) £317,384
Average asking price (5 bed) no relevant data for this city

The tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Balgonar is £2,080. This should show you the general prices overall and for individual types of houses too.