What is it like buying a house in Balmerino?

by | Nov 15, 2022

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

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 Balmerino, Fife.

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

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

Is the housing market in Balmerino growing?

The growth of an area like Balmerino 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
Balmerino growth rate 20% 14% no relevant data for this city

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 Balmerino if you want to find out the exact reasons for the housing change.

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Balmerino to Fife and the broader suburb of the UK; Scotland.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Balmerino no relevant data for this city no relevant data for this city no relevant data for this city 71.0%
Fife 3.80% £564 no relevant data for this city 63.00%
Scotland 5.48% £871 125.36% 59.40%

Let’s assume you want to sell the house you’re looking to buy in Balmerino for profit in the future, in this case, looking at the data for the number of houses sold per month in Balmerino would give you an idea of whether the area is actively getting new investors. This figure is 10.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Balmerino. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.

What are the demographics like in the city of Balmerino?

In Balmerino, what is the crime rate?

The crime rate of Balmerino must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of no relevant data for this city, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (no relevant data for this city) is both useful and is recommended to be compared to the average.

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

There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Balmerino currently has 22.9 for every 1000 residents.

Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Balmerino in this case.

In Balmerino, what is the social grade score?

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 Balmerino 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 Balmerino, 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

Have the people of Balmerino grown in numbers?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Balmerino if 9,343 and in the below heading how this population has changed will be broken down.

Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Balmerino such as rental yield or house appreciation.

How has the population size of Balmerino adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Balmerino by 2%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here

To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 2% change has historically occurred before. Click here to know more on the UK population trends.

Over the last 10 years, how has the population size adjusted in Balmerino?

In the last decade, the population of Balmerino has been adjusted by 3%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.

A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.

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

In the below headings, the city of Balmerino 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 Balmerino. So, taking a good look at the data is essential to understand the area you are considering to buy in.

What is the education level like in Balmerino?

In the city of Balmerino, no relevant data for this city 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 Balmerino 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%.

In Balmerino, what are the deprivation levels like?

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 Balmerino, in particular, the deprivation levels are no relevant data for this city.

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

Are the people in Balmerino earning a lot?

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 Balmerino, 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.

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

For the city of Balmerino, the average price a house sells for is £188,468. This value usually depends on the exact location of the house within Balmerino as well as other factors like the population growth in Balmerino which is 3% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £257,626
Aerage sold price (semi-detached) £189,202
Aerage sold price (terraced) £160,095
Aerage sold price (flat) £125,758

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 Balmerino.

Housing category Sale price per square foot
Aerage sold price/sqft £1,820
Aerage sold price/sqft (new build) £1,640
Aerage sold price/sqft (old stock) £1,820

Generalising the bottom table, the average value per square foot of a house for sale is £1,820. This value averages all of the types of houses for sale in Balmerino. 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 Balmerino.

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

As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Balmerino is £218,882.

Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Balmerino is useful when negotiating and knowing what to expect for every type of house for sale.

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

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) no relevant data for this city
Average asking price (3 bed) no relevant data for this city
Average asking price (4 bed) no relevant data for this city
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 Balmerino is £0. This should show you the general prices overall and for individual types of houses too.