What is it like buying a house in Balmullo?

by | Nov 15, 2022

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

As a landlord, whenever you are looking at houses for sale in Fife, you could find varying prices throughout an area like Balmullo. In this article, this data will be simplified so you can find all of the data on one, convenient page.

So, from the rental yield of Balmullo to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Balmullo will be revealed. Keep reading.

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

In Balmullo, how has the number of houses changed?

The growth of an area like Balmullo 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
Balmullo growth rate 12% 31% 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 Balmullo 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 Balmullo to Fife and the broader suburb of the UK; Scotland.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Balmullo no relevant data for this city no relevant data for this city no relevant data for this city 38.0%
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 Balmullo for profit in the future, in this case, looking at the data for the number of houses sold per month in Balmullo would give you an idea of whether the area is actively getting new investors. This figure is 20.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Balmullo. 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 asking prices for the houses for sale in the city of Balmullo?

Average price of houses for sale in Balmullo

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £265,700
Average asking price (3 bed) £272,202
Average asking price (4 bed) no relevant data for this city
Average asking price (5 bed) no relevant data for this city

Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in Balmullo and if you may need to look at a different area in order to buy the type of house you can afford.

Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.

When speaking about the city of Balmullo, £298,887 is the asking price for a house for sale.

We have compiled a table of data so you can know the asking prices of the specific size of home you’re most interested in. As you can imagine, a family looking to move out with children would be after a larger house than someone living alone in Balmullo.

The data is in fact very different compared to the number of rooms you’re interested in having in your home and the asking price also tends to go up in staggering amounts as you add rooms.

In general, for the city of Balmullo, what are the final purchase prices for the houses for sale?

As well as looking at the asking price for house for sale in Balmullo, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Balmullo.

Houses for sale, are sold on average in Balmullo, after the influence of these factors, at £310,917 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 3% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £376,016
Aerage sold price (semi-detached) £255,111
Aerage sold price (terraced) £249,186
Aerage sold price (flat) £294,544

This table above shows the average sale price for each variation of houses for sale in Balmullo.

Housing category Sale price per square foot
Aerage sold price/sqft £2,670
Aerage sold price/sqft (new build) £2,510
Aerage sold price/sqft (old stock) £2,660

This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Balmullo is £2,670.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

In Balmullo, what are the demographics like?

In Balmullo, what is the social grade score?

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 Balmullo 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.

In general, do people commit a lot of crime in Balmullo?

In Balmullo, for every 1000 people, there is currently a crime rate of no relevant data for this city. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (no relevant data for this city for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

In the city of Balmullo, 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 Balmullo currently has 89.3 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 Balmullo in this case.

How educated are the people in Balmullo?

In the city of Balmullo, 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 Balmullo 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 Balmullo, what are the deprivation levels like?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Balmullo is no relevant data for this city.

The city of Balmullo, 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 Balmullo 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 Balmullo. So, taking a good look at the data is essential to understand the area you are considering to buy in.

How much are those living in Balmullo earning?

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 Balmullo this figure is no relevant data for this city.

Have the people of Balmullo grown in numbers?

The city of Balmullo has a total population of 24,837. 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 Balmullo 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 Balmullo

Over time, in the last five years, the population of the city of Balmullo has changed by 2%. 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 2% 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 Balmullo?

In the last 10 years, there has been a shift in the population of 3%.

Comparing this to the 5 year figure of Balmullo 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.