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How much will you pay for a house for sale in Balnamoon?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Scotland $ How much will you pay for a house for sale in Balnamoon?

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Balnamoon 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 Aberdeenshire.
Before looking for a house for sale in the city of Balnamoon 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 Balnamoon.

In Balnamoon, what are the demographics like?

What’s the crime rate in Balnamoon?

In Balnamoon, 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.

Have the people of Balnamoon grown in numbers?

The city of Balnamoon has a total population of 10979. 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 Balnamoon 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 Balnamoon

Over time, in the last five years, the population of the city of Balnamoon has changed by -1%. 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 -1% 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 Balnamoon?

In the last 10 years, there has been a shift in the population of 1%.

Comparing this to the 5 year figure of Balnamoon 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.

What salary does the community in Balnamoon take home?

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 Balnamoon this figure is no relevant data for this city.

In the city of Balnamoon, 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 Aberdeenshire for example.

These demographics for Balnamoon 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 Balnamoon in Scotland.

Is there sufficient green space in Balnamoon?

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 Balnamoon, the city has 33 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 Balnamoon.

In Balnamoon, what is the social grade score?

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 Balnamoon, 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).

Are the people of Balnamoon deprived?

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 Balnamoon, 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.

Is the education level of Balnamoon important when buying a house?

In the city of Balnamoon, 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 Balnamoon 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%.

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

Are there more or fewer houses being built in Balnamoon?

The growth of an area like Balnamoon 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
Balnamoon growth rate -13% 9% 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 Balnamoon if you want to find out the exact reasons for the housing change.

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Balnamoon, 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 and how much you can charge for rent in your ast (assured tenancy shorthold).

Finding the ideal house for sale for you

When browsing houses for sale in Balnamoon you should think about lots of different criteria:

  • House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)

  • Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.

  • House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.

  • Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future

  • energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.

  • Internet speed in the area of the house for sale – it is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale. Especially if you are renting the property as this will impact your business costs. Whether that be in an excluded tenancy agreement or a more common, assured shorthold tenancy.

  • Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?

  • Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.

  • Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.

Professional advice for houses for sale in Balnamoon

In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.

The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:

  • Banks – Lend you the cash
  • Insurance companies – Insure your new real estate investment
  • Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
  • Surveyor – Carries out an independent and complete property valuation of the house for sale
  • Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
  • EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city

What are the asking prices for the houses for sale in the city of Balnamoon?

When speaking about the city of Balnamoon, £200,336 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 in Balnamoon would be after a larger house than someone living alone.

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.

Average prices for the houses for sale in Balnamoon

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) £225,104
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 Balnamoon, 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 general, for the city of Balnamoon, what are the final purchase prices for the houses for sale?

In Balnamoon, the average sale price of a house for sale is in fact £130,582. This is dependent on the 10 year population growth of Balnamoon being 1%. Growing populations are more likely to inflate the prices of houses for sale in the city of Balnamoon.

Housing category Total final sale price
Aerage sold price (detached) £234,832
Aerage sold price (semi-detached) £142,441
Aerage sold price (terraced) £102,001
Aerage sold price (flat) £70,103

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 Balnamoon.

Housing category Sale price per square foot
Aerage sold price/sqft £1,280
Aerage sold price/sqft (new build) £1,110
Aerage sold price/sqft (old stock) £1,290

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 £1,280. This means if you are just looking out the houses sold in Balnamoon in general and didn’t take into consideration the type of build. For example, a new build.

houses for sale in other cities and regions in the UK

If you are looking for a list of cities that are different to the City of Balnamoon and in different UK region to Scotland. You might want to consider these as alternatives for your next real estate investment:

Or, visit our dedicated page on the houses for sale data for the whole of the UK which will allow you to pick based on where you think you want to live or invest – houses for sale in the UK.

F.A.Q.

Do properties in Balnamoon offer renovation potential?

If planning permissions are abundant in the vicinity of Balnamoon, it may look promising for landlords looking to renovate. With no relevant data for this city getting approved on a monthly basis, and a success rate of no relevant data for this city, these prospects flourish against a population of 10979. A comparative analysis against other locations across the UK will lend you a good perspective of this data.

What’s the number of property sales each month in Balnamoon?

In Balnamoon, the monthly property transaction count reaches no relevant data for this city, a small percentage of the total house sales in the United Kingdom which equates to approximately 1.1 million.

What’s the year-over-year population change in Balnamoon or similar cities?

To assess the shifts in Balnamoon’s population over time, analyse how the population has altered. Look at the ten year change of population of 1%, alongside the five-year change of -1%.

prices for houses on sale in the broader vicinity of Balnamoon?

In Balnamoon, the mean asking price per square foot for a house is currently £0, based on the average value per square foot

Is a house for sale in Balnamoon an expensive choice?

Determine whether a property is expensive by comparing a list of houses for sale to the prevailing average selling prices. In Balnamoon, this figure stands at £130,582, while the UK average is £286,500.

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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