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Bankend – What to look for in houses for sale?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Scotland $ Bankend – What to look for in houses for sale?

Whenever looking for a house for sale in the UK or in Bankend, it is vital you look at the market trends and house price fluctuations in the wider area of Dumfries and Galloway too. House prices of houses for sale can change even among different streets very close to each other so, as a landlord, it would be a good idea to be familiar with the area of Bankend.

In this article, we will be looking at the city of Bankend in detail so you know how to navigate the area and have a better understanding on where to invest.

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

Average asking prices for houses for sale in Bankend

Average asking price (1 bed) no relevant data for this city
Average asking price (2 bed) £102,474
Average asking price (3 bed) £177,031
Average asking price (4 bed) £283,653
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 Bankend is £0. This should show you the general prices overall and for individual types of houses too.

On average, in Bankend, the asking price for a house for sale in the area is £170,260.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Bankend. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

Are there any important statistics about the population of Bankend?

Bankend within Dumfries and Galloway is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Bankend will be looked at by comparing it to the local region, as well as comparing it to the wider region too (Scotland). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Bankend.

In the city of Bankend, has the population grown or shrunk?

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 Bankend is 26,655.

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 Bankend.

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

In the last five years, over time, the change in population size was -1%. 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 Bankend 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 (-1%) 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.

Bankend population difference over 10 years?

The population has adjusted in the area of Bankend by -2% 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 Bankend.

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.

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

In the city of Bankend, the social grade score of the area is no relevant data for this city. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.

The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.

This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of Bankend.

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 Bankend, how much green space remains for residents?

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 Bankend currently has 13.9 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 Bankend in this case.

What is the education level like in Bankend?

In Bankend, 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 Bankend 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.

Are the people in Bankend earning a lot?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (no relevant data for this city). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Bankend, this works out to be no relevant data for this city. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

Are the deprivation levels of the UK any different to Bankend?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Bankend is no relevant data for this city and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

What’s crime like in Bankend?

For the city of Bankend, crime rate is at no relevant data for this city. So for every 1000 people in the area, no relevant data for this city commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

Why you should consider the average rental yield when searching for houses for sale in Bankend

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look in to all the details of Bankend.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Dumfries and Galloway) as well as the broader region; Scotland.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Bankend no relevant data for this city no relevant data for this city no relevant data for this city 45.0%
Dumfries and Galloway no relevant data for this city no relevant data for this city no relevant data for this city 44.07%
Scotland 5.48% £871 125.36% 59.40%

Also, you can compare other data to the table above such as the number of houses sold per month in Bankend which is 34 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Bankend is to invest in. Both in terms of rental yield and capital appreciation.

Are there more or fewer houses being built in Bankend?

Before making an investment and move forward with buying a house for sale, another important set of data an investor should analyse is the growth trends of the area in question.

Below are the forecasted growth rates for the city of Bankend at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Bankend growth rate 24% 22% no relevant data for this city

Examine this figure carefully as the addition of a lot of new houses to meet demand could mean that house price of the houses for sale in Bankend gradually reduces with an increase in the housing supply. This could be a good indicator to understand if your house will appreciate or not. Too many houses and too much supply could drive down the prices of homes or stagnate them. So be sure to check out what is exactly happening in Bankend.

In general, what do houses for sale sell for in Bankend?

For the city of Bankend, the average price a house sells for is £137,388. This value usually depends on the exact location of the house within Bankend as well as other factors like the population growth in Bankend which is -2% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £204,930
Aerage sold price (semi-detached) £130,218
Aerage sold price (terraced) £111,506
Aerage sold price (flat) £71,879

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 Bankend.

Housing category Sale price per square foot
Aerage sold price/sqft £1,530
Aerage sold price/sqft (new build) £1,310
Aerage sold price/sqft (old stock) £1,550

Generalising the bottom table, the average value per square foot of a house for sale is £1,530. This value averages all of the types of houses for sale in Bankend. 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 Bankend.

Advice from experts on properties for sale in Bankend

houses for sale in other cities in the UK

Below are a list of towns with a similar location to Bankend.
Reading these analysis will help you evaluate the different houses for sale currently listed in Scotland:

If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.

Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.

Find here a list of those that can help when buying a house for sale:

  • Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
  • Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
  • Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
  • Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
  • Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
  • EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial

Invest in a house for sale that meets your demands

When browsing houses for sale in Bankend 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 – 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

  • 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.

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