Bankshill 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 Bankshill.
On top of this, keep reading for detailed information on the demographics of Bankshill in Dumfries and Galloway. 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.
How are rental yields of the houses for sale different to the rest of the UK in Bankshill?
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Bankshill. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Bankshill.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (Dumfries and Galloway), a regional level (Scotland) and finally on the level of the city talked about in this article, Bankshill.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Bankshill||no relevant data for this city||no relevant data for this city||no relevant data for this city||30.0%|
|Dumfries and Galloway||no relevant data for this city||no relevant data for this city||no relevant data for this city||44.07%|
You may also find it useful to compare the data above to the number of properties sold per month Bankshill experiences. This figure for house sales per month is 11. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
In Bankshill, how has the number of houses changed?
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 Bankshill at 1 year, 3 year and 5 year intervals:
|1 year||3 years||5 years|
|Bankshill growth rate||1%||5%||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 Bankshill 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 Bankshill.
In general, what do houses for sale sell for in Bankshill?
As well as looking at the asking price for house for sale in Bankshill, 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 Bankshill.
Houses for sale, are sold on average in Bankshill, after the influence of these factors, at £149,484 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 -2% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£194,205|
|Aerage sold price (semi-detached)||£143,667|
|Aerage sold price (terraced)||£100,291|
|Aerage sold price (flat)||£68,057|
This table above shows the average sale price for each variation of houses for sale in Bankshill.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,310|
|Aerage sold price/sqft (new build)||£1,210|
|Aerage sold price/sqft (old stock)||£1,310|
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 Bankshill is £1,310.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
On average, what is the figure for the asking price of a house for sale in Bankshill?
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 Bankshill is £225,933.
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 Bankshill is useful when negotiating and knowing what to expect for every type of house for sale.
In the city of Bankshill, 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)||£214,500|
|Average asking price (4 bed)||no relevant data for this city|
|Average asking price (5 bed)||no relevant data for this city|
The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £0. Telling you what type of house is most in demand relative to the price of the area.
This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Bankshill has a lack of supply of housing in certain categories.
What are the people like in Bankshill?
Are the people of Bankshill deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Bankshill, 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.
The city of Bankshill, situated in Dumfries and Galloway, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Bankshill 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 Bankshill. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What’s a social grade score and how does it relate to Bankshill?
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 Bankshill 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 Bankshill, 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 general, do people commit a lot of crime in Bankshill?
In Bankshill, 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 Bankshill, has the population grown or shrunk?
In total, the number of people in Bankshill is 13,272. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.
Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.
You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Bankshill, depending on where exactly you are.
How has Bankshill changed in the past five years?
Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Bankshill has changed by -1%. Read more here
It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if -1% is a recent change or not.
Click here to know more on the UK population trends.
In the last decade, what is the difference in population in Bankshill?
-2% has been the population growth change in the past 10 years.
Usually, this is more of a conservative figure compared to the five year change of a city.
Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.
The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Bankshill have seen a more desirable way of working, moving to make themselves more comfortable in their careers.
For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.
Is the education level of Bankshill important when buying a house?
In Bankshill, 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 Bankshill 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.
In the city of Bankshill, how much green space remains for residents?
Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.
In Bankshill, 27.5 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Bankshill.
Are the people in Bankshill 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 Bankshill, 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.
Invest in houses for sale in Bankshill with the right professional advice
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 Bankshill 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.
Thinking about other cities with houses for sale?
See here below a list of cities in the same UK region of Bankshill which is Scotland. You might want to consider these as alternatives for your next real estate investment:
- Auchterderran in Scotland
- Crookston in Scotland
- Dundee in Scotland
- Crosshouse in Scotland
- Dollar in Scotland
Or, visit our dedicated page on the houses for sale data for the whole of the UK – houses for sale in the UK.