What is it like buying a house in Bogside?

by | Nov 15, 2022

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

Bogside 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 North Lanarkshire.
Before looking for a house for sale in the city of Bogside 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 Bogside.

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

In the city of Bogside, 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) £92,162
Average asking price (3 bed) £161,131
Average asking price (4 bed) £226,585
Average asking price (5 bed) no relevant data for this city

Based on this table, hopefully, you will be able to tell what type of house for sale is the most suitable for your budget. You can also consider the average asking price per square foot (£0) for houses for sale with this table to get a good idea as to whether Bogside is the right area to buy a house in for you.

When speaking about the city of Bogside, £124,814 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 Bogside.

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 Bogside, what do houses for sale tend to sell for?

As well as looking at the asking price for house for sale in Bogside, 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 Bogside.

Houses for sale, are sold on average in Bogside, after the influence of these factors, at £95,943 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 1% over the last 10 years.

Housing category Total final sale price
Aerage sold price (detached) £191,734
Aerage sold price (semi-detached) £116,725
Aerage sold price (terraced) £81,445
Aerage sold price (flat) £60,013

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

Housing category Sale price per square foot
Aerage sold price/sqft £1,180
Aerage sold price/sqft (new build) £1,280
Aerage sold price/sqft (old stock) £1,160

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 Bogside is £1,180.

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

Always consider average rental yield when searching for houses for sale in Bogside

In Bogside, 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 Bogside at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Bogside growth rate 1% 13% 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 Bogside 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 Bogside.

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Bogside this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (Scotland) alongside North Lanarkshire then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Bogside.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Bogside 4.8% £500 no relevant data for this city 51.0%
North Lanarkshire 4.70% £634 no relevant data for this city 59.85%
Scotland 5.48% £871 125.36% 59.40%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Bogside.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (45) will be useful.

What kind of demographics does the city of Bogside have?

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

The number of people as a percentage who have been through university and gained a degree is no relevant data for this city. The ability to buy a home is greatly influenced by the number of people who have degrees. no relevant data for this city is the amount people in Bogside are earning.

As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.

As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Bogside, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.

Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.

How much are those living in Bogside earning?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Bogside. Compare the area’s average household income of no relevant data for this city to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at no relevant data for this city for more conclusive data on the affluence of the area.

What is the population of Bogside?

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 Bogside is 40,577.

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 Bogside.

In Bogside, 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 Bogside 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.

Bogside population difference over 10 years?

The population has adjusted in the area of Bogside by 1% 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 Bogside.

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.

How deprived is the population of Bogside?

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 Bogside is no relevant data for this city.

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

Within Bogside, the number of people committing crimes is no relevant data for this city per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.

As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.

If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this no relevant data for this city figure carefully.

How much green space is available to residents of Bogside?

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 Bogside currently has 14.5 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 Bogside in this case.

What is the social grade score of Bogside?

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 Bogside 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 Bogside, 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

Bogside within North Lanarkshire is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Bogside 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 Bogside.