Whenever looking for a house for sale in the UK or in Castlecary, it is vital you look at the market trends and house price fluctuations in the wider area of North Lanarkshire 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 Castlecary.
In this article, we will be looking at the city of Castlecary in detail so you know how to navigate the area and have a better understanding on where to invest.
What are the people like in Castlecary?
What is the social grade score of Castlecary?
In the city of Castlecary and throughout the UK, the social grade score is assessed by observing what type of jobs people have and then grouping this into a grading system.
In general, the people at the top of the scale (the A category) have the highest paid, most skilled jobs and this is just 4% of the general UK population. On the lower end of the scale, people who are on benefits, state pensions and also manual workers all are grouped into this category that represents the most unskilled.
When trying to determine if the area of Castlecary has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is no relevant data for this city.
Below, you can see how this compares to the National average as the average for the top two categories nationwide is 27% (Adding together the A and B categories)
|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 Castlecary, what is the crime rate?
For every one thousand people living in Castlecary, no relevant data for this city commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of no relevant data for this city is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
In the city of Castlecary, is there a lot of green space?
In the city of Castlecary, there are 51.7 acres of green space per 1000 residents.
The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Castlecary is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.
In the city of Castlecary, 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 North Lanarkshire for example.
These demographics for Castlecary 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 Castlecary in Scotland.
What does the population of Castlecary look like?
Population growth in Castlecary is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.
In Castlecary, 18,379 people live in the city as their main place of residence.
It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.
Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.
In Castlecary in the previous five years, have population numbers transformed?
Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Castlecary, this change has been 1%. Read more here
Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 1%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Castlecary?
Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 2% in Castlecary.
What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.
In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.
This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.
What salary does the community in Castlecary 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 Castlecary this figure is no relevant data for this city.
In Castlecary, how educated are people in general?
In Castlecary, 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 Castlecary 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.
Is the city of Castlecary deprived?
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 Castlecary 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.
In general, what do houses for sale sell for in Castlecary?
There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Castlecary. In Castlecary, this sale price works out to be £204,369. As an example, a factor like population growth over the last 10 years which works out to be 2% in Castlecary and impacts house prices of the houses for sale.
|Housing category||Total final sale price|
|Average sold price (detached)||£259,714|
|Average sold price (semi-detached)||£168,339|
|Average sold price (terraced)||£122,905|
|Average sold price (flat)||£118,315|
Above, the exact type of house is also shown to vary in price in a table in Castlecary. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.
|Housing category||Sale price per square foot|
|Average sold price/sqft||£2,050|
|Average sold price/sqft (new build)||£0|
|Average sold price/sqft (old stock)||£2,030|
In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Castlecary which is £2,050. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.
What is the asking price on average of houses for sale in Castlecary?
When investors make offers for houses for sale in Castlecary, the average price asked by the homeowners works out to be £222,380.
In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.
Any house that looks like it is overpriced for the number of bedrooms it has in Castlecary is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.
In the city of Castlecary, 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)||£147,292|
|Average asking price (3 bed)||£196,570|
|Average asking price (4 bed)||£319,412|
|Average asking price (5 bed)||£370,692|
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 Castlecary has a lack of supply of housing in certain categories.
How are rental yields of the houses for sale different to the rest of the UK in Castlecary?
In Castlecary, how has the number of houses changed?
The growth of an area like Castlecary 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|
|Castlecary growth rate||17%||6%||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 Castlecary 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 Castlecary to North Lanarkshire and the broader suburb of the UK; Scotland.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Castlecary||no relevant data for this city||no relevant data for this city||no relevant data for this city||52.0%|
|North Lanarkshire||4.70%||£634||no relevant data for this city||59.85%|
Let’s assume you want to sell the house you’re looking to buy in Castlecary for profit in the future, in this case, looking at the data for the number of houses sold per month in Castlecary would give you an idea of whether the area is actively getting new investors. This figure is 18.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Castlecary. 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.