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

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 Castlemilk?

Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Castlemilk, Lanarkshire.

From the average asking price of houses for sale in Castlemilk to the growth of the population in the area, all will be talked about regarding the city of Castlemilk. So you will get better clued up on the area, and make finding a house for sale in the UK easier.

What are the people like in Castlemilk?

How much do people in Castlemilk earn?

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 Castlemilk this figure is no relevant data for this city.

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

The crime rate of Castlemilk must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.

For example, the area has a crime rate of no relevant data for this city, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.

Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.

Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (no relevant data for this city) is both useful and is recommended to be compared to the average.

In Castlemilk, what is the social grade score?

In the city of Castlemilk 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 Castlemilk 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

How deprived is the population of Castlemilk?

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 Castlemilk is 29%.

Do the people of Castlemilk get to enjoy green space?

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 Castlemilk, 48.2 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 Castlemilk.

In Castlemilk, how educated are people in general?

In the city of Castlemilk, 25% of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.

So you can see for yourself, the average income for the people of Castlemilk is no relevant data for this city. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.

A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.

Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.

Castlemilk in the county of Lanarkshire is notable for its specific demographics and has individual characteristics.

For localised cities and the bigger areas of the UK there are wide variations in the demographics that shape an area so the same is also true for the wider region Castlemilk is located in; Scotland.

Below, these demographics are talked about in headings that explain how the city has grown, what the education levels are like in Castlemilk, what the social grade score of the city is like and if the green space matches the recommended levels people living in the UK should have.

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

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Castlemilk if 14,862 and in the below heading how this population has changed will be broken down.

Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Castlemilk such as rental yield or house appreciation.

How has the population size of Castlemilk adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Castlemilk by 5%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here

To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 5% change has historically occurred before. Click here to know more on the UK population trends.

Over the last 10 years, how has the population size adjusted in Castlemilk?

In the last decade, the population of Castlemilk has been adjusted by 8%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.

A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.

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

Are there more or fewer houses being built in Castlemilk?

Whenever you are thinking about looking for houses for sale in Castlemilk, think about how the city is growing and how this may impact the overall growth of the area.

Comparing the growth at different time periods would be a great way to assess whether the growth has slowed down, remained the same or perhaps stagnated over the years.

1 year 3 years 5 years
Castlemilk growth rate no relevant data for this city 19% no relevant data for this city

As the population of Castlemilk grows, this may also push up the price of the houses for sale. More people would be looking to buy homes and permanently live in the area. This demand helps a home appreciate. However, this isn’t always true because some cities build a lot of houses too to match the supply.

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 Castlemilk this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (Scotland) alongside 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 Castlemilk.

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)
Castlemilk no relevant data for this city no relevant data for this city no relevant data for this city 52.0%
Lanarkshire 6.74% £983 123.25% 78.85%
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 Castlemilk.

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 (5) will be useful.

Asking price in Castlemilk for a house for sale

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 Castlemilk is £123,249.

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 Castlemilk is useful when negotiating and knowing what to expect for every type of house for sale.

Table showing the asking prices for houses for sale in Castlemilk

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) no relevant data for this city
Average asking price (4 bed) no relevant data for this city
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 Castlemilk is £0. This should show you the general prices overall and for individual types of houses too.

In Castlemilk, what do houses for sale tend to sell for?

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Castlemilk. In Castlemilk, this sale price works out to be £90,652. As an example, a factor like population growth over the last 10 years which works out to be 8% in Castlemilk and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) no relevant data for this city
Average sold price (semi-detached) £137,766
Average sold price (terraced) £107,771
Average sold price (flat) £61,407

Above, the exact type of house is also shown to vary in price in a table in Castlemilk. 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 £1,490
Average sold price/sqft (new build) £0
Average sold price/sqft (old stock) £1,450

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 Castlemilk which is £1,490. 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.