Whenever looking for a house for sale in the UK or in Coaltown of Wemyss, it is vital you look at the market trends and house price fluctuations in the wider area of Fife 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 Coaltown of Wemyss.
In this article, we will be looking at the city of Coaltown of Wemyss in detail so you know how to navigate the area and have a better understanding on where to invest.
In Coaltown of Wemyss, what do houses for sale tend to sell for?
In Coaltown of Wemyss, the average sale price of a house for sale is in fact £112,622. This is dependent on the 10 year population growth of Coaltown of Wemyss being 3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Coaltown of Wemyss.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £233,108 |
| Aerage sold price (semi-detached) | £153,269 |
| Aerage sold price (terraced) | £112,726 |
| Aerage sold price (flat) | £85,456 |
The list below is able to inform you of what these prices are. Giving you an accurate estimate of whether a landlord is likely to accept your offer based on the prices of the houses for sale in Coaltown of Wemyss.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,280 |
| Aerage sold price/sqft (new build) | £1,150 |
| Aerage sold price/sqft (old stock) | £1,280 |
Evidently, certain types of houses for sale will have different types of demand and this will be reflected on the final price.
On average, the cost of a house for sale per square foot works out to be £1,280. This means if you are just looking out the houses sold in Coaltown of Wemyss in general and didn’t take into consideration the type of build. For example, a new build.
What kind of demographics does the city of Coaltown of Wemyss have?
In Coaltown of Wemyss, what is the social grade score?
In the city of Coaltown of Wemyss, 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 Coaltown of Wemyss.
| 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 |
For the city of Coaltown of Wemyss, what is the education level?
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 Coaltown of Wemyss 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 Coaltown of Wemyss, 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.
In the city of Coaltown of Wemyss, 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 Fife for example.
These demographics for Coaltown of Wemyss 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 Coaltown of Wemyss in Scotland.
In the city of Coaltown of Wemyss, has the population grown or shrunk?
Population growth in Coaltown of Wemyss 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 Coaltown of Wemyss, 25,212 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 Coaltown of Wemyss 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 Coaltown of Wemyss, this change has been 2%. 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 2%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Coaltown of Wemyss?
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 3% in Coaltown of Wemyss.
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.
How much do people in Coaltown of Wemyss earn?
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 Coaltown of Wemyss, 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.
In general, do people commit a lot of crime in Coaltown of Wemyss?
Within Coaltown of Wemyss, 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.
Are the people of Coaltown of Wemyss deprived?
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 Coaltown of Wemyss is no relevant data for this city.
How much green space is available to residents of Coaltown of Wemyss?
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 Coaltown of Wemyss currently has 26.4 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 Coaltown of Wemyss in this case.
How are rental yields of the houses for sale different to the rest of the UK in Coaltown of Wemyss?
In Coaltown of Wemyss, 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 Coaltown of Wemyss at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Coaltown of Wemyss growth rate | 8% | 14% | 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 Coaltown of Wemyss 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 Coaltown of Wemyss.
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 Coaltown of Wemyss to Fife and the broader suburb of the UK; Scotland.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Coaltown of Wemyss | 3.8% | £564 | no relevant data for this city | 46.0% |
| Fife | 3.80% | £564 | no relevant data for this city | 63.00% |
| Scotland | 5.48% | £871 | 125.36% | 59.40% |
Let’s assume you want to sell the house you’re looking to buy in Coaltown of Wemyss for profit in the future, in this case, looking at the data for the number of houses sold per month in Coaltown of Wemyss would give you an idea of whether the area is actively getting new investors. This figure is 47.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Coaltown of Wemyss. 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.
Asking price in Coaltown of Wemyss for a house for sale
Average asking prices for houses for sale in Coaltown of Wemyss
| Average asking price (1 bed) | £69,214 |
| Average asking price (2 bed) | £106,443 |
| Average asking price (3 bed) | £192,073 |
| Average asking price (4 bed) | £292,047 |
| 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 Coaltown of Wemyss has a lack of supply of housing in certain categories.
When speaking about the city of Coaltown of Wemyss, £176,681 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 Coaltown of Wemyss.
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.
Advice from experts on properties for sale in Coaltown of Wemyss
Are you considering other cities with houses for sale?
We have prepared a list of cities in Scotland, the same UK region of Coaltown of Wemyss that can help you evaluate the different houses for sale listed in the region:
- Catrine in Scotland
- Beeswing in Scotland
- Caldermill in Scotland
- Inveresk in Scotland
- Auchtertool in Scotland
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.
Here is a list of who to contact to get assistance when purchasing a house for sale:
- Banks – The ones that can lend you the money you need for the house for sale
- Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
- Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
- Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
- Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
- EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.
A house for sale that is right for you
Many criteria impact the price of houses for sale in Coaltown of Wemyss.
Here below are the most important ones according to Lofti’s expertise:
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Affordability – (see what house for sale can you afford?)
A guide from the UK government
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House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
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Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
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Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
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Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
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Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
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Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
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Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.
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