Corstorphine 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 Corstorphine.
On top of this, keep reading for detailed information on the demographics of Corstorphine in Midlothian. 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.
What is the asking price on average of houses for sale in Corstorphine?
Average asking prices for houses for sale in Corstorphine
|Average asking price (1 bed)||£183,700|
|Average asking price (2 bed)||£249,184|
|Average asking price (3 bed)||£392,170|
|Average asking price (4 bed)||£583,221|
|Average asking price (5 bed)||£858,636|
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 Corstorphine is the right area to buy a house in for you.
When investors make offers for houses for sale in Corstorphine, the average price asked by the homeowners works out to be £350,632.
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 Corstorphine 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.
What are the demographics like in the city of Corstorphine?
How much do people in Corstorphine 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 Corstorphine this figure is no relevant data for this city.
Is there sufficient green space in Corstorphine?
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 Corstorphine, 19.7 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 Corstorphine.
What is the city of Corstorphine’s social grade score?
The social grade score is a good indicator of what type of jobs people generally work in the area. Whether that be working in the primary sector, secondary sector, tertiary sector or maybe the quaternary sector of jobs.
The scale is slightly different to this though on a scale of A to E. A refers to people who are in the most skilled, managerial roles whereas E include people such as casual workers.
In Corstorphine, the percentage of people in the two highest categories, A and B is no relevant data for this city. This figure includes people who are therefore most likely to be more skilled and have higher paid jobs.
When contrasting these figures, the average household income for the area is no relevant data for this city. This income will generally get bigger as the percentage of people in the A and B categories go up too (no relevant data for this city).
In the city of Corstorphine, has the population grown or shrunk?
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 Corstorphine is 38,395.
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 Corstorphine.
In Corstorphine, how has the population changed over the last five years?
In the last five years, over time, the change in population size was 6%. 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 Corstorphine 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 (6%) 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.
Corstorphine population difference over 10 years?
The population has adjusted in the area of Corstorphine by 12% 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 Corstorphine.
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.
The city of Corstorphine, situated in Midlothian, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Corstorphine 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 Corstorphine. So, taking a good look at the data is essential to understand the area you are considering to buy in.
What’s crime like in Corstorphine?
For every one thousand people living in Corstorphine, 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.
Is the education level of Corstorphine important when buying a house?
In Corstorphine, 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 Corstorphine 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.
Are the people of Corstorphine 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 Corstorphine is no relevant data for this city.
Always consider average rental yield when searching for houses for sale in Corstorphine
Are there more or fewer houses being built in Corstorphine?
Whenever you are thinking about looking for houses for sale in Corstorphine, 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|
|Corstorphine growth rate||1%||15%||43%|
As the population of Corstorphine 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.
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 Corstorphine to Midlothian and the broader suburb of the UK; Scotland.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Let’s assume you want to sell the house you’re looking to buy in Corstorphine for profit in the future, in this case, looking at the data for the number of houses sold per month in Corstorphine would give you an idea of whether the area is actively getting new investors. This figure is 67.
It is vital you be careful with this figure however as the data can suggest something that isn’t true in Corstorphine. 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.
In general, for the city of Corstorphine, what are the final purchase prices for the houses for sale?
For the city of Corstorphine, the average price a house sells for is £268,579. This value usually depends on the exact location of the house within Corstorphine as well as other factors like the population growth in Corstorphine which is 12% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£494,629|
|Aerage sold price (semi-detached)||£325,861|
|Aerage sold price (terraced)||£282,630|
|Aerage sold price (flat)||£212,859|
The above table puts this figure into perspective as you can see the various average sale prices of a house for the specific type of house you’re most interested in. This comparison is important because the type of house you’re considering to buy may be more or less in demand based on variations in supply and demand in the city of Corstorphine.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,150|
|Aerage sold price/sqft (new build)||£2,880|
|Aerage sold price/sqft (old stock)||£3,130|
Generalising the bottom table, the average value per square foot of a house for sale is £3,150. This value averages all of the types of houses for sale in Corstorphine. So, if you’re not sure what type of house you want specifically, you can still get an idea of the real estate market of Corstorphine.
Professional advice for houses for sale in Corstorphine
Invest in a house for sale that meets your demands
What parameters impact the final price of a house for sale in Corstorphine?
Here below is our list with the most important ones:
House for sale affordability – check out the (see house affordability guide)
on the UK gov website to know more
House Location – the actual location of a house for sale drastically changes the final price of a property
Transports you can reach by foot – Commuting is part of our lives, especially in big cities, check it out before buying a house for sale.
Number of bedrooms – Usually, the bigger the house for sale the more bedrooms it will have. For example, if you are a single person (or a couple) one bedroom will do.
Energy Performance Certificate of the house for sale – Bad EPCs can result in thousands of pounds more in bills you will have to pay on an annual basis. Consider this when purchasing a new property.
Internet connection – Having a quick internet connection is fundamental nowadays. Check the area of the house for sale to understand what the average internet speed is and see if it fits your needs
Do you drive to the office? – If yes, ask about parking. Is it included in the house price?
Special areas – Start by taking a look at the National Heritage list by the UK government. If a house listed for sale appears in the list, the future landlord won’t be able to invest in changes to the real estate asset.
Houses for sale Conditions – When looking for houses for sale you should always consider the amount of time and money you will have to invest to complete the needed repairs, if any at all.
Other cities you can consider looking for with houses for sale
We have prepared a list of cities in Scotland, the same UK region of Corstorphine that can help you evaluate the different houses for sale listed in the region:
- Auchterderran in Scotland
- Auchenmalg in Scotland
- Craigmillar in Scotland
- Achahoish in Scotland
- Dollar in Scotland
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
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