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

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 Glenrothes?

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Whenever looking for a house for sale in the UK or in Glenrothes, 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 Glenrothes.

In this article, we will be looking at the city of Glenrothes in detail so you know how to navigate the area and have a better understanding on where to invest.

Invest in a house for sale that meets your demands

What parameters impact the final price of a house for sale in Glenrothes?
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.

What are the asking prices for the houses for sale in the city of Glenrothes?

Average price of houses for sale in Glenrothes

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) £121,494
Average asking price (4 bed) no relevant data for this city
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 Glenrothes has a lack of supply of housing in certain categories.

Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Glenrothes determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £139,461.

Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Glenrothes.

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

For the city of Glenrothes, the average price a house sells for is £100,338. This value usually depends on the exact location of the house within Glenrothes as well as other factors like the population growth which is 3% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £235,571
Aerage sold price (semi-detached) £135,278
Aerage sold price (terraced) £85,689
Aerage sold price (flat) £55,914

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 Glenrothes.

Housing category Sale price per square foot
Aerage sold price/sqft £1,140
Aerage sold price/sqft (new build) £1,030
Aerage sold price/sqft (old stock) £1,140

Generalising the bottom table, the average value per square foot of a house for sale is £1,140. This value averages all of the types of houses for sale in Glenrothes. 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 Glenrothes.
Bear in mind that if you are a landlord looking to buy a property to rent, you will also run into other expenses like letting agent fees and the cost of listing your property for sale on Rightmove in your city.

houses for sale in other cities and regions in the UK

If you are looking for similar places to buy a house that are just like Glenrothes, examine this short list of cities below from outside of the region of Scotland for some inspiration.

If none of these suit your interest, we suggest you visit our page with all of the relevant data concerning houses for sale in the UK, allowing you to buy the right property.

Or, consider buying a leasehold property instead which may be cheaper. However, you will also have to learn what will happen when a leasehold expires so you know how to deal with this side of the law.

Invest in houses for sale in Glenrothes with the right professional advice

Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.

Below, you can find a list of professionals that come in handy when looking for houses for sale:

  • Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
  • Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
  • Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
  • Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
  • Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
  • Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment

What are the demographics like in the city of Glenrothes?

In the city of Glenrothes, 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 Glenrothes 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 Glenrothes in Scotland.

In Glenrothes, what is the crime rate?

In Glenrothes, for every 1000 people, there is currently a crime rate of no relevant data for this city. This can be compared to the national average of 79.52 for every 1000 people.

Low crime rates are desirable for your safety as a homeowner. Even if you don’t tend to leave the house too often and tend to not mind living in a slightly more dangerous area. Things like burglaries are always a possibility which could harm your ability to pay for home insurance and also may force you to install additional security in your home that can cost you further.

Having said this, you can look at the crime rate on a deeper level to find out what the threats are exactly. It could be the case that a proportion of these crimes (no relevant data for this city for every 1000 people) come from things like anti-social behaviour rather than more serious crimes like violence and sexual offences.

If this is the case you may be more willing to look over a high crime rate within the areas you’re looking to buy a home.

What is the education level like in Glenrothes?

In the city of Glenrothes, no relevant data for this city people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Glenrothes is no relevant data for this city.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

What is a social grade score and how does this relate to Glenrothes?

In the city of Glenrothes 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 Glenrothes 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

Are the people of Glenrothes 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 Glenrothes 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.

What is the population of Glenrothes?

The city of Glenrothes has a total population of 18819. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Glenrothes is growing.

A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.

Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.

The five year population change of Glenrothes

Over time, in the last five years, the population of the city of Glenrothes has changed by 2%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here

In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 2% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.

What is the difference in population over the last 10 years in Glenrothes?

In the last 10 years, there has been a shift in the population of 3%.

Comparing this to the 5 year figure of Glenrothes can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.

New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.

A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.

How much are those living in Glenrothes earning?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

no relevant data for this city is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is no relevant data for this city for Glenrothes.

How much green space is available to residents of Glenrothes?

In the city of Glenrothes, there are 24 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 Glenrothes is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

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

Are there more or fewer houses being built in Glenrothes?

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 Glenrothes at 1 year, 3 year and 5 year intervals:

1 year 3 years 5 years
Glenrothes growth rate 6% 12% 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 Glenrothes 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 Glenrothes.

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look into all the details of Glenrothes.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Fife) as well as the broader region; Scotland.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Glenrothes no relevant data for this city no relevant data for this city no relevant data for this city £2
Fife 3.80% £564.00 no relevant data for this city 63.00%
Scotland 0.05 871.42 £1 59.40%

Also, you can compare other data to the table above such as the number of houses sold per month in Glenrothes which is no relevant data for this city and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Glenrothes is to invest in. Both in terms of rental yield and capital appreciation.

FAQ (Frequently Asked Questions)

Is it possible to renovate a property in Glenrothes?

If planning permissions are abundant in the vicinity of Glenrothes, it may look promising for landlords looking to renovate. With no relevant data for this city getting approved on a monthly basis, and a success rate of nan, these prospects flourish against a population of 18819. A comparative analysis against other locations across the UK will lend you a good perspective of this data.

What’s the number of property sales each month in Glenrothes?

The city of Glenrothes sees around no relevant data for this city property transactions every month, while the nationwide figure for the whole of the United Kingdom stands at roughly 1.1 million property sales.

In a city like Glenrothes, what’s the yearly fluctuation in population?

Calculating the evolution of Glenrothes’s population requires an examination of the population transformation over a decade, amounting to 3%, and the five-year adjustment at 2%. By contrasting these values, analyse recent changes in population to attain a thorough understanding of demographic trends and perhaps also look at house for sale data nearby

What is the asking price for houses for sale in the wider region of Glenrothes?

The average asking price of a house in Glenrothes is currently £0 based on the average price per square foot.

Is a house for sale in Glenrothes an expensive choice?

Calculate if a property is on the pricier side by matching a listed house for sale against the mean selling prices. In Glenrothes, this value is £100,338, compared to the UK’s average of £286,500.

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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