As a landlord, whenever you are looking at houses for sale in Midlothian, you could find varying prices throughout an area like Inveresk. In this article, this data will be simplified so you can find all of the data on one, convenient page.
So, from the rental yield of Inveresk to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Inveresk will be revealed. Keep reading.
In Inveresk, what do houses for sale tend to sell for?
For the city of Inveresk, the average price a house sells for is £199,171. This value usually depends on the exact location of the house within Inveresk as well as other factors like the population growth in Inveresk which is 9% over a ten-year period.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£325,032|
|Aerage sold price (semi-detached)||£218,200|
|Aerage sold price (terraced)||£199,630|
|Aerage sold price (flat)||£141,580|
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 Inveresk.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£2,360|
|Aerage sold price/sqft (new build)||£2,210|
|Aerage sold price/sqft (old stock)||£2,310|
Generalising the bottom table, the average value per square foot of a house for sale is £2,360. This value averages all of the types of houses for sale in Inveresk. 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 Inveresk.
What’s the rental yield in general for the city of Inveresk?
Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.
Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.
For the city of Inveresk, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Scotland. As well as Midlothian, to give a smaller scale area to compare the data to.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Inveresk||no relevant data for this city||no relevant data for this city||no relevant data for this city||40.0%|
Assuming that in the future you want to re-sell the house you will eventually purchased in Inveresk you might be interested in the number of sales per month (37) that happen in the local housing market. Comparing this figure for Inveresk with the above table gives you a good understanding of the profitability of the area.
What is the growth in the housing market of Inveresk?
Before committing to Inveresk to make a housing investment, an investor should always ask the question, what is the growth like in the area?
So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.
|1 year||3 years||5 years|
|Inveresk growth rate||1%||8%||no relevant data for this city|
Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Inveresk is building housing to find your answer.
Asking price in Inveresk for a house for sale
On average, in Inveresk, the asking price for a house for sale in the area is £258,284.
The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Inveresk. From a 1 bedroom house up to a 5 bedroom house.
As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.
In the city of Inveresk, 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)||£170,571|
|Average asking price (3 bed)||£267,665|
|Average asking price (4 bed)||£380,959|
|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 Inveresk has a lack of supply of housing in certain categories.
What are the demographics like in the city of Inveresk?
In Inveresk, what are the deprivation levels like?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of no relevant data for this city for Inveresk should give you a nice idea of the deprivation in the area.
Are the people in Inveresk earning a lot?
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 Inveresk, 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 the city of Inveresk, how much green space remains for residents?
Whether you view green space in Inveresk as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.
In Inveresk, the number of acres of green space for every 1000 people currently is 10.8 which can be measured against the UK average of 1.7.
Inveresk in the county of Midlothian 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 Inveresk 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 Inveresk, 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 Inveresk, how has the population changed?
The city of Inveresk has a total population of 25,140. 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 Inveresk 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 Inveresk
Over time, in the last five years, the population of the city of Inveresk has changed by 5%. 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 5% 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 Inveresk?
In the last 10 years, there has been a shift in the population of 9%.
Comparing this to the 5 year figure of Inveresk 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.
In Inveresk, what is the crime rate?
For the city of Inveresk, crime rate is at no relevant data for this city. So for every 1000 people in the area, no relevant data for this city commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.
So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.
On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.
Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.
What’s a social grade score and how does it relate to Inveresk?
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 Inveresk, 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 Inveresk, how educated are people in general?
In the city of Inveresk, 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 Inveresk 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%.
Get professional help on the houses for sale in Inveresk
In today’s market with an abundance of homes available for sale, choosing the best house for sale can be challenging.
With several houses for sale to choose from, who will guide you through the process of choosing?
We have listed here below several experts and companies able to advise and support potential buyers.
The process of finding and investing in a house for sale can be lengthy and time-consuming, this is why we suggest you consult with the following professionals:
- Banks – Lend you the cash
- Insurance companies – Insure your new real estate investment
- Conveyancer – handles all the legal labour that is needed to proceed in buying a house for sale.
- Surveyor – Carries out an independent and complete property valuation of the house for sale
- Mortgage advisor – If you are thinking to get a mortgage to get the finances needed to afford to buy a house for sale, a mortgage advisor is the person you should be looking for
- EPC person – Always get a quote on the Energy Performance Certificate of the houses for sale listed in a certain city
Thinking about other cities with houses for sale?
You can assess the various houses for sale offered in the area by consulting this list of cities in Scotland, the same UK region as Inveresk:
- Birkhill in Scotland
- Lauder in Scotland
- Broxburn in Scotland
- Aberdeen in Scotland
- East-Kilbride in Scotland
You may also refer to our landing page specific to UK houses for sale, houses for sale in the UK
Choose the right house for sale that suits your needs
Many criteria impact the price of houses for sale in Inveresk.
Here below are the most important ones according to Lofti’s expertise:
Affordability – (see what house for sale can you afford?)
A guide from the UK government
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.
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
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
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.
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
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
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.