As a landlord, whenever you are looking at houses for sale in East Ayrshire, you could find varying prices throughout an area like Kilmarnock. 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 Kilmarnock 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 Kilmarnock will be revealed. Keep reading.
What kind of demographics does the city of Kilmarnock have?
In the city of Kilmarnock, has the population grown or shrunk?
The city of Kilmarnock has a total population of 9,407. 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 Kilmarnock 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 Kilmarnock
Over time, in the last five years, the population of the city of Kilmarnock has changed by -1%. 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 -1% 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 Kilmarnock?
In the last 10 years, there has been a shift in the population of -3%.
Comparing this to the 5 year figure of Kilmarnock 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 Kilmarnock, how educated are people in general?
In Kilmarnock, 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 Kilmarnock 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.
Is there sufficient green space in Kilmarnock?
Whether you view green space in Kilmarnock 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 Kilmarnock, the number of acres of green space for every 1000 people currently is 38.8 which can be measured against the UK average of 1.7.
What salary does the community in Kilmarnock take home?
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 Kilmarnock, 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 Kilmarnock, 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 East Ayrshire for example.
These demographics for Kilmarnock 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 Kilmarnock in Scotland.
In Kilmarnock, what is the crime rate?
In Kilmarnock, 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 a social grade score and how does this relate to Kilmarnock?
In the city of Kilmarnock 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 Kilmarnock 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 Kilmarnock?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Kilmarnock, currently, no relevant data for this city people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
In Kilmarnock, what is the asking price in general for a house for sale?
Average price of houses for sale in Kilmarnock
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£66,250|
|Average asking price (3 bed)||£118,591|
|Average asking price (4 bed)||no relevant data for this city|
|Average asking price (5 bed)||no relevant data for this city|
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 Kilmarnock is the right area to buy a house in for you.
When speaking about the city of Kilmarnock, £93,558 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 Kilmarnock.
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.
In general, for the city of Kilmarnock, what are the final purchase prices for the houses for sale?
In Kilmarnock, the average sale price of a house for sale is in fact £78,456. This is dependent on the 10 year population growth of Kilmarnock being -3%. Growing populations are more likely to inflate the prices of houses for sale in the city of Kilmarnock.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£211,720|
|Aerage sold price (semi-detached)||£108,993|
|Aerage sold price (terraced)||£72,293|
|Aerage sold price (flat)||£44,996|
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 Kilmarnock.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£860|
|Aerage sold price/sqft (new build)||£800|
|Aerage sold price/sqft (old stock)||£860|
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 £860. This means if you are just looking out the houses sold in Kilmarnock in general and didn’t take into consideration the type of build. For example, a new build.
How are rental yields of the houses for sale different to the rest of the UK in Kilmarnock?
Are there more or fewer houses being built in Kilmarnock?
The growth of an area like Kilmarnock can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.
Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.
|1 year||3 years||5 years|
|Kilmarnock growth rate||-7%||21%||no relevant data for this city|
Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.
Make sure you do your own research specific to the city of Kilmarnock if you want to find out the exact reasons for the housing change.
Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Kilmarnock. If this is the case, rental yield is a crucial statistic to consider.
If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Kilmarnock.
It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (East Ayrshire), a regional level (Scotland) and finally on the level of the city talked about in this article, Kilmarnock.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Kilmarnock||no relevant data for this city||no relevant data for this city||no relevant data for this city||52.0%|
|East Ayrshire||4.95%||£547||no relevant data for this city||53.52%|
You may also find it useful to compare the data above to the number of properties sold per month Kilmarnock experiences. This figure for house sales per month is 10. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.
Invest in houses for sale in Kilmarnock with the right professional advice
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
Choose the right house for sale that suits your needs
Criterias that have an impact on the actual price of a house for sale have been listed here below. Consider them all to find the perfect houses for sale in Kilmarnock.
Affordability – check this article from the UK government to find out (see what house for sale you can afford)
Location – if the house for sale is in the city centre rather than further out, this may be why it is more expensive than the market average.
Transports near the house for sale – Being able to use public transports is a huge plus for a house, especially in big cities. This will have an impact on the price as well.
Bedrooms – the more bedrooms there are in a house for sale, the more tenants a buy to let investors will be able to host, therefore, realistically the price will also increase.
EPC of the house for sale – today more than ever, the energy performance of properties for sale on the market should be one of the first things you check.
Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
Are you a motorist? – If yes, filter out your searches and compare prices of houses for sale with parking availability. Remember, a car parking space can cost as much as £400 per month
Conditions of the house for sale – New builds and properties that were recently built usually need little to no repairs; instead, other houses for sale may require consistent or structural maintenance. These investments that can be both expensive and laborious to complete. Before making your offer for a house for sale you should always carefully assess this criteria.
House for sale in the same UK region
We have prepared a list of cities in Scotland, the same UK region of Kilmarnock that can help you evaluate the different houses for sale listed in the region:
- Barrhead in Scotland
- Chryston in Scotland
- Aberfoyle in Scotland
- Balmerino in Scotland
- Borgue in Scotland
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.