Whenever looking for a house for sale in the UK or in Largs, it is vital you look at the market trends and house price fluctuations in the wider area of East Ayrshire 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 Largs.
In this article, we will be looking at the city of Largs in detail so you know how to navigate the area and have a better understanding on where to invest.
What kind of demographics does the city of Largs have?
Are the deprivation levels of the UK any different to Largs?
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 Largs should give you a nice idea of the deprivation in the area.
In Largs, what is the 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 Largs, 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 Largs, 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 Largs is 11,471.
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 Largs.
In Largs, how has the population changed over the last five years?
In the last five years, over time, the change in population size was -1%. 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 Largs 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 (-1%) 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.
Largs population difference over 10 years?
The population has adjusted in the area of Largs by -3% 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 Largs.
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.
In Largs, how educated are people in general?
In the city of Largs, no relevant data for this city of people have degrees. In general, as the number of people who are highly educated goes up, the more likely they are to have the ability to buy houses as their annual household income goes up too.
So you can see for yourself, the average income for the people of Largs is no relevant data for this city. This generally goes up with the education level of the area. Additionally, looking at the difference between the proportion of people with degrees and the UK average for this statistic (22.6%) should give you an idea of the affluence and education of the city.
A higher education level can therefore tell you if the house prices are likely to be high as the higher income level often results in people buying a bigger, more valuable house.
Having said this, whale education level can be a good factor to go by, there are also things like the rental yields, the population growth and social grades scores that can impact the value of a house and whether it will go up in value as time goes on.
In the city of Largs, how much green space remains for residents?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Largs, the city has 27.4 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Largs.
The city of Largs, situated in East Ayrshire, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Largs 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 Largs. So, taking a good look at the data is essential to understand the area you are considering to buy in.
Is the crime rate bad in the city of Largs?
The crime rate of Largs must be looked at sceptically. The reason for this is that the crime rate can vary within a city greatly and the type of crime committed can also vary too.
For example, the area has a crime rate of 1, but another city may have a higher crime rate but not be deemed as dangerous due to lower level crime or minor offences being committed.
Either way, high crime rates are never a good sign so consider the rate against the UK average of 79.52 for every 1000 people as a benchmark.
Lower rates could mean things like home insurance is cheaper and you have to install fewer security measures throughout your house. Saving you money in the long run. So the statistic of crime rate (1) is both useful and is recommended to be compared to the average.
How much are those living in Largs earning?
Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.
For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.
To see if this phenomenon occurs in Largs. Compare the area’s average household income of no relevant data for this city to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at no relevant data for this city for more conclusive data on the affluence of the area.
Asking price in Largs for a house for sale
When investors make offers for houses for sale in Largs, the average price asked by the homeowners works out to be £163,297.
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 Largs 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.
In the city of Largs, what is the average asking price for the houses for sale?
| Average asking price (1 bed) | £53,425 |
| Average asking price (2 bed) | £127,792 |
| Average asking price (3 bed) | £263,500 |
| Average asking price (4 bed) | £314,539 |
| Average asking price (5 bed) | no relevant data for this city |
After looking at this table about prices of houses for sale in Largs, someone who is buying a home would be able to know in great detail what kind of house for sale available on the market best suits the amount of money they are looking to invest. Also, using a more general figure like the average asking price per square foot of a property which is £0 will help them to have a more wholistic understanding.
What’s the rental yield in general for the city of Largs?
In Largs, 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 Largs at 1 year, 3 year and 5 year intervals:
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| Largs growth rate | 7% | -1% | 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 Largs 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 Largs.
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.
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 in to all the details of Largs.
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 (East Ayrshire) as well as the broader region; Scotland.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Largs | no relevant data for this city | no relevant data for this city | no relevant data for this city | 45.0% |
| East Ayrshire | 4.95% | £547 | no relevant data for this city | 53.52% |
| Scotland | 5.48% | £871 | 125.36% | 59.40% |
Also, you can compare other data to the table above such as the number of houses sold per month in Largs which is 23 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 Largs is to invest in. Both in terms of rental yield and capital appreciation.
In general, what do houses for sale sell for in Largs?
In Largs, houses for sale are sold at an average of £111,005. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.
In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Largs. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £241,605 |
| Aerage sold price (semi-detached) | £166,473 |
| Aerage sold price (terraced) | £120,210 |
| Aerage sold price (flat) | £78,113 |
As you can see above, for Largs, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of -3% where lots of movement may inflate or deflate house prices.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,430 |
| Aerage sold price/sqft (new build) | £1,390 |
| Aerage sold price/sqft (old stock) | £1,440 |
Looking at the second table about Largs, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Largs is £1,430.
Who can help you buy a house for sale in Largs?
Finding the ideal house for sale for you
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 Largs.
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Affordability – check this article from the UK government to find out (see what house for sale you can afford)
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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.
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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.
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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.
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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.
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Wi-Fi speed – We recommend you check the internet plans available for the areas where you are considering to buy a house for sale
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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
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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.
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
House for sale in the same UK region
We have prepared a list of cities in Scotland, the same UK region of Largs that can help you evaluate the different houses for sale listed in the region:
Alternatively, you can visit our webpage dedicated to houses for sale in the UK, houses for sale in the UK.
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