Millikenpark might be an interesting area to invest in when looking for a house for sale in the UK as it is a unique area in the county of East Renfrewshire.
Before looking for a house for sale in the city of Millikenpark we strongly suggest landlords and real estate investors to research in detail and consider all involved factors. Indeed, house prices can change quite a bit depending on the square foot of the property, the number of rooms, the economic climate, the location of the house and more.
In this data heavy article the reader will be able to find out more on the topic and see the specific data to consider when evaluating different houses for sale in Millikenpark.
In Millikenpark, what are the rental yields?
What is the growth in the housing market of Millikenpark?
Whenever you are thinking about looking for houses for sale in Millikenpark, 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 | |
|---|---|---|---|
| Millikenpark growth rate | no relevant data for this city | 23% | no relevant data for this city |
As the population of Millikenpark 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.
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 Millikenpark. 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 Millikenpark.
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 Renfrewshire), a regional level (Scotland) and finally on the level of the city talked about in this article, Millikenpark.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| Millikenpark | no relevant data for this city | no relevant data for this city | no relevant data for this city | 244.0% |
| East Renfrewshire | no relevant data for this city | no relevant data for this city | no relevant data for this city | 97.83% |
| Scotland | 5.48% | £871 | 125.36% | 59.40% |
You may also find it useful to compare the data above to the number of properties sold per month Millikenpark experiences. This figure for house sales per month is 7. 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.
In Millikenpark, what are the demographics like?
What salary does the community in Millikenpark 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 Millikenpark, 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.
How deprived is the population of Millikenpark?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Millikenpark, 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 the city of Millikenpark, 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 Renfrewshire for example.
These demographics for Millikenpark 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 Millikenpark in Scotland.
In the city of Millikenpark, is there a lot of green space?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of Millikenpark currently has 24.4 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and Millikenpark in this case.
What is a social grade score and how does this relate to Millikenpark?
Most of the time, the social grade score of a city is what it takes to determine what the economic levels are like as this score refers to what type of jobs the people of the area generally work as. So, from highly skilled, managerial roles, to the manual labour workers of the UK, how does Millikenpark compare?
At the highest end of the scale (A) jobs that are managerial administrative or professional are all lumped into this category. On the other hand, there is the lowest grade (E) where workers who are on benefits, state pensions or work casual jobs fall into.
In Millikenpark, the percentage of people who work in the two highest skilled categories of this scale (A and B) is no relevant data for this city.
So you can compare this data, here is the estimated grouping of the social grades of the UK for the general population. Adding the two highest categories of A and B and comparing this percentage to the high social grade score which combines A and B should give you a good comparison.
| 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 |
What is the population of Millikenpark?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Millikenpark if 3,846 and in the below heading how this population has changed will be broken down.
Like most data to do with houses, all data has to be considered holistically with multiple variables to determine if the population growth actually impacts the statistics that matter to you as a landlord in Millikenpark such as rental yield or house appreciation.
How has the population size of Millikenpark adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Millikenpark by 3%. Analysing this figure is a great way to tell if there is new demand for housing or not as a decreasing figure reduces the number of people who want to buy houses. Read more here
To compare this figure over a greater period of time, you could look at the figure for the 1 year population too and compare them. This way you can see if the population has changed recently or if this 3% change has historically occurred before. Click here to know more on the UK population trends.
Over the last 10 years, how has the population size adjusted in Millikenpark?
In the last decade, the population of Millikenpark has been adjusted by 3%. This growth may be as a result of factors like new industries employing people or emigration and immigration balancing out to create this population change.
A precedent that shows population change in this way over decades is the region of Greater London. The capital city has grown by 27% in the past 20 years. Population growth has caused house prices to go up to price523,666 on average.
For the city of Millikenpark, what is the education level?
The number of people as a percentage who have been through university and gained a degree is no relevant data for this city. The ability to buy a home is greatly influenced by the number of people who have degrees. no relevant data for this city is the amount people in Millikenpark are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in Millikenpark, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
Is the crime rate bad in the city of Millikenpark?
The crime rate of Millikenpark 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.
What is the asking price on average of houses for sale in Millikenpark?
In the city of Millikenpark, 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) | no relevant data for this city |
| Average asking price (3 bed) | no relevant data for this city |
| 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 Millikenpark is the right area to buy a house in for you.
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 Millikenpark 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 £181,454.
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 Millikenpark.
What is the final sale price of a house in Millikenpark?
As well as looking at the asking price for house for sale in Millikenpark, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Millikenpark.
Houses for sale, are sold on average in Millikenpark, after the influence of these factors, at £161,111 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 3% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £280,800 |
| Aerage sold price (semi-detached) | £189,278 |
| Aerage sold price (terraced) | £170,689 |
| Aerage sold price (flat) | £81,378 |
This table above shows the average sale price for each variation of houses for sale in Millikenpark.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £1,650 |
| Aerage sold price/sqft (new build) | £1,770 |
| Aerage sold price/sqft (old stock) | £1,610 |
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Millikenpark is £1,650.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Who can help you buy a house for sale in Millikenpark?
Other cities you can consider looking for 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 Millikenpark:
- Gourock in Scotland
- Burnhead in Scotland
- Beattock in Scotland
- Castlemilk in Scotland
- Ancroft 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
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 Millikenpark.
-
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.
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
Recent Comments