Millport – What to look for in houses for sale?

by | Nov 15, 2022

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Millport 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 Ayrshire.
Before looking for a house for sale in the city of Millport 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 Millport.

What is the final sale price of a house in Millport?

As well as looking at the asking price for house for sale in Millport, 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 Millport.

Houses for sale, are sold on average in Millport, after the influence of these factors, at £88,068 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) no relevant data for this city
Aerage sold price (semi-detached) no relevant data for this city
Aerage sold price (terraced) no relevant data for this city
Aerage sold price (flat) £75,597

This table above shows the average sale price for each variation of houses for sale in Millport.

Housing category Sale price per square foot
Aerage sold price/sqft £1,320
Aerage sold price/sqft (new build) £1,150
Aerage sold price/sqft (old stock) £1,390

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 Millport is £1,320.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

What are the demographics like in the city of Millport?

In the city of Millport, 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 Millport 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 Millport in Scotland.

Is the city of Millport 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 Millport 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.

In the city of Millport, has the population grown or shrunk?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Millport if 1,376 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 Millport such as rental yield or house appreciation.

How has the population size of Millport adjusted in the last 5 years?

In the previous five years there has been a change in the number of people of Millport by -1%. 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 -1% 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 Millport?

In the last decade, the population of Millport 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.

In the city of Millport, 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 Millport, the city has 100.8 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 Millport.

What’s a social grade score and how does it relate to Millport?

In the city of Millport 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 Millport 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

What’s crime like in Millport?

The crime rate of Millport 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 no relevant data for this city, 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 (no relevant data for this city) is both useful and is recommended to be compared to the average.

How much do people in Millport earn?

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 Millport. 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.

In Millport, how educated are people in general?

In the city of Millport, 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 Millport 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.

How are rental yields of the houses for sale different to the rest of the UK in Millport?

If you’re buying a house for investment rather than for the reason to live in the house over time and use the house as a place to stay in the long term, there is a need to look at the rental yield figure to see if the house for sale you are considering to buy is a good investment or not.

This figure is usually looked at by investors as well as the rental income of the area, the sale turnover and the rent turnover.

The table below represents this data and compares Millport to East Ayrshire and the broader suburb of the UK; Scotland.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Millport no relevant data for this city no relevant data for this city no relevant data for this city 25.0%
East Ayrshire 4.95% £547 no relevant data for this city 53.52%
Scotland 5.48% £871 125.36% 59.40%

Let’s assume you want to sell the house you’re looking to buy in Millport for profit in the future, in this case, looking at the data for the number of houses sold per month in Millport would give you an idea of whether the area is actively getting new investors. This figure is 5.

It is vital you be careful with this figure however as the data can suggest something that isn’t true in Millport. To give an example, a lot of people buying new houses could also indicate there are a lot of new first time buyers in the area which would in fact drive down the rental yield.

The more people there are interested in renting, rather than buying, the more likely that area of the UK has high rental yields and hence investors like these areas to invest in to create a large amount of cash flow.

Are there new houses being built in Millport to make it grow?

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

1 year 3 years 5 years
Millport growth rate no relevant data for this city 55% 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 Millport 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 Millport.

What is the asking price on average of houses for sale in Millport?

In the city of Millport, 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 Millport is the right area to buy a house in for you.

When investors make offers for houses for sale in Millport, the average price asked by the homeowners works out to be £95,842.

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 Millport 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.