What is it like buying a house in Perth?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Scotland $ What is it like buying a house in Perth?

Whenever looking for a house for sale in the UK or in Perth, it is vital you look at the market trends and house price fluctuations in the wider area of Perth and Kinross 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 Perth.

In this article, we will be looking at the city of Perth in detail so you know how to navigate the area and have a better understanding on where to invest.

What are the asking prices for the houses for sale in the city of Perth?

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 Perth 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 £331,065.

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 Perth.

The average asking price for the houses for sale in the city of Perth

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) £200,000
Average asking price (4 bed) no relevant data for this city
Average asking price (5 bed) no relevant data for this city

After looking at this table about prices of houses for sale in Perth, 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 £286 will help them to have a more wholistic understanding.

In general, for the city of Perth, what are the final purchase prices for the houses for sale?

For the city of Perth, the average price a house sells for is £206,855. This value usually depends on the exact location of the house within Perth as well as other factors like the population growth in Perth which is 2% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £270,789
Aerage sold price (semi-detached) £173,544
Aerage sold price (terraced) £145,186
Aerage sold price (flat) £153,870

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 Perth.

Housing category Sale price per square foot
Aerage sold price/sqft £1,059
Aerage sold price/sqft (new build) £1,739
Aerage sold price/sqft (old stock) £1,833

Generalising the bottom table, the average value per square foot of a house for sale is £1,084. This value averages all of the types of houses for sale in Perth. 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 Perth.

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

In Perth, how has the number of houses changed?

Whenever you are thinking about looking for houses for sale in Perth, 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
Perth growth rate 7% 25% no relevant data for this city

As the population of Perth 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.

You may have heard of rental yield as being important for investors who wish to make a sizable profit on their rental properties. If this sounds like you and you’re looking to invest in a house currently for sale and collect rental income in Perth this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (Scotland) alongside Perth and Kinross then looked at with other statistics like the area’s rent and the turnover of sale of the houses in question. It could be that an investor prefers to make a profit on the sale of a house rather than the rental income and optimal properties for this investment varies throughout Perth.

This decision is made differently depending on the investor’s tolerance for risk, investing strategy, the location they’re investing in and their overall goal for buying a house currently listed for sale.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Perth no relevant data for this city no relevant data for this city no relevant data for this city 27.6%
Perth and Kinross 4.65% £723 no relevant data for this city 38.81%
Scotland 5.48% £871 125.36% 59.40%

As you observe table above, it could be valuable to contrast these figures with other pieces of data relevant to the process of buying like the crime rate or the appreciation of houses for sale in Perth.

As you can tell, the best conclusions are drawn when the buyer of a house for sale looks at all the data involved holistically and doesn’t make quick decisions based on one or two pieces of data. As an example, comparing the data with the number of property sold per month (23) will be useful.

What kind of demographics does the city of Perth have?

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

Population growth in Perth is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.

In Perth, 24,676 people live in the city as their main place of residence.

It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.

Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.

In Perth in the previous five years, have population numbers transformed?

Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Perth, this change has been 1%. Read more here

Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 1%. Click here to know more on the UK population trends.

Over the last decade, how has the population differed in Perth?

Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 2% in Perth.

What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.

In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.

This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.

What is the social grade score of Perth?

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 Perth 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 Perth, 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

In the city of Perth, is there a lot of green space?

In the city of Perth, there are 51.4 acres of green space per 1000 residents.

The charity, ‘Fields in Trusts’ recommends a minimum of 6 acres of green space per 1000 people so it is easy to see where Perth is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

What’s crime like in Perth?

For every one thousand people living in Perth, no relevant data for this city commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.

It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.

Nonetheless, the crime rate of no relevant data for this city is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.

Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.

Perth in the county of Perth and Kinross 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 Perth 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 Perth, 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.

How deprived is the population of Perth?

Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Perth, 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.

What is the education level like in Perth?

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 Perth 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 Perth, 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.

What salary does the community in Perth take home?

As earning potential goes up in a city, so does the quality of schools in the area, the general infrastructure and the social grade score (no relevant data for this city). All in all, the area becomes a more desirable place to live in.

This is why it is vital to pay attention to how much people are making annually in any city you plan on making a house purchase in. In Perth, this works out to be no relevant data for this city. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.