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What is it like buying a house in Paisley?

by | Nov 15, 2022

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

Paisley 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 Renfrewshire.
Before looking for a house for sale in the city of Paisley 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 Paisley.

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

Average price of houses for sale in Paisley

Average asking price (1 bed) £60,149
Average asking price (2 bed) £89,037
Average asking price (3 bed) £188,833
Average asking price (4 bed) £348,222
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 Paisley is the right area to buy a house in for you.

When investors make offers for houses for sale in Paisley, the average price asked by the homeowners works out to be £100,020.

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 Paisley 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.

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

In Paisley, how has the number of houses changed?

Growth in the area can be a good signal of a booming house market. However, too much growth could also have negative consequences on the capital appreciation of a house as time goes on.

Take a look at the table below for Paisley that shows the growth in recent years.

1 year 3 years 5 years
Paisley growth rate -3% 1% no relevant data for this city

High growth rates can signal an appreciating housing market, nonetheless, if there are too many houses being built, this could reduce demand for housing as the supply of houses for sale starts to catch up with the demand. Leading to stagnation or a decline in house pricing so understanding the growth in Paisley is important.

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 Paisley. 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 Paisley.

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 (Renfrewshire), a regional level (Scotland) and finally on the level of the city talked about in this article, Paisley.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Paisley no relevant data for this city no relevant data for this city no relevant data for this city 88.7%
Renfrewshire no relevant data for this city no relevant data for this city no relevant data for this city 71.90%
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 Paisley experiences. This figure for house sales per month is 137. 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.

What are the demographics like in the city of Paisley?

In the city of Paisley, 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 Renfrewshire for example.

These demographics for Paisley 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 Paisley in Scotland.

What is the city of Paisley’s 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 Paisley, 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).

How educated are the people in Paisley?

Interestingly, the percentage of people who have a degree in the city of Paisley is no relevant data for this city. Most of the time, the more people that have a degree, the higher the average household income and the more likely someone is to be able to afford to purchase a house. For example, the average income of the citizens in the area of Paisley is no relevant data for this city.

Generally, areas with high numbers of people with a degree are also areas with more people likely to be home owners and therefore the value of houses and relative prices of the houses for sale are more likely to go up too.

Nonetheless, making predictions about the appreciation of a house also has to be considered alongside other factors like population growth and the rental yields of the area.

However, most of the time, being educated is a good indication of affluence with 82% of people graded a first in tertiary education going on to eventually own a house.

Are the people in Paisley earning a lot?

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 Paisley, 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.

How much green space is available to residents of Paisley?

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 Paisley currently has 26.9 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 Paisley in this case.

Have the people of Paisley grown in numbers?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Paisley if 79,885 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 Paisley such as rental yield or house appreciation.

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

In the previous five years there has been a change in the number of people of Paisley 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 Paisley?

In the last decade, the population of Paisley has been adjusted by 0%. 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 Paisley, what are the deprivation levels like?

The deprivation levels of the UK can vary quite a bit. High deprivation levels signal a particular area has people who are struggling to make ends meet and pay for basic living expenses. For Paisley, in particular, the deprivation levels are no relevant data for this city.

This figure can be contrasted with the deprivation levels of the UK of 33% to see if the levels are below or above average.

What’s the crime rate in Paisley?

The crime rate of Paisley 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.

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

There are a lot of factors that impact the final sale price a house for sale sells for in the UK and in Paisley. In Paisley, this sale price works out to be £84,480. As an example, a factor like population growth over the last 10 years which works out to be 0% in Paisley and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £246,362
Average sold price (semi-detached) £155,093
Average sold price (terraced) £115,514
Average sold price (flat) £59,984

Above, the exact type of house is also shown to vary in price in a table in Paisley. You may think that the bigger the house is the more expensive, but actually, this table is more based on the demand for the properties in each category.

Housing category Sale price per square foot
Average sold price/sqft £1,403
Average sold price/sqft (new build) £1,547
Average sold price/sqft (old stock) £1,377

In addition, here is the price per square foot. By taking this data and doing an average, it is also possible to work out the average square foot of houses in Paisley which is £1,403. From here you can get a sense of the price of the overall housing market and therefore, also find out the prices of the houses for sale.

Professional advice for houses for sale in Paisley

A house for sale appropriate to 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 Paisley.

  • 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

House for sale in the same UK region

Below are a list of towns with a similar location to Paisley.
Reading these analysis will help you evaluate the different houses for sale currently listed in Scotland:

If you are interested in some other city or even region of the UK, please visit the following page houses for sale in the UK it contains all the data related to the houses for sale.

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