Here at The Key Place, we can guide you to the right places to identify property values and yields in Penicuik and, as well as that, we can provide you with other useful property related information so you can make sure you know all you need to know before making your future investments.
I was reminded of this the other day when I was chatting to a landlord of mine and he said that I was a font of useful information about the Penicuik property market ..... at least I think he said useful!
This got me thinking that others may be interested in some ‘useful’ property facts about our town of Penicuik....
There are 230 streets Penicuik with 6,627 households, and just 16% of all those houses (1,073 to be precise) have changed hands since 2008.
Compared to the national average, Penicuik has 18% less detached houses, 51% more semi detached houses, 95% more terraced houses and 52% less flats. This ties in with Penicuik having significantly less single person property occupancy compared to the national average (27% vs 35%) and correspondingly more 2 person + households. This is a good indicator that Penicuik is good place to buy property in as yields on semi detached and terraced houses are generally higher than detached houses and flats.
Penicuik has more owned properties than the national average (71% vs 62%) and less Council/social renting than nationally (21% vs 25%). Overall this means that only 8% of properties in Penicuik are privately rented which is much lower than the national average of 13%. Given that there is a shift towards people renting rather than buying their own home, this means that there is more to ‘go after’ in Penicuik.
We also have information at our fingertips on seemingly daft things which can turn out to be quite important. For example, 92% of properties in Penicuik have gas central heating which is much higher than the national average of 74%. This is really useful to know when refurbishing a flat and considering whether you can ‘get away’ with electrical heating ..... you probably can’t in Penicuik
I could go on but I better not!