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How much will you pay for a house for sale in Lilley?

by | Nov 15, 2022

Home $ House for sale in the UK $ How much will you pay for a house for sale in Lilley?

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As a landlord, whenever you are looking at houses for sale in Hertfordshire, you could find varying prices throughout an area like Lilley. In this article, this data will be simplified so you can find all of the data on one, convenient page.

So, from the rental yield of Lilley to the success you may expect to get when submitting planning permission. Everything you need to know about house for sale in the UK and in Lilley will be revealed. Keep reading.

In Lilley, what are the demographics like?

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

In total, the number of people in Lilley is 56481. This figure can be used to estimate the appreciation of the houses but it is also important you look at the population growth figure in order to make this more accurate.

Whether a large population benefits you as a landlord is dependent on what you want from a home. A large population is great if you have children who prefer the bustle of crowds in cities but there are also those who purposely want to buy somewhere rural.

You may also be able to find a balance of both where there are shops, restaurants and entertainment and also rural areas all within a short distance which may be the case ni Lilley, depending on where exactly you are.

How has Lilley changed in the past five years?

Five years provides enough time for a city to grow dramatically. It may be the case that the population grows or shrinks but the city of Lilley has changed by 0%. Read more here

It is also helpful to compare this data to a longer time period like 10 years like in the below subheading. If the population trend of growth or decline has been there for a longer period of time you’ll be able to tell if 0% is a recent change or not.
Click here to know more on the UK population trends.

In the last decade, what is the difference in population in Lilley?

7% has been the population growth change in the past 10 years.

Usually, this is more of a conservative figure compared to the five year change of a city.

Industrial changes can also be the reason for this shift but it could also be due to immigration or emigration. Bringing people in or out of the area.

The recent global pandemic has also shifted the number of people living in cities as people realise they can now work remotely. It may be that the people of a Lilley have seen a more desirable way of working, moving to make themselves more comfortable in their careers.

For example, the population of the South west of England has seen a massive increase in population because workers want to move there to benefit from the slightly better weather, lower house prices and also the rural area. Nonetheless, they can also benefit from travelling to the capital city of the UK, London.

Is the education level of Lilley important when buying a house?

The number of people as a percentage who have been through university and gained a degree is 25%. The ability to buy a home is greatly influenced by the number of people who have degrees. £46,100.00 is the amount people in Lilley 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 Lilley, 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.

Are the people in Lilley earning a lot?

While not always the case, the amount people earn can be associated with better schools in the area and perhaps a nicer environment to live in.

£46,100.00 is the average household income of the area. And the higher this figure is the more likely it is that there is a higher percentage of people with a social grade score in the A or B categories which is 0.21 for Lilley.

Lilley within Hertfordshire is notable for the type of people that live there. The statistics below show how this is the case.

As you read on, Lilley will be looked at by comparing it to the local region, as well as comparing it to the wider region too (East of England). From what the population of the city is to how it’s growing as well as factors like the overall crime rate.

This data is impacted by the history of the area and what kind of industry there is around. All of which also impact house prices which is crucial for you to understand as you look at houses for sale in Lilley.

Do the people of Lilley get to enjoy 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 Lilley currently has 16 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 Lilley in this case.

What is the social grade score of Lilley?

In the city of Lilley 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 Lilley has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 0.21.

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

How deprived is the population of Lilley?

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 Lilley, in particular, the deprivation levels are £0.

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

In Lilley, what is the crime rate?

The crime rate of Lilley 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 97, 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 (97) is both useful and is recommended to be compared to the average.

Always consider average rental yield when searching for houses for sale in Lilley

In Lilley, how has the number of houses changed?

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

1 year 3 years 5 years
Lilley growth rate 3% 20% 20%

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 Lilley 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 Lilley.

The figure of rental yield is commonly looked at by investors who wish to increase their income by investing in areas where rental yields of the houses for sale are higher. Usually, the higher the rental yield, the more attractive a house for sale is for an investor. This is why it is common for landlords to increase rent using section 13, to maximise this yield, as it is so important.

Nonetheless, there are also instances where an investor will go with a house with lower yields in order to benefit from the appreciation of a house too which is why it’s vital to look into all the details of Lilley.

The data below shows the rental yield, rent turnover and the percentage of the money made on the sale of a house. The data is broken down into the county city is in (Hertfordshire) as well as the broader region; East of England.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Lilley £0 £1,059 £1 £0
Hertfordshire 3.33% £1,381.63 133.74% 16.45%
East of England 0.03 1,148.32 £1 16.58%

Also, you can compare other data to the table above such as the number of houses sold per month in Lilley which is 36 and get a better understanding of the housing market.

This is great if you want to gauge if investors are actively looking for houses for sale in the area over other areas in the UK which may be an induction of how profitable Lilley is to invest in. Both in terms of rental yield and capital appreciation.

In general, for the city of Lilley, 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 Lilley. In Lilley, this sale price works out to be £278,087. As an example, a factor like population growth over the last 10 years which works out to be 7% in Lilley and impacts house prices of the houses for sale.

Housing category Total final sale price
Average sold price (detached) £402,671
Average sold price (semi-detached) £289,670
Average sold price (terraced) £243,202
Average sold price (flat) £171,925

Above, the exact type of house is also shown to vary in price in a table in Lilley. 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 £3,310
Average sold price/sqft (new build) £3,590
Average sold price/sqft (old stock) £3,220

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 Lilley which is £3,610. 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.

Get professional help on the houses for sale in Lilley

Considering all the above data and information provided, you may want know who can help you buy a house for sale.
Lots of professionals offer property investors and first-time buyers advice and assistance in dealing with the process of acquiring a house for sale.

Below, you can find a list of professionals that come in handy when looking for houses for sale:

  • Lender – Is someone capable of lending you the money you need to complete the purchase of the house for sale
  • Insurer – Insurance companies provide building insurances and other financial products you need to protect your real estate assets
  • Conveyancer – This professional will take care of the legal work needed when looking for a house for sale
  • Surveyor – Use this professional to assess the condition of the house for sale you are willing to buy, get an independent valuation and feel more comfortable when negotiating the final price
  • Mortgage broker or adviser – Different buyers can access different mortgages to buy a house for sale. Let the mortgage broker suggest to you which one is the best given your financial situation
  • Energy professional – Nowadays is more important than ever, to get professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering as your next investment

Invest in a house for sale that meets your demands

Many criteria impact the price of houses for sale in Lilley.
Here below are the most important ones according to Lofti’s expertise:

  • Affordability – (see what house for sale can you afford?)

    A guide from the UK government

  • House Location – The borough and region of the UK you want to invest in is an important factor to consider when looking for a home for sale.
  • Transport – Commuting can be a waste of time. Minimise it by checking how long it will take from the house for sale you’re interested in, to your office before considering buying
  • Number of bedrooms – The number of bedrooms goes hand in hand with the house for sale price. If you are buying for the long period try to think if you might need an extra bedroom
  • Energy performance of the house for sale – The difference between an EPC rating of A and an EPC rating of G can impact your monthly utility bills, consider this when evaluating houses for sale.
  • Internet connection – Being able to take video calls from your home is crucial nowadays, always check the broadband of the area when browsing houses for sale
  • Car park – Ask the property seller for parking availability. If it is included in the price of the house for sale, you can justify paying more than you would at first glance
  • Conditions of the house for sale – Repair works can be expensive and take a lot of time, assess the conditions of the houses listed for sale before making an official offer.

In Lilley, what is the asking price in general for a house for sale?

On average, in Lilley, the asking price for a house for sale in the area is £336,532.

The below table puts this figure into perspective as you can see the various average sale prices of the different type of houses for sale in Lilley. From a 1 bedroom house up to a 5 bedroom house.

As you can imagine, as the price goes up, the size of a room also goes up and in general, the larger a house is, the more you can expect the sale price to be as well.

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

Average asking price (1 bed) £178,783
Average asking price (2 bed) £274,471
Average asking price (3 bed) £368,889
Average asking price (4 bed) £489,500
Average asking price (5 bed) £592,941

The above table is perfect for understanding the distribution of properties in the area as well as looking at this data alongside the average asking price per square foot of £3,910. Telling you what type of house is most in demand relative to the price of the area.

This could be due to more people looking at particular types of houses for sale over others or even due to the fact that Lilley has a lack of supply of housing in certain categories.

Other cities in different locations you can consider to buy property

We have prepared a list of cities that are entirely dissimilar to the region of East of England, perfect if you are looking for somewhere similar to Lilley but want to relocate to a different region entirely. You should then be able to evaluate the different houses for sale listed in the region:

Alternatively, you can visit our webpage dedicated to houses for sale in the UK for a broader understanding, houses for sale in the UK.

FAQ (Frequently Asked Questions)

Do properties in Lilley have the potential for renovation?

Lilley is likely to be a great place for revamping property if there is a lot of greenlit planning permission. The are 27 each month, attaining a success rate of 77% and a total population of 56481. You can find out if this is above or below similar areas in the UK by comparing it to a nearby place

What is the monthly count of property transactions in Lilley?

The city of Lilley sees around 36 property transactions every month, while the nationwide figure for the whole of the United Kingdom stands at roughly 1.1 million property sales.

What is the population change each year in a city like Lilley?

Calculating the evolution of Lilley’s population requires an examination of the population transformation over a decade, amounting to 7%, and the five-year adjustment at 0%. By contrasting these values, analyse recent changes in population to attain a thorough understanding of demographic trends and perhaps also look at house for sale data nearby

What are the asking rates for houses for sale in the surrounding area of Lilley?

The average cost per square foot for a house in Lilley is presently £3,910.

Does opting for a house for sale in Lilley come with a hefty price tag?

Determine whether a property is expensive by comparing a list of houses for sale to the prevailing average selling prices. In Lilley, this figure stands at £278,087, while the UK average is £286,500.

Find an estate agent where you’re looking to buy in Lilley

When buying, having the right expertise when navigating Lilley and the property market can be a great advantage. So, don’t make things harder for yourself and tackle a home purchase on your own. Browse our list of reputable estate agents below to help you on your house hunt!

Estate agent name Phone number Address of agent Email Address
Giggs & Bell 441582955961 110 Butterfield, Luton, LU2 8DL Phone number only
Shiebert and Co 441582955817 19 Corncrake Close, Luton, LU2 8EL Phone number only
Modesty Property Consultants 442080334981 25 Brunswick Street, Luton, LU2 0HF nan
Prestige Move 441582742041 37 Alma Street, Luton, LU1 2PL Phone number only
P&R Property 441582720777 KINGHAM HOUSE Roy Baker (roy@pandrproperty.co.uk);Anne-Marie Mcaree (anne@pandrproperty.co.uk);Rebecca Pritchard (rebecca@pandrproperty.co.uk);Becci Pritchard (becci@pandrproperty.co.uk);Connor Crouchman (connor@pandrproperty.co.uk);Paul Upson (paul@pandrproperty.co.uk)

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donnell-bailey

Donnell Bailey

Property expert

Donnell is a property expert focusing on the property market, he looks at a combination of legislation, information from property managers, letting agents and market trends to produce information to help landlords.

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