How much does a house for sale cost in Lilley?

by | Nov 15, 2022

Home $ House for sale in the UK $ How much does a house for sale cost in Lilley?

Lilley 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 Hertfordshire.
Before looking for a house for sale in the city of Lilley 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 Lilley.

Asking price in Lilley for a house for sale

In the city of Lilley, what is the average asking price for the houses for sale?

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 tables should give you a generic view of what the prices of the houses for sale are like. To close things off in terms of the house asking price, the average asking price for the house for sale in the whole of Lilley is £3,910. This should show you the general prices overall and for individual types of houses too.

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.

In Lilley, what do houses for sale tend to sell for?

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.

What are the people like in Lilley?

In Lilley, how educated are people in general?

In the city of Lilley, 25% people have a degree from a university. The higher this proportion is, in general, the more likely it is that the population is able to buy a house.

Interestingly, as people who have degrees go up, the average income of the area goes up too. You can see if there is a correlation, the average household income in the UK is price34,000 and the average income in Lilley is £46,100.

This should correspond with the average percentage of people in the UK who have degrees at 22.6%.

In Lilley, how has the population changed?

In total, the number of people in Lilley is 56,481. 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.

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

In the city of Lilley, there are 16.4 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 Lilley is when seeing if green space availability is sufficient. This green space could be parks, nature reserves, public gardens or playing fields.

The city of Lilley, situated in Hertfordshire, is a particularly impressive part of the UK because of the specific demographics of the location.

In the below headings, the city of Lilley and its demographics will be compared to its wider location (East of England). This includes population size, growth and population education now and into the future.

These statistics are heavily influenced by socio-economic factors and as a result this also shapes the projected house price of the houses for sale in Lilley. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In Lilley, what is the crime rate?

For the city of Lilley, crime rate is at 97. So for every 1000 people in the area, 97 commit a crime which is prosecuted. Paying close attention to this figure of crime rate is not only important for the value of a house but also to calculate the maintenance cost of owning a house and how attractive an area can be for future buyers.

So, compare it to the nationwide average of 79.52 per 1000 people and consider if you are happy with this figure based on the price you’re paying for a house you’re interested in.

On top of this, houses that are in areas where there is a high crime rate tend to have to pay higher insurance rates, costing a homeowner in the long term.

Additionally, paying for further security on a house such as CCTV or potentially gates and fences that deter thieves may be necessary for an area with a high crime rate.

What is the social grade score of Lilley?

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 Lilley, the percentage of people in the two highest categories, A and B is 21%. 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 £46,100. This income will generally get bigger as the percentage of people in the A and B categories go up too (21%).

Is the city of Lilley deprived?

Deprivation levels refer to the ability of the population of the city to earn enough to keep their lifestyle going. Nationwide, it is thought that the number of people at this level or not being able to meet the costs of living is around 33%. In comparison, the deprivation level of Lilley is 24%.

Are the people in Lilley earning a lot?

You may be wondering what the amount people earn has to do with house price. Well, house prices generally go up as people earn more not just because they can afford more valuable properties but also because good areas generally attract more desirable infrastructure. For reference, the average household income is £46,100.

This may be better schools, doctors and areas with lower crime rates. This results in a snowball effect which polarises different areas further, increasing the demand for housing in richer areas by a greater amount. And increasing the proportion of people with high social grade scores. For Lilley this figure is 21%.

What’s the rental yield in general for the city of Lilley?

Assuming you are not looking for a house for sale in a certain area because of private reasons such as being close to a family member or you have been relocated to a new office, these are some of the factors to consider in order to understand if an investment is worth your money.

Investors typically look at data such as the average rental yield, the average asking price of rent per month, rent turnover and sale turnover. These KPIs give property investors a solid idea of how the market is performing in that area.

For the city of Lilley, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; East of England. As well as Hertfordshire, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Lilley 3.8% £1,059 140% 13.0%
Hertfordshire 3.33% £1,382 133.74% 16.45%
East of England 3.49% £1,148 126.76% 16.58%

Assuming that in the future you want to re-sell the house you will eventually purchased in Lilley you might be interested in the number of sales per month (40) that happen in the local housing market. Comparing this figure for Lilley with the above table gives you a good understanding of the profitability of the area.

What is the growth in the housing market of Lilley?

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.