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

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in East Midlands $ How much will you pay for a house for sale in Grantham?

Grantham 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 Lincolnshire.
Before looking for a house for sale in the city of Grantham 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 Grantham.

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

Are there new houses being built in Grantham to make it grow?

Whenever you are thinking about looking for houses for sale in Grantham, 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
Grantham growth rate no relevant data for this city 11% 20%

As the population of Grantham 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 Grantham this statistic is what you were looking for.

Data should also be compared to the broader region of the UK (East Midlands) alongside Lincolnshire 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 Grantham.

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)
Grantham 3.8% £693 140% 22.0%
Lincolnshire 3.97% £689 100.56% 15.86%
East Midlands 4.02% £775 113.13% 19.44%

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 Grantham.

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 (42) will be useful.

Are there any important statistics about the population of Grantham?

In the city of Grantham, 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 Lincolnshire for example.

These demographics for Grantham 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 Grantham in East Midlands.

Are the deprivation levels of the UK any different to Grantham?

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 Grantham is 24%.

Do the people of Grantham get to enjoy green space?

Whether you view green space in Grantham as important to you as a homeowner is up to your personal preferences. Having said this, there is a clear benefit on the overall health of people who live near green space as the government has stated keeping green space in proximity to people is one of the biggest factors for combating obesity.

In Grantham, the number of acres of green space for every 1000 people currently is 17.5 which can be measured against the UK average of 1.7.

Are the people in Grantham earning a lot?

Typically, as people earn more money, the more they are able to afford and the better house prices in the area because demand goes up. You could also infer that the amenities such as schools, parks and public areas are generally of high quality as a result.

For these reasons, it could be argued that areas where people earn more money are generally nicer arrears to live in which also attracts more people as a result and further drives up house prices in the area.

To see if this phenomenon occurs in Grantham. Compare the area’s average household income of £38,200 to the average household income in the UK at price34,000. Adding to this, compare it with the figure for the highest social grade score too at 16% for more conclusive data on the affluence of the area.

What is the social grade score of Grantham?

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 Grantham 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 Grantham, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 16%.

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 Grantham, what is the crime rate?

For the city of Grantham, crime rate is at 120. So for every 1000 people in the area, 120 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 population of Grantham?

Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Grantham if 44,263 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 Grantham such as rental yield or house appreciation.

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

In the previous five years there has been a change in the number of people of Grantham by 3%. 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 3% 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 Grantham?

In the last decade, the population of Grantham has been adjusted by 8%. 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.

For the city of Grantham, what is the education level?

In Grantham, the proportion of people who have a degree is 20%. Generally speaking, as the number of people with degrees increases, the more people are able to afford houses to buy as a degree is a good indicator of a higher income. To put this into perspective, the average income of Grantham is £38,200.

This figure for average household income usually goes up alongside the percentage of people who have degrees.

However, this is not a hard and fast rule, there are many factors influencing the buying power of a population and hence the appreciation of housing and the number of houses for sale in the area. This can include the rental yields of the area and other demographic statistics like crime rate.

Nonetheless, it cannot be argued that those with degrees tend to live in more affluent areas as 82% of people who achieve a first in degree level education are owners of the place they live.

In general, what do houses for sale sell for in Grantham?

For the city of Grantham, the average price a house sells for is £178,594. This value usually depends on the exact location of the house within Grantham as well as other factors like the population growth in Grantham which is 8% over a ten-year period.

Housing category Total final sale price
Aerage sold price (detached) £254,364
Aerage sold price (semi-detached) £165,769
Aerage sold price (terraced) £127,432
Aerage sold price (flat) £93,614

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 Grantham.

Housing category Sale price per square foot
Aerage sold price/sqft £1,910
Aerage sold price/sqft (new build) £2,190
Aerage sold price/sqft (old stock) £1,800

Generalising the bottom table, the average value per square foot of a house for sale is £2,220. This value averages all of the types of houses for sale in Grantham. 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 Grantham.

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

On average, in Grantham, the asking price for a house for sale in the area is £216,015.

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 Grantham. 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.

Average asking prices for houses for sale in Grantham

Average asking price (1 bed) £87,790
Average asking price (2 bed) £149,410
Average asking price (3 bed) £207,553
Average asking price (4 bed) £331,183
Average asking price (5 bed) £402,854

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 Grantham is £2,540. This should show you the general prices overall and for individual types of houses too.