Sometimes, working out the prices of the houses for sale can be tricky business. This is why we created this article all about the price of houses for sale in Lenton, Nottinghamshire.
From the average asking price of houses for sale in Lenton to the growth of the population in the area, all will be talked about regarding the city of Lenton. So you will get better clued up on the area, and make finding a house for sale in the UK easier.
In general, for the city of Lenton, what are the final purchase prices for the houses for sale?
As well as looking at the asking price for house for sale in Lenton, a sensible homeowner or investor will also consider the final price a house sells for. This final price may be influenced by elements like the amount people are earning in the area and what opportunities for employment there are in Lenton.
Houses for sale, are sold on average in Lenton, after the influence of these factors, at £150,222 as a result. And may be on the rise or decline depending on a combination of variables such as the crime rate, or population growth which was 13% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£309,512|
|Aerage sold price (semi-detached)||£155,935|
|Aerage sold price (terraced)||£118,052|
|Aerage sold price (flat)||£145,133|
This table above shows the average sale price for each variation of houses for sale in Lenton.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£1,850|
|Aerage sold price/sqft (new build)||£2,170|
|Aerage sold price/sqft (old stock)||£1,720|
This final table looks at the price per square foot of houses for sale. Looking at the final table, you can take a further average and conclude that the average price per square foot of houses in general in Lenton is £2,320.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
What are the people like in Lenton?
Is there sufficient green space in Lenton?
In the UK, there are a range of cities which have a lot of green space. In some cases, green space can get as high as 49% of outdoor land like in the city of Edinburgh. When specifically talking about Lenton, the city has 13.5 per 1000 residents.
This can be compared to an average of 1.7 acres of green space per 1000 residents which is the UK’s national average. It is up to you to decide how much you’ll let the amount of green space impact your buying decision in Lenton.
Are the people of Lenton deprived?
Deprivation of a city is defined as the number of people who are considered to not be earning enough to sustain their lifestyle. The UK average of deprivation nationwide is 33% so comparing the figure of 28% for Lenton should give you a nice idea of the deprivation in the area.
In Lenton, what is the crime rate?
Within Lenton, the number of people committing crimes is 218 per 1000 people. This figure directly relates to the safety of residents in the area which is one of the biggest factors in whether an area is considered desirable or not.
As a result, someone looking to buy a house here hoping for it to appreciate in value or buying a house here to produce rental income should check out the crime rate and compare it carefully to the UK average of 79.52 for every 1000 people to see how safe people living there will be.
If the area’s crime rate is too high, this may result in you having to pay for the renovation of burglaries or pay a premium on home insurance as insurance companies will charge you more for living in a dangerous area. So analyse this 218 figure carefully.
Is the education level of Lenton important when buying a house?
In the city of Lenton, 27% 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 Lenton is £33,400.
This should correspond with the average percentage of people in the UK who have degrees at 22.6%.
Lenton within Nottinghamshire is notable for the type of people that live there. The statistics below show how this is the case.
As you read on, Lenton will be looked at by comparing it to the local region, as well as comparing it to the wider region too (East Midlands). 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 Lenton.
In Lenton, what is the 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 Lenton, the percentage of people in the two highest categories, A and B is 17%. 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 £33,400. This income will generally get bigger as the percentage of people in the A and B categories go up too (17%).
How much do people in Lenton earn?
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 (17%). 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 Lenton, this works out to be £33,400. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.
In the city of Lenton, has the population grown or shrunk?
Whenever there is a population change this can impact the demand for housing and hence the appreciation of properties too. The total population of Lenton if 56,435 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 Lenton such as rental yield or house appreciation.
How has the population size of Lenton adjusted in the last 5 years?
In the previous five years there has been a change in the number of people of Lenton by 6%. 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 6% 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 Lenton?
In the last decade, the population of Lenton has been adjusted by 13%. 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.
What are the asking prices for the houses for sale in the city of Lenton?
The average asking price for the houses for sale in the city of Lenton
|Average asking price (1 bed)||£105,455|
|Average asking price (2 bed)||£156,088|
|Average asking price (3 bed)||£193,290|
|Average asking price (4 bed)||£267,366|
|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 (£2,780) for houses for sale with this table to get a good idea as to whether Lenton is the right area to buy a house in for you.
Before a house gets sold, the figure it sells for always starts off as an asking price. This average asking price for the houses for sale in Lenton determines the eventual sale price of the house so it isn’t the most important figure but is still important to take note of. This figure is currently £191,158.
Below, there is a table showing the asking price of the different sizes of houses based on the number of bedrooms of the houses in Lenton.
Always consider average rental yield when searching for houses for sale in Lenton
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.
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 in to all the details of Lenton.
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 (Nottinghamshire) as well as the broader region; East Midlands.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
Also, you can compare other data to the table above such as the number of houses sold per month in Lenton which is 21 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 Lenton is to invest in. Both in terms of rental yield and capital appreciation.
Are there more or fewer houses being built in Lenton?
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 Lenton that shows the growth in recent years.
|1 year||3 years||5 years|
|Lenton growth rate||-5%||11%||30%|
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 Lenton is important.
Professional advice for houses for sale in Lenton
A house for sale that is right for you
When browsing houses for sale in Lenton you should think about lots of different criteria:
House for sale affordability – visit the dedicated page of the UK government to understand (see what you can afford)
Location of the house for sale – the region and town you are considering to live in are crucial factors to consider before looking for houses for sale. In this article, we define lots of demographic factors that should help you make a decision.
House for sale transport links – even if working from home is becoming more and more predominant, we suggest you check the transport links the house for sale has.
Number of bedrooms in the house for sale – are you looking for houses for sale for the whole family or are you single? Always think about how many bedrooms you need and if that number might change in the future
energy performance of the house for sale – What is the EPC of the house for sale? Today more than ever, is important that you check the EPC rating of the real estate assets available for sale on the market.
Internet speed in the area of the house for sale – is important to remember that internet speed is a consequence of two factors: your plan and the infrastructure available in the area. Always check these parameters before looking for houses for sale
Does the house for sale have parking – if yes, is it on-street or is the house for sale equipped with a garage?
Houses for sale in conservation areas – always check the National Heritage list. If a house for sale is part of this list it means that it might be impossible for you to make changes to the property’s internal and external structure.
Houses for sale Conditions – some properties, like new builds, need no repairs or works; other houses listed for sale may need some investment to restore them and some others may need a complete renovation. Someone looking for houses for sale should always think about how much time and money they are willing to invest to complete the needed repairs.
Thinking about other cities with houses for sale?
Below are a list of towns with a similar location to Lenton.
Reading these analysis will help you evaluate the different houses for sale currently listed in East Midlands:
- Ashby-Cum-Fenby in East Midlands
- Apperknowle in East Midlands
- Lenton in East Midlands
- Chapeltown in East Midlands
- Castle-Donington in East Midlands
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.
Nowadays, there are so many properties on the real estate market that it can be difficult to decide which one is the best house for sale for you.
So, who can help you navigate the process of choosing a house for sale?
The number of professionals that offer real estate investors advice and assistance is broad and when it comes to dealing with houses for sale, the process can be complex.
Find here a list of those that can help when buying a house for sale:
- Moneylender – lends you the sum of money you need to buy the house for sale you are looking for
- Insurance agent – A firm that provides several insurances and protections for the house for sale that might become your future house
- Solicitor – A person or company that will sort out the legal work needed before buying a house for sale
- Civil engineer – Also called surveyor, he or she will provide you with an independent valuation of the house for sale you are willing to buy
- Mortgage advisor – Realistically, you will need a mortgage in order to afford to buy a house for sale. Mortgage advisors will guide you and propose the best mortgage deals based on your financial records
- EPC specialist – Especially nowadays, getting professional advice on the Energy Performance Certificate (EPC) of the house for sale you are considering buying is crucial