Lambeth – What to look for in houses for sale?

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ Lambeth – What to look for in houses for sale?

As a landlord, whenever you are looking at houses for sale in London, you could find varying prices throughout an area like Lambeth. 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 Lambeth 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 Lambeth will be revealed. Keep reading.

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

Let’s consider that you’re not looking to buy a house for sale to live in for the long term future such as if you changed location with your family and want to settle down and you want to find somewhere to buy as an investor in Lambeth. If this is the case, rental yield is a crucial statistic to consider.

If looking to invest, you should also consider other data about the area. The average rental income, the turnover of the sale of the house and what the net rental yields are like for the area do also have an impact on the final price of houses for sale in Lambeth.

It is clear to see from the table below that there is a difference between all of these pieces of information and how they can be compared and contrasted on a county level (London), a regional level (Greater London) and finally on the level of the city talked about in this article, Lambeth.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Lambeth 4.1% £1,779 140% 8.0%
London 3.96% £2,001 129.93% 12.05%
Greater London 3.88% £1,899 129.14% 13.30%

You may also find it useful to compare the data above to the number of properties sold per month Lambeth experiences. This figure for house sales per month is 12. Looking at all this information holistically is what a smart investor should do when deciding on the right area for investment before looking for houses for sale.

What is the growth in the housing market of Lambeth?

The growth of an area like Lambeth can be a great indicator of a thriving city and the influx of new people can drive demand for housing and help appreciate the value of your house after you buy it.

Paying attention to the table below tells you how the number of houses has changed over time at one year, three year and five year intervals.

1 year 3 years 5 years
Lambeth growth rate -1% 10% 12%

Despite the number of houses being built rising, this may not indicate that the housing price of the houses for sale is going up. It could be the case that there are a lot of new builds in the area which are causing the supply of the houses for sale to match demand and this could cause a decline in house price as time goes on.

Make sure you do your own research specific to the city of Lambeth if you want to find out the exact reasons for the housing change.

What are the demographics like in the city of Lambeth?

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

The city of Lambeth has a total population of 21,358. Large population sizes can be good to show there is a high demand for people to buy houses in the area but a better indication is if the population of Lambeth is growing.

A small population city can also have high prices of houses for sale, because, if there is a growing population, and demand is still high, this could mean the house prices are pushed up.

Either way, a population must also be looked at in terms of the appreciation of the area as well as the rental yields and if the area really meets your needs.

The five year population change of Lambeth

Over time, in the last five years, the population of the city of Lambeth has changed by 0%. This figure can tell you a lot because a growing population indicates a house is likely to appreciate. Read more here

In addition, looking at the 10 year figure for population growth in the below paragraphs can give you further evidence as to what the change in population has been for a longer period of time. As a result, you’ll know if this 0% population change is something that has been there for a while or if it is a new trend. Click here to know more on the UK population trends.

What is the difference in population over the last 10 years in Lambeth?

In the last 10 years, there has been a shift in the population of 8%.

Comparing this to the 5 year figure of Lambeth can tell you if there is a long history of population growth or decline, if there are population fluctuations or if the trend is stable.

New industries opening up in the area, the addition of new jobs and also international and national migration might all be reasons for changes in population size. Resulting in people moving in or leaving an area.

A good example of a quick change in population was in Stratford, London in 2012. Here, there was an increase in government spending in the area because of the Olympics which resulted in massive population growth.

How educated are the people in Lambeth?

In Lambeth, the proportion of people who have a degree is 39%. 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 Lambeth is £52,000.

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.

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

In the below headings, the city of Lambeth and its demographics will be compared to its wider location (Greater London). 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 Lambeth. So, taking a good look at the data is essential to understand the area you are considering to buy in.

In Lambeth, what is the social grade score?

In the city of Lambeth 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 Lambeth has an abundance of highly skilled workers, the top two categories are grouped together and given a percentage. This percentage is 27%.

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

Do the people of Lambeth get to enjoy green space?

Providing the right amount of green space for people in the UK is a difficult subject because there are clear benefits for human health but at the same time, it is hard to make sure all areas of the UK can get enough greenery. This is a result of land being already in use in cities where most people live.

In Lambeth, 3.8 is the amount of acres of outdoor space there is for every 1000 people. Charities such as ‘Fields in Trust’ recommend there to be at least 6 acres. This should allow you to conclude whether this green space is sufficient for you if you are interested in buying in Lambeth.

What’s the crime rate in Lambeth?

The crime rate of Lambeth 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 118, 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 (118) is both useful and is recommended to be compared to the average.

How deprived is the population of Lambeth?

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 Lambeth should give you a nice idea of the deprivation in the area.

What salary does the community in Lambeth take home?

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 (27%). 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 Lambeth, this works out to be £52,000. This can be looked at alongside the average household income which is price34,000to estimate how affluent the area is.

On average, what is the figure for the asking price of a house for sale in Lambeth?

Average price of houses for sale in Lambeth

Average asking price (1 bed) £323,696
Average asking price (2 bed) £442,599
Average asking price (3 bed) £639,028
Average asking price (4 bed) £943,663
Average asking price (5 bed) no relevant data for this city

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 Lambeth is £5,920. This should show you the general prices overall and for individual types of houses too.

When investors make offers for houses for sale in Lambeth, the average price asked by the homeowners works out to be £518,949.

In the table below, for all the different sizes of houses in the area, the average asking prices have been displayed. This tells you what kind of house is more or less expensive and sought after despite houses with fewer bedrooms being overall less expensive anyway.

Any house that looks like it is overpriced for the number of bedrooms it has in Lambeth is typically not overpriced. It is just the case that that type of housing has a higher demand, therefore, people are willing to pay more.

What is the final sale price of a house in Lambeth?

In Lambeth, houses for sale are sold at an average of £533,107. In general, multiple factors impact this figure because lots of variables impact properties valuation. This can include the quality of the buildings in general, whether the population has grown, if there is demand for housing or if there is a low crime rate which would make the area more desirable.

In the table below, you can see for yourself how the average price of a house for sale looks based on the different sizes of housing in Lambeth. The exact amount of variation between the types of housing depends on the local demand for particular types of houses in the area.

Housing category Total final sale price
Aerage sold price (detached) £1,033,790
Aerage sold price (semi-detached) £774,998
Aerage sold price (terraced) £637,218
Aerage sold price (flat) £393,691

As you can see above, for Lambeth, price varies based on the type of house that is being sold. If these prices shock you it could be due to population change in the last 10 years of 8% where lots of movement may inflate or deflate house prices.

Housing category Sale price per square foot
Aerage sold price/sqft £6,140
Aerage sold price/sqft (new build) £5,740
Aerage sold price/sqft (old stock) £6,060

Looking at the second table about Lambeth, you are able to tell which type of housing is most affordable to you as a buyer. However, for a general overview of what house price is, the average price per square foot for a house in Lambeth is £6,030.

Get professional help on the houses for sale in Lambeth

Are you considering other cities with houses for sale?

We have prepared a list of cities in Greater London, the same UK region of Lambeth that can help you evaluate the different houses for sale listed in the region:

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

A house for sale that is right for you

Find here below a list of criteria that we suggest you consider before looking for houses for sale in Lambeth

  • affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)

  • Geographic Location – the county and region across the UK you are considering to invest in are crucial factors to consider when browsing houses for sale.

  • Transport network of the house for sale – Hopefully, the pandemic stays in the past. Therefore, working from home may become less predominant than a couple of years ago. Check the commuting time of the house for sale you are considering buying.

  • Bedrooms in the house for sale – are you looking for houses for sale for yourself, for a couple or for the whole family? This condition will narrow down the number of houses for sale relevant to buy.

  • EPC of the house for sale – today more than ever, the energy performance of the properties for sale on the market should be one of the first things you check.

  • Broadband speed – having a good internet connection is crucial nowadays. Always check the available subscriptions available for the areas of the house for sale you want to purchase

  • Are you a car owner? – if yes, you will have to check for parking availability of the house for sale. Does it come with a garage included in the price?

  • Conservation areas – when browsing for houses for sale, we suggest you take a look at the National Heritage list. When a house for sale is included it means that it is not possible for the future homeowner to make changes to the property, both inside and outside.

  • 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.

Choosing the perfect house for sale for you might be challenging in today’s market due to the abundance of available houses.
You may wonder who can guide you through the process of selecting a house that is for sale.
There are several experts that provide guidance and support to potential buyers and the procedure can be drawn out, particularly when dealing with houses for sale.

Here is a list of who to contact to get assistance when purchasing a house for sale:

  • Banks – The ones that can lend you the money you need for the house for sale
  • Insurance companies – Companies that give you access to various insurances specific to the house for sale you are considering to buy
  • Solicitor – The individual or business responsible for handling the legal tasks required to purchase a home that is for sale.
  • Civil engineer – Provides you with an appraisal of the house up for sale that you want to purchase.
  • Mortgage advisor – Professional advisors that will guide you and propose the best mortgage deals according to your finances
  • EPC specialist – Getting professional advice on the energy performance of the house for sale is crucial, especially nowadays.