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All you need to know – houses for sale in Lambeth

by | Nov 15, 2022

Home $ House for sale in the UK $ Houses for sale in Greater London $ All you need to know – houses for sale in Lambeth

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Lambeth can be a tough place to find accurate information like any city in the UK. Read on to learn about which data to stay on top of when looking at house for sale in Lambeth.

On top of this, keep reading for detailed information on the demographics of Lambeth in London. This is crucial in finding houses for sale in the UK, that are worth investing in for the long term too.

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

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 Lambeth, the below table demonstrates this well. To make things simple, it compares these numbers to the wider region of the UK; Greater London. As well as London, to give a smaller scale area to compare the data to.

Average Yield Average Asking rent Turnover (rental) Turnover (sale)
Lambeth £0 £1,779 £1 £0
London 3.96% £2,001.05 129.93% 12.05%
Greater London 0.04 1,898.58 £1 13.30%

Assuming that in the future you want to re-sell the house you will eventually purchased in Lambeth you might be interested in the number of sales per month (12) that happen in the local housing market. Comparing this figure for Lambeth with the above table gives you a good understanding of the profitability of the area.

In Lambeth, how has the number of houses changed?

Before committing to Lambeth to make a housing investment, an investor should always ask the question, what is the growth like in the area?

So take a look below at the growth patterns of the previous years displaying the percentage of new houses being built. This will help you understand how the number of houses for sale will evolve in the future.

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

Whether housing growth actually changes the price of a house depends on if the city in question is outstripping demand with the supply of new housing. You’d have to do some more research on what rate Lambeth is building housing to find your answer.

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

The average asking price for the houses for sale in the city of 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 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 £5,920. 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 Lambeth has a lack of supply of housing in certain categories.

As you go ahead and make offers on a house for sale, it is sometimes best to know what other people are offering for the same type of house for sale so you know what to offer yourself to get a good deal. So you should know, the average asking price of Lambeth is £518,949.

Even though the asking price is not what the eventual price the house is sold at, making a note of the averages for the city of Lambeth is useful when negotiating and knowing what to expect for every type of house for sale.

Invest in a house for sale that meets your demands

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.

In general, for the city of Lambeth, what are the final purchase prices for the houses for sale?

As well as looking at the asking price for house for sale in Lambeth, 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 Lambeth.

Houses for sale, are sold on average in Lambeth, after the influence of these factors, at £533,107 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 8% over the last 10 years.

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

This table above shows the average sale price for each variation of houses for sale in Lambeth.

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

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 Lambeth is £6,030.

This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.

Who can help you buy a house for sale in Lambeth?

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

House for sale in a different UK region

We have prepared a list of cities that are entirely dissimilar to the region of Greater London, perfect if you are looking for somewhere similar to Lambeth 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.

Are there any important statistics about the population of Lambeth?

What is the city of Lambeth’s social grade score?

The social grade of a city is useful when searching for a house for sale because it tells you what kind of jobs people have in the area. For example, there could be a lot of skilled manual workers or there could be a lot of pensioners and people on benefits.

The scale goes from a social grade of an A who are high managerial, administrative or professional workers to an E where people in this category are on state pensions, casual workers or unemployed on state benefits. The number of people in Lambeth in grades A or B which are the highest skilled roles in the country is 0.27.

Realistically, you can expect workers in this category to earn a higher salary too. For comparison, £52,000.00 is the average household income of the area. You can see how this figure is congruent with the number of people in the top two categories of the social grade at 0.27.

What does the population of Lambeth look like?

The city of Lambeth has a total population of 21358. 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.

Is the city of Lambeth deprived?

The number of people who are deprived can have an impact on the perception of your house in the general marketplace. Additionally, if you are looking for a house to live in for the long term, you can start to picture what your neighbours and the people in your area live like financially.

If the proportion of deprivation of Lambeth is £0 and in general for the UK this figure is somewhere around 33%, you can see if this figure is something you are happy with as you search for a house to buy.

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 £52,000.00.

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.

Located in London is the city of Lambeth, in a large part of the UK; Greater London. Before you look for houses for sale in this area, it is a reasonable question to ask what the people who live there are like.

Below, the population of Lambeth has been dissected in terms of if the population is educated, what the crime rates are like and much more. All important factors to consider before making a house purchase among the offer of the houses for sale.

The knowledge below is based on a lot of different variables relevant to the city of Lambeth which impacts the profitability of making an investment here or how desirable buying a house to live in is if you want to live on a permanent basis.

In general, do people commit a lot of crime in Lambeth?

For the city of Lambeth, crime rate is at 118. So for every 1000 people in the area, 118 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.

How much do people in Lambeth earn?

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 Lambeth. Compare the area’s average household income of £52,000.00 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 0.27 for more conclusive data on the affluence of the area.

Is there sufficient green space in Lambeth?

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

Frequently Asked Questions (FAQ)

Do properties in Lambeth offer renovation potential?

Amidst the urban landscape of Lambeth, an intriguing figure for determining if a property can be renovated is the success of planning permission. The monthly total of planning applications in the area is 12 and on the other hand, there is a planning success rate of 77%. It is also useful to take into consideration the population size of the area (21358).

In Lambeth, how many property sales per month are there?

12 property transactions are reported in Lambeth each month, alongside a broader picture of approximately 1.1 million property sales across the UK.

What’s the year-over-year population change in Lambeth or similar cities?

To assess the shifts in Lambeth’s population over time, analyse how the population has altered. Look at the ten year change of population of 8%, alongside the five-year change of 0%.

In the larger vicinity of Lambeth, what is the cost of houses available for sale?

In Lambeth, the mean asking price per square foot for a house is currently £5,920, based on the average value per square foot

Is investing in a house for sale in Lambeth a financially demanding choice?

Determine whether a property is expensive by comparing a list of houses for sale to the prevailing average selling prices. In Lambeth, this figure stands at £533,107, while the UK average is £286,500.

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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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