Lewes 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 East Sussex.
Before looking for a house for sale in the city of Lewes 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 Lewes.
In general, what do houses for sale sell for in Lewes?
As well as looking at the asking price for house for sale in Lewes, 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 Lewes.
Houses for sale, are sold on average in Lewes, after the influence of these factors, at £312,792 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 7% over the last 10 years.
|Housing category||Total final sale price|
|Aerage sold price (detached)||£350,761|
|Aerage sold price (semi-detached)||£303,213|
|Aerage sold price (terraced)||£275,195|
|Aerage sold price (flat)||£186,465|
This table above shows the average sale price for each variation of houses for sale in Lewes.
|Housing category||Sale price per square foot|
|Aerage sold price/sqft||£3,430|
|Aerage sold price/sqft (new build)||£3,500|
|Aerage sold price/sqft (old stock)||£3,360|
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 Lewes is £3,430.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
In Lewes, what are the rental yields?
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 Lewes.
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 (East Sussex) as well as the broader region; South East.
|Average Yield||Average Asking rent||Turnover (rental)||Turnover (sale)|
|Lewes||3.4%||£1,134||no relevant data for this city||21.0%|
Also, you can compare other data to the table above such as the number of houses sold per month in Lewes which is 22 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 Lewes is to invest in. Both in terms of rental yield and capital appreciation.
What is the growth in the housing market of Lewes?
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 Lewes that shows the growth in recent years.
|1 year||3 years||5 years|
|Lewes growth rate||6%||20%||25%|
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 Lewes is important.
What are the asking prices for the houses for sale in the city of Lewes?
Average asking prices for houses for sale in Lewes
|Average asking price (1 bed)||no relevant data for this city|
|Average asking price (2 bed)||£332,078|
|Average asking price (3 bed)||£414,051|
|Average asking price (4 bed)||£488,416|
|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 (£0) for houses for sale with this table to get a good idea as to whether Lewes is the right area to buy a house in for you.
On average, in Lewes, the asking price for a house for sale in the area is £398,951.
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 Lewes. 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.
What kind of demographics does the city of Lewes have?
The city of Lewes, situated in East Sussex, is a particularly impressive part of the UK because of the specific demographics of the location.
In the below headings, the city of Lewes and its demographics will be compared to its wider location (South East). 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 Lewes. So, taking a good look at the data is essential to understand the area you are considering to buy in.
In the city of Lewes, has the population grown or shrunk?
Population growth in Lewes is important to know if there is housing demand and the total population may also be looked at as large populations commonly have a lot of buyer demand.
In Lewes, 18,566 people live in the city as their main place of residence.
It is important to note that it is not the case that everyone likes a large population to live in. People who tend to prefer a more relaxed life are more likely to buy or rent somewhere to live that has a small population and perhaps also wouldn’t mind if the population isn’t growing.
Other people also like to have a mix of both. Where they can visit rural areas and also benefit from the amenities of a busy city.
In Lewes in the previous five years, have population numbers transformed?
Five years may seem like a long time but it is rare for a city to grow that much unless there is dramatic population growth. In Lewes, this change has been 3%. Read more here
Someone who wishes to find out how this change has occurred over a longer period of time may also wish to read the headings below and see if the change has continued throughout the past decade too. Or if the change is only true for the more recent figure for five years of 3%. Click here to know more on the UK population trends.
Over the last decade, how has the population differed in Lewes?
Populations change all the time but if there is a clear change in population in the last ten years this is even more reliable data about the population of the area as opposed to five. This adjustment in population works out to be 7% in Lewes.
What this statistic is like in comparison to the population change in five years should provide you with a comprehensive understanding of what direction the population is heading in.
In recent years because of the pandemic, it is common to see dramatic differences in the population change in the last five years when comparing it to ten as people realise they can work from home but still keep the current jobs they have.
This means they can move to cities they wouldn’t have considered otherwise and be location-independent of their source of income. Perhaps making a longer commute into the office every week for example.
Are the people of Lewes deprived?
Most of the time, high deprivation levels signal that people cannot afford to sustain their living expenses. In Lewes, currently, 28% people fall into this category.
Measuring this statistic against the nationwide average of 33% should give you a pretty good idea of where the city lies in the scale of poverty in the area.
What’s crime like in Lewes?
For every one thousand people living in Lewes, 81 commits crimes and are prosecuted. Coming to a conclusion as to whether all the other factors of your house purchase like the house price justify this figure when contrasting it with the UK average of 79.52 is something you should do as a homeowner.
It could be that the crime rate is higher than you expected but there it is worth the population growth, appreciation of the house and worth the relative price you are purchasing the house for.
Nonetheless, the crime rate of 81 is not a statistic that should just be ignored as you could have to pay more for things like home insurance and install additional security on your house if the rate is particularly high.
Either way, burglaries are not something you would want to encounter in a house. Whether that be a house you are living in or a house you are renting out to tenants.
In the city of Lewes, how much green space remains for residents?
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 Lewes, 4.8 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 Lewes.
What’s a social grade score and how does it relate to Lewes?
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 Lewes 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 Lewes, the percentage of people who work in the two highest skilled categories of this scale (A and B) is 15%.
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|
Are the people in Lewes earning a lot?
By and large, a higher household income in a population can have positive effects on the crime rate and the quality of space. This is due to the fact that higher earners tend to buy houses where there are better schools and more desirable amenities that impact the quality of life someone has.
In Lewes, the average income is £37,000. Measuring this figure against the average household income for the UK of price34,000 should tell you if the city is higher or lower earning.
When buying a house, use this statistic with other factors when making a decision too like the crime rate or the social grade score of 15% to decide on what the demographics are like in the area.
What is the education level like in Lewes?
In Lewes, the proportion of people who have a degree is 18%. 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 Lewes is £37,000.
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.