As a landlord, whenever you are looking at houses for sale in Somerset, you could find varying prices throughout an area like East Lambrook. 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 East Lambrook 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 East Lambrook will be revealed. Keep reading.
In East Lambrook, what are the demographics like?
Are the people of East Lambrook 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 East Lambrook is 18% 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 much do people in East Lambrook 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 East Lambrook. Compare the area’s average household income of £42,900 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 28% for more conclusive data on the affluence of the area.
What does the population of East Lambrook look like?
The city of East Lambrook has a total population of 3,961. 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 East Lambrook 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 East Lambrook
Over time, in the last five years, the population of the city of East Lambrook has changed by 2%. 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 2% 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 East Lambrook?
In the last 10 years, there has been a shift in the population of 5%.
Comparing this to the 5 year figure of East Lambrook 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 education level of East Lambrook important when buying a house?
The number of people as a percentage who have been through university and gained a degree is 30%. The ability to buy a home is greatly influenced by the number of people who have degrees. £42,900 is the amount people in East Lambrook are earning.
As you can tell, this figure along with the number of people who have degrees roughly correlate. For reference, the percentage of people who have degrees in the UK is 22.6% and the average household income is.
As a general rule, the bigger the difference between this 22.6% figure and the percentage of people with a degree in East Lambrook, the bigger the difference in the ability to earn and hence buy a house. A higher number of degrees will increase the potential for people to earn and hence the buying power of the population. This will also push up the price of houses in the area.
Nonetheless, making accurate estimates for the appreciation of homes must be done with other pieces of data in mind such as the rental yields or perhaps the crime rate of the area to name some examples.
Located in Somerset is the city of East Lambrook, in a large part of the UK; South West. 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 East Lambrook 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 East Lambrook 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.
How much green space is available to residents of East Lambrook?
There are cities in the UK such as Edinburgh and Bristol that have a higher percentages of green space with Edinburgh being the most at 49%. The city of East Lambrook currently has 4.7 for every 1000 residents.
Green space helps the quality of people’s mental health as well as fight against diseases like obesity. As studies have shown that the proximity of people to green spaces in the UK has a positive impact on the physical health of people in the UK and East Lambrook in this case.
In East Lambrook, what is the crime rate?
Within East Lambrook, the number of people committing crimes is 77 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 77 figure carefully.
In East Lambrook, what is the social grade score?
In the city of East Lambrook, the social grade score of the area is 28%. But what does this exactly mean? The figure refers to the proportion of people in the two highest categories of skilled jobs.
The categories are grouped from A to E shown in the table below. Overall, a high social grade score means there are more affluent people working in managerial and professional roles in the area.
This table shows the average breakdown of the UK in terms of where most people in the UK are working so you can compare it to the social grade score of East Lambrook.
| 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 East Lambrook, what are the rental yields?
What is the growth in the housing market of East Lambrook?
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 East Lambrook that shows the growth in recent years.
| 1 year | 3 years | 5 years | |
|---|---|---|---|
| East Lambrook growth rate | 12% | 27% | 26% |
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 East Lambrook is important.
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 East Lambrook. 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 East Lambrook.
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 (Somerset), a regional level (South West) and finally on the level of the city talked about in this article, East Lambrook.
| Average Yield | Average Asking rent | Turnover (rental) | Turnover (sale) | |
|---|---|---|---|---|
| East Lambrook | no relevant data for this city | no relevant data for this city | no relevant data for this city | 12.0% |
| Somerset | 3.77% | £1,175 | 138.81% | 20.04% |
| South West | 3.57% | £1,079 | 132.66% | 17.35% |
You may also find it useful to compare the data above to the number of properties sold per month East Lambrook experiences. This figure for house sales per month is 3. 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.
In East Lambrook, what do houses for sale tend to sell for?
As well as looking at the asking price for house for sale in East Lambrook, 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 East Lambrook.
Houses for sale, are sold on average in East Lambrook, after the influence of these factors, at £312,795 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 5% over the last 10 years.
| Housing category | Total final sale price |
|---|---|
| Aerage sold price (detached) | £405,075 |
| Aerage sold price (semi-detached) | £266,387 |
| Aerage sold price (terraced) | £213,989 |
| Aerage sold price (flat) | no relevant data for this city |
This table above shows the average sale price for each variation of houses for sale in East Lambrook.
| Housing category | Sale price per square foot |
|---|---|
| Aerage sold price/sqft | £2,870 |
| Aerage sold price/sqft (new build) | £2,050 |
| Aerage sold price/sqft (old stock) | £2,730 |
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 East Lambrook is £2,870.
This statistic can be used to compare the price of housing between housing categories again or even compare the price for a different city.
Asking price in East Lambrook for a house for sale
Table showing the asking prices for houses for sale in East Lambrook
| Average asking price (1 bed) | no relevant data for this city |
| Average asking price (2 bed) | no relevant data for this city |
| Average asking price (3 bed) | £436,500 |
| Average asking price (4 bed) | no relevant data for this city |
| Average asking price (5 bed) | no relevant data for this city |
Reading the table above should therefore give you a good idea of the type of house for sale that is within your budget in East Lambrook and if you may need to look at a different area in order to buy the type of house you can afford.
Also, noting the £0 should also give you an overview of what the asking price for houses for sale are in general.
On average, in East Lambrook, the asking price for a house for sale in the area is £447,965.
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 East Lambrook. 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.
Invest in houses for sale in East Lambrook with the right professional advice
Choose the right house for sale that suits your needs
Find here below a list of criteria that we suggest you consider before looking for houses for sale in East Lambrook
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affordability – the UK gov website comes in helpful when you want to understand (see what house for sale you can afford)
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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.
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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.
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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.
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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.
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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
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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?
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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.
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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.
Who should you talk to while going through the process of making an offer on a house for sale?
Several experts specialise in giving advice to property investors or to first time potential buyers.
Since the process of finding the right house for sale can take months, you have all the time to consult with the experts you might need.
Find here a list of those you should contact to get professional guidance and assistance when purchasing a house for sale:
- Lender – This practitioner can lend you money to finalise a house purchase
- Insurer – Insuring companies will provide you with the insurance policy you need to protect the house for sale you want to buy
- Legal representative – This professional is usually there to handle all the legal tasks associated with purchasing a home for sale.
- Surveyor – Carries out and independent valuation on the house for sale based on its conditions. It is very useful to understand the correct price before making an offer
- Mortgage specialist – Mortgage advisors works on commissions. They will get a cut from the bank and will guide you with offering the best deals given your financial situation
- Energy assessor – We strongly suggest you to invest in a professional assessment of the Energy Performance of the house for sale you want to purchase
Are you considering other cities with houses for sale?
Below are a list of towns with a similar location to East Lambrook.
Reading these analysis will help you evaluate the different houses for sale currently listed in South West:
- Dorchester in South West
- Altarnun in South West
- Badminton in South West
- Barnstaple in South West
- Yeovil in South West
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.
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