New Build Investor Guide – Lambeth, London
Apr 2021
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Our Area Guides give you the latest relevant information from local governments, the Census and the Office of National Statistics (ONS) data. They’re designed for offshore, new build property investors to help you understand an area in detail so you can make informed investment decisions.
Read on for investor details specifically about Brent but if it’s more detail about the wider UK property market you need, you can download our latest report here. In our report we address two key questions:
1 Is investing in UK residential property still worth it?
2 If so, where are the best opportunities for property investors and why?
Lambeth, London
Lambeth is one of 12 inner London boroughs and is located in south London. Spanning over 10 miles², Frazer Street (near Lambeth North station) is the geographical centre of London and lies immediately south of the river Thames. The borough also borders Southwark, Croydon, Merton and Wandsworth. It’s home to the Royal National Theatre on the South Bank and the London Eye . It includes the districts of Lambeth, Vauxhall, Kennington, South Lambeth, Stockwell, Brixton and large parts of Clapham, Balham, Streatham and Norwood.
Demographics
Lambeth’s population is forecast to grow by 4% by 2030
| Population (2018) | 334,724 |
| Forecast Population 2030 | 347,007 |
Source: data.london.gov.uk
Economically Active Population
A largely young, diverse, mobile population.
| Age Range | Percentage of population |
| 16 – 64 | 75% |
| Under 15 | 17% |
| Over 65 | 8% |
| Martial Status: | |
| Single | 58% |
Source: data.london.gov.uk
Average Life Expectancy
The average life expectancy for those born in Kensington and Chelsea between 2016 and 2018 is the second longest in London for both males and females.
| Males | 79 |
| Females | 84 |
Source: ons.gov.uk
Population Density (2011)
Lambeth is the 7th most densely populated local authority in England, with 12,156 people per km2.
Source: ons.gov.uk
International Migration (2018-19)
5,985 new residents from overseas, the 11th highest of all London boroughs.
Source: ons.gov.uk
Country of Birth
| Location of Birth | Proportion of Population |
| UK and Ireland | 63% |
| EU | 11% |
| Other countries | 26% |
Source: data.london.gov.uk
Crime & Safety
| Crime Numbers (April 2017 – March 2018) | 34,191 |
| Crime rate per 1,000 population (April 2017 -March 2018) | 104 |
| Kensington and Chelsea has the 10th highest crime rate per 1,000 people of all London borough’s |
Source: data.london.gov.uk
Education
Schools
| Primary Schools | 71 (27 of which have an Ofsted rating of outstanding) |
| Secondary Schools | 29 (8 of which have an Ofsted rating of outstanding) |
| Schools and Colleges (16-18 years) | 28 (8 of which have an Ofsted rating of outstanding) |
Source: compare-school-performance.service.gov.uk
Universities
City & Guilds of London Art School
Hospitals
The Lambeth Hospital
St Thomas’ Hospital
General Wellbeing
| Population considering themselves in very good health | 53% |
| Population considering themselves in very bad health | 1% |
Source: data.london.gov.uk
Employment & Economy
81% of working aged people employed (compared to 75% across England 74% across London).
Top 4 Sectors of Employment
| Finance, banking and insurance | 33% |
| Public administration, education and health | 30% |
| Transport and communication | 11% |
| Distribution, hotels and restaurants | 10% |
Source: data.london.gov.uk
Major Employers
In 2020, there were over 50 companies the borough employing more than 250 people and 160 companies employing between 50 and 249 people. (source: nomisweb.co.uk)
Jobs and Job density
Aproximately 36,385 residents of Lambeth also work in the borough. 76,650 people travel into the borough each day for work and 94,272 residents work outside the borough. The daytime population of borough therefore decreases by 17,622 people each day. (source: data.london.gov.uk).
| Median Gross Annual Pay for full-time employee jobs (2017) | £31,365 |
| Number of jobs in the borough (2019) | 92,000 |
| Jobs per resident | 0.49 (London average 1.03 and UK average 0.87) |
Source: nomisweb.co.uk and data.london.gov.uk
Housing
| Number of residential properties in Lambeth | 140,390 |
Source: data.london.gov.uk
Property Ownership (2018)
| own property outright (no mortgage) | 17% |
| own property with mortgage | 25% |
| rent from a Housing Authority or the Local Authority | 34% |
| rent from a private landlord (representing approximately 33,300 private rentals) | 25% |
Source: data.london.gov.uk
| Household with no car or van (2011) | 58% |
Source: nomisweb.co.uk
Household Composition
| One person households | 34% |
| One family households | 45% |
| Other (sharers / students etc) | 21% |
Source: nomisweb.co.uk
Average House Prices
House prices in Lambeth are the 13th most expensive of all London boroughs.
| Average achieved price January 2020 | £523,157 |
| Average achieved price January 2021 | £542,466 |
| Increase/Decrease | +3.7% |
Source: www.gov.uk
Volume of Sales
During the COVID pandemic, the number of property transactions fell by 23%. The 10th largest decline of all London boroughs.
| Number of residential sales to year ending September 2019 | 3,420 |
| Number of residential sales to year ending September 2020 | 2,623 |
Source: ons.gov.uk
Achieved Rents (January to December 2020)
Mean monthly average rents in the borough:
| London Median Rents (per calendar month) |
Lambeth (per calendar month) |
|
| Studio | £950 | £1,127 |
| 1 bedroom | £1,200 | £1,495 |
| 2 bedrooms | £1,450 | £1,699 |
| 3 bedrooms | £1,750 | £2,275 |
Source: london.gov.uk
The Oxo Tower and London eye on the Southbank.
New Build Developments in Lambeth
Several notable developments in Lambeth are currently on the market, many of which have been launched in Asia and the Middle East.
Southbank Place (Qatari Diar / Canary Wharf Group)
| Total Number of Apartments | 877 (779 private) |
| First Launched | September 2015 |
Average Prices – Southbank Place
| Minimum | Average | Maximum | |
| Price | £625,000 | £2,792,935 | £15,570,000 |
| Price per ft² | £1,404 | £2,190 | £4,078 |
| Area (ft²) | 394 | 1,164 | 3,862 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £625,000 | £721,000 | £625,000 |
| 1 Bedroom | £780,000 | £988,677 | £780,000 |
| 2 Bedroom | £1,525,000 | £2,471,548 | £1,525,000 |
| 3 Bedroom | £3,510,000 | £4,806,458 | £3,510,000 |
source: Molior
Oval Village (Berkeley)
| Total Number of Apartments | 586 (406 private) |
| First Launched | February 2019 |
Average Prices – Oval Village
| Minimum | Average | Maximum | |
| Price | £543,000 | £830,402 | £1,560,000 |
| Price per ft² | £971 | £1,226 | £1,458 |
| Area (ft²) | 423 | 684 | 1,103 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £543,000 | £567,677 | £590,000 |
| 1 Bedroom | £606,000 | £692,688 | £772,000 |
| 2 Bedroom | £867,000 | £945,400 | £1,050,000 |
| 3 Bedroom | £1,071,500 | £1,344,125 | £1,560,000 |
source: Molior
DAMAC Tower (DAMAC)
| Total Number of Apartments | 450 (350 private) |
| First Launched | July 2015 |
Average Prices – DAMAC Tower
| Minimum | Average | Maximum | |
| Price | £921,000 | £2,209,716 | £14,267,671 |
| Price per ft² | £1,523 | £2,204 | £3,938 |
| Area (ft²) | 484 | 958 | 3,742 |
source: Molior
| Minimum | Average | Maximum | |
| Studio | £921,000 | £1,008,879 | £1,181,000 |
| 1 Bedroom | £985,000 | £1,172,186 | £1,500,000 |
| 2 Bedroom | £1,430,000 | £2,089,058 | £2,768,823 |
| 3 Bedroom | £2,855,000 | £4,308,323 | £5,971,000 |
source: Molior
Clapham Place (Regal London)
| Total Number of Apartments | 62 (50 private) |
| First Launched | April 2020 |
Average Prices – Clapham Place
Pricing below relates to three bedroom apartments only. Data not available for smaller apartments.
| Minimum | Average | Maximum | |
| Price | £845,000 | £973,000 | £1,025,000 |
| Price per ft² | £866 | £891 | £920 |
| Area (ft²) | 918 | 1,094 | 1,138 |
Source: Molior
Environment & Leisure
Lambeth has a host of world famous attractions and leisure facilities including:
The London Eye
The Royal Festival Hall
The National Theatre
The Old Vic Theatre
The Southbank
Lambeth Palace
Brixton Market
Streatham Ice Rink
The London Aquarium
Southbank Skate Park
The Oval Cricket Ground
10 libraries
3 swimming pools
4 public gyms
25 parks and gardens
Transport
Lambeth’s underground and overground stations are in Zones 1 and 2.
Overground Stations
| Brixton | Clapham High Street |
| Gipsy Hill | Herne Hill |
| London Waterloo | London Waterloo East |
| Loughborough Junctions | Streatham |
| Streatham Common | Streatham Hill |
| Tulse Hill | Vauxhall |
| Wandsworth Road | West Norwood |
Underground Stations
| Brixton (Victoria line) | Clapham Common (Northern line) |
| Clapham North (Northern line) | Lambeth North (Bakerloo line) |
| Oval (Northern line) | Stockwell (Northern and Victoria lines) |
| Vauxhall (Victoria line) | Waterloo |
Local Government
The Labour Party
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