8, Lakedown Close, Birmingham, West Midlands, B14 5QY See map
8 Lakedown Close is a 650-square-foot [1] flat with an estimated price today of £25,000.
Since the property was last sold in November 2022 for £25,000, its value has not changed.
House Price Trends
Sold house prices and house price trends over time
Property Details
Flat features, location, and investment performance
8 Lakedown Close is a flat with a leasehold tenure. A 2018 survey recorded the property as having 650 square feet of floor space and an expected layout of 2 bedrooms and 1 reception room. The property was built in 1976-1982.
The property hasn't yet generated much in the way of returns for its owners. Since its first recorded sale, the flat's price has fallen 2% per year on average, but in the last year, it has risen 6%.
8, Lakedown Close, Birmingham, West Midlands B14 5QY
Sold House Prices
Timeline of sold house prices and cost per square foot
Since 8 Lakedown Close's first recorded sale in 2003, the flat's price has fallen by £12,500 or 2% per year.
During the same period, the price of an average home on Lakedown Close increased by £21,000 or 3% per year, and the average UK home increased by 7% per year.
- Current valuation£25,000
Flat leasehold, £38 per square foot
+ 0% - Sold November 2022£25,000
Flat leasehold, £38 per square foot
- 33% - Sold January 2003£37,500
Flat leasehold, £58 per square foot
House Price Comparison
Comparison of local and national house prices
House Prices in Lakedown Close start at £25,000 for the cheapest property on the street, rising to £83,000 for the most expensive.
8 Lakedown Close is worth 59% less than the £61,000 average property on Lakedown Close and 92% less than the £296,000 UK average home.
Compare Average Flat Prices in England and Wales
Energy Efficiency
Energy usage and efficiency compared to the average flat in England and Wales. Figures from a 2018 survey
Recently sold on Lakedown Close
View allValuation details
Property valuation details and commonly asked questions
- Is the 8 Lakedown Close valuation rising or falling?
- Can I afford to buy 8 Lakedown Close?
- How is the 8 Lakedown Close investment score calculated?
- How does the size of 8 Lakedown Close compare?
- How is the 8 Lakedown Close valuation estimated?
- Where are the figures sourced?
- What if the details are incorrect?
Is the 8 Lakedown Close valuation rising or falling?
The 8 Lakedown Close valuation estimate has risen in the past year, increasing by 6% or £1,450.
Can I afford to buy 8 Lakedown Close?
What property you can afford will depend on your financial situation and estimates of how much you can afford to borrow for a mortgage. Mortgage lenders use different rules to calculate how much you can borrow and what interest you will pay.
For example, if a mortgage lender allowed you to borrow 4.5x income and you could afford a 30% deposit of £7,500, then your annual income would need to be at least £3,889 to meet 8 Lakedown Close's current valuation of £25,000.
How is the 8 Lakedown Close investment score calculated?
The investment score measures historic short-term and long-term house price trends.
Properties with high long-term and short-term returns will have the highest scores. Equally, properties with negative returns will have a lower score.
Past performance, however, does not guarantee future returns, and price rises may have been due to extensions or other improvements to the property.
How does the size of 8 Lakedown Close compare?
The flat has 650 sq ft of internal floor area, which is 32% smaller than the 950-square-foot average UK home.
How is the 8 Lakedown Close valuation estimated?
A house or flat valuation is estimated using sold prices and house price trends of similar properties in the area.
Each valuation uses our Repeat Sales House Price Index, which tracks price trends in large areas such as cities or towns. We use the index and local price trends (e.g. price increases in a street or postcode) to estimate property value.
The value estimates are most accurate when a property has sold recently and when there are similar properties nearby.
A valuation can, in some cases, be inaccurate. For example, if there have been significant changes to a property since it was last sold (e.g. an extension).
We try to make the valuations as accurate as possible, but they are estimates. When buying or selling property, you should speak to a qualified professional.
Where are the figures sourced?
Sold house prices and property types/tenures are from HM Land Registry.
There is a time delay in property sales appearing in HM Land Registry, which can be up to three months.
[1] Other property details, such as energy efficiency, are estimates from a 2018 property survey.
What if the details are incorrect?
We generate all our property valuations programmatically. They cannot be manually edited based on new information, such as evidence of redevelopment.
If sold property prices or property types are incorrect, you should verify them with HM Land Registry. You can notify HM Land Registry of any errors.
If any other property details are incorrect or out-of-date, they will update automatically when next surveyed.
You can verify property details related to energy efficiency.