Thursday, 1 May 2014

Property Market : Ilkeston vs Heanor vs Eastwood vs Belper



Last week, a landlord who lives in Smalley rang me up to discuss the rising property values in the Amber Valley and Erewash areas. He owns a varied portfolio of rental properties in Derbyshire, primarily in Ilkeston, Heanor, Eastwood and Belper, so it is interesting to compare the increase in property values around the area.


Over the last 12 months, in Ilkeston, average property values have risen from  £127,750 to £133,200, a rise of just over £5,450, or £104 per week. When I looked at some of the surrounding areas, Eastwood’s property values increased from £105,900  to £111,500, a rise of £107 per week. Belper came in next with property values rising from £190,700 to £198,600, a rise of £152 per week. Finally though, it was Heanor’s property values that saw the biggest jump, with an average property value rising from £121,900 to £132,200, a rise of £198 per week. A rise in all the town’s average property values suggests the market is recovering steadily in our area – good news for home owners and landlords alike.


Next week we will look at how values have risen in our area, both recently and since the property crash of 2008. In the meantime, when considering this landlord’s buy to let portfolio, yields can be in the order of 5% to 7% per year, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves, it could be a good time to invest in the property market in Amber Valley and Erewash as property values start to rise?

 
If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please ring me on landline number 01332 910499 or email on lettings@sprucetree.co.uk
 

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