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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