Thursday, 3 July 2014
Property Values along the A6007
A few weeks ago, I said that property values in our part of Derbyshire had risen on average by 3.13% in the last 12 months but that could be split down to the different towns so, for example, Ripley had only risen by 2.9% whilst at the top end whilst Eastwood’s had risen by an impressive 5.2% in the same 12 months.
Anyway, I had a landlord ring me a few weeks ago after reading one of our Property Newsletters, asking about the smaller towns and villages in our area, in particular a couple of the towns/villages along the A6007.
An overlooked road in the area, the A6007 is often seen as nothing more than a local Erewash link road really. However, the A6007 links Stapleford with Ilkeston, Heanor and Codnor - though anyone wanting to go between the end points would surely use the A52, M1 or A610.
Starting at the Southern end, Stapleford has seen values increase by 3.2% in the last 12 months, taking an average property to £130,300. New figures for Ilkeston show that values have jumped tremendously in the last 12 weeks. The dip of early of 2013 has worked its way out of the system, and now property values in Ilkeston see themselves 5.9% higher than a year ago (over half of that increase being in the last 12 weeks).
Heanor makes fascinating reading, as values in the later part of 2013 shot up, only to drop again around Christmas ever so slightly. Heanor property values are still 0.2% lower than they were at the back end of 2013 (but not to worry, Heanor values are still 8% higher than they were in 2009!).
Finally, as we reach the last town, Codnor, this town has seen average values increase by £3,300 in the last 12 months, taking an average property up in value by 2.65% to £129,200
I can only see greater demand for rental properties in the whole of Amber Valley, Erewash & Broxtowe which will mean more people will continue to buy property for buy to let and, where there is greater demand, the price tends to go up. This, however, is only my opinion. If you want to chat about any matter relating to property in Amber Valley, Erewash & Broxtowe, give me a call on 01332 910499 or email me on email@example.com