Thursday, 7 August 2014

Belper – the place to buy a buy to let?




One of the final chunks of census data has recently been released by the Government, and for those of you that like to look at the data, it is a treasure trove of information. Information is so important when making decisions on what (or not) to buy when investing in property. The census data allows anyone to look at the data for villages, towns, housing estates, even down to individual roads. Such information allows us to weigh up potential hotspots in the rental market and show potential landlords where there could be an opportunity.
 

After chatting with landlord from Kilburn, I wanted to share with you some of the information I found out about Belper from the local census and how it helped him decide where to buy his next buy to let property. In Belper, there are 21,823 people living in 9,981 properties in the town. That means 1,275 new people live in the town as the population was only 20,548 in 2001.

However, it is the home ownership percentages that really get me interested, as it is this information, tied in with our intimate knowledge of the market, where we can match tenant demand to an under supply of rental properties. In 2001, there were only 8,788 households, so there have been nearly 1,200 houses built. At that time, 6.37% or 560 households were privately rented. You can see over half of those new homes have been bought by landlords, as, in 2011, the number privately rented properties had shot up to 1,119 properties.

 
So do we have over saturation? No, quite the opposite in Belper. The national average is 15.6% of households being rented, and in nearby Nottingham, it’s in the early 20%’s. Belper has a modest 11.8% of its households being privately rented. As it’s a great place to live and still very affordable, with such excellent demand from tenants but a below average percentage of available rental properties, this could be the right area to purchase your next buy to let investment.


Therefore, if you are considering buying a property for investment in the near future, as I don't sell property, I am always happy to give you my considered opinion on which property to buy (or not as the case may be) to give you what you want from your investment. If you are a landlord, new or old, we’re certainly more than happy for you to pick up the phone or email me direct on lettings@sprucetree.co.uk

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