Thursday, 14 August 2014
Erewash, Broxtowe and Amber Valley – Battle of the Postcodes?
I was asked last week if postcodes make a difference to property values. Well in swanky West London, the difference between SW3 and SW10 can make values drop or rise by hundreds of thousands of pounds. However, in Erewash and Amber Valley, we don’t have many Russian Oligarchs and Saudi Prince’s buying multi million pound properties. However, I thought it would be a good idea to look at the different postcode areas in Erewash and Amber Valley and, after doing some investigating, I did find out some interesting info which I would like to share with you.
Four of the main postcodes of the areas are DE7 (Ilkeston + villages), DE75 (Heanor and the immediate villages), DE56 (Belper and the immediate villages) and NG16 (Eastwood and the immediate villages). Over the last five years, since 2009 (which was the year after the property slump of 2008) most property values in all of the postcodes mentioned have risen by 7% to 8% across the board. However, how each postcode area’s property values has got there, has been a completely different story.
By 2010, property values in the DE postcodes of DE7, DE75 and DE56 rose by 6.5%, 6.7% and 6.8% respectively, whilst Eastwood’s NG16 only rose by 4%. 2011 the tables were turned as Eastwood property values dropped by 0.9%. Not good in anyone’s books, but when compared to the Derby trio of postcodes, they slumped a lot further with DE75 dropping 6%, DE7 by 5.8% and DE56 by 5.1%. One year later in 2012 and our Derby trio recovered well, starting with DE56 where property values rose by 2.3%, then DE7 by 3.1% and DE75 by 3.8% but Eastwood’s NG16 property values dropped ever so slightly by 0.8%.
2013 was a level playing field, with all postcodes seeing an almost equal growth of 1.5% to 1.8% increase. Finally though, as we are over half way into 2014, values have seen another push in NG16 of 4.5%, whilst DE7, not wishing to be hard done by, have put in a decent effort with property values increasing by 3.6%, leaving DE75 and DE56 putting in a respectable increase of 1.5% each.
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 area or 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, with us with someone else, just pick up the phone on 01332 910499 or email on email@example.com