This blog follows the buy-to-let market in Ilkeston, Eastwood, Heanor and Belper. You'll find properties on here that may make decent investments. You'll also find tips, guidance, and analysis that relates specifically to these two towns. I operate Spruce Tree Lettings, opened since 2009, in all these towns, so if you're thinking of buying a property to let in either Ilkeston, Eastwood, Heanor or Belper, I'm happy to offer a second opinion.
Thursday, 5 February 2015
Amber Valley, Broxtowe and Erewash : What Property Boom?
Put the streamers and silly hats away, the party that is
‘The Amber Valley and Erewash Property Boom’ is over. Over the last couple of
months, property values have only dropped by 0.1%. So is it doom and gloom for
the local property market in our part of Derbyshire? Well, no actually because
the Amber Valley and Erewash housing marketing is entering a new phase. It has
been through the 2001 to 2007 boom, a bust in 2008 and 2009 and a recovery cycle
since 2012, and as we head into 2015, a year that will see the formation of a
new Government, we are now entering a more stable, yet still challenging era.
As I said to a landlord from Belper, who recently changed
agents to us, in the East Midlands, (especially the big cities like Nottingham,
Leicester and our own Amber Valley, Broxtowe and Erewash) we are all facing a
housing crisis, because in the East Midlands – with its high employment rates,
excellent quality of life, and rapidly growing strengths in a range of sectors,
it is becoming a victim of its own success. People want to live here but nobody
wants to build on greenbelt. With planners not willing to give planning
permissions for thousands of new properties that are required for our ever
growing Amber Valley and Erewash population, accommodation in Derby city is in
ever greater demand whilst supply remains worryingly slow to come through.
Just because property prices have levelled off in Amber
Valley, Broxtowe and Erewash, doesn’t mean the housing market is ready to jump off a
cliff. I actually see this as a good thing, in fact, for the savvy landlord, a
blessing in disguise. If you think the housing market is done and dusted for
2014, think again. This is the perfect time to snap up a bargain. Despite recent
mild weather, chill winds are hitting parts of the market now. This means every
seller has three strong reasons to get their business done this side of Easter.
You see, as a landlord with cash in your pocket, ready to buy the next buy to
let investment, you can get a bit of a bargain at the moment. We have seen it
in Amber Valley, Broxtowe and Erewash as a seller’s market for 12 months, but as the
pressure mounts for property sellers to sell, the market has tipped.
Another reason sellers want to do a deal as soon as possible
is the uncertainty surrounding the general election in the coming Spring. In
the past, the prospect of an election means buyers hold back until they know
how their income and tax might be affected. But for the brave landlord, it’s a
chance to look at properties with fewer rival landlord purchasers waiting in
As we don’t sell property, we can give an objective opinion
on what (and what doesn’t) make a good property deal in Amber Valley, Broxtowe and
Erewash). Just as many Amber Valley and Erewash landlords do now, whether they
use us to manage the property or not, feel free to email any Rightmove link on
any Amber Valley, Broxtowe and Erewash property you are looking at, and I will
always give you my unbiased opinion.