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, 28 May 2015
Eastwood Property - Do you know the Facts and Figures?
Here at Spruce Tree Lettings, we can guide you to the right
places to identify property values and yields in Eastwood and other useful
property related information so you can make sure you get all the information
you need about your future investments. Here are just a few property facts
about our town of Eastwood....and the surrounding areas, including Kimberley,
Nuthall, Underwood and Selston.
There are 146 streets in Eastwood and 959 streets in the
total NG16 postcode area with just over an eighth of all those houses (3,782 to
be precise) having changed hands since 2010. In those 5 years average house
prices in the Eastwood area have risen by some 8%, and by nearly 2% over the
last 12 months, and currently stand at around £148,000.
Most investors tend to buy semis, terraced houses or flats –
so looking at the average values for these we see they stand at around £120,000;
£90,000 and £105,000 respectively, still below the stamp duty threshold – so
plenty of scope for good value investment in the area.
Compared to the national average - Eastwood has 76% more
detached houses, 22% more semi detached houses, 25% less terraced houses and 93%
less flats. This is a good indicator that Eastwood and the surrounding NG16
postcode area is a good place to buy property in.
If you would like more useful facts and figures send me an
email or pop in to see us at our offices.