Thursday, 27 August 2015
Belper Property Values have Increased by £200.25 per week
Last week, a landlord came in to our office to discuss the rising property values in Belper. He owns a varied portfolio of rental properties, primarily in the Belper area, so it is interesting to compare the increase in property values around the area.
Over the last 12 months the average property value in Belper has risen by nearly £10,500, from £211,000 to £221,500. This is a very reasonable 4.9% increase. When we looked at the values for detached houses, this average increase is even greater at £18,300, or 6.5%. This is a considerable average increase of £351.92 per week.
When I looked at some of the surrounding towns, Derby has a lower average increase in property value, at around £63.11 per week, whilst Nottingham has a more modest average increase of around £56.21 per week. It is, nonetheless, a rise in average property values to suggest the market is recovering in our area.
When considering this landlord’s buy to let portfolio, the rental values across the East Midlands have increased by about 6% over the last12 months, therefore it could be a good time to invest in the property market in Belper.
If you would like some advice about buying to let, please come and see us at our office.