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, 3 December 2015
Shipley View Estate, Ilkeston – Property everywhere but none to rent?
I was recently asked why there are so few properties to rent
on the Shipley View Estate. I did some research and found that since the beginning
of 2015, only twenty five properties have been available for rent on the Shipley
View Estate, one of Ilkeston’s most popular housing estates. Now whilst the
market may be starting to slow a little now as we approach Christmas (which
starts for many around the 18th December!), as more people focus on the
holidays, many of the properties that have been to let on the Shipley View
Estate this year have let in typically 2 to 3 weeks, proving it’s popularity.
As we speak in early December 2015 there are several 2-beds
available but they haven’t been on the market for long – all less than two
weeks - and probably won’t remain so! So the fact is that actually there is
property to rent on the estate – tenants just have to be quick about reserving
theirs when they come up.
We can help you identify property values and other useful
property related information to make sure you can get everything you need about
your future investments. Here are just a few property facts about Ilkeston…
The average house price is around £142,500, and the average
income of someone living in Ilkeston is £18,530 per year. Price to earnings
ratios are effective measures of the relative affordability of property in a
given area (the higher the number – the more expensive it is to buy). In Ilkeston
it is the ratio is 7.69 compared to 8.75 across all of Derbyshire and 11.21
nationally. Of course these ratios are dwarfed by those in places such as
Kensington & Chelsea where the ratio is a staggering 46.94!