It might surprise some readers that the average rent, that
tenants have had to pay for a rental property in Belper, are on average, 2.5%
lower than they were in 2008. Average rents in Belper in 2008 were £603 per
month but now they stand at £589 per month. That doesn’t tell the whole story
though.
Interestingly, nationally and regionally, rents dropped by
around 10% to 15% a year later by 2009, depending where you lived. However, the
Amber Valley, Broxtowe and Erewash bucked that trend, with rents in Belper only
dropping by 5% to £575 per month. They did drop another 2% in 2010,
taking the average down to £561 per month.
However, 2011, saw a slight rise, with the average going up
to £571 per month and maintaining in 2012 at £570 per month. This is all still
despite the squeeze on Belper wages. Demand has remained good, mainly in part
to the demand of tenants from Derby, Chesterfield and Nottingham who are happy
to commute. There are still plenty of tenants willing to pay for well
maintained properties in great locations.
As we go into the Summer of 2014, average rents in Belper
stand at £589pm. From a landlord perspective, the steady rise in rents is good
news, as are steady rising property prices. Interestingly, property values in
Belper have seen a rise of over 0.9% in the last 12 months.
If you are thinking of buying your first (or second) buy to
let property and want to pick my brain on what (and what doesn’t) make a good
investment and, as I don’t sell property, I can look at the whole of the
market and give you my honest opinion.
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