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 the wings.

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. 


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