Information is so important when making decisions on what
(or not) to buy when investing in Amber Valley property. The demand for rental
properties is much greater than the supply and in some circumstances, we have
four to five prospective tenants for each decent property. As always the demand
is much greater for properties that are in good areas. Also, we are noticing
that tenants are staying longer in their chosen property with some tenants
signing for the third and fourth years. This is obviously causing problems from
the supply side so we are relying on new investment Landlords to bring in some
new properties.
Today, I want to look at Heanor. By knowing the different areas of Amber
Valley, I can weigh up potential hotspots in the rental market and show
potential landlords where there could be an opportunity. The overall average price
of a property in Heanor presently stands at £120,500 which as one would expect
is cheaper than nearby Smalley at £189,100, Codnor at £132,900 and Horsley
Woodhouse at £161,100. Interestingly,
prices in Heanor are 5% up on 12 months ago and still only 6% down from the
boom of 2007 when they averaged at £128,100.
In Heanor, there are 25,480 people living in 10,820
properties. It is the home ownership percentages that really got me interested,
as it is this information, tied in with our intimate knowledge of the market,
where we can match tenant demand to an under supply of rental properties. In Heanor,
of those 10,820 households, 71.2% own
their property (compared to the Amber Valley average of 74.1%).
There are only 1,242 rented properties in Heanor that are in
the private rented sector (11.4% of Heanor properties are privately rented compared
with the Amber Valley average of 10.7%). The reason the private rental sector
is much lower is that Heanor has a high proportion of homeowners and hardly any
local authority housing. The properties do sell well, in fact 861 properties
have changed hands since 2009. However, with such excellent demand from
homeowners and tenants, this could be the right area to purchase your next buy
to let investment.
Therefore, if you are considering buying a property for
investment in the near future, as I don't sell property, I am always happy to
give you my considered opinion on which property to buy (or not as the case may
be) to give you what you want from your investment. If you are a landlord, new
or old, I am certainly more than happy for you to pick up the phone or visit
the Spruce Property Blog www.heanorpropertyblog.co.uk
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