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.