In other articles I have discussed the differences in the
rent that could be achieved from properties in the villages around Ilkeston,
compared to the town itself. However, I didn’t mention the average values in
both and how that affected their annual returns/yields.
The average terraced house in Ilkeston is worth around £98,000,
whilst terraced houses in the surrounding villages, such as West Hallam, Stanley,
Mapperley, Smalley and Horsley Woodhouse, are worth around 34% more with an
average in the region of £131,500. A similar, although not so pronounced
difference, was found for the value of an average semi-detached house worth
£125,000 in the town, with the value increasing by 17% in the villages at £146,000.
For a detached house in the town, you can pay approximately £221,000. This value
is increased by 11% in the surrounding villages, with average values of £246,000.
If you are a landlord who is looking to buy property to let,
before you buy in West Hallam or any DE7 6 village, you should consider the
possible annual returns/yields. In the villages the yields are quite low, at
around 4%, compared to around the 5+% annual yield you may receive from
properties in town.
Specifically in West Hallam though we have recently had a
spate of rentals – all of which have rented well (some positively flying out
the door!) and also enquiries about the rental prospects of other properties in
the village – so things are looking good for the village-landlord.
So if you would like any advice when choosing properties,
you may come and see us at our offices.
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