Last
week, a landlord who lives in Towcester came in to our office to discuss the
rising property values in Northamptonshire. He owns a varied portfolio of
rental properties, primarily in Northampton and Rugby with one in Towcester, so
it is interesting to compare the increase in property values around the area.
Over
the last 12 months in Northampton average property values have risen from £198,300
to £212,300, a rise of £14,000 or £269 per week. When I looked at some of the
surrounding areas, Rugby has had a lower average increase in property values,
at around £225 per week, whilst Towcester has had an even lower increase of
around £178 per week.
However,
when one looks at the percentages, Northampton has performed even better,
rising by 7.1% in the last 12 months, compared to Rugby at 5.9% and Towcester’s at 3.08%! It is, nonetheless, a
rise in all the town’s average property values which suggests the market is increasing
steadily in our area, but especially Northampton– good news for home owners and
landlords alike.
When
considering this landlord’s buy to let portfolio, yields can be in the order of
an average 4% to 7% per year, depending where you buy, so combine that with
steady rental growth, excellent increases in capital values of the properties
themselves and it could be a good time to invest in the property market in Northampton
as property values start to rise.
If
you would like some advice about buying to let, be you a landlord with a
portfolio or someone thinking of investing in the rental market, please come
and see us at our office on Wellingborough Road, Northampton, or email us at Northampton@northwoooduk.com or telephone us on 01604 60 70 80.
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