DERBY PROPERTY PRICES INCREASE BY £93.26 PER WEEK

Whilst at the Graham Penny Auction last Friday I got chatting to a landlord about the rising property values in Derby.

He owns a varied portfolio of rental properties, primarily in Derby with a couple in Swadlincote and Ilkeston, so it is interesting to compare the increase in property values around the area.

Over the last 12 months the average property value in Derby has risen by nearly £4,750, from £159,800 to £164,650. This is a very reasonable 3% increase, which if you look at it on a weekly basis, average property values in Derby, throughout 2013, have increased by an impressive £93.26 per week. When we looked at the values for detached houses in Derby, this average increase is even greater at £7,100, a rise of £136.53 per week.

When I looked at some of the surrounding towns, Ilkeston has had a lower average increase in property values, at around £86.88 per week, whilst Swadlincote has an even more modest average increase of around £64.75 per week. It is, nonetheless, a rise in average property values to suggest the market is recovering steadily in our area – good news for home owners and landlords alike.
When considering this landlord’s buy to let portfolio, the rental values have remained fairly stable during the 12 months. They are slowly recovering to the average of around 5 years ago, therefore it could be a good time to invest in the property market in Derby.

If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in rental market, please come and see me at our office on St James Street.

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