Derby’s property market has outperformed Bakewell’s by over 117%

Within Derbyshire we have many towns and  areas that make up our fine County, from the more up market areas of the Hope Valley, Bakewell and Ashbourne all the way to the working class, no nonsense areas of the Amber Valley and Erewash.

In fact, I have a  few landlords from Bakewell; one in particular has a decent portfolio of buy to let property in Bakewell and Derby.

Let’s be honest, Bakewell is a sophisticated  market town which enjoys a well-earned reputation for stylish and convenient living close to abundant countryside and commons. The thriving High Street, offers a comprehensive range of upmarket shopping facilities and the schools in are highly sought after having   excellent Ofsted results. All these factors make the average value of a property in Bakewell around £354,300.

Our city of Derby has an excellent choice of shops, banks and restaurants, but quite different to those of Bakewell’s. Our city offers excellent rail and road links and there is a good choice of schooling within the area, including Derby High School, Derby Grammar and Littleover Community and a number of decent primary schools. All these factors make the average value of a property in Derby around £175,200.

In the last 12 months, the average value of a property in Bakewell and Derby has risen by roughly the same amount; (Bakewell £11,400 and Derby £11,700). However, that doesn’t tell the whole story, because average property values are much lower in Derby.
As a percentage, values in Bakewell have increased by a modest 3.3%, but in Derby they have increased at more than double that rate, in fact 117% proportionally more at 7.1%. It shows that Derby is a town that people want to invest in.

Just to show it isn’t just a fluke, looking at Ashbourne, another neighbouring market town. Prices have only risen by 4.9% in the last year and Matlock have seen values increase by just over 4.6%.

By keeping an eye on the local market, I am able to judge if a property is good value to buy for a landlord. I give this advice and opinion at no charge to anyone who asks, be they an existing landlord of ours, or indeed, another agent. I will also give it to anyone considering becoming a buy to let landlord for the first time. I do not charge for this service, because if I offer you an honest and straight forward opinion, you may consider using me to manage your property. However, I must stress there is no obligation to do so.

PS .. before you get the Champagne on ice.... spare a thought for Buxton property owners who have seen their values increase by 12.3% .. It must be all that water they drink!

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