The Derby property boom is over! Finished. Kaput! Or is it?

Put the streamers and silly hats away, the party that was ‘The Derby Property Boom’ is over. During the last 3 months, property values have only risen by 0.3%. So surely this is doom and gloom time isn’t it?

Well, no actually! The Derby housing marketing is entering a new phase. It has been through the 2001 to 2007 boom, a bust in 2008 and 2009 and a recovery cycle since 2012, and as we head into 2015, a year that will see the formation of a new Government, we are now entering a more stable, yet still challenging era.

As I said to a landlord from Little Eaton, who recently changed agents to us, in the East Midlands, (especially the big cities like Nottingham, Leicester and our own Derby) we are all facing a housing crisis, because in the East Midlands – with its high employment rates, excellent quality of life, and rapidly growing strengths in a range of sectors - it is becoming a victim of its own success. People want to live here but nobody wants to build on greenbelt. With planners not willing to give planning permissions for thousands of new properties that are required for our ever growing Derby population, accommodation in the City is in ever greater demand whilst supply remains worryingly slow to come through.

Just because property prices have levelled off in Derby, doesn’t mean the housing market is ready to jump off a cliff. I actually see this as a good thing, in fact, for the savvy landlord, a blessing in disguise. If you think the housing market is done and dusted for 2014, think again. This is the perfect time to snap up a bargain. Despite recent mild weather, chill winds are hitting parts of the market now. This means every seller has three strong reasons to get their business done this side of Christmas. You see, as a landlord with cash in your pocket, ready to buy the next buy to let investment, you can get a bit of a bargain at the moment. We have seen it in Derby as a seller’s market for 12 months, but as the pressure mounts for property sellers to sell, the market has tipped.

Another reason sellers want to do a deal as soon as possible is the uncertainty surrounding the general election in the coming Spring. In the past, the prospect of an election means buyers hold back until they know how their income and tax might be affected. But for the brave landlord, it’s a chance to look at properties with fewer rival landlord purchasers waiting in the wings. Just as many Derby landlords do now, whether they use us to manage the property or not, feel free to email any Rightmove link on any Derby property you are looking at, and I will always give you my unbiased opinion.

I pride myself by knowing the market with all its ups and downs, so I can give some great advice and opinion. It might not be what you want to hear but, I can assure you,it is what you need to hear!

      

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