Should you be investing in Newark or Grantham when it comes to property? Both towns are similar in size and, taking into account the surrounding villages, have similar average property values.
The average property value in Newark is £164,000 and in Grantham is £161,300, whilst the average rents are also similar at £683 per month in Newark and £675 per month in Grantham. This gives both towns an almost identical average yield of 5%. I have done a little research to compare the two seemingly similar towns in more depth.
Investing in property is all about what you buy the property for. You make your money with your buying value, rather than your eventual sale value. Over the last four years, property values in Newark have increased by 3%. This is great for those that have already bought a property in the town. When I looked at the property values in Grantham over this time, I found they have dropped by nearly 1.5%. This means, if you are considering buying now, Grantham would be the better town to invest in. If you would like our opinion on what to buy, feel free to come into our office on St Peters Hill.
