Last week, a landlord came in to our office to discuss the rising property values in Grantham. He owns a varied portfolio of rental properties, primarily in Grantham, so it is interesting to compare the increase in property values around the area.
Over the last 12 months the average property value in Grantham has risen by nearly £5,950, from £153,900 to £159,850. This is a very reasonable 3.9% increase. When we looked at the values for detached houses, this average increase is even greater at £8,470. This is a considerable average increase of £162.88 per week.
When I looked at some of the surrounding towns, Newark has a lower average increase in property value, at around £32.62 per week, whilst Sleaford has an even more modest average increase of around £3.01 per week. It is, nonetheless, a rise in average property values to suggest the market is recovering in our area.
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 Grantham. If you would like some advice about buying to let, please come and see us at our office on St Peter’s Hill.
