A few weeks ago, I discussed the differences in the rent that could be achieved from properties in the villages around Grantham, compared to the town itself. However, I didn’t mention the average values in both and how that affected their annual returns/yields.
The average terraced house in Grantham is worth £99,551, whilst terraced houses in the surrounding villages are worth around 33% more with an average of £132,627. The same was found for the value of an average semi-detached house worth £117,964 in the town, with the value increasing by 34% in the villages at £158,176. For a detached house in the town, you can pay approximately £194,395. This value is increased by 40% in the surrounding villages, with average values of £273,431.
If you are a landlord who is looking to buy property to let, before you buy in Barrowby or any NG32 village, you should consider the possible annual returns/yields. In the villages the yields are quite low, at around 3.5%, compared to around the 5% annual yield you may receive from properties in town.
So if you would like any advice when choosing properties, you may come and see us at our office on St Peters Hill, email grantham@belvoirlettings.com.
