The Gonerby Hill Foot is a suburb to the north of Grantham town centre, it is an interesting area and I was pleasantly surprised with what I found out when I carried out a bit of research on the properties there.
In the area, there are two particularly popular roads, Cliffe Road and Stephenson Avenue. On Cliffe Road, 32% of the 112 households have moved in the last seven years. This is nearly twice as many as Stephenson Avenue, where 18% of households have moved. It made me wonder why fewer people have moved from Stephenson Avenue. The average value of a property on Cliffe Road is £142,250, whilst on Stephenson Avenue it is 14% higher at £162,500.
However, the average value of a semi-detached house on Cliffe Road is 4% higher than a semi-detached house on Stephenson Avenue. This is because semi-detached houses on Cliffe Road are older but much larger, so are worth more. Conversely, detached houses on Stephenson Avenue are worth 19% more than those on Cliffe Road.
We have a database of every rentable property in Grantham and our records show that there are only two properties that are currently rented on both streets. Maybe this could be an ideal opportunity for an aspiring landlord.
If you would like our advice when choosing a buy to let investment, please visit our office on St Peters Hill, or email us at grantham@belvoirlettings.com
