A landlord spoke to us last week about rising property prices in Loughborough. She owns a diverse portfolio of rented properties, mostly in the town and it was informative to compare the increase in property values around this area.
In the last 12 months the average property value in Loughborough is up by 5.25%, almost £9,300, from £176,700 to nearly £186,000. When we looked at detached houses we saw an even more significant increase. Overall this is a considerable average increase of £178.85 per week.
In the surrounding area we found that Newark had a lower average increase in property value at around £32.77 per week, Melton Mowbray has a still more modest increase of around £9.27 per week and Groby near Leicester faired better than both but not as well as Loughborough at an increase around £48.23 per week. These are nonetheless rises in average property values suggesting the market is recovering thoughout the area.
Looking at this particular landlords buy to let portfolio, her rental values have remained fairly stable in the last 12 months. They are recovering to the average of around 5 years ago before ‘the crash’ and with prices still low but rising & increasing tenant demand it could be a good time to invest in the property market in Loughborough; certainly we are seeing an increase in buy to let landlord activity. If you would like some unbiased advice about buy to let based on lettings specialism and not a house selling agenda please contact us and ask for Jim or Carol.
