One of our typical detached lets on the Forest side of the town - always popular!
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.
Sorry about the weird white background to the text - must have been something to do with my copy/paste technique!
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