Over
the last 12 months in Melton Mowbray average property values have risen from £205,000
to £224,500, a rise of £19,500 or £375 per week. When I looked at some of the
surrounding areas, Bingham has had a slightly lower than average increase in
property values, at around £284 per week (as the average property in Bingham
has risen from £192,000 to £206,800), whilst Grantham has had a lower rise of
around £182 per week.
When
one looks at the percentages, Melton Mowbray has performed the best as well,
rising by 9.5% in the last 12 months, compared to Bingham at 7.7% and Grantham’s at 6.7%! It is, nonetheless, a rise
in all the town’s average property values which suggests the market is increasing
steadily in our area, but especially Melton Mowbray– good news for home owners
and landlords alike.
When
considering this landlord’s buy to let portfolio, yields can be in the order of
an average 4% to 7% per year, depending where you buy, so combine that with
steady rental growth, excellent increases in capital values of the properties
themselves and it could be a good time to invest in the property market in Melton
Mowbray as property values start to rise.
If
you would like some advice about buying to let, be you a landlord with a
portfolio or someone thinking of investing in the rental market, please come to
see me at our office on Burton Street or
email me at charlotte.baker@belvoirlettings.com or visit the Melton
Property Blog.
Amazing post, big thanks.
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