August 2016 saw the largest number of properties coming onto the market for sale in and around Melton Mowbray since September 2015. Looking at the properties for sale there seems to be a mix of stock too.
There may be a few more options for investors than we have seen over recent months.
As I mentioned in an article a few weeks ago there is a huge demand amongst tenants for family properties. However this is not restricted to just families looking, it is across the board, there are just not enough rental properties coming onto the market.
Last week we listed ‘nine’ new properties onto the rental market, ranging from one bedroom apartments to three bedroom family properties and we have already received applications on ‘seven’ of them. The current demand means there is very little available on the market for tenants to view and they need to act swiftly if they want to be considered for a property.
Melton Mowbray property market needs more investors to increase the number of rental properties available. With more on offer for sale there should be more for investors to consider. Buying a property to let, especially for Melton Mowbray Landlords, is such an emotive investment and there is so much more to consider than yields.
Landlords like to invest in something which they are confidant will be a good area in years to come and always appeal to tenants. As well as considering long term renovation / repair costs location is a major factor. With this in mind I am hoping that with more properties on the market it will encourage investors to find that ‘right’ property to ‘buy to let’.
I am pleased to see this increase in the numbers of properties coming onto the market for sale but there are still 18% less new properties than in September 2014. Let’s hope the coming months will see the number of new listings continue to rise and more choice for anyone looking to buy a property in the Melton Mowbray area.