I have been hearing about the revised Melton Local Plan that was discussed at the full council meeting on the 4th July.
There have been a series of amendments made to the plan and these include the number of new properties to be built in the area and the transport strategy – including the relief road.
The full details of the amendments to the plan will be available at www.meltonplan.co.uk where you can review the changes and have the opportunity to make your views known. I hope the plan continues to move forward as the town really needs to see improvement to the traffic flow.
There is a massive demand for housing and with so few properties coming onto the market for sale we are seeing prices continue to rise. I believe the lack of properties for sale and to rent in the town are continuing to push up prices across the board.
This is contrary to the national trend of a drop in rents recorded in June vs. May 2017 as the figures released by HomeLet seem to suggest. In many areas, including Greater London and the South East they are seeing a fall in the average rents of a new tenancy.
The East Midlands though saw a rise on last month’s rents of 3.3% according to the HomeLet Rental index which seems to be showing similar patterns to the Belvoir rental Index for the East Midlands which I talked about last week.
The Melton Plan should eventually outline how the town will grow over the coming years and anyone investing in property or considering investing in a buy to let should keep an eye on the plans.
There are opportunities to purchase houses now that will offer secure and reliable incomes and offer a level of capital growth that will outperform other investment options if you buy wisely.
For honest rental returns keep an eye on my property blog and see what properties are on the market that could fit the bill. Alternatively if you have seen a property on the market for sale and wonder what it could achieve or if there are any pitfalls with the area you should know about please give me a call on 01664 569700. Charlotte Baker