Thursday, March 15, 2018

What will the Property Market look like for Landlords and Tenants in Melton Mowbray in 2018

With the news still being full of discussion about Brexit you would be forgiven for thinking it was the only thing the UK population were interested in! Talking to people in Melton Mowbray there is a lot of concern about the local housing market.

The summer of 2018 should see the Melton Local Plan adopted. This is Melton Borough Council’s housing and infrastructure plan for the town and local villages over the next 20 years.

In the pipeline are housing developments on Nottingham Road, Ankle Hill, Leicester Road and Spinney Road along with smaller sites in many of the villages.

After a lengthy period of few major housing developments in the area local people can now breathe a sigh of relief. Anyone looking to move house will be aware of the shortage of property on the market for sale and this has pushed many people to rent to accommodate their growing family.

The numbers of properties to rent are low too, as anyone searching for a good quality rental property will be well aware. To secure a property they need to make a decision within minutes of viewing before it is snapped up by the next potential tenants looking. If tenancies are lasting longer then surely tenants should be able to be more selective.

The additional properties coming onto the market should hopefully balance things out a little. More properties for sale and to let will inevitably give people more choice and encourage more activity in the housing market. We need more first time buyers to help those further up the chains move on but also investors so those looking to rent have choice and can find suitable property.

We need some balance in the housing market and I think the new developments will help to provide this. We are looking forward to 2018 being the start of the growth of the town that will allow more people to find their home and enjoy living in and around Melton Mowbray.  Melton Mowbray offers good employment opportunities and schools and it will be great for those coming into or back to the area to have more housing options.

If you are considering investing in a buy to let property follow this blog or give me a call on 01664 569700 to discuss potential investment properties and rental returns.

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