Fab 3 bed semi with no work need and a quick potential return of 5.1%

Newton Fallowell have just listed this great 3 bed property on Ullswater Road. it is for sale at £144,950 and as the agent says it would easily achieve £600 pcm. I think in the current market conditions we would be able to get £625 pcm and if purchased for the asking price then this could see a potential return of 5.1%.

These modern properties are very popular with tenants as the utility costs are low in comparison with older properties.

Click on the link for more information...

http://www.rightmove.co.uk/property-for-sale/property-52895066.html

Melton Mowbray Property Market – Post Election Blues?

With the election now over and the stability of Downing Street secure, with David Cameron and the Conservatives as the largest party in Westminster, in Melton Mowbray (as in the rest of the UK) average wages are beginning to grow faster than inflation. 

This is good news for the Melton Mowbray housing market, as some buyers may be willing or able to pay higher prices given the more certain political outlook and attractive inexpensive mortgage rates. However, sellers who think they have the upper hand due to the lack of property for sale should be aware that we should start to see an increase in the number of people putting their properties on to the market in Melton Mowbray giving buyers some extra negotiating power.

At the last election in May 2010, there were 285 properties for sale in Melton Mowbray and by October 2010, this had risen to 377, an impressive rise of 32% in five months. An increase in the supply of properties coming on to the market could tip the balance in the demand and supply economics seesaw, thus potentially denting prices. However, as most sellers are buyers and confidence is high, this means there will be good levels of property and buyers, well into the summer, as demand will continue to slightly outstrip supply.

Just before we leave the run up to the election, it is important to consider what the uncertainty in April did to the Melton Mowbray property market. I mentioned a few weeks ago that property values (ie what properties were actually selling for) had risen by 0.3% in March 2015. Now new data has been released from Rightmove about April’s asking prices of property in Melton Mowbray. It shows that pre-election nerves finally came home to roost in the final weeks of electioneering, with the average price of property coming to market only increasing by a very modest 0.7% (April is normally one of the best months of the year for house price growth).

I am sure our local MP, Alan Duncan, would agree that the biggest issue is the lack of new properties being built in Melton Mowbray. The Conservative manifesto pledged to build 200,000 discounted starter homes for first-time buyers in the next five years. For Melton Mowbray to gets its share, that would mean only 39 such properties being built in Melton Mowbray each year for the next five years, not much when you consider there are 21,490 properties in Melton Mowbray.

Housing is not a big issue for Conservative voters and because London is an increasingly Labour city where the biggest housing issues are found by a country mile, so will it remain on the ‘to do list’ but won’t get recognition it deserves. 

Until another political party gets back into power, nothing will seismically change in the property market, thus demand for housing will continue to outstrip supply, meaning property values will increase (good news for landlords). However, as rents tend to go up and down with tenant wages, in the long term, rents are still 4.86% lower than they were in 2008 (good news for tenants)... with renting everyone wins! 

Call me on 01664 569700 or pop into our office on Burton Street for impartial advice on buy to let investments.

6.6% potential return on a modern apartment just off Kings Road

This apartment is for sale with Harrison Murray and they have reduced the price to £99,950 which makes this a great potential buy to let investment. 

The apartment is split over two floors and has secure and well maintained communal areas, there is allocated parking and it is a short walk to the town center. 

We let these 2 bed apartments for £550 pcm and they always let quickly. This would give a potential return of 6.6%

http://www.rightmove.co.uk/property-for-sale/property-48204139.html

Melton Mowbray Buy To Let – Should you look further afield?

I was at a recent business networking event in Melton Mowbray, when a landlord (who it transpired had a couple of Buy to let properties) bent my ear on where the next hot spot town or city is to invest his money in and where the best rental yields are. 

It can be tempting to just look at Melton Mowbray when growing a buy to let property portfolio, but there can be big differences in the amount of rental income you receive and how much your property will appreciate by considering other locations in the country.

When reviewing the performance of an investment a landlord needs to consider yield and capital growth. Landlords should be looking for a high rental yield so that they can comfortably cover any mortgage payments and make some profit from the income return, but you also want the property to rise in value over time so you can get some capital growth when you come to sell. 

However, high yielding property in say such areas as Dieppe Way in Melton Mowbray will suffer from low capital growth, in such upmarket areas as Burton Road, properties offer good capital growth, but at the expense of a decent yield.  

The North East and North West of the UK are landlord magnets for great yields. The average yield in Melton Mowbray today is 4.04%, which when you compare with say Hartlepool in the North East, which achieves 7.73% or  9.43% in the Anfield area of Liverpool, doesn’t look too healthy. 

Now of course, these are only averages and some of my Melton Mowbray landlords are achieving 6% to 7% on some of their Melton Mowbray properties, but at the expense of capital growth. Anyway, after wasting a tank full of petrol up the A1 to Teeside or the M1 to Liverpool, the Liverpool property would have dropped in value by 2.2% in the last 12 months and the Hartlepool property would have dropped by 1.4%.

When you compare the long term house price growth, it gets even worse. Looking at the graph, Since 1995, property values in Melton Mowbray have risen by 155.04%,compared with Hartlepool at 21.02% and Liverpool  at 90.11% – it just shows you shouldn’t always chase the yield because of the poor increases in property values in those two places.


As I always like to explain to landlords when they either email me, pick up the phone or pop into my offices for a coffee, together with soon to be FTL’s (first time landlords)), a decent yield is important, but when you come to sell your buy to let property it would also be nice to make a decent profit. Any profit you can make when you come to sell it, on a buy to let property is known as the ‘capital gain’ ie capital growth.

At the end of the day, as a Melton Mowbray landlord, you want to be making gains from both your rent and house price growth, particularly when you want to sell, because when combined, the rental yield and capital growth, that gives you the real return on your investment. 

Finally though, do you know Hartlepool and Liverpool as well you know Melton Mowbray? Do you know where the good and bad areas are in both those places? Are you happy that it would require you to take a day out of work if there was an issue with your property in the North?  If you can’ t answer yes to all three questions, then maybe you should be considering a closer to home?

Court Conversion - 2 bed apartment £89,950 easily achieving a 6.4% return

What a great opportunity for a new buy to let investor, for sale with Bentons this 2 bed apartment has parking and would easily let for £475 pcm. It has a parking space and is close to the town centre. There is massive demand for 2 bed properties and this apartment will have gas central heating and is newly developed. 

When making an investment in property it is important to consider the monthly out goings, especially with a leasehold property. Please do not hesitate to give me a call to discuss the letting market in Melton Mowbray.   

http://www.rightmove.co.uk/property-for-sale/property-52496936.html

Another potential investment on Brook Street?

This large 3 bed house is on the market for £117,950 with Bentons and should let for £550 pcm. I am not sure if it needs work as there are limited pictures but if the rest of the property is as nice as the lounge then 5.59% return should be possible.

http://www.rightmove.co.uk/property-for-sale/property-52583348.html

Court House development - at least a 5.6% return

We were really excited to see the scaffolding go up at the Court House in Melton Mowbray and now our friends at Bentons are selling the units in this development. There is a mix of apartments and townhouses the most desirable of which will be the 2 bed townhouses. 

Selling for £105,000 with a car parking space (essential) these would easily let for £495 pcm achieving 5.6% return but we may get £525 pcm when they are finished. This would produce a potential 6% return. 

Click on the link for more details...

http://www.rightmove.co.uk/property-for-sale/property-52496939.html

Is the Melton Mowbray Property Market in crisis?

Since the 1960’s more people have owned their own home than rented but, for many young Melton Mowbray people, the dream of buying their own home is dying...or is it? 

Since the turn of the Millennium, in Melton Mowbray (as in the rest of the Country) there has been a significant change in the proportion of people who own their own home in Melton Mowbray. In 2001, 76.5% of homes in Melton Mowbray were owner occupied, today the figure is 72.1%, a significant decline in such a short time.  Buy to let landlords can find tenants because young people say they cannot afford a deposit to buy unless they inherit money or are given a loan from the Bank of Mum and Dad.

In Melton Mowbray, only 49.26% of 25 to 34 year olds have a mortgage. When you compare Melton Mowbray against the national average of 35.93%, it just shows how different parts of the country have different housing markets. However, the really interesting fact is this  ...Roll the clock back to 1991 and nationally, 67% of 25 to 34 year olds had a mortgage. 

After WW2, the supply of properties being built kept up with demand as millions of council homes were built (the most being built in 1950s, surprisingly under Conservative Governments!). Also private house building increased in the 1950’s, but especially in the 1960’s and 1970’s, and as the Country  got more prosperous it meant that by 1971, there were more home owners than renters.

However, since the 1970’s, the population has grown but the number of new properties being built hasn’t kept up at the same rate, the result is that there have been huge rises of property prices in the early ‘70s, the late 80s and more recently between 1999 and 2004. Interestingly, since the early 1970’s, out of the 34 richest countries in the world, the UK has seen highest property prices rises.

95% mortgages have been available to first time buyers since late 2009, but with property prices rising by 193.7% since the Winter of 1995 in Melton Mowbray, as property prices have been rising and first time buyers have been saving, the amount they have to save is continually rising at the same time. The stress on saving even for that kind of deposit, coupled with the new stricter mortgage rules introduced in 2014, means that most 20/30 something’s in Melton Mowbray are renting instead of buying.

The issue quite simply comes back down to a lack of new homes being built. In Melton Mowbray, only 187 properties a year are being built whilst the population is rising by 240 a year. The supply of new homes has been limited by planning laws, local councils not having the money to build council houses, hard hitting green belt limitations, and our old friend NIMBY’ism.  With a rising population and net migration, especially from the EU, the mismatch between demand and supply is why we have the problem. Until Politician's have the backbone to realise the Country needs a lot more decent homes built, the problem will just get worse.

In the meantime, demand for rental property will continue to grow because people need a roof over their head at the end of the day ......fact.

For impartial advice on where to buy your next investment property please call me on 01664 569700 or pop into out Office on Burton Street.

Property Values rise by 0.3% in Melton Mowbray

Property values in Melton Mowbray rose by only 0.3% in March. This follows several months of sluggish activity in the Melton Mowbray property market in the run up to the Election, putting the average price of a property in Melton Mowbray at £215,600, 5.0% higher than in March 2014.

Interestingly, the Council of Mortgage Lenders and Estate Agent trade bodies over the last few months have reported seeing a fall in mortgage lending and enquiries from prospective homebuyers. This is important because it comes amid an overall fall in housing market activity in Melton Mowbray. Data from the Land Registry said completed house sales in Melton Mowbray in the three months to January 2015, (the most up-to-date figures available) fell by 11.23% compared to the same three month period up to January 2014.

However, I believe that the slowdown in property sales in Melton Mowbray is supporting Melton Mowbray property values, as there is a shortage of houses coming onto the market. Even though in the whole of the first Quarter of 2015, Melton Mowbray property value increases may seem subdued when compared to 2014, let us remember, property values are still rising well above the level of inflation. 

As I have said many times before, the population in Melton Mowbray is growing at a much higher rate than the number of properties being built. This increasing demand for a roof over people’s head, which is outpacing the supply of new houses being built in Melton Mowbray, is creating a severe imbalance in the Melton Mowbray (in fact the whole of UK’s) housing market. Potentially making home ownership an ever increasingly distant dream for many of Melton Mowbray’s future first time buyers.

In fact, I still maintain the view that house prices are likely to rise by around 3 to 5% in Melton Mowbray in 2015, even after taking into account this blip at start of the year. The reason being is that the rise reflects both strong economic conditions and steady market conditions with (and this is the most important factor) very low numbers of properties on the market. 

Many Buy to Let landlords know that investing in the Melton Mowbray property market is a long-term strategy of 10, 20 even 30 years. Governments come and go, but unless Melton Borough Council start to build hundreds of new properties a year to make up for the lack of supply, Melton Mowbray people will always want a roof over their head. Irrespective of which party is in power, if there aren’t any council houses and they can’t (or are unable to buy), a demand for rental properties will always remain.

As my existing Melton Mowbray landlord clients will testify, whether you manage your property yourself, or another Melton Mowbray agent manages your properties, everyone is always made to feel welcome when they pop in for a coffee at our offices in Melton Mowbray to discuss anything to do with the Melton Mowbray property market. 

I don’t do hard sell, I will just give you my honest and straight talking opinion. However, if you are too busy to pop into town, you could always visit the Melton Mowbray Property Blog www.meltonmowbrayproperty.com for advice, intelligent commentary and analysis of the Melton Mowbray Property market.

Dwyers Close, Asfordby - an easy 4.8% potential return

What a well presented 2 bed modern property up for sale with Melton Premier. It is on for £129,950 and is the sort of property that would let really quickly for £525 pcm giving a potential return of 4.8%. In the current rental market we could achieve £550 pcm making the return 5%.

Take a look at the link for more pictures ..


http://www.rightmove.co.uk/property-for-sale/property-50007640.html

Melton Mowbray Property Market and the General Election

After the shock of the Conservatives returning to power with a majority at Westminster, all the potential issues and possible uncertainties of a hung parliament has lifted the cloud from the Melton property market.  Talking to other Melton agents, surveyors and solicitors in the area, there are signs this has started a new impetus the Melton property market. This is only after a subdued six months, when an amalgamation of tougher lending conditions, a natural correction after the strong recovery in Melton property prices in 2014, and political uncertainty ahead of the General Election slowed demand.

Against the back drop of Labour’s election promises of rent controls and three year tenancies, some Melton buy to let landlords were waiting to see how these new policies would be implemented before they committed themselves to buying more property for their buy to let portfolio. Now that uncertainty has been removed, the long term picture is very positive.

So, with all that uncertainty now removed, where next for the Melton property market?  Well with inflation at zero and with the Money markets happy David Cameron is still at No.10, the Bank of England have no reason to raise interest rates until 2016 at the earliest. As mortgage rates are at their lowest levels since 2010, landlords with large deposits will now be wooed by the mortgage companies in the coming months with low rates.

You see over the past couple of years, Melton and Rutland landlords have benefitted from a booming local job market. Unemployment in the town and immediate area has dropped to 1.1%, as a year ago, 816 people were claiming unemployment benefit compared to today’s 547. With more jobs and better pay, as the level of rents is directly linked to tenant’s wages (see article Rents paid by tenants in Melton Mowbray on the rise from the 23/4/15), there has been an increase in the rental prices tenants are willing to pay for good quality Melton properties.

Some landlords might be nervous about the Conservative’s plans for the housing market in the next five years in terms of tenant demand for their rental properties. One plan is for Housing Association tenants to have the right to buy their property. These kind of tenants were never in the private rented sector and will actually increase the supply of properties in the housing stock in decades to come. The Government ‘Help to Buy Scheme’ has only helped to buy 100 Melton and Rutland properties since April 2013. Considering 1,202 properties have changed hands in the last year alone in Melton and Rutland, I don’t think it has made a huge difference to our local property market.

The biggest matter, when it comes to tenant demand for rental property going forward, comes from the shift in the mindset and attitudes towards renting itself. Twenty years ago you were seen as a second class citizen if you rented a property. In Melton, as in the rest of the UK (apart from Central London), renting continues to offer good value for money for tenants.

 If you are an existing landlord in Melton or thinking of becoming one, then I must suggest you out seek specialist advice and opinion. Like many agents in Melton, we will happily give you our opinion on the current state of the market and the advantages/disadvantages to investing in the Melton property market if you pop into our offices or call me on 01664 569700.

Brook Street with an excellent interior, 5% return and ready to go.

This lovely Victorian terrace property is on the Market with Melton Premier for a shade under £130,000. It is a large property and properties on Brook Street let in the region of £550 pcm giving a potential return of 5%. It has masses of appeal for potential tenants as the finish inside is really good and the rooms are large. 

Click on the link for more details...

http://www.rightmove.co.uk/property-for-sale/property-48061778.html

Thorpe Road property with a potential return of 7.3%

Its only small and on a busy road but this 2 bed bed property looks to be in great condition and on the market with Melton Premier at only £82,000. 

It would let easily for £500 pcm giving a good return on the investment. 

http://www.rightmove.co.uk/property-for-sale/property-48808483.html

389% Return for Melton Mowbray Buy To Let landlords since 2000?

Buy to let is essentially different from investing in stocks and shares or putting money in the Building Society. Whilst these other investments (Building Society Passbooks, Stocks and Shares etc) are passive  ie once the  money has been invested it you leave it alone, with buy to let, things are more hands on, in fact it’s almost a business. One thing the landlords I speak to say is the fact that they like buy to let because it is both an investment as well as a business. It is this factor that attracts many of my Melton Mowbray landlords – they are making their own decisions rather than entrusting them to others (such as City Whiz Kids in London playing roulette with their Pension Pot).

So if you are investing in the Melton Mowbray property market, you can earn from your investment in two ways. When a property increases in value over time, it is known as 'capital growth'. Capital growth, also known as capital appreciation, this has been strong in recent times in Melton Mowbray, but the value of property does go up as well as down just like shares do but the initial purchase price rarely decreases.  Rental income is what the tenant pays you - hopefully this will grow over time. If you divide the annual rent into the value (or purchase price) of the property, this is your yield, or annual return.

I was talking to a landlord who bought a semi-detached house in the Longfield Road area of Melton Mowbray. He bought a very pleasant 3 bed semi-detached in 2000 for £70,950. It sold again in January just gone for £140,000, a rise of 97.32% in just over 15 years – a compound annual return of 4.64%.

However, the real returns are for those Melton Mowbray landlords who borrowed money to purchase their buy to let property. They have made significantly higher returns than those who paid 100% cash. If the landlord had borrowed 75% of the £70,950 purchase price of the Longfield Road semi-detached house on an interest only 75% mortgage, he would have only needed to invest £17,738 (as his 25% deposit... borrowing the remaining £53,212), but his £17,738 would be worth today, £86,788  (£140,000 less £53,212 interest only mortgage)... a rise of 389.27% - a compound annual return of 11.17%... and I haven’t even mentioned the rent he would have received in those 15 years!

This demonstrates how the Melton Mowbray buy to let market has not only provided very strong returns for average investors since 2000 but how it has permitted a group of motivated buy to let Melton Mowbray landlords to become particularly wealthy. In fact, if this landlord had continued to remortgage the property as it went up in value, he could by our reckoning have had an additional two or three properties (albeit with larger mortgages but greater future potential).

As my article mentioned a few weeks ago, more and more Melton Mowbray people may be giving up on owning their own home and are instead accepting long term renting whilst buy to let lending continues to grow from strength to strength. If you want to know what (and would not) make a decent property to buy in Melton Mowbray for buy to let call me on 01664 569700.

A stunner on the inside! 5% return

This property is located near to Old Dalby and has been refurbished internally to a great standard. The area has great potential with the talk of new developments and services coming in the future.

This is a great family house with good size rooms. It would easily let for £575 pcm giving a return of 5% if purchased at the asking price.

http://www.rightmove.co.uk/property-for-sale/property-49432969.html

Update - price drop on Wymondham Way Investment!

***********UPDATE - price dropped to £154,950 ******** 
This would let for £650 pcm giving a 5% return.

Previous blog from the 8th April : This 3 bed semi detached property has been extended and is situated in an excellent area. It is for sale with our friends at Harrison Murray for £160,000 and would easily let for £650 pcm. 

The popularity of this area will increase the potential for capital growth on an investment which should be considered along side the potential yield of 4.8% if purchased for the asking price.

Click on the link for more info..

http://www.rightmove.co.uk/property-for-sale/property-48862504.html

Melton Mowbray Property Market – What is really happening?

I had an interesting conversation with a local Melton Mowbray accountant the other day. He is quite an observant chap (I know this because I have known him for a few years .. but I suppose you have to be to be an accountant!).   Anyway, he mentioned a few things he had noticed recently in Melton Mowbray, one that Melton Mowbray property prices had gone up in the last few years but nowhere near the growth levels that were being achieved in central London, and secondly, that he thought the number of for sale boards in Melton Mowbray (and more importantly ones with sold slips on them) had increased over the last couple of years.

The rate of house price inflation in Melton Mowbray continues to slow with growth of 5.3% in the 12 months to February compared to 7.8% just under six months ago, according to the latest Land Registry data.   However, there is considerable local variation with house price growth ranging from 1.6% in Leicester to 8.3% in Northamptonshire over the last 12 months.

Whilst Melton Mowbray hasn’t seen the 20%+ per year in house price growth of London over the last couple of years, Melton Mowbray has seen a sharp uplift in the number of properties sold throughout  2014 as base line demand for housing grows, which suggests there is substance to the recent pick-up in house price growth in the town.   

Since the Second World War in the UK, when the number of properties sold has grown, property values grew soon after.   The 19.47% uplift in property transactions in Melton Mowbray in 2014, compared to 2013, indicates the most significant recovery in house market activity in Melton Mowbray (outside London) since 2007.

When you compare Melton Mowbray with London, you could be looking at two different countries. In London, its mid/late teens house price to earnings ratios are impacting demand (i.e.  the average property value is often 15 or 17 times the average wage in London .. in fact in Knightsbridge the ratio can be 30 to 1).   Yet the number of people wanting to sell has dropped considerably, meaning that falling sales volumes combined with a general slowdown in activity in the run up to the General Election is resulting in lower mortgage approvals for home purchase.

Transactions are a great indicator for house prices. The acceleration in house price growth in London in the last two years was preceded by three years of rising transactions. A similar pattern is being registered in the Melton Mowbray area, as pent up demand returns to the market supported by low mortgage rates and an improving economic outlook.

But before you get the Champagne out, while the uplift in activity is welcome news, the number of Melton Mowbray property sales in 2014 are still 11.9% lower than the level seen in 2007 and property values are 6.6% below the 2007 levels.   The ongoing housing recovery is far from broad based and remains focused on middle to higher value areas within Melton Mowbray where households have equity and find it easier to access mortgage finance. If you want to know more about the Melton Mowbray Property Market, please visit me at 27 Burton Street, Melton Mowbray or send me an email to charlotte.baker@belvoirlettings.com

Kings Road - super location

This three bed semi detached property is for sale with Connells - advertised at £160,000 and is a great house for the area. 

Kings road is known for its Victorian terraces but this property offers off road parking a nice garden and a great layout - very different to a terrace. 

Its a great location for families as it is close to Brownlow Primary School and accesss to the country park. It would let really easily and is in great order, click on the link to look at the floor plan - there is even a utility!

It would let for £625 pcm and this area has seen good capital growth in the last 10 years.


http://www.rightmove.co.uk/property-for-sale/property-51761732.html

Delightful 2 Bed on Garden Lane - perfect for a buy to let

This 2 bedroom property on Garden Lane in Melton Mowbray needs snapping up by an investor!  It is the perfect buy to let property requiring little / no maintenance (small amount of painting?)  It would let quickly as it is situated in a popular location close to local amenities.

It should see a return of over 5%.

See for yourself here: http://www.rightmove.co.uk/property-for-sale/property-49363150.html

Two Speed Melton Mowbray Property Market?

Even with the General Election on the horizon, property values in Melton Mowbray are only 0.36% lower than they were 3 months ago, the diversion and ambiguity of an election typically makes house sellers who need to sell, price their property more realistically (although this only lasts a couple of months).

Looking specifically at it from a Melton Mowbray landlord’s point of view, the Melton Mowbray properties favoured by investors are in short supply in many parts of the town because of a number of factors. One of the factors has been that we seen the number of first time buyers increase over the last 12 months in Melton Mowbray.  Another factor has been the fact that the banks have been pushing ‘let to buy’ (yes ‘let to buy’ is different to ’buy to let’) to homeowners (more of ‘let to buy’ in an up and coming article). Next, because of the banks, who are chasing low risk landlords with high deposits with very low mortgage rates- and the low risk landlords with high deposits tend to be attracted to the safer modern two and three bed town houses and semis in Melton Mowbray.

As I mentioned a few weeks back, the pension rules are changing which means buy to let landlords can use some, or all, of their pension pot to buy a property.  It shouldn’t be forgotten there are tax implications taking more than a quarter of your pension pot out (see the article from a couple of weeks ago) , so whilst many pension pots may not be able fund a suitably big enough tax free lump sum to buy the property outright, for most it will provide enough for the 25% deposit (required by most BTL mortgage providers). Remember though the interest paid on the mortgage is tax deductible against the rent, thus lowering your income tax paid.

In the last 12 months, I have noticed a particular uplift in interest from ‘50 something’ Melton Mowbray people wanting to become landlords for the first time. In Melton Mowbray, the highest returns for the lowest investment are at the lower end of the market eg the classic 3 bed semi . Unfortunately 3 bed semis are coming to the market in smaller numbers than the larger four bed’s. 

When looking at the actual numbers, in the later part of the Summer of 2014 in Melton Mowbray, in one month alone 95 three bed properties were on the market in Melton Mowbray. However, in January this year, a notoriously excellent bumper month for properties coming on to the market, there were only 70 three bed properties on the market in Melton Mowbray to choose from. Today, that figure stands at only 61 ..whilst the number of four and five beds has increased significantly ...  interesting don’t you think?

At that lower end of the property market in Melton Mowbray, (ie where first time buyers and landlord investors compete with each other to buy those smaller properties), I believe throughout 2015, there will be a slow and steady tipping of the scales between supply and demand. In fact, from what I am seeing and hearing, early anecdotal evidence has suggested over the last few months (although we will need to look at figures later in the Spring once we have the data from The Land Registry), we are beginning to see a polarised Melton Mowbray property market. We have high demand but low supply at the bottom end of the property market, yet high supply but lower demand at the top of market .. and that can only mean one thing ... prices will go up quicker on the smaller properties than the larger ones in Melton Mowbray, thus narrowing the gap for people looking to move up market!

If you want a chat about the local Melton Mowbray property market, pop in for a coffee or email me on charlotte.baker@belvoirlettings.com