Last week, a landlord who lives in Towcester came in to our office to discuss the rising property values in Northamptonshire. He owns a varied portfolio of rental properties, primarily in Northampton and Rugby with one in Towcester, so it is interesting to compare the increase in property values around the area.
Over the last 12 months in Northampton average property values have risen from £198,300 to £212,300, a rise of £14,000 or £269 per week. When I looked at some of the surrounding areas, Rugby has had a lower average increase in property values, at around £225 per week, whilst Towcester has had an even lower increase of around £178 per week.
However, when one looks at the percentages, Northampton has performed even better, rising by 7.1% in the last 12 months, compared to Rugby at 5.9% and Towcester’s at 3.08%! 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 Northampton– 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 Northampton 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 and see us at our office on Wellingborough Road, Northampton, or email us at Northampton@northwoooduk.com or telephone us on 01604 60 70 80.