Last week, a landlord who lives in Wymeswold, came in to our office to discuss the rising property values in the A46 corridor between Leicester and Bingham. He owns a varied portfolio of rental properties, primarily in Bingham and Loughborough with one in Leicester, so it is interesting to compare the increase in property values around the area.
Over the last 12 months in Bingham average property values have risen from £192,000 to £206,800, a rise of £14,800 or £284 per week. When I looked at some of the surrounding areas, Loughborough has had a lower than average increase in property values, at around £205 per week, whilst Leicester has had a slightly lower rise of around £194 per week.
When one looks at the percentages, Bingham has performed the best, rising by 7.7% in the last 12 months, compared to Loughborough at 6.1% and Leicester’s at 5.7%! 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 Bingham– 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 6% 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 Bingham.
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 me at our office on 18a Market Street, Bingham or email me at firstname.lastname@example.org