Last
week, a landlord who lives in Adderbury, came in to our office to discuss the
rising property values in the Banbury area. He owns a varied portfolio of
rental properties, primarily in Banbury and Brackley with one in Chipping
Norton, so it is interesting to compare the increase in property values around
the area.
Over
the last 12 months in Banbury average property value’s have risen from £269,000
to £289,100 , a rise of £20,100, or £386 per week. When I looked at some of the
surrounding areas, Brackley has had a slightly lower than average increase in
property values, at around £250 per week, whilst Chipping Norton has an even
lower than average increase of around £168 per week. It is, nonetheless, a rise
in all the town’s average property values which suggests the market is recovering
steadily in our area, but especially Banbury– 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 5% 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 Banbury
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 me at our office on the High Street, Banbury.
