Last week, a landlord came in to our office to discuss the rising property values in Bedford. He owns a varied portfolio of rental properties, primarily in Bedford, so it is interesting to compare the increase in property values around the area.
Over the last 12 months the average property value in Bedford has risen by nearly £14,094, from £262,275.00 to £276,369.00. This is a very reasonable 5.37% increase. When we looked at the values for semi-detached houses, this average increase is also quite reasonable at £12,377. This is a considerable average increase of £238 per week.
When I looked at some of the surrounding towns, Luton has a lower average increase in property value for semi detached houses, at around £165 per week, whilst Rushden has an even more modest average increase of around £115 per week. It is, nonetheless, a rise in average property values to suggest the market is recovering in our area.
When considering this landlord’s buy to let portfolio, the rental values have remained fairly stable during the 12 months. They are slowly recovering to the average of around 5 years ago, therefore it could be a good time to invest in the property market in Bedford. If you would like some advice about buying to let, please come and see us at our offices.