Last week, a landlord came in to our office to discuss the rising property values in Andover. He owns a varied portfolio of rental properties, primarily in Andover, so it is interesting to compare the increase in property values around the area.
Over the last 5 years the average property value in Andover has risen by nearly £26,767, from £201,889 to £237,669. This is a very reasonable 12.69% increase. When we looked at the values for semi detached houses, this average increase is even greater at £31,971. This is a considerable average increase of £122.96 per week.
When I looked at some of the surrounding towns, Ludgershall has a lower average increase in property value, at around £117.84 per week. It is, nonetheless, a rise in average property values to suggest the market is doing well in our area.
When considering this landlord’s buy to let portfolio, the rental values increased somewhat during the 12 months. Therefore it could be a good time to invest in the property market in Andover and Ludgershall.
If you would like some advice about buying to let, please come and see us at our offices.