Whether you’re a homeowner or landlord, the housing market and house prices will affect you, so it pays to keep an eye on movements, especially with the looming changes around Brexit.
Being a Buy-to-Let landlord is certainly a balancing act. Having spoken to many Stratford-upon-Avon landlords this year, they seem very aware that their tenants’ capability to pay the rent and their own need to raise rents on their rental properties is a tricky balance that is often affected by outside factors.
But despite Brexit, there’s evidence to suggest that landlords feel more confident than they did in 2018 and have pushed rents higher than before.
The last 7 years is telling…
Looking at the data for the past 7 years shows us that the summer months see more rises than the colder autumn and winter months. This is because the summer is normally a time we like to move, adding demand and increasing the possibility of higher rent.
Rents in Stratford-upon-Avon for new tenants have risen 0.6%
This figure is the average for the month, taking overall annual Stratford-upon-Avon rents and giving the overall figure of 2.8% higher for the year. No doom and gloom here then!
Many SUA landlords have expressed some apprehension about the slowing of the housing market in Stratford-upon-Avon. This uncertainty isn’t always good for a stable and growing market, but I believe, based on this new evidence, the concerns may be overstated.
What about Stratford homeowners?
Of course, the other area to affect property investment is what’s happening to the capital values. Property on the Stratford-upon-Avon market has been finding its own equilibrium since the beginning of 2019, according to the Land Registry.
According to the Land Registry, property values in Stratford-upon-Avon are 4.6% higher than they were 12 months ago.
The figures (which reflect the sales of properties that took place in the late Autumn of 2018) are further signs that confidence in Shakespeare’s town is still high – and that’s good for landlords and homeowners alike.
Properties on the market in Stratford-upon-Avon have risen by 4% since the Autumn of 2018
This is not such good news for landlords.
With more property on the market, there’s more choice and less demand for the property they own. It’s swings and roundabout for both sides.
The important takeaway for both landlord and homeowners is simple:
Price your properties sensibly and make sure you’re aware of the market and what it can handle.
Rightmove, Zoopla, and OnTheMarket are available to all and rank highly on Google, the number one search engine in the world. It’s no secret what you can and can’t charge for your home or for rent on your property.
Not planning to sell? It’s just a nice-to-know for now…
Of course, if you’re not planning to sell then this is all academic for now. If you’re a landlord though, it might be time to get ready for some post-Brexit deals as the markets get a shake-up.
I have a feeling there may be some decent Stratford-upon-Avon buy-to-let deals coming your way soon…
We have our ears to the ground here in Stratford-upon-Avon and we’ll be happy to discuss your next move.
Need more help? Contact us now.
