There is not a hige amount to report further to our last Autumn update; how quickly the seasons change!
The property market in our “regions”; namely East Midlands and Hull remain sound. Not overly exciting but steady, not race away but not crash. Just how we like it and just how it should be.
The market is facing various upheavals at the moment; be it on more of a macro level; with a difficult political environment and an uncertain brexit or on a more micro level where there is increasing regulation and taxation focussed on buy to let investment. Despite these headwinds, the market continues to steadily appreciate in terms of capital appreciation and we see no signs of weakness. Whilst in the rental market demand is as resilient as we expected, and forecast, and rental growth of c3% per annum on a yield of c5-8% leads to a handsome annual return.
So, we are positive on the local residential markets from an investment perspective. We do find being a fully fledged “estate agency” and “property lettings and management” that we get a good feel for the market, and the barometer at the moment seems to show that the market will continue to be “sound” through into first half 2018.
The small notch up in interest rates came as no great surprise and we can expect further upward tweaks in 2018; but nothing aggressive. It is good and sensible, and leads to a more “normalised” environment, which in these days of abnormalities is a pleasant outcome!
We operate across a range of different sectors; rural country houses in Rutland TO new build developments in and around Kettering, TO the wonderful townhouses of Stamford, and the terraced houses of Hull with their attractive rental yields. Each offers completely different investment characteristics yet we see buyers across the full range.
If we can help you finding a property, selling a property, renting a property or just wanting a chat about the market then do let us know.