Over
the last 4 years, in Bedford average property values have risen from £236,100
to £249,100, a rise of £13,000 or in terms of a percentage rise, 5.5%. Milton Keynes
property values have increased from £212,700
to £235,400, a rise of £22,700, which is an impressive 10.67% increase, which
is 94% proportionally higher. Interestingly, Northampton property values have
risen somewhere in the middle by 8.31%
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Over
the last 12 months, of the total growth shown over the last 4 years, it is true
that most of that has been in the last 12 months itself, but only in the region
of the mid 4%’s for all towns/cities so, in reality, the market is good but not
out of control like the newspapers suggest.
However,
that doesn’t tell the whole story, because investing in buy to let is also about
yields. My research shows that as the average rent in MK is £848 per month,
making the average annual yield in MK at 4.31% per year. Northampton’s yields are proportionally a
sixth lower at 3.68% per year and Bedford’s are even lower at 3.23% per year.
In
forthcoming articles, we will look at the yields or return landlords can expect
to achieve from their Milton Keynes rental properties, looking at the different
suburbs and areas of the town. If you would like some advice about buying to
let, whether you are a landlord with a portfolio or someone thinking of investing in the
Milton Keynes rental markets for the first time, please email me on stephen.tunney@belvoirlettings.com or pop into my office in Stony Stratford
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