New Year: A Time to Invest?
This is a time of year when our thoughts turn to the future. For those thinking of investments, the prospects for the East Midlands property market look very favourable!!
A recent ONS (Office for National Statistics) survey confirmed that East Midlands house prices grew by 7% in the year to October 2017, the strongest growth of all the UK regions. The region also saw the fastest rise in rental growth, up by an average of 2.7%.
This positive news for the local property market is further underpinned by lots of economic development in the area, such as
- the planned expansion at East Midlands Airport, to reinforce its position as the UK’s second busiest air freight terminal
- the development of the East Midlands rail freight hub on a site close to the airport, which is forecast to create 7000 new jobs
- the continued success in our local transport and engineering sectors, at the internationally renowned companies Bombardier, Rolls Royce and Toyota
- the launch of the Infinity Park ihub centre, a new innovation and technology park close to the Rolls Royce headquarters
Against this background, strong population growth is forecast for the East Midlands in the years ahead, most notably in the South Derbyshire area with its proximity to the airport.
The local buy to let market looks set to go from strength to strength!!
If you are interested in becoming a landlord or looking to expand your portfolio, we offer a FREE ‘Property Sourcing Service’ which you will find invaluable. More information on this can be found in the landlord section of our website.