Recently, a landlord of ours 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 12 months the average property value in Andover has risen by £25,517 to £328,694. This is a very respectable 8.42% increase or £491 per week. When we looked at the values for semi detached houses, this average increase is even greater at £31,712. This is a considerable average increase of £609 per week!
When I looked at some of the surrounding towns, Newbury has a lower average increase in property value, at around £413.69 per week, whilst Salisbury has an even more modest average increase of around £215.84 per week. Still better than your money will do in the bank!
When considering this landlord’s buy to let portfolio, the rental values have remained fairly stable during the 12 months with some small increases. However, it shows that Andover is becoming more and more popular with both buy to let investors and home buyers alike and from these figures you can see why!