How much have Andover property values increased?

Last week, a landlord 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 5 years the average property value in Andover has risen by nearly £26,767, from £201,889 to £237,669. This is a very reasonable 12.69% increase. When we looked at the values for semi detached houses, this average increase is even greater at £31,971. This is a considerable average increase of £122.96 per week.

When I looked at some of the surrounding towns, Ludgershall has a lower average increase in property value, at around £117.84 per week. It is, nonetheless, a rise in average property values to suggest the market is doing well in our area.

When considering this landlord’s buy to let portfolio, the rental values increased somewhat during the 12 months. Therefore it could be a good time to invest in the property market in Andover and Ludgershall.

If you would like some advice about buying to let, please come and see us at our offices.

Demand still on the increase but price rise slows

The latest Halifax House Price Index has shown that the price increases seen in recent times are beginning to slow.

In the 3 months up to September prices showed an 8.6% increase compared to the same period last year and are showing and are showing a 9.9% increase in the 3 months to August.

However, prices fell a little between August and September with the average house price now standing at £202,859.

Martin Ellis, Halifax housing economist, saw no reason for pessimism though as demand is on the increase and he expects prices to carry on increasing.  He recently stated “Housing demand has been strengthening recently, underpinned by economic growth, rising real earnings and very low mortgage rates.

“Increasing demand is combining with very low growth. There is little reason to expect any fundamental shift in the key market drivers over the coming months.”


Separate research showed that detached houses and bungalows had shown the slowest growth in value over the past decade at 21% and 28% respectively while flats have shown the greatest increase at an impressive 60%.

Oh joy, yet more changes in legislation! This time it’s Section 21 Notices

It seems to us that the law changes virtually every day regarding the lettings business so here is the latest little update you need to be aware of regarding Section 21 notices

The salient points are as follows:


The How To Rent leaflet must be served at the commencement of the tenancy and upon any renewals. The best advice is that all 3 documents (EPC, gas safety certificate and How to Rent leaflet) should be served again when a Section 21 is served. 

The above documents can be provided in hard copy format or via email.
The 'How to Rent: the Checklist for Renting in England' does not need to be supplied every time a new version is updated. 

You will also need to provide the above documentation when you renew the tenancy.
Section 21s can now only be served after 4 months of the tenancy has passed and also must be used within 6 months of being served.

An 'adequate response' must be provided to tenants within 14 days of any maintenance request being made - this is to stop the serving of a Section 21 invalid.  We therefore suggest that all communications with tenants regarding repairs should now only be made in writing, producing an evidence paper trail if required.

Click here to go to the How to Rent section of the government website

Click here to see the full legislation on tenancy notices and prescribed info requirements

Landlords: The deadline is tomorrow, do you know the guidelines?

As the deadline for the new regulations regarding carbon monoxide and smoke alarms gets ever closer, recent research by British Gas has shown that less than 50% of Landlords are aware of them.  There is an element of confusion regarding these rules so we will attempt to simplify things.

What we do know is that Landlords or their agents will, from 1^st October, have to be able to provide evidence that a smoke alarm for each floor in a property is in place and working and that a carbon monoxide alarm is in place if solid fuel is in use. 

The Landlord or agent must test the alarms on the day of the tenancy starting, asking the tenant to check is not enough.  We would suggest that a note is made on the inventory stating that the alarms were working on the day of move in and get the tenant to sign to this effect.

Once the tenant is in, it is their responsibility to check / replace batteries but we would still recommend these be tested on inspections and any corrective measures needed are put in writing to the tenant.

For further updates on more up and coming changes, follow our blog..

The full legislation can be found here

A great little investment property

Now those of you who regularly follow our blog will know I am a great fan of the ex local authority property.  They are generally well made with loads of storage and good sized rooms.  They always rent very well too.

Below is a link to a property I spotted a few days ago which has had a price reduction.  Yes, I accept it needs some work as mock stone effect is not to everyone’s taste!  The work needed is probably mainly cosmetic so not only does it make a great buy to let, you could probably make a little on the re-sale too!  

Three bedroom house on Galahad Close

For any advice on buy to let, pop in and see us at our Bridge Street offices.

Average void period drops as demand grows

Specialist lender Paragon recently carried out a survey of the private rental sector.  It showed a few interesting facts:

• The average void period has dropped below 2.6 weeks per year, the first time this has happened since 2002
• Yields have gone up slightly over the last 3 months from 6.3% to 6.4%
• Landlords surveyed said that demand was stable although 40% said it was increasing
• More than half of those surveyed expected to see an increase in tenants looking over the next 12 months.
• Substantial numbers of Landlords are considering expanding their portfolios.

Perhaps the most interesting fact to come out of the survey is the change in demographic of people choosing to rent.  This, in turn, is starting to affect the way Landlords are thinking and buying.  More are choosing to move away from multi block properties and looking at more terraced housing, suitable for young professional couples and families.

For more advice, pop in and have a chat.

Tenant demand hits an all time in high across the UK

A recent report by Rightmove has shown that rising property values have pushed more people into the rental market as they have been priced out of the buying market.  This in turn has led to an increase in rent in nearly all areas of the UK as demand continually outstrips supply.

Rightmove report a 52% increase in email enquiries compared to the same period last year.   Prices also increased by 2.7% in the second quarter of the year.

Outside London, average rents increased from £741 in the first quarter to £761 in the second quarter which showed an increase of 4.2% on the second quarter of last year.

The head of lettings at Rightmove, SamMitchell said “Rents have grown this quarter in nearly all regions of England and Wales, fuelled by demand outstripping supply in many of the sought-after areas, especially in the east of England and the more affordable areas of London”.