Saturday, 31 May 2014

Property values rise by £304 per week in Royal Tunbridge Wells

Last week, a landlord who lives in Groombridge, near the Junction Inn and the lovely Cricket pitch, came in to our office to discuss the rising property values in the area. He owns a varied portfolio of rental properties, primarily in Royal Tunbridge Wells and Crowborough with one in Tonbridge, so it is interesting to compare the increase in property values around the area.

Over the last 12 months, in Royal Tunbridge Wells, average property value’s have risen from £360,300 to £376,150, a rise of just over £15,850, or £304 per week. When I looked at some of the surrounding areas, Crowborough has had a much higher average increase in property values, at around £567 per week, whilst Tonbridge has a similar modest rise to RTW’s, with an average increase of around £361 per week. A rise in all the town’s average property values which suggests the market is recovering steadily in our area – good news for home owners and landlords alike.

When considering this landlord’s buy to let portfolio, yields can be in the order of 4% to 5% per year, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and it could be a good time to invest in the property market in Royal Tunbridge Wells as property values start to rise. If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please, feel free to pop into our offices near the Railway Station for a chat about the property market in our town.

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