Selling Houses Fast In Derby: Sales, Lettings And Developments
Living in Derby offers residents the best of both worlds, they are amongst the hustle and bustle of city life, while being a stone’s throw away from the luscious countryside. Most residential areas are either a short distance away from the city centre or a short distance away from the rural beauty of Derbyshire, including the Peak District.
Derby has a competitive property market with prices that demonstrate value for money, while the location offers potential buyers something extra, with retail outlets and leisure facilities.
The Derby housing market is currently experiencing what is known as a ‘mini boom’, as house prices are rising at one of the fastest rates in the UK. According to Rightmove, asking prices in Derby have jumped by 7.9% in the past year, more than double the national average.
Estimates from Rightmove show that the average house price in Derby is £175,128. Most of the sales in Derby over the past year were semi-detached properties which on average sold for £158,020. Detached properties had an average sold price of £263,548 and terraced properties averaged at £123,083.
The main goal of any buy-to-let landlord is to have a larger return on rent, than if they were buying the property to live in themselves. Landlords want to pay as little as possible for the property with the aim of getting a bigger return.
According to Professional Properties, in the last 12 months the average buy-to-let semi-detached house in Derby sold for £163,092 and the average rent paid is £624. The average yield for a landlord on this investment is 4.59%, proving to be a solid return for any landlord.
However, yield isn’t the only condition that landlords need to consider when purchasing a buy-to-let property. Landlords should always look into void periods, as these are often more prominent in lower cost properties.
The benefit of living in Derby is that you have a mixture of the city lifestyle and as well as living close to the countryside towns such as Buxton in Derbyshire. With this, estate agents all want to have a hand in property in the area.
Miller Homes and Barratt Homes both have new developments in the Derby area, accompanied with incentives to help people to move at affordable rates. Both home builders have properties within the Highfields development, which due to the location, is one of the most sought after areas in the Derby housing market.
New build homes are attractive for first-time buyers in particular, as they can qualify for the Help to Buy scheme. The Help to Buy scheme makes it easier for first-time buyers to get onto the property ladder by offering lower deposits on new build homes. The more people who set up a scheme, the more the market will thrive for new-build homes within the city over the coming years.
Located 15 miles away from Derby, Nottingham has a lot going on. With two major universities located in and around the city centre, it is packed full of students who are always looking for a place to live. With an average house price of £185,587 it is a little more expensive than neighboring Derby.
Situated in Derbyshire, Ilkeston is a much cheaper place to live than Derby. Ilkeston lies on the River Erewash and is surrounded by museums and parks that you can explore on your day off. The average house price in the area is £133,573 and it is the perfect answer if your budget doesn’t stretch as far as Derby house prices.
Located near the Midland Railway Centre and the children’s amusement centre, Planet Happy, Ripley has lots to offer for family fun activities. Ripley is in the middle when it comes down to prices in surrounding areas. The average price of a house is £153, 094, which is a little more expensive than Ilkeston, but cheaper than nearby Nottingham.