Should I invest in Amber Valley?
With approximately 12% of the Amber Valley population in Private Rented Properties – Should you still be investing in Amber Valley Buy To Let?
Did you know that Amber Valley is separated into the following 16 areas, Alfreton, Alport, Belper, Codnor and Waingroves, Crich, Duffield, Heanor, Ironville and Riddings, Kilburn, Denby and Holbrook, Langley Mill and Aldercar, Ripley, Shipley, Horsley and Woodhouse, Somercotes, South West Parishes, Swanwick and Wingfield? When all of these areas are combined the total number of households in Amber Valley is about 52,600.
Amber Valley has a population of around 135,000 people, so when I looked at the number of people who lived in private rented accommodation, the numbers really surprised me … roughly 16,000 people in the Amber Valley area live in privately rented accommodation.
In my day to day work I speak with many people who live and invest in all areas of Amber Valley. Many buy-to-let landlords in this area tell me that they are feeling a little bruised by the assault made on their wallets after the HM Treasury’s tax changes on buy-to-let properties. There are concerns that some buy to let landlords will begin to sell large portions of their portfolios and therefore the rate of increase in property prices we have been enjoying recently, will begin to slow.
We may begin to see yields rise if Amber Valley property prices stumble, and it may also make it easier to obtain a buy-to-let mortgage, as the income received from the investment should cover more of the interest cost. If property values were to level off or reduce, this situation could help Amber Valley landlords add to their portfolios. Rental demand in Amber Valley is expected to stay strong and may even see an improvement if uncertainty in the housing market becomes protracted.
With almost 12% of Amber Valley people in private rented accommodation and the current view that it is likely that this figure is set to grow over the next decade, now might just be a good time to buy property in the area. After all as I’ve said previously there is nothing like bricks and mortar!