Whether you are considering purchasing a buy to let or your dream home in Amber Valley it might be worth knowing how the borough’s towns have been performing over the past few months.
I’ve been speaking with several agents both locally and nationally over the past few weeks about how they are finding the property market and there appears to be a feeling across the board that there are less properties being placed on the market for sale and as reported in last month’s issue, property prices across the country are likely to increase at a much slower rate than that previously enjoyed over the last five years.
The monthly average of properties sold in Amber Valley’s main towns over the last twelve months was estimated at around 159 per month. In May the average number of houses sold fell to roughly 66 properties showing a decrease residential properties sold by almost 59%.
Have these changes to the supply of property in Amber Valley, affected property values? Alfreton has seen a reduction of almost 9% in the price paid for properties over the past twelve months, Ripley has suffered a minimal change with the average sold price decreasing by 0.3%. Both Belper and Heanor have seen an improvement in property values, albeit only a steady increase, Heanor house prices have risen by roughly 4% over the past year and Belper house prices have increase by a healthier 11%.