Last week, a landlord came in to our office to discuss the rising property values in Falkirk. He owns a varied portfolio of rental properties, primarily in Falkirk, and is thinking of buying more properties so he was interested in comparing the increase in property values around the area.
Over the last 12 months the average property value in Falkirk
has risen by nearly £5,962, from £150,529 to £156,491. This is a healthy 3.94%
increase or £114.66 per week. When you dig a bit deeper, the values for terraced
houses has performed the best in percentage increase terms with the average
increase over the last 12 month being £6,795 or 6.55% whereas semi-detached
houses have performed the worst as they have only seen an increase of value of
£588 or 0.39% over this period. The
value of detached houses and flats has increased by 4.60% and 2.72%
respectively so they are somewhere in between terraced and semi-detached
houses.
When we looked at some of the surrounding towns, what we
found was very interesting. Polmont has
a highest average increase in property value of the surrounding towns at around
£119.67 per week which is slightly greater than Falkirk but all the other towns
in the area have had lower increases as Larbert increased by £112.44 per week,
Bonnybridge by £90.73 per week, Grangemouth by £63.40 per week, Linlithgow by
£61.06 per week and Bo’ness by £36.44 per week.
So overall average property values in the area have risen
which suggests that the local property market is reasonably healthy although,
as always, there are pockets that are doing better than others.
When considering this landlord’s buy to let portfolio,
the rental values have been increasing over the last 12 months continuing the
trend of the last few years.
So with rising property prices and rents, it could be a
good time to invest in the property market in Falkirk.
We hope you find our posts useful. If you would like some advice with your
potential investment, please call me (on 01324 469840), come and see me in our
offices (6 Vicar Street, Falkirk) or email me (robert@thekeyplace.co.uk).
#falkirk #property #buytolet #realestate
#ownermanagedbusiness #retirement #retirementplanning #energyefficiency
#privaterentedsector #prs #privaterentedsector #firsttimebuyers
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