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Monday, 19 May 2014

Property values rise by £139 per week in Weymout

Last week a Landlord who lives in Dorchester came into our office to discuss rising property values in our part of Dorset.  He owns a varied portfolio of rental properties in Weymouth and Dorchester.  He thought that Weymouth prices were beginning to move.  What I discovered surprised him and I must say myself.

Over the last two years in Weymouth average property prices have risen by £139 per week  but over the last 12 months that increase has been only £44 per week meaning that the growth has slowed considerably over the last 12 months.   In Dorchester a similar scenario has played out - the overall growth over 2 years  has been £33 a week, significantly less!  However any rise in a towns average property values suggests that the market is recovering steadily – good news for home-owners and landlords alike.

When considering a landlords buy to let  portfolio yields can be in the order of 4-7% per year, depending on where you buy, so it is best to combine that with steady rental growth and good capital increases in the value of the properties themselves.    With prices’ locally bucking the national trend of galloping inflation but with some steady growth there already now could be the time to invest in the property market before prices start to rocket.   If you would like any advice about buying to let, whether you are an established landlord with a portfolio or someone thinking to put a toe in the water of the rental market please do pop into our office in Weymouth at the top of St Thomas street.

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