Letchworth rents have risen by 18.6% since 2005

The Letchworth Property Market is a very interesting animal and has been particularly fascinating over the last 12 years when we consider what has happened to Letchworth rents and house prices. There’s currently much talk of what will happen to the rental property market following Brexit. To judge that, I believe we must look what happened in the 2008/9 credit crunch (and what has happened since) to judge rationale and methodically, the possible ramifications for long-term investors in the Letchworth property market. You see, an important, yet overlooked measure is the performance of rental income vs house prices (i.e. the resultant yields over time). In Letchworth (as with the rest of Great Britain), notwithstanding a slight drop in 2008 and 2009, property rentals have been gradually increasing. The income from rentals has been progressively increasing over the last 12 years. Today, they are 18.6% higher than they were at the beginning of 2005. In fact, over the last five years, the

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One bedroom apartment in Letchworth with great potential rental yield!

This property has just come to the market through an online agent – Housetree.  The asking price is £142,000 and the potential rental yield is over 5% – well worth considering!  Take a look at the advert here and get round to see it

Letchworth Rents To Rise Quicker Than Letchworth Property Prices In Next 5 Years

The next five years will see an interesting change in the Letchworth property market. My recent research has concluded that the rent private tenants pay in Letchworth will rise faster than Letchworth property prices over the next five years, creating further issues to Letchworth’s growing multitude of renters. In fact, my examination of statistics forecasts that .. By 2022, Letchworth rents will increase by 24%, whereas Letchworth property values will only grow by 19%. Let me explain why I have come to those conclusions: Over the last five years, property values in Letchworth have risen by 53.0%, whilst rents have only risen by 18.6%. Throughout the last few years, and compounded in 2016, tenant demand for rental properties continued to go up whilst the Press predicted some landlords expect to reduce their portfolios in the next couple of years, meaning Letchworth tenants will have fewer properties to choose from, which will push rents higher. In fact, talking to fellow property

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Letchworth’s housing affordability hits a ratio of 10.10 to 1

A Letchworth homeowner emailed me last week, following my article posted in the Letchworth Property Blog about the change in attitude to renting by the youngsters of Letchworth and how they thought it was too expensive for first time buyers to buy in Letchworth.  There can be no doubt that buy to let landlords have played their part in driving up property values in Letchworth (and the UK) and from that made housing a lot less affordable for the 20 and 30 somethings of Letchworth. They went on and asked if the Bank of England (BoE) should be tasked to control house price inflation in the same way as the BoE controls inflation.  The BoE has a target for the annual inflation rate of the Consumer Prices Index of 2%, whilst it is also required to support the government’s economic policy, including its objectives for growth and employment.  So, should BoE be charged with containing buy to let housing market,

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203 Properties For Sale in Letchworth … is this a good time to sell?

2017 has started with some positive interest in the Letchworth property market.  Taking a snap shot of the Letchworth property market for the first quarter of 2017, the picture suggests some interesting trends when it comes to the number of properties available to buy, their asking prices and what prices properties are actually selling for. Let us first consider the number of properties for sale, compared to 12 months ago: When we add in building plots and other types of properties that don’t fit into the four main categories, that means there are 203 properties for sale today compared with 123 a year ago, a rise of 65%. Secondly, Letchworth asking prices, compared to the same as a year ago, are 7% higher. With that in mind, I wanted to look at what property was actually selling for in Letchworth. Taking my information from the Land Registry, the last available six months property transactions for SG6 show an interesting picture (note

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Great three bedroom property in Letchworth……..

Our Satchells sales team are selling this family size home which has been re-furbished/re-modelled and is ready for a tenant to just move in their furniture.  If you’re a landlord looking for an immediate rental income call them before someone else does!  Potential rental yield of around 5%!    Have a look at the advert on Rightmove here