Property values rise by £667 per week in Cambridge

Last week, a landlord who lives in Peterborough came in to our office to discuss the Cambridge property market. He owns a varied portfolio of rental properties, primarily in Cambridge and Peterborough with one in Oxford, so it is interesting to compare the increase in property values between the three cities.
 

 

Over the last 12 months in Cambridge average property values have risen from £339,600 to £374,300, a rise of £34,700 or £667 per week. When we looked at other cities he owned property in, Oxford has had a much higher average increase in property values, at around £761 per week(taking the average value of a property in Oxford from £389,700 12 months ago to £429,300 today) , whilst Peterborough has had a much lower rise of around £171 per week.

However, when one looks at the percentages, Cambridge has performed the best, rising by 10.2% in the last 12 months, compared to Oxford at 10.1% and  Peterborough’s at 4.9%!  When we look back over the last four years Cambridge property values have risen by 19.54%, Oxford’s by 19.03% but Peterborough’s by only 10.9%.  It is, nonetheless, a rise in all the cities average property values which suggests the market is increasing steadily in our area, but especially Cambridge– good news for home owners and landlords alike. 

 

When considering this landlord’s buy to let portfolio, yields can be in the order of an average 4% to 6% per year, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and it could be a good time to invest in the property market in Cambridge as property values start to rise.

 

If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please come and see us at our office on Mill Road, Cambridge or email us at cambridge@northwooduk.com  or telephone us on 01223 40 26 40.