Last week, a landlord who lives in Chandlers Ford, came in to our office to discuss the rising property values in Southampton. He owns a varied portfolio of rental properties, primarily in Southampton with a couple in Eastleigh and one in Portsmouth, so it is interesting to compare the increase in property values around the area.
Over the last 12 months, average property values in Southampton, have increased by an impressive £225 per week. When I looked at some of the surrounding towns, Eastleigh has had a lower average increase in property values, at around £213 per week, whilst Portsmouth has an even more modest average increase of around £59 per week. It is, nonetheless, a rise in average property values, which suggests the market is recovering steadily in our area – good news for home owners and landlords alike.
When considering this landlord’s buy to let portfolio, the rental values have remained fairly stable during the last 12 months. They are however slowly recovering to the average of around 5 years ago, therefore it could be a good time to invest in the property market in Southampton. If you would like some advice about buying to let, either as a landlord with a portfolio or someone thinking of investing for the first time, please give me a call or come and see me at our offices on London Road in Southampton.
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