He owns a varied portfolio of rental properties, primarily in Chichester, with a couple in Arundel Park and another one on the Somerstown estate, so it was interesting to compare the increase in property values around the area.
Over the last 12 months, in Chichester as a whole, property values have increased by an impressive £130 per week. When I looked at some of the areas within the city, Somerstown had a slightly lower average increase in property value at around £72 per week, whilst Arundel Park had a similar modest increase of around £111 per week. It is, nonetheless, a rise in average property values to suggest that the market is growing in our area - good news for home owners and landlords alike.
When considering this landlords buy-to-let portfolio, rental values have increased in the South East by 5.5% over the last 12 months (based on March 2014 vs. March 2015). Considering further still that the monthly variance between February 2015 and March 2015 showed a growth of 1.4%, the signs are that rents may continue to steadily rise. Therefore, it could be a good time to invest in the property market in Chichester. 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 for the first time, please give me a call - 07875 957955.
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