ONS figures show East Midlands house prices increased by 6% over the last year
HM Land registry have released this month the data for the House price index for England year to September 2018. It lists the annual price increases for the regions and the East Midlands have seen a 6% increase on house prices achieved 12 months ago. This has to be a reflection of the South and London housing markets slowing down.
You may have seen the Daily Mail reports talking about the North / South divide in property inflation being over. While the West and East Midlands have had a 6.1% and 6% increase - outperforming all other regions - is it enough to say there is no longer a divide? It is certainly showing that the East Midlands is catching up!
We know that the East Midlands is in a great location and with the added economic investment near East Midlands Airport and in the major cities of Leicester, Nottingham, Derby, and Loughborough.
Bingham is on the edge of Nottingham and has a good supply of excellent primary and secondary schools. It has always been a popular choice for families and sees a high demand for rental properties, the large new housing development currently being built here will certainly be sought after.
The Daily Mail article talked about people moving looking for a better value property. Bingham certainly offers a lot of house for your money for anyone moving up from the southern regions.
Personally I have seen friends returning to the area this year now they are looking to settle down after working in London since graduating. When they are ready to buy it is the East Midlands that can provide access to employment opportunities and is still close enough to easily see friends and visit London.
I believe the value of the properties in the Bingham area will continue to increase as the East Midlands continues to grow in strength economically and the town will provide a sound investment for anyone looking to purchase a property.
To get an up to date property valuation or honest opinion on the rental return of a buy to let please do not hesitate to contact me. Katie Archer 01949 714101