The Cambridge housing market is strong and not showing the same volatility as most of the UK. When studying the changes in rental prices with the house prices between 2009 and 2010; we have noticed a general UPWARD trend.
According to the Land Registry the average property price in Cambridge is currently £270,000 (November 2010) which has increased by 35% from November 2009 £200,000 (information provided by Designs on Property), and according to figures from the Residential Rental Price Index the average rental price in November 2009 was £805.00pcm has now risen to £889.00pcm for November 2010 representing an increase of 10%.
With the trend looking set to continue and increase even more, becoming a Landlord in such a thriving city would be a good way to enhance your income. With the increase in available university spaces which were granted this year, combined with the growing science park hub demand for more buy to let properties looks set to increase for many years to come.
With a growing local economy has becoming a landlord has ever been more appealing; with rental prices looking set to increase and such high tenant demand.
A typical 3 bed semi detached property was let in June 2010 within 24 hours of it being marketed for a rental price of £1500pcm and could expect to gain a rental income of £1600pcm if it were to become available now.
If you are thinking of property investments here is some useful information for Cambridge Buy-To-Let Landlords from one of the leadings lettings agencies in Cambridge. If you would like to arrange a one 2 one meeting with Terry Lucking our Buy To Let expert just contact the writer of this article Katie Fairburn at on 01223 352225 or Cambridge@Belvoirlettings.com
Why not contact Belvoir Lettings Agency Cambridge for all your Letting needs on 01223 352225 or Cambridge@Belvoirlettings.com . www.belvoir.co.uk/cambridge