Derby Property gets a surprise 9% boost!

DERBY147It doesn’t seem like two minutes ago that it was Christmas – and now it’s all over!

Just before the end of the year and after taking down the office Christmas decorations for another year, I thought I would nip out for a quick festive coffee and over-priced mince pie at my favourite local coffee shop; The Book Cafe.  I met an old client of mine and we got talking about the Derby property market. I had just completed my research for my next article and I would like to share with you the parts of the conversation we had.

He asked me what my thoughts were about the last half of the year in regard to the Derby property market and if there were any great buy to let deals around. In reply I said that, in my view, shrugging off the uncertainty of the latter half of the year, I have seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy to let landlords have been returning in the last few months – proof the market is beginning to bounce back.

So let’s look at the numbers ..

At the back end of 2016, according to the three main property portals – Rightmove, Zoopla and OnTheMarket – there were a total of 359 properties for sale in the DE22 postcode. In December 2015, there were only 330 properties for sale, a rise of 9%.

When I split it down into bedrooms (note that things like building plots and part commercial/part residential etc won’t be in these figures so the numbers below won’t exactly match up to those in the above paragraph!).

  # Properties For Sale in Dec 2015 # Properties For Sale in Dec 2016 % Change
5+ Bedrooms 17 24 +41%
4 Bedrooms 67 74 +10%
3 Bedrooms 112 111 -1%
2 Bedrooms 121 128 +6%
1 Bedroom 12 21 +75%

.. and when I looked at type of properties  .. it got even more interesting

Type of Property # Properties For Sale in Dec 2015 # Properties For Sale in Dec 2016 % Change
Detached 103 129 +25%
Semi 81 71 -12%
Terraced 90 90 0%
Flat 35 51 +46%

As the number of DE22 properties put up for sale has risen by 9%, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is renewed confidence in the Derby property market and there are also signs that people are being more realistic about pricing their property – the most important factor if you want to sell your property!

As you can see, there has been a good uplift in flats, which means they are a great choice for first time buyers and landlords. So with a combination of realistic pricing and more properties on the market – both first time buyers and landlords alike might be able to pick up a few bargains!

If you are on the lookout for an investment property or if you are a first time buyer looking for a good first property, ring me on 01332 366171 or drop me an email!