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Buy to let area guide: Belper

Belper is a property micro-market, bucking the slow down trend” – Zoopla


Our area guides have been created to help buy to let investors who are considering purchasing residential properties in the Amber Valley area. In this article we will focus on Belper.


Information about Belper

Situated 7 miles north of Derby is the popular town of Belper, it has an estimated population of 21,823 (Census 2011).

The town has a rich industrial history and forms part of the Derwent Valley Mills World Heritage Site, its other attractions include award winning high streets and tranquil river gardens. These attractions and many more have been a pull for tourists and house hunters for years.

Market Trends

In a time when the British property market is slowing down and property prices are not rising as much as previous years, Belper has been recognised as a ‘micro-market’ which does not follow the national trend.

A study by Zoopla (UK property resource) highlighted that as of June 2017 the average British property price had risen in value by £3039 since the start of the year. Compared to the same study in June 2016 which reported the average property price had risen by £13,852 for the first 6 months of the year.

However, Zoopla highlighted Belper as the best performing British town for increase in property value.  Where other towns had seen a slow rise in property prices, the average property price in Belper has increased in value by £16,597 since the start of the year. This is a 7.43% increase, higher than the national average of 1.1%.

Average Rental Prices in Belper

With already such an increase in property value, investors may consider themselves late to the party to buy in Belper, however, if you’re considering buying then you may want to know what rental return you could expect to achieve.


The tables below will provide an indication of the average rental prices specific to property type and the number of bedrooms for properties in Belper
:

House Type

Average Rental Price PCM

Terraced

£541.00

Semi Detached

£591.96

Detached

£773.59

Bungalow

£596.91

Flat/Apartment

£463.71

 

Number of Bedrooms

Average Rental Price PCM

1

£417.68

2

£528.60

3

£657.65

4+

£872.55

Figures taken from Rightmove – Asking rents for Belper properties advertised between July 15 – July 17

What and Where to buy in Belper?

Belper
has a varied housing stock including a mix of older stone built properties and more modern developments. When compiling the average rental prices, I noticed that the age of a property can cause a big difference in the rental prices that can achieved for the same house type.


I would advise an investor to present their intended purchases to an estate agent before submitting an offer, the estate agent should be able to give an indication on what rent could be achieved, helping to determine the potential yield.

Whilst far from conclusive, I hope you have found this information useful.

Have you found a potential property to buy?
Present the property details to us and we would be delighted to provide a rental appraisal.



Jak Gould
Co-author of Amber Valley Property News

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