Last week, a landlord came in to our office to discuss the
rising property values in Penicuik. He owns a varied portfolio of rental
properties, primarily in Penicuik, and is thinking of buying more properties so
he was interested in comparing the increase in property values around the area.
Over the last 12 months the average property value in Penicuik
has risen by nearly £10,484, from £153,900 to £178,868. This is a very
reasonable 6.2% increase or £201.62 per week. When we looked at the values for
detached houses, this average increase is even greater at £18,221. This is a
considerable average increase of £350.40 per week.
When we looked at some of the surrounding towns, what we
found was very interesting. Roslin has a
higher average increase in property value, at around £240.40 per week, whilst Auchendinny
has a lower average increase of around £169.06 per week but Bilston actually
saw a slight fall in average property prices of around £49.31 per week.
So overall average property values in the area have risen
which suggests that the local property market is recovering although, as
always, there are pockets that are not doing so well.
When considering this landlord’s buy to let portfolio, the
rental values have been increasing over the last 12 months continuing the trend
of the last few years.
So with rising property prices and rents, it could be a good
time to invest in the property market in Penicuik.
We hope you find our posts useful. If you would like some advice with your
potential investment, please come and see us in our offices (6 Bank Street,
Penicuik) or email either of us (robert@thekeyplace.co.uk;
linda@thekeyplace.co.uk).
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