We are often asked “What is happening in the Derby Market?”.
The vexing question for most is “Should I sell my property now?”
There is no doubt that the positive days of real estate in Derby are returning. There has been lots of movement in both the rental and sales markets but in particular the tightening rental market is a key indicator of a changing market no matter where you are.
It is worth remembering that in general the forerunner to property prices increasing is what is happening in the rental market. It is a fact that the number of available rental properties is at its lowest in 5 years. As the graph above shows in 2017 there were on average 50 properties advertised for lease in Derby and now there are on average less than 5! This has led to rental returns slowly rising again, investors regaining confidence in Derby and the sale price of properties starting to increase. In certain sectors.
We are certainly not saying the boom days have returned but with several exciting projects gaining solid traction, most notable Sheffield Resources’ Thunderbird Mine now is the time to assess where your property is at and where can we go from here.
If you would like to know more about the changing Derby Market or curious as to your properties value then call our Derby Sales Consultant, Amanda Woosnam today on 0478057111 for a free, no obligation appraisal.