Average Rent of Two-Bedroom Properties in Northampton

 

In Northampton, the average price for renting a two-bedroom property is £1,019 per calendar month. This figure represents a blend of various types of properties, from cosy apartments to spacious houses, reflecting the diversity of options available in our town. While the actual rent may vary depending on the property's location, type, and condition, two-bedroom homes offer excellent flexibility for tenants, whether you're a small family, a couple, or professionals sharing a space.

Two-bedroom properties in Northampton are highly sought after due to their versatile nature. They can comfortably accommodate a small family, provide extra space for a home office, or offer an additional room for guests. This adaptability makes them an attractive choice for a wide range of renters.

If you are a landlord interested in understanding more about the rental market in Northampton, or discussing how you can maximise your property's potential, please do not hesitate to contact me on 01604 801 962. I am always available to provide insights and advice tailored to your specific needs. Simply pick up the phone, and let's explore the opportunities together.

The Post General Election Northampton Property Market

 

Despite the anticipations and speculations surrounding the UK General Election, its impact on the UK and Northampton property market has been negligible.

Market trends, buyer interest, and property values have remained steady, showing no significant fluctuations attributable to the political climate. This stability suggests that factors such as economic fundamentals, interest rates, and housing supply continue to play a more crucial role in shaping the property market's dynamics than the election results.

Northampton homeowners and buyers alike have maintained their focus on these core elements, demonstrating resilience and continuity in their property-related decisions. So, as the commentators predict a Labour 'Super Majority', could we see another ‘Boris Bounce‘ in the post-election months like we saw in early 2020?

If we do, what could it be called? The ‘Starmer Surge’?

Yet before we pop the Champagne (or commiserate with the same stuff), it doesn't matter. Why? Irrespective of who wins the election, there are bigger fish to fry.

Homeowners looking to sell their properties will encounter increased competition, 'Starmer Surge' or no 'Starmer Surge', as more homes will be listed for sale in the coming months. The rise in mortgage rates has significantly impacted potential buyers' incomes, reducing affordability and demand. This shift has led to price corrections in previously buoyant regions, especially in the south. Local factors such as reputable schools, amenities, and public services remain critical for prospective buyers.

 

Avoiding the Overpricing Trap

Some estate agents may advise homeowners to list their properties at inflated prices, only to suggest a price drop months later. Large estate agencies can afford to keep many homes listed unsold, whereas smaller agencies rely on consistent sales and tend to propose more realistic prices.

I've witnessed numerous Northampton homeowners being advised to place their properties on the market at elevated prices despite their reservations. Over time, with few viewings and no genuine offers, they reduce the asking price. This initial overpricing often results in prolonged waiting periods and missed opportunities to purchase desired homes. Homeowners may think they are immune to such tactics, but the allure of a higher valuation can be tempting.

It's natural to want to price your Northampton home ambitiously. While dipping your toes in and testing the waters with a slightly higher price tag is perfectly understandable (a practice we occasionally employ at our agency after discussions with the home owner), refusing to adjust the asking price after a few weeks of minimal interest can be costly. An overpriced home can stagnate, leading potential buyers to suspect something is wrong with it. The longer it remains unsold, the more stigmatised it becomes.

A lack of early interest and viewings should be a clear signal to reconsider the asking price. Being responsive and proactive is crucial if there are no serious inquiries or offers within the first few weeks. By doing so, Northampton homeowners can avoid the traps of a stale listing and increase their chances of a successful sale and move.

The Current UK & Northampton Property Market Landscape

If one compares the number of UK homes sold year to date (YTD) in 2024 (459,682), it is 11.3% higher than the YTD net sales in 2023, yet it is 22.9% lower than the YTD figures in 2021.

However, when we look at the number of homes for sale today, there are 694,281 UK homes for sale compared to 481,242 UK homes for sale in May 2021 (44.3% lower).

Thus, the number of UK net homes sales is lower, yet the number of homes for sale is much higher. Delving deeper into the Northampton stats…

(Northampton area = NN1 to NN7).

Roll the clock back to May 2019, there were 2,999 properties for sale in the Northampton area. One year on and the pandemic had hit, so the number of properties for sale reduced by 27.6% (to 2,171 Northampton homes for sale). Moving on to May 2021, and the number of Northampton homes for sale was now at 1,950 (which is 35.0% lower than the May 2019 number). However today, that figure now stands at 2,803, a substantial increase of 44% from the May 2021 numbers.

Remember that only 51.9% of the properties that have left UK estate agents books since the 1st of January 2024 have sold and completed (the remaining 48.1% came off the market, unsold). You can see that by only having an almost 50-50 chance of actually moving home if you put your house on the market, the importance of correctly pricing your home and having a great agent to market it is so essential (surge or no surge).

 

Determining the Right Price for your Northampton home

Northampton homeowners can arm themselves with valuable information about the local property market. Online platforms provide data on sold property prices in specific areas, offering benchmarks. £/sq.ft figures are vital to compare yourself against your competition. Additionally, the time properties spend on the market can provide insights into how efficient an estate agent is, with portals like Rightmove and Zoopla offering valuable data, plus my own Northampton property blog.

When selling, obtaining valuations and market appraisals from multiple agents and critically analysing them is essential. Agents should provide evidence to back their valuations, enabling homeowners to make informed decisions.

Rethinking the Selling Strategy

The Northampton property market tends to shift collectively, like boats on the same tide. The market remains manageable as long as homeowners aren't facing financial losses and can manage an upgrade. Many assume continuous gains when selling their home, but real profit only materialises when one parts with your final property. This profit might not be realised directly but could be used later for care expenses or as a legacy for children or grandchildren.

Once a property is put on the market, it is crucial to focus on its online and offline marketing journey. The initial four weeks provide insights into whether the property is priced correctly, gauged by the number of web views on portals, actual viewings, and offers received. One strategy employed by some savvy Northampton home sellers is listing their property at a slightly lower price to spark more interest and drive up offers.

Deciding to reduce the listing price involves more than attracting buyers; personal timelines and goals play significant roles. For instance, is there a deadline by when the property must be sold? Could waiting a couple of months make a difference? These considerations help in making thought-out, informed decisions on asking price adjustments.

Boutique agents, like our agency in Northampton, can offer a more authentic experience and realistic valuations in a challenging market.

Switching Agents or Going Online?

In a slow property market, patience can wear thin. If considering switching agents, sellers should evaluate the current agent's efforts and communication frequency. Multi-agency agreements are another option, though their popularity has declined recently due to higher associated fees.

Online agencies, with their fixed fees and remote operations, seem attractive. However, their one-size-fits-all model can fail to capture the nuances of individual properties, making them less effective in slower markets.

Renting as an Alternative

Renting out unsold properties is gaining traction as rents rise. However, prospective landlords should be cautious, considering growing mortgage interests, tax restrictions, and tenant-related challenges. If this is a potential option, do give our agency a call.

Final Thoughts

The current Northampton property market is complex. ‘Surge or No Surge’: It's all about being realistic with your asking price. The freeze on the Bank of England base rates offers a welcome pause. While it won't create a frenzy like the mid-2020 stamp duty holiday, any possible drop in the summer or early autumn will be a welcome respite.

With the right strategies and awareness, Northampton home sellers can effectively navigate these waters and ensure their property finds the right buyer at the right price.

If you are a Northampton property owner and this article has sparked any questions, do not hesitate to call our office.

What is June's average £ per square foot?

 

Welcome back to news of Northampton’s property market, where each week I bring you different local property market stats and trends. This week I am back again with the June’s £/sq.ft statistics.

The average property presently in Northampton is on the market for £276 per square foot, a figure representing the current heartbeat of Northampton’s property market.

Last month it was £284 per square foot. 

That doesn’t mean house prices have changed by that percentage, just the mix of properties for sale, thus changing the £/sq.ft figure. This snapshot is crucial for Northampton homeowners and landlords; it's not just a number but a story of our community's property market.

Each month, I will revisit that figure and use it to gauge the health of our local property market.

Are you keen to know how your home aligns with these trends?

At Belvoir Northampton, I invite you to a no obligation chat about your property's potential value – no strings attached.

Stay informed, stay ahead, and stay connected with Northampton’s property market beat.

 

Discovering Northampton: Part 7

 

As we navigate through a world where sustainability and cost-efficiency are at the forefront of Northampton homebuyer and tenant priorities, understanding the energy efficiency of Northampton properties has never been more critical. 

The energy performance certificate (EPC) ratings, ranging from A (most efficient) to G (least efficient), are not only indicative of a Northampton property’s environmental footprint but also have a substantial impact on the running costs for households.

Our latest heat map offers a compelling visual representation of Northampton showcasing the concentration of properties with the coveted 'A to C’ EPC ratings. 

These top-tier energy efficiencies are a testament to the area's commitment to green living and cost-effective energy use. 

The map of Northampton reveals what percentage of homes boast those highest energy A to C’ efficiency ratings, offering residents the dual benefits of lower energy bills and a reduced carbon footprint.

Energy efficiency in Northampton homes is no small matter. 

With the rise in energy costs, the higher 'A', ‘B’ & ‘C’ rated EPC homes not only ensures a warmer, more comfortable living environment but also contributes to substantial savings over time.  

Moreover, these ratings influence property desirability and value, making them a crucial consideration for both current and prospective homeowners & tenants.

For detailed insights into how EPC ratings could affect your property’s appeal and marketability, or if you have any queries regarding your home’s energy efficiency, feel free to reach out. As a knowledgeable letting and estate agent in Northampton, I am here to assist you, irrespective of whether you are considering selling or renting your Northampton home or simply seeking advice on improving its energy performance.

More homes for sale? How does it affect you?

 

The property market has experienced an increase in the number of homes available for sale across the UK. Homeowners in Northampton should take note of this trend and ensure their properties are realistically priced to attract potential buyers. 

Here's a breakdown of the changes in each region:

• South West: Up 23.4%
• Yorkshire and the Humber: Up 19.2%
• Wales: Up 17.5%
• West Midlands: Up 16.6%
• South East: Up 16.3%
• East Anglia: Up 15.5%
• East Midlands: Up 15.2%
• North West: Up 13.4%
• Scotland: Up 13.7%
• North East: Up 9.5%
• London: Up 6.5%
• Northern Ireland: Down 1.2%

With more homes on the market, competition among sellers is high. Therefore, setting a realistic price is crucial to ensure a quicker sale. If you’re a homeowner in Northampton and want to understand your position in the current market, don’t hesitate to contact me for a free, no-obligation valuation or market appraisal of your home on 01604 801962. Accurate pricing, with exceptional marketing from ourselves at Belvoir Northampton, will be key to making your Northampton property stand out and achieve a successful move.

The 5 Step Process to Decluttering Your Northampton Home to Sell

 

This is my five-step decluttering guide to greatly aid Northampton homeowners in both enhancing their living space and boosting their property's appeal to potential buyers.

Here’s my structured plan that progresses from simple to more challenging tasks:

 

Step 1: Start with Surface Clutter

Begin by tackling the visible clutter on surfaces such as tables, kitchen worksurfaces, and shelves. This initial step creates immediate visual improvement and sets a positive momentum. Remove any items that don't serve a functional or aesthetic purpose in the room. Consider implementing storage solutions like decorative baskets or trays to neatly organise everyday items. This phase not only simplifies your space but also makes it more inviting to potential buyers of your home, showcasing the property's true potential without distractions.

Step 2: Organise Wardrobes, Bookcases & Cupboards

Next, focus on internal storage areas like wardrobes, bookcases and cupboards. Buyers will look inside these spaces to gauge storage capacity, so it’s crucial they appear spacious and well-organised. If you are at or near capacity, it will give the impression that there’s not enough space for them to put their items in. Start by decluttering clothes and items you no longer use or need. Adopting a minimalist approach by keeping only what you love and use regularly can significantly free up space. Use organisational tools like shelf dividers, storage boxes, and hanging organisers to maximise efficiency. Bookcases need to be no more than 75% capacity.

Step 3: Address the Paperwork

Paper clutter can be overwhelming yet addressing it can significantly impact the overall feel of your Northampton home. Start by gathering all loose papers, bills, and documents. Sort them into categories such as 'Keep', 'Shred' & 'Recycle'. For essential documents, create a filing system that's easy to maintain. Digitising what you can also save space and reduce physical clutter. This step not only clears physical space but also helps in reducing mental clutter, making your home feel more serene and controlled. 

Step 4: Personal Items

Personal items can make your Northampton house feel like a home, but they can also make it harder for potential buyers to envision themselves living there. Carefully go through personal photographs, heirlooms, and collectables. This step is crucial for depersonalising your space, making it a blank canvas for buyers. Remember, they are buying THEIR next home, not yours.

Step 5: Re-evaluate Furniture & Layout

The final and more challenging step involves reassessing your furniture and the overall layout of your home. Bulky furniture or too much furniture can make spaces appear smaller. Consider the flow of each room and remove or replace items that disrupt this flow or serve no functional purpose. Sometimes, simply rearranging furniture can significantly enhance the sense of space & functionality in a room. This step not only optimises your living space but also showcases your property's potential to buyers, making it feel more spacious and inviting.

Can you think of anything else, do share in the comments!

By following these steps, Northampton homeowners can create a more enjoyable living environment for themselves while also increasing their property's appeal and market value. Each step not only contributes to a decluttered and organised home but also to a property that's more attractive to potential buyers, potentially leading to a quicker sale and a higher selling price.

Why Are So Many Northampton Homeowners Selling So Soon After Buying?

 

The UK property market has seen significant shifts in recent years, particularly during the pandemic.

One of those changes discussed by the Press are the number of properties for sale where the home seller is suffering from ‘buyers regret’. In estate and letting agency online forums, the ‘feeling’ is that there are a lot of properties on the market, where the owner purchased their home during the pandemic years of 2020 and 2021 yet are now back on the market.

There are 694,281 properties currently for sale in the UK and 8.2% (56,931) of them, the owner has only been in their home since the end of the lockdown.

This article will calculate the percentage for Northampton (as the numbers are much smaller and more interesting to Northampton people), the reasons behind this trend and its implications for the local housing market.

The Post-Lockdown Buying Frenzy in Northampton

The pandemic brought unprecedented changes in the British property market. After the first lockdown in spring/early summer 2020, remote working became the norm, and many people re-evaluated their living situation. The desire for more indoor and outdoor space became a priority. This led to a surge in property purchases, particularly in suburban and rural areas. Buyers were eager to escape the confines of inner-city life, seeking more spacious and comfortable homes.

To give you an idea of the numbers, the average number of UK homes sold (including new homes) since 2005 has been 1,169,864 per year (or 292,466 per quarter). Yet, the average quarterly number of UK house sales in the 12 months between Oct 2020 and Sept 2021 was considerably more at 1,553,860 (or 388,465 per quarter).

However, this buying frenzy was driven not just by lifestyle changes but also by favourable economic conditions. Low interest rates and government incentives, such as the stamp duty holiday, made buying a property more attractive than ever. Many people took advantage of these conditions, leading to a boom in property sales.

So, how often do people move home?

Traditionally, homeowners in the UK tend to stay in their properties for a significant length of time. There are 17,693,200 owner-occupied homes in the UK, and in 2023, a total of 1,023,500 (1.02 million) homes were sold.

This 1.02 million figure includes 231,000 new homes, leaving 790,500 sales of existing (second-hand) homes. This is significant because it means that only 4.48% of existing owner-occupiers moved home in 2023, implying that, on average, existing homeowners move every 22 years and 17 weeks.

With this information, one would expect the number of homeowners looking to move so soon after buying their home to be relatively small. Therefore, we decided to analyse the properties for sale in Northampton and see if the statistics match the anecdotal suggestions.

There are 1,193 properties currently for sale in the Northampton area.

Out of these, 112 properties were purchased during the pandemic years of 2020/21.

The breakdown of these properties is as follows:

• Detached Northampton houses: 22
• Semi-detached Northampton houses: 29
• Terraced Northampton houses: 39
• Northampton Apartments: 7
• Northampton Bungalows: 15

This raises the question:

Why are 8.2% of UK (or 9.4% of Northampton) homeowners

looking to sell so soon after buying?

Several factors could be contributing to this trend:

1. Overestimating the Appeal of Suburban/Rural Living: During the pandemic, moving to a more suburban/rural setting like Northampton might have seemed idyllic. However, the reality of suburban/rural living—such as longer commutes, fewer amenities, and a different pace of life—might not have lived up to expectations for some homeowners. As a result, they are now looking to move again.   
2. Changes in Work Arrangements: While remote working was widely adopted during the pandemic, many companies are now calling employees back to the office, at least part-time. This shift can make living in more remote areas less practical, prompting homeowners to relocate closer to their workplaces.
3. Economic Pressures: The financial landscape has also changed since the height of the pandemic. Rising interest rates will make homeownership less affordable for some people, leading them to sell their properties sooner than planned.
4. Market Opportunities: The current property market might allow Northampton homeowners to make a profit. With Northampton property values having increased over the past few years, some owners might be looking to capitalise on this and sell their homes at a higher price.

Implications for the Northampton Property Market

This higher-than-normal number of properties selling so soon after moving in will undoubtedly increase the number of homes for sale.

The average number of properties for sale in the UK in May 2017 was 568,845; in May 2018, it was 660,019; and in May 2019, it was 667,532 (an overall average of 632,132 for three years combined). In May 2024, it was 694,281 (as mentioned in the introduction).

This increase in the supply of homes for sale means Northampton house sellers need to be realistic with their asking prices, as the competition is greater.

To back up the idea that realistic pricing is vital if you want to move home, only 53 out of every 100 properties leaving UK estate agents' books since January 2024 have been sold, exchanged, and completed, while the other 47% have come off the market unsold.

Moreover, this trend could signal a shift in how people view homeownership post-pandemic. The rush to buy during the pandemic might have been more about immediate needs and desires than long-term plans. As the world returns to normalcy, people's housing preferences and requirements will likely evolve, leading to more dynamic movements in the property market.

Final thoughts -

The trend of pandemic-era homebuyers in Northampton putting their properties back on the market highlights the fluid nature of the current property market. While the reasons for this trend are varied and complex, it reflects broader changes in how we live and work. As the property market continues to adjust to post-pandemic realities, buyers and sellers in Northampton must stay informed and adaptable to navigate these changes successfully. One option to stay informed is to follow our agency on social media for more articles like this.

If you are considering moving soon after buying your Northampton forever home only a few years ago and would like to discuss your options without any obligation, then let's have a chat.

Discovering Northampton: Part 6

 

As a leading estate and letting agent in Northampton, I present this detailed heat map showcasing the distribution of apartments and flats across the town. This map is a valuable resource for both homeowners and landlords, providing insights into the varying densities of apartment living in different areas of Northampton.

The red areas, boast the highest concentration of apartments, tending to make it an ideal location for those seeking a vibrant urban lifestyle with easy access to amenities. Conversely, areas shaded in lighter yellow hues indicate a lower prevalence of apartments, appealing to those who prefer quieter, more residential neighbourhoods. Any grey areas are where no apartments exist.

The diverse distribution shown on this map underlines the unique character of Northampton’s housing market. 

Whether you are a landlord looking to invest in high-demand areas or a homeowner seeking the perfect balance between urban and suburban living, this map serves as a comprehensive guide to making informed decisions in Northampton.

 

How does the London Rental Market affect you?

The London rental market has a profound impact on national averages, significantly skewing perceptions of rental prices across the UK. 

Despite London having only 12.3% of the UK’s homes, it accounts for a staggering 32.1% of rental properties that have come to market in the last seven years. 

Looking at the stats.

The average UK rent is £1,753 pcm. 

However, the UK average rent excluding London, drops to £1,208 pcm.

If we were to look at London's average rent, it is £2,830 pcm, which is significantly higher than the rest of the UK. 

This discrepancy stems from both the size of the rental market in London and the higher rental prices, which disproportionately contribute to national figures. 

Understanding these dynamics is crucial for landlords looking at the property market data.

Understanding the Property Market: £/sq.ft Trends in the UK, East Midlands, and Northampton

 

The property market in the UK is a complex and multifaceted entity, characterised by a myriad of factors that influence property prices and values.

One of the critical metrics often underutilised to gauge the value of property is the price per square foot (£/sq.ft). This figure provides a standardised measure, enabling comparisons across different regions and localities.

In this article, we will delve into the £/sq.ft figures for the UK as a whole, the East Midlands region (and how that compares to other regions), the Northampton property market and why this £/sq.ft metric is particularly significant.

 

National Trends: The UK Perspective

Across the UK, property prices have seen significant fluctuations over the past three decades.

The £/sq.ft figure is a valuable alternative indicator of these house price changes (instead of the normal headline price). On average, the national £/sq.ft is a composite reflection of diverse property markets, from the bustling urban centres of London and Manchester to the serene rural areas of Scotland and Wales and takes into account other aspects of house values.

 

The average £/sq.ft on the UK homes sold

in Q2 2024 was £343/sq.ft

 

This is up from £328/sq.ft in Q1 2023, a rise of 4.61%.

This figure encapsulates the varying dynamics of the UK housing market, influenced by economic conditions, governmental policies, and demographic shifts. The highest £/sq.ft can be found in W1 (Mayfair, Marylebone, Fitzrovia, and Soho) up to the heady heights of £1,187/sq.ft. This is driven by high demand, overseas buyers and limited supply.

Conversely, rural northern areas exhibit lower figures, the lowest being in Shildon in County Durham (DL4) at £77/sq.ft, due to the local economy, geography, housing stock and differing lifestyle preferences.

 

Regional Focus: The East Midlands

Let’s look closer to home, in our region.

 

The average £/sq.ft on the East Midlands homes sold

in Q2 2024 was £269/sq.ft

 

This is up from £262/sq.ft in Q1 2023, a rise of 2.67%.

Our region has experienced steady growth in property prices, albeit at a more moderate pace compared to the national trend.

 

The East Midlands has seen significant investment in infrastructure and development projects, bolstering its property market prospects. Also, the region's strong transport links, including major motorways and rail connections, enhance its appeal.

Before we look at the Northampton numbers, let us compare all the regions for Q2 2024 (and their growth in £/sq.ft levels from Q1 2023).

 

·       North East £188 sq.ft - a growth of 6.82%

·       Scotland £213/sq.ft - a growth of 7.04%

·       Wales £244/sq.ft - a growth of 5.17%

·       Yorkshire and The Humber £247/sq.ft - a growth of 5.56%

·       North West £253/sq.ft - a growth of 6.30%

·       East Midlands £269/sq.ft - a growth of 2.67%

·       West Midlands £286/sq.ft - a growth of 4.00%

·       South West £357/sq.ft - a growth of 1.13%

·       East of England £393/sq.ft - a growth of 1.03%

·       South East £437/sq.ft - a growth of 1.39%

·       Outer London £549 sq.ft - a growth of 1.48%

·       Inner London £779/sq.ft - a growth of 3.04%

As you can see, the least expensive the region, the higher the growth in house prices (£/sq.ft).

 

Local Insight: Northampton's Perspective

Zooming in further, let's examine the £/sq.ft figure for Northampton (NN1 to NN7).

 

The average £/sq.ft on the Northampton homes sold

in Q2 2024 was £309/sq.ft

 

Up from £305/sq.ft in Q1 2023, a slight rise of 1.31%.

This figure reflects the town's unique blend of factors influencing property prices. The presence of reputable schools and a vibrant community plays a significant role and enhances its attractiveness to homeowners (and landlords alike).

The town offers a balance between urban amenities and a suburban lifestyle, appealing to families and individuals seeking a quieter yet well-connected environment.

The local economy, supported by a mix of industries, also contributes to the property market. Northampton's diverse employment base, coupled with ongoing development projects, fosters a stable demand for housing. Additionally, the town's cultural and recreational offerings, including leisure, shops, and entertainment venues, enhance its appeal to prospective buyers.

 

The Importance of £/sq.ft: A Deeper Look

The £/sq.ft figure is not just a statistic; it is a crucial indicator of the property market's health and trends. In a previous analysis, it was highlighted that this metric offers a more immediate reflection of the market compared to traditional indices such as the Land Registry or Nationwide House Price Index. These traditional indices lag six to nine months behind due to the time it takes to complete sales and register transactions.

The £/sq.ft measure allows for real-time tracking of property values, offering insights several months ahead of official reports.

For instance, if the £/sq.ft figures indicate an increase, it can be inferred that property prices are on an upward trend, even if official indices have not yet reflected this change. This real-time data is invaluable for buyers, sellers, and investors, enabling them to make informed decisions based on current market conditions rather than outdated information.

Therefore, by following the trend of £/sq.ft figures, we can see house price trends six to nine months ahead of official figures. This gives you the ability to judge the top, bottom and general trends of the property market, therefore giving you, the reader, an advantage into the Northampton property market.

 

Final Thoughts: The Interconnected Dynamics of the National, Regional and Local Northampton Property Markets

In summary, the £/sq.ft figures for the UK, the East Midlands, and Northampton illustrate the interconnected dynamics of the property market.

Understanding these £/sq.ft figures provides valuable insights for potential buyers, investors, and policymakers. It underscores the importance of considering both macro and micro factors when navigating the property market. As the market continues to evolve, staying informed about these metrics will be crucial for making well-informed decisions in the ever-changing landscape of UK property.

If you would like more information about the Northampton property market and where it sits both regionally and nationally, then please do follow us on social media, where we post lots of information which will help and guide you on your property journey in the town.

DISCOVERING NORTHAMPTON: PART 5

 

Understanding the average age of residents across different council wards in of Northampton and the surrounding areas, is both interesting and crucial for both current residents, landlords plus prospective tenants and homebuyers. 

This heat map, compiled using data from the Office for National Statistics and Denton House Property Research, provides a visual representation of the demographic distribution throughout our town and the surrounding areas.

For residents, this information can foster a deeper connection to their community by highlighting areas with similar age groups, potentially enhancing social cohesion and community engagement. Additionally, local Northampton businesses can tailor their services and products to meet the needs of predominant age groups, thereby enhancing customer satisfaction and business growth.

For prospective Northampton homebuyers, understanding the average age of residents can significantly influence their decision-making process. Families with young children might prefer neighbourhoods with other young families, creating opportunities for social interaction and community building. Conversely, retirees might seek areas with a higher concentration of similarly aged residents, ensuring a quieter and more relaxed environment.

As an estate and lettings agent in Northampton, leveraging this detailed demographic data enables us to offer tailored advice and guidance to our clients, ensuring they find the perfect neighbourhood that aligns with their lifestyle and preferences. This map is a valuable tool for anyone looking to make informed decisions about where to live in Northampton.

If you would like to chat about your property needs, whether you are buying or selling, don’t hesitate to call us on 01604 801 962

 

Good news for Northampton landlords and tenants

The latest data on rent growth since January 2020 highlights significant increases across the UK, providing a promising outlook for landlords, especially those in Northampton.

This growth in average rents is most pronounced in the South West, which has seen a remarkable rise of 45.2%. Close behind is the East Midlands with a 39.5% increase, and Yorkshire and the Humber with a 38.5% rise. The North East also shows a substantial growth of 37.3%, while Scotland’s rents have grown by 35.0%.

In Northern Ireland, there has been a 34.6% increase, whereas East Anglia’s rents have gone up by 28.9%. The North West and West Midlands have experienced rises of 28.4% and 29.2% respectively. London and the South East, despite being high-cost areas, have relatively moderate increases of 25.6% and 25.5%. Wales has seen the smallest growth in this period, at 22.1%.

For landlords in Northampton, this trend indicates a robust investment climate in the rental market. It’s important to note that these figures reflect the rents paid by new tenants. Existing tenancies have not seen such dramatic rises, as government data shows much lower increases for ongoing existing leases. 

This means that while landlords can capitalise on the current market conditions, it is crucial to consider the broader tenant base to maintain good relationships and avoid unnecessary friction.

For more information or to discuss your property needs, be you an existing/potential new landlord or tenant feel free to contact us at northampton@belvoir.co.uk