The start of a New Year often leaves people looking for fresh challenges, and it might be that some people are keen to move home. This creates an opportunity for landlord, and you should consider this as a chance to connect with new tenants.
At Just Lets Peterborough, we are more than happy to assist you. We believe Peterborough is a good place to live, and if you need any help with the local lettings market, get in touch.
What does Peterborough have to offer?
There are many reasons why people like living in Peterborough, and as a landlord, knowing there is a good level of demand for rental property is appealing. Peterborough is recognised as an affordable place to live, and its position at the heart of the East of England means you can enjoy many other locations from here.
There is a great deal of development work taking place in Peterborough at the moment. In 2020, it was announced that £600m would be spent on developing the area, with the aim of transforming Peterborough into an area that delivers a “high quality residential and commercial property in the heart of the city, plus space for additional cultural and retail attractions and improvements to the public realm”.
This is a great time for landlords to set up in the area, because tenants are already looking for property.
If you would prefer to let to families, the heart of the city is an excellent place, because The Peterborough School is a well-regarded educational option. There are also many fantastic activities for youngsters to enjoy in this part of the city, which means families love living here.
If you would prefer to reach out to downsizing people and those looking to enjoy their golden years, Hampton in the south of Peterborough is a smart choice. The area is well connected to the heart of the city with public transport, so it is easy to get around, but there are enough reliable facilities and amenities on people’s doorstep to make living here easy.
Also, no matter where people live in Peterborough, there is plenty of countryside to enjoy, so there will always be an open space to enjoy.
How are house prices in Peterborough as we make our way into 2022?
According to Rightmove, at the start of 2022, house prices in Peterborough are as follows;
“Properties in Peterborough had an overall average price of £232,483 over the last year.
The majority of sales in Peterborough during the last year were detached properties, selling for an average price of £321,319. Semi-detached properties sold for an average of £209,055, with terraced properties fetching £172,768.
Overall, sold prices in Peterborough over the last year were 7% up on the previous year and 18% up on the 2018 peak of £197,689.”
What is the current rental market situation in Peterborough?
According to the home.co.uk site, at the start of 2022, a total of 345 properties were listed for rent in Peterborough, with 345 of these properties coming onto the market in the last 14 days. The average property rent in Peterborough stands at £791 per calendar month.
The majority of properties listed for rent in Peterborough are two-bedroom properties, with the average rent for two-bedroom properties standing at £775 per calendar month.
Just Lets – Here to Help
If you are a landlord in or around Peterborough, and you need assistance in managing your rental property, we can help. We know these are challenging times for landlords, but there is a demand for rental property. When you need guidance in the local market, contact Just Lets Peterborough today, and we will be happy to help you.
The team at Just Lets Peterborough continue to operate remotely to ensure we can continue to serve you and your tenants throughout this covid period and beyond. Please contact us through our usual channels – email us at peterborough@justlets.com or call us today on 01733 346255.
