Looking at the newspapers between Christmas and New Year, it seemed that this year’s sport in the column inches was to predict the future of the British housing market. So to go along with that these are my thoughts on the Baldock property market. With the average 5-year fixed rate mortgage at 1.98% (down from 3.47% in 2014) and 2-year fixed rate at 1.47% (down from 2.37% in 2014), mortgage interest rates offered by lenders are at an all-time low (even with the slight increase on the Bank of England base rate a few months ago). Added to this, there has been a low unemployment rate of 3.7% in Baldock, which has contributed to maintain a decent level demand for property in Baldock in 2017 (interestingly – an impressive 392 Baldock properties were sold in last 12 months), whilst finally, the number of properties for sale in the town has remained limited, thus providing support for Baldock house prices, meaning
Talk to many Baldock 20 something’s, where home ownership has looked but a vague dream, many of them have been vexatious towards the Baby Boomer generation and their pushover ‘easy go lucky’ walk through life; jealous of their free university education with grants, their eye watering property windfalls, their golden final salary pensions and their free bus passes. If you had bought a property in Baldock for say £22,000 in first quarter of 1977, today it would be worth £418,330, a windfall increase of 1801.5%. To blame the 60 and 70 year olds of Baldock for that sort of rise seems a little unfair, with the value of the homes rising like rocket, I do not believe they can be censured or made liable for that. A few weeks ago, I discussed in my blog the number of people in the Baldock area who have two or more spare bedrooms (meaning they are under-occupying the house). I see many
In a popular residential location with off road parking, this property is being marketed by Country Properties in Baldock and is offered for £120,000. With an anticipated rental income of around £495 pcm (Yield of 4.9%) and annual maintenance charges of only £600 this is a property for investors to consider. We have recently let a similar property for £495pcm. Take a look at Country Properties advert here and give them a call ASAP before its sold!