£2.28 Billion – Total Value of Stamford’s Property Market

“How much would it cost to buy all of the properties in Stamford”?  This fascinating question was posed by an 11-year-old son of one of my Stamford landlords when they both popped into our new office on Red Lion Street last week.

Well, just for a bit of fun, I thought I would work out how much values have risen in value since his son was born back in the autumn of 2005.

In the last 11 years, since the autumn of 2005, the total value of Stamford property has increased by 34% or £579.5 million to a total of £2.28 billion.  Truly thought-provoking when you consider the FTSE100 has only risen by 30.78% and inflation (i.e. the UK Retail Price Index) rose by 37% during the same 11 years.

When I delved deeper into the numbers, the average price currently being paid by Stamford households stands at £264,044.… but you know me, I wasn’t going to stop there, so I split the property market down into individual property types in Stamford:

 

Stamford Property Market
Average Value of a Detached Property	Average Value of a Semi-Detached Property	Average Value of a Terraced/Town House Property	Average Value of an Apartment
£390,778	£205,772	£278,272	£115,200

 

It got even more fascinating when I multiplied the total number of each type of property by the average value.  Even though detached houses are so expensive, when you compare them with the cheaper terraced/town houses, you can see detached properties don’t actually fare any better in terms of total pound note value of the terraced/town houses and apartments.

 

     

So, what does this all mean for Stamford and Rutland? 

 

Even though property values are already declining in certain parts of the central London property market, the outlook in our region remains relatively good, as over the last 5 years the local property market was a lot more sensible than central London’s.

Local house values will remain resilient for several reasons. Firstly, demand for rental property remains strong with continued immigration and population growth. Secondly, with 0.25 per cent interest rates, borrowing has never been so cheap and finally, the simple lack of new house building lagging behind current demand, let alone eating into years and years of under investment means only one thing – there may be uncertainty over the next 12 to 24 months but, in the medium term, property ownership and property investment has always, and will always, ride out the storm.

My colleague Adrian and I understand the ever changing Rutland and Stamford property market.  We work hard to keep abreast of which type of property is in demand, we know which location is most sought after - and by whom, and we know what makes a sound investment. 

If you would like a FREE SALES OR RENTAL VALUATION of a property you already own, please get in touch.  We are here to help you.


David Crooke
david@upp-property.co.uk

Owner

 

Understanding People & Property

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