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Northampton Buy-to-Let Guide

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    Everything You Need to Know About Northampton Buy-to-Let Property

    Northampton is a town in the East Midlands. It is the county town of Northamptonshire. Interestingly, it is one of the largest places in the UK that is not a city.

    The area boasts fantastic transport links to Birmingham and London. It is also close to several other big cities like Oxford, Milton Keynes and Leicester.

    However, Northampton also offers much cheaper housing prices than any of those cities.

    Today, we’ll be looking at those property prices. We’ll take a deep dive into the UK buy-to-let market and offer up-to-date rental statistics. The article will also break down the areas within Northampton and the surrounding villages.

    Read on for more information.

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      Buy-to-Let Property Prices in Northampton

      For those investing in real estate in the UK, securing a good-value property in the right area is typically one of the highest priorities.

      Northampton property prices are remarkably similar to the national average. According to the HM Land Registry UK House Price Index, this Northamptonshire town has an average property price of £289,824. The national average UK property value is £287,546. There is less than a 0.8% difference between those two figures.

      The same database indicates that property prices in Northampton are virtually the same in July 2023 as they were in 2022. However, the local property market has fluctuated during that period. For instance, property prices rose to £292,187 on average in November 2022 before falling back to where they are now.

      Rightmove states that the most popular rental properties for sale in Northampton are terraced houses. The property portal puts the average terraced house price at £240,535.

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      Northampton Aerial View

      Buy-to-Let Rental Market in Northampton

      The East Midlands has experienced good rental growth over the last year. The Homelet Rental Index puts that growth at 7.60%. However, this falls short of the UK’s overall 10.30% rental growth.

      However, Northampton’s statistics are slightly more promising. Home.co.uk puts the average Northampton rental cost at £1,330. The national average rental cost is £1,243 (according to the Homelet Rental Index).

      According to the Northampton Rental Market Summary on Home.co.uk, one-bedroom properties garner an average rent of £794 PCM. Meanwhile, five-bed homes are the most expensive property type, costing tenants £2,698 PCM on average. In addition, the same database states that the largest percentage of properties will earn a rental income of £1,000 to £2,000 PCM.

      The average UK rental yield is 5.19%. However, Northampton’s average rental yield is 5.5%.

      While Northampton’s average rental yield is decent, you can find a better investment opportunity if you look elsewhere. More on that later.

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      Buy-to-Let Investment in Northampton: Area Breakdown

      In this part of our guide, we’ll take you through the different parts of the Northampton area.

      All property prices are taken from Rightmove. Rental yields are worked out from figures found on housesforsaletorent.co.uk.

      Central Northampton

      If you are considering a property investment in central Northampton, you can find new build properties along the River Nene and numerous apartment developments dotted around the town centre.

      This part of town appeals to University of Northampton students as the campus is located nearby. In addition, Northampton General Hospital is a big employer in the area, creating some property demand for NHS workers.

      Average Property Prices in Central Northampton

      Average property prices in the NN1 postcode are £221,851.

      Average Rental Yields in Central Northampton

      Yields in NN1 are 4.8% on average.

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        North Northampton

        North Northampton areas include:

        • Kingsthorpe
        • Boughton
        • Semilong
        • Queens Park

        These districts offer easy access to the town centre and places like Moulton Park in the East and Lodge Farm Industrial Estate – two significant employers in the area.

        Average Property Prices in North Northampton

        Average property prices in NN2 are £274,199.

        Average Rental Yields in North Northampton

        Investors can expect yields of around 4.2% in this area.

        Foreign Investment in the UK 2023/24

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        Off-Plan vs Completed Property

        The ultimate guide to help you choose whether to invest in off plan or completed property in 2024.

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        Northampton river view

        East Northampton

        Districts in this part of Northampton include:

        • Weston Favell
        • Abington
        • Spinney Hill
        • Billing
        • Great Billing
        • Little Billing
        • Boothville
        • Moulton

        Commuters have good access to the A43 and A45 roads from these areas. They are well situated for employees at Moulton Park and it is easy to get to towns like Wellingborough and Kettering. Weston Favell boasts a shopping centre. Investors can find excellent value properties in this eastern part of town.

        Average Property Prices in East Northampton

        Average property prices in NN3 are £297,326.

        Average Rental Yields in East Northampton

        Yields in NN3 are around 4%.

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          South and West Northampton

          South and West Northampton include some of the most sought-after residential areas in the town. Many newly built residential estates and business parks (such as the Brackmills Industrial Estate) are in this part of town. In addition, this side of Northampton offers good access to the M1 If you need to get to Milton Keynes, Daventry or London

          Districts in these parts of town include:

          • Delapre
          • Far Cotton
          • Wootton
          • Hardinstone
          • Dallington
          • Duston
          • New Duston
          • Hunsbury
          • West Hunsbury
          • Upton
          • Hopping Hill

          Average Property Prices in South and West Northampton

          Property prices in NN4 are £335,592. This makes South Northampton one of the most expensive parts of the town.

          NN5 property prices are £274,468 on average.

          Average Rental Yields in South and West Northampton

          Rental properties in NN4 will offer yields of around 3.6%.

          NN5 offers yields of 5.8%, some of the best in the area.

          Question-mark-why-how-what

          Why You Should Consider a Buy-to-Let Investment in Northampton

          There are a few reasons why you may want to invest in Northampton.

          Regeneration

          Northampton’s local council has big plans to breathe life into Northampton town centre. Local regeneration places include improving streets and roads, bringing offices and disused shops back into working order and introducing leisure and cultural amenities throughout the town.

          Northampton’s Waterside Enterprise Zone is responsible for bringing more than 60 businesses into the area over the last decade. This has created 1,500 new jobs, attracting people into the city for work.

          As the NWEZ continues to cultivate business opportunities, buyers can provide accommodation for employees coming into the area for the first time.

          Student Property Potential

          The University of Northampton was created in 2005 from several local colleges. The university has a Waterside campus in the NWEZ. Over 14,000 students live in Northampton.

          Popular student accommodation locations include:

          • Kingsthorpe
          • Mounts
          • Semilong
          • Abington
          • Kingsley

          Foreign Investment in the UK 2023/24

          Based overseas? This is the perfect guide for property investors looking to buy property in the UK.

          Download Guide

          Off-Plan vs Completed Property

          The ultimate guide to help you choose whether to invest in off plan or completed property in 2024.

          Download Guide

          Northampton New-Builds

          Newly built properties are steadily gaining popularity as a top investment choice amid the current supply/demand imbalance within the UK housing sector.

          These developments demand minimal upkeep or repair, offering properties that are essentially move-in ready for tenants at any given moment. Such convenience not only ensures a hassle-free experience for occupants but also guarantees a faster turnaround for landlords to start earning rental rentals.

          There are various ongoing new housing schemes in the Northampton area. For example, Upton Place is a recent development designed to attract first-time buyers, couples, and growing families. Offering a range of two, three, four, and five-bedroom homes, all situated just three miles from Northampton’s town centre and within an hour’s train journey from London, the developers anticipate it will help alleviate the housing shortage and stimulate the local rental market.

          With this growing market trend in mind, choosing new-build properties could prove advantageous for investors in the years ahead.

          While Northampton presents various new-build investment opportunities, larger urban cities like Liverpool and Manchester may offer broader investment prospects and potentially higher capital appreciation.

          Further Reading: Discover more with our recent buy-to-let guides, covering everything from new-builds in Winchester to the latest UK hotspots!

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            Off plan

            Off-Plan Property in Northampton

            New-build properties typically attract significant attention but often have a costly price tag compared to older residential developments. One route to accessing newly constructed properties at a more affordable cost is through off-plan property investment.

            This approach involves purchasing a property at an early stage of development, often before construction begins, enabling investors to secure it at a discounted rate relative to standard market prices.

            Investing in off-plan properties presents the potential for substantial capital growth upon completion. Typically, as a property nears completion, its value tends to increase. Moreover, in sought-after locations, there is often robust tenant demand, potentially resulting in higher rental yields over time.

            The most promising off-plan investments are typically found in areas with established infrastructure and emerging rental markets. Areas undergoing regeneration often represent greater potential for future new-build developments and capital appreciation.

            While there may be some opportunity for off-plan investment in the Northampton rental market, investors might discover greater profitability and capital appreciation by focusing on UK cities with a higher concentration of forthcoming new developments.

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              How Does Northampton Compare to Other UK Regions When It Comes to Buy-to-Let?

              So, is Northampton one of the best areas for buy-to-let?

              While Northampton is cheaper than a lot of cities around it, investors may want to look towards the north of England to find the best investment opportunities.

              For example,  the typical average house price for property investments for sale in Liverpool is £177,628. This makes them 48% cheaper than Northampton. In addition, Liverpool’s rental yield is also superior at 7.70%.

              Furthermore, the East Midlands capital growth may be healthy, but the North West offers one of the best capital growth predictions in the UK. That region is predicted to enjoy 20.2% capital growth by 2028.

              So, if you want to invest in property, we recommend venturing further north for better prices, yields and projections.

              Delve deeper into the buy-to-let market with our guide to buy-to-let property in Warrington.

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                Want to Invest in Northampton?

                Whether you want to invest in Northampton, Liverpool or somewhere else, it could be worth contacting a property investment company to help you get the most out of your investment.

                Finding the best area to invest in can be exceedingly difficult with so many factors to consider. If you want to find out more about various UK buy-to-let hotspots, check out some of our latest guides:

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                Author

                Dale Barham

                Dale is a property content writer at RWinvest. Keeping a close eye on the UK property market, Dale helps our readers stay informed and up to date on the latest market news and statistics.

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