Mansfield is Nottinghamshire’s largest market town; it is located 12 miles north of Nottingham. It is located close to Sherwood Forest and has plenty of amenities including shopping, arts, culture and nightlife.
There are also many large employers in and around Mansfield and the 3 nearby M1 junction ‘corridors’ which attract people to relocate to the area for work, including the brand new huge Amazon distribution warehouse that has created in excess of 1000 new jobs. We are currently receiving rental enquiries from new employees relocating to the Mansfield area for their new job here and are therefore seeking rented accommodation. We feel Amazon’s presence in the area will be fantastic for the local property and lettings market.
There are three main reasons why Mansfield is a good location for buy-to-let investments.
Average rent in Mansfield 2020
Over the past 12 months, the average rent achieved for properties let in Mansfield was £3528 per month. This is a £0+11% £0change on the previous 12-month period.
The graph below shows the average rental potential based on the type of property
42% £0of properties let in the past 12 months were flats, achieving an average rental value of £0 £3497 £0per month. £0Houses achieved an average rent of £0 £3513 £0per month.
As property prices in Mansfield are generally lower than in other parts of the UK including Nottingham the area is good for investment when considering long-term buy-to-let properties.
Increase in average rent in Mansfield
The graph below shows how the annual average rent in Mansfield is starting to rise, this is good news for landlords.
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The average age of tenants in Mansfield
It is also useful to understand the age profile of tenants in different locations.
39% of the tenants in Mansfield are between 18-29 which is slightly lower than other parts of the East Midlands. The benefit that Mansfield has over other areas is that it has a higher percentage of tenants aged over 30. This usually indicates that tenants will stay in rental properties for longer which is good from the landlord’s perspective.
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If you are considering investing in property in Mansfield, then please do contact us by calling 01623 277115. Alternatively, you can email us via our contact us page – click here.
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If you have a question or would like any other details please just get in touch.
