I was talking to
someone who lives in a detached house on Saxon Fields. He wants to purchase his
first Buy to Let property and has noticed our rental index and previous
articles, so was interested in getting to know the industry a little bit more.
As he has lived in
Saxon Fields for over 8 years and he felt comfortable investing in there as he
knew it well, we started to discuss the property market in this area.
Firstly,
we found that 113 semi-detached houses have sold in Saxon Fields since the year
1999. Property values in Andover have risen on average by around 22% over the
last 10 years, but most
semi-detached properties on Saxon Fields have beaten that rise all be it by
only a small amount of 1.5% at 23.5%.
When we look back
to 1999, a three bedroomed semi-detached property in Jutland Crescent, Saxon
Fields was bought for £90,000 and sold in 2015 for an impressive £234,950. With excellent capital growth you would
expect yields to be comparatively lower, but most three bedroomed properties on
the development can be picked up from around £230,000 and could have achievable
rents of £900 to £950 per month. This means annual yields can be around an
attractive 5% which coupled with the capital growth isn’t too bad!
If you would like
to talk to us about your potential investment, please come into our office on Bridge
Street.
No comments:
Post a Comment