Regular readers will know how I am always promoting ex council properties as being great buy to let investments. You need to accept that generally their average value stays quite stable compared to the average capital growth of some of the more modern developments like Augusta Park and Picket Twenty.
Nevertheless, a two bedroom mid terraced property in Cricketers Way sold for £149,400 in November 2014 and then sold again in November 2016 for £186,500 which is a growth of around 25% over the 3 years. Another good example of capital growth from an ex council property is a 4 bedroom mid terraced property in Pilgrims Way which sold for £153,000 in July 2015 following an increase in value of around 38% in just over 3 years. Obviously we don’t know if these properties underwent any refurbishment work but still, they would have made a healthy investment all round.
The best performing property for capital growth recently was bought in September 2014 for £180,000 and was then re-sold in September 2016 for an impressive £280,000. This is a massive return of over 50%! This was a property probably built around the 1950’2 which did require some refurbishment.
For any advice on buy to let investments, or the current state of the sales market, pop into our offices.