Previously I have written about the differences in the rent that could be achieved from properties in the villages around Andover, compared to the town itself. However, I didn’t mention the average values in both and how that affected their annual returns / yields.
The average terraced house in Andover is worth £212,216, whilst terraced houses in the surrounding villages are worth an average of £272,312, just over 28% higher. The same was found for the value of an average semi-detached house worth £266,733 in the town with the value increasing by just under 20% in the villages to £319,750. For a detached house in the town, you can pay approximately £385,452. This value is increased by just over 61% in the surrounding villages, with average values of £622,298.
If you are considering buying a buy to let property, before you buy in Andover or any SP11 village, you should consider the possible annual returns / yields. In the villages, the yield for a terraced property are quite low at around 4%, compared to around 5% in town.
So if you would like any advice when choosing a property, please pop in and see us.