Month: November 2015

4th November 2015

2 bedroom flat, Maidenbower, Crawley

Here’s a nice looking 2 bedroom flat in Maidenbower, Crawley on with De Vere at £215000. The property was reduced in price yesterday and was originally marketed from 9th October at £220000. From the internal photographs, the flat looks to be in very good condition. Here’s the Rightmove link if you want any further details http://www.rightmove.co.uk/property-for-sale/property-55264778.html

Lyon Cl 4-11-15The recent £5000 price drop might be for a host of reasons. For example, the sellers may now have found a property to buy and want to get “things moving forward” more quickly. On the other hand, they may have just tried “testing the market” at the higher price and have now come down to secure a buyer. Whatever the reason, however, the drop in price indicates that the sellers may well be flexible in future. To put the current asking price into context, similar nearby flats that have sold recently are 30 Lyon Close (£190000 May 2015) and 50 Dakin Close (£205500 May 2015).

As we’ve mentioned before, if you can move quickly on property purchases, you can often negotiate price reductions. So if you’re an investor and interested in this flat, do bear this in mind.

What about the rental yield ?

Properties like this one rent for about £950pcm to £975pcm. Based on an asking price of £215000, this would give you a yield of 5.3% to 5.4%. Of course, if you can negotiate a lower price, so much the better !

If you’re considering investing in property and would like some advice on what & where to buy in the Crawley area, we’d be more than happy to have a chat with you. Give us a call on 01293 515588 or drop us an e-mail to crawley@northwooduk.com.

1st November 2015

2 bedroom flat, Commonwealth Drive, Three Bridges, Crawley

We’ve featured a number of these flats on our blog recently. One reason for this is the location, which ticks a number of boxes and therefore makes them very popular for tenants.  For example, there is good access to Three Bridges main line station for those commuting to London, as well as good access to Crawley town centre, Manor Royal industrial estate and of course and Gatwick Airport.

Here’s a 2 bedroom flat at the Commonwealth Drive development on with Connells at £230000. There’s an open day on 7th November……..so give Connells a call if you’re interested. Here’s the Rightmove link for further details http://www.rightmove.co.uk/property-for-sale/property-37376022.html

CommonwealthDr 30-10-15You’ll have noticed that over the last few months the prices of these flats has started to creep up. However, so have the rents. Currently 2 bedroom flats in this development are commanding rents of around £1050pcm to £1100pcm. Based on a purchase price of £230000, this flat would give a gross yield of 5.4% to 5.7%.

If you’re interested in this property, please check to make sure that there is a lift close-by.  As it is located on the 4th floor, the lack of a lift would be a definite negative.

If you’re new to buy-to-let and would like some advice on what to buy and where to buy it, don’t hesitate to give a call on 01293 515588. We’d be more than happy to have a chat with you… and we don’t charge for a bit advice ! Alternatively, you can also e-mail us on 01293 515588.