3 Bedroom House, Foxglove Walk, Broadfield, Crawley
A lot of comment in the property press recently has concerned investors looking towards areas such as Manchester to purchase much higher yielding properties and off-set some of the effect of the recent tax hikes.
Somewhat closer to home, however, there are also relatively high yielding properties available in Crawley. One such property is a 3 bed terraced house in Foxglove Walk, Broadfield, Crawley that has recently been advertised by Estate Agents Zoom995. The property, which is on the market for offers in the region of £230000, is offered with no onward chain. Although Broadfield may not be regarded by some as one of the better parts of town, nonetheless rental yields can be relatively high here. To take a closer look at the property here’s the Rightmove link. http://www.rightmove.co.uk/property-for-sale/property-42153333.html
Please do bear in mind that properties like the one considered here are principally family homes. As such, a large proportion of prospective tenants will consist of couples with children & possibly even pets. If pets & children are not your thing then our advice would be to steer well clear ! With regard to pets, however, you can always ask for a higher deposit and specify that any damage is repaired/replaced on an new for old basis.
So what about the rental yield ?
Properties like this one in Broadfield, Crawley rent for between £1100 to £1250pcm. Obviously time of year and internal/external condition will be major factors in determining just how much rent can be achieved. However, based on an asking price of £230000 and the rents quoted above, gross rental yields will range from around 5.7% to 6.5%. These yields are pretty good and some of highest we’ve seen in Crawley. Don’t forget that you will also have to pay an extra 3% stamp duty surcharge if you already own a property. However, with average rental yields in the UK at around 5%, this property in Broadfield could offer an investor an above average return.
Whether you’re a seasoned property investor or considering the buy-to-let market for the first time, why not give us a call to discuss the opportunities that Crawley & surrounding towns have to offer. Our advice is free and what’s more…….we don’t bite ! Alternatively, you can always drop us an e-mail to crawley@northwooduk.com.
The opinions expressed in this article are those of the author only and not of Northwood. If you are considering investing in property, please make sure that you seek appropriate professional advice.
The Crawley Property Blog 