Month: June 2016

6th June 2016

3 Bedroom Terraced House, Southgate West, Crawley

Isn’t it amazing how much better & more inviting properties look when the sun comes out !

Take a look at this property, a 3 bedroom terraced house in Downland Drive, Southgate West, Crawley which is being marketed by Williams Harlow of Banstead, Surrey at £275000. Here’s the Rightmove link for a closer look http://www.rightmove.co.uk/property-for-sale/property-54035092.html

6-6-16 Downland Dr

From the marketing photos the property looks to be in good condition and, in addition, also has a garage.

So what about the rental yield ?

Market rents for 3 bedroom houses in the Southgate West area of Crawley are in the region of £1200pcm to £1300 pcm and possibly even higher. Based on these rents and a For Sale price of £275000, the potential gross rental yield would range from 5.2% to just under 5.7%. We think you’ll agree, these rental yields are really quite impressive.

Do remember that one of the key markets for a property like this are families. Families often come with children & children often come with pets ! So if you have an aversion (in the lettings sense) to either children or pets, it’s probably best not to consider a property like the one here. On the plus side, however, families do tend to stay longer as they put down roots in an area & children get established in the local schools. Void periods i.e. empty periods between tenancies, should therefore be lower.

If you’re looking to invest in property in or around Crawley, why not give us a call on 01293 515588 for a chat. We have a wealth of experience & knowledge in the lettings business and can provide you with free advice to make sure you get the most from your property investments. Alternatively , just 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.

 

6th June 2016

2 Bedroom Flat, Southgate, Crawley

Yield, Yield & more Yield !

In the last couple of articles we’ve posted details of flats with potentially high gross rental yields. Well, here’s another !

Astons Estate Agents are marketing a 2 bedroom flat for sale at Caburn Court, Southgate, Crawley, with offers in excess of £180000. Although the flats in this development are much older than the likes of those at Woodfield Lodge or Commonwealth Drive, don’t let the rather drab exterior put you off. If you’re looking for higher yields from your property investments, flats like these are certainly worth considering. Here’s the Rightmove link for a closer look. http://www.rightmove.co.uk/property-for-sale/property-59754086.html

2-6-16 Caburn Ct

Unfortunately there are no internal shots of the flat, which might possibly mean that it may need some work, such as redecoration. Speak to the agents if you’re interested and ask them to tell you about the internal condition. Similar properties to the one shown here are currently under offer at the £195000 mark and there is even one being marketed at £200000 – although it hasn’t yet sold. So potentially there may be scope in the asking price to provide a budget for renovation work if needed.

In good condition, these flats will let for between £850pcm & £925pcm. Based on the asking price of £180000, this would give a potential gross rental yield of between 5.7% to 6.2% – quite impressive, we think you’ll agree ! However, if you were to purchase the flat and then spent say £20k on renovations works (if needed) – new bathroom, new kitchen, new flooring and re-decoration –  your gross rental yield would still be in excess of 5%, but now range from 5.1% 5.6%.

Hence as a potential high yielding investment, the flat at Caburn Court might just tick all of the boxes !

If you’d like to know more about Crawley & surrounding towns from a property  investment perspective, give us a call on 01293 515588 and we’d be more than happy to talk to you about our favourite subject !  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.

 

1st June 2016 (already !)

Studio Flat, Pound Hill, Crawley

Here’s a very pleasant looking studio flat in the Maunsell Park development, situated on the Pound Hill / Three Bridges border in Crawley. The property is marketed by Estate Agents Move Revolution at a guide price of £160000.

One of the features of Maunsell Park is its proximity to Three Bridges mainline station. As I’m sure everyone knows, Three Bridges station is ideal for commuting to Gatwick, London, the South coast etc….. In other words, in our opinion the location of this flat is absolutely brilliant. Here’s the Rightmove link if you want to take a closer look. http://www.rightmove.co.uk/property-for-sale/property-42169128.html

1-6-16 Maunsell PkStudio apartments at Maunsell Park command rents in the region of £725pcm to £795pcm. As with all rental property, however, the better the condition, the higher the rent that can be charged & the quicker it will let – no mystery there !

With a For Sale guide price of £160000, rents of £725pcm to £795pcm would give impressive gross yields of between 5.4%  & nearly 6.0%. As a second property of course you might wish to factor in the Stamp Duty surcharge of 3%, which would add an additional £4800 on to your purchase costs. Nonetheless, the gross rental yields calculated are pretty high when you consider that the average in the UK as a whole are only about 5%.

If you’re looking for buy-to-let property in or around the Crawley area, why not give us a call on 01293 515588 for a chat. We have many years of experience in the lettings business and, what’s more, our advice is free ! Alternatively, you can also 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.