Tag: target market

11th February 2016

I’m

1 Bedroom Maisonette, Bewbush, Crawley

King & Chasemore estate agents are advertising this 1 bedroom maisonette in Waterfield Gardens, Bewbush, Crawley at Offers Over £160000. The pictures look very good indeed and the agent says that the property has been well looked after. The main picture they’ve used is one of the lounge/diner and it does look very inviting !

Here’s the Rightmove link for further details http://www.rightmove.co.uk/property-for-sale/property-39865725.html

Waterfield Gdns 11-2-16

The accommodation appears to be of a good size and properties like this can achieve between £700 pcm to £750 pcm in rent. Based on these rents, the rental yield ranges from around 5.3% to 5.6%, so very respectable indeed.

In terms of purchasing, as an investor you would probably be competing against first time buyers & people downsizing. For rental purposes, however, your target markets are more likely to be young or older couples (without children) & possibly singletons.

If you’re looking to invest in rental property and would like some advice about what to buy and perhaps more importantly, what NOT to buy, give us a call on 01293 515588. Our advice is free and we’d love to hear from you. You can also e-mail us on crawley@northwooduk.com.

 

 

 

 

8th February 2016

2 Bedroom Maisonette, Langley Green, Crawley

Choices estate agents have just put this 2 bedroom maisonette on the market today, with a guide price of £210000 to £220000. From the few internal photographs, the property looks to be in good order. Here’s the Rightmove link for further details http://www.rightmove.co.uk/property-for-sale/property-52959433.html

Langley Dr Maisonette 8-2-16

One of the advantages these types of properties have over their more modern counterparts, is that the accommodation tends to be larger in size. For this particular property another plus point is that it has its own private garden. However, if you’re interested, please check whether or not the garden is attached/detached to the property. As the name suggests, with a detached garden you have to go out of your front door to gain access to the garden. This arrangement is clearly less desirable, particularly for people with children, than  the “attached” type. A quick call to the agents will clarify the matter.

From an investment point of view, the target market for this type of property would probably be a young family or alternatively, an older couple. The key for us, however, will be the garden location.

All things being equal, does the price stack up in terms of rental yield ?

Properties like the one we’re considering here currently let from between £950pcm to £975pcm. So based on the guide price, we can easily calculate the best and worst case rental yields. These come out at around 5.2% to 5.6%. So pretty healthy all round.

If you’re considering property investment in or around Crawley, it is crucial to identify the different target markets that your property will appeal to. If you’d like any advice on which type of property suits which type of tenants, why not give us a call on 01293 515588. We’d be more than happy to give you some free advice. Alternatively, you can drop us an e-mail to crawley@northwooduk.com.