24 October 2014

Bargains on Burghclere Down

A landlord became ever more curious about the Burghclere Down Buy to Let market after reading our newsletters about various areas of Andover, so decided to pop in and ask our advice.
I found that a fairly typical four bedroom semi-detached townhouse with a garage on Hibiscus Crescent was bought for £187,000 in 2012. The same property sold for £225,000 in June this year, which is a rise of 20%. Prices in the town during this same time period rose by an average of 10.8%, so it should have sold for £207,200 if it had followed the towns average house price trend.
A three bedroom detached house again on Hibiscus Crescent sold for £226,950 in the summer of 2006, and was sold this summer for £249.950. This is again a decent rise of 10%, but average prices in this time have risen by a much more remarkable 26% in the area.
With rents for detached houses on the estate could achieve between £900 and 1100 per month, yields are around 5%. I think in terms of a rental investment, there are better properties, such as smaller two or three bedroom semis, or even ex local authority properties, but for owner occupation there are some bargains.

Our passion lies firmly within the residential property market, so please feel free to talk to us at any point about our diverse area.

No comments:

Post a Comment