25 March 2015

Rents remain stable in Heather Drive

A landlord I know has owned a few properties on Heather Drive for the last five years. She came in to our office to discuss the rise and fall of property prices on the street and how this has affected her yield over the years.
In 2010, when she purchased her first property on Heather Drive, the average value of a flat on the street was £114,000 which had a sharp fall to £106,000 by 2011. The prices stabilised in value during 2012, with average values being £111,300 in 2013 and an impressive rise to £122,000 in 2014.
When she told me of the rents she had achieved on the street, they seem fairly stable over the five years. In 2010-2011 the average rent was £625 per month and is now averaging £645 per month. Therefore, a landlord could expect a respectable annual yield of around 6.3% on Heather Drive at the moment.

In our experience the flats in Woodpeckers fetch slightly more in rent than Bishops Court but both are equally popular with tenants due to their close proximity to both the train station and town centre and always rent well.
Comment below if you have any further questions about potential investments of any other property questions. 

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