In previous articles we have found that ex-council properties can achieve good annual yields for the area. Yet their average value tends to stay quite stable when we compare this to the average capital growth on the more modern estates of Saxon Fields and Burghclere Down, which have had a more significant rise.
Nevertheless, a two bedroomed mid terreaced property on Pilgrims Way sold for £127,500 in November 2014 and it was sold again in May this year for £160,500, which is a decent return in 6 months.
The best performing property for capital growth in 2015 so far was bought in March 2014 for £168,000 and has recently sold for £220,000. This is a significant return of 26.27%. However, this was not an ex-council property it was a Victorian terraced house on Leigh Road!
However, regular readers to our blog will know that, as long as you accept that you will not have the best capital growth on your property in the area, ex local authority properties may great buy to let investments and are always popular with tenants.
If you would like some advice about buying to let, please come and see us at our offices.