Should you be investing in Andover or Newbury? Both are fairly similar in size but Newbury has had an overhaul in recent years although this is reflected in property purchase prices.
The average property value in Andover is £339,000 and in Newbury is £449,800. Remember this is an average value and there are certainly cheaper properties in both towns! The average rents are slightly different in that in Andover its £850pcm whilst in Newbury its £950pcm. This gives Andover a yield of 3% and Newbury 2.5%. Again, bear in mind this will be significantly higher if you buy the right property. You should be able to achieve 5% plus in both towns with the right purchase.
The average property price in Andover has gone up by just over 7% in the last 12 months whereas in Newbury it as only risen by just over 1%.
Both towns are highly desirable for tenants but, certainly on paper, Andover would appear to be a safer bet at this current time.
For any advice on a good investment, please pop in and have a chat.