26 June 2017

One bedroom flats in Andover, are they good investments?

One and two bedroom flats are always popular investments and are equally popular with tenants so we had a more in depth look at flats in Andover
There are over 2,500 flats within the SP10 post code.  This represents 14.09% of the housing stock here, with the national average being around 17.80%.  The average price of flats with one or two bedrooms in Andover is around £156,803 which is up some 2.7% on 12 months ago.
You can buy a spacious ex local authority one bedroom flat for around £110,000.  This would rent at around £625pcm giving the investor a very healthy return of around 6.8%.  Don’t forget to factor in though your management fees.  Also remember to check on the length of the lease before committing.
Finally, let’s not forget about the potential increase in capital value of the property.  I checked on two bedroom flats in Heather Drive (Bishops Court and Woodpeckers) and found that they have sold for around £122,000 10 years ago with the current average sale achieving around £156,000, so a healthy increase of over 18%.

If you would like some advice about what could make a good investment, please visit our offices .