A Landlord with a
nice little property portfolio came into our offices recently. He lives between Andover and Whitchurch and
has properties in both towns. He likes
these areas and wanted advice on which one was currently the best option.
Although they are
only a few miles apart they are quite different beasts. Andover is a good deal larger and there is
always debate as to whether Whitchurch is a town or a village but we won’t
start that debate here!
Looking at Andover
first the average property price is currently £258,870 while the average rent
is £843pcm. In Whitchurch the average
property price is a whooping £408,778 while the average rental value is an
equally eye watering £1296pcm. This
gives Andover an average annual yield of around 4% whereas in Whitchurch it
shows as being around 3.8% so not massively different but your investment
stands to be greater at the beginning.
It goes to show
that there isn’t a massive difference in return. However, you need to factor in that these are
only averages so the yields may fluctuate depending on the property, especially
in Whitchurch which is very popular with commuters and tenants who work in
Basingstoke. In our experience, they
will happily pay upwards of £900pcm for a two bed property which is not so
common in Andover.
So, as always, do
your homework, know your market, and take advice!
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