Thank you for visiting the Chichester Property Blog. I hope that
you will enjoy reading the posts over the coming weeks and months and pick up
some useful hints and tips along the way.
Property purchase prices in the City of Chichester and surrounding hamlets have always been considerably higher than the national average. Currently your average three bedroom semi costs almost £50,000 more than elsewhere in the UK. Bad news for Buy-To-Let landlords? Far from it!
These largely unobtainable property prices, coupled with recent changes to mortgage application criteria, have meant that more and more good-quality working people/families are deciding to opt for rental accommodation...."Generation Rent".
I spoke to a landlord of ours on Saturday who had a property that she purchased in the height of the property market in 2006, and sold in the depths of recession in 2008. This lady sold her property for £13,400 more than what she paid for it. This sale released enough equity to put towards her next buy-to-let property, which is currently rented to students at nearby Chichester University, achieving a gross annual yield of 7.8%.
This consistent year-on-year capital growth, healthy annual yields, along with an ever-increasing quality of tenant make Chichester a property investors dream.
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