Buy-To-Let in Graylingwell Park

I was talking to someone yesterday who lives in one of the 'Eco' town houses in Graylingwell Park. He wants to purchase his first Buy-to-Let property and has noticed that we were actively looking for properties in the development, so was interested in getting to know the market a little bit more.

As he had bought his property from new, and lived in Graylingwell Park for nearly 4 years, he felt comfortable investing there as he knew it well. We started to discuss the property market in this area and found that 22 houses have sold in the Lloyd Road alone since 2009.

Property values in Chichester have risen on average by around 8.75% over the last 3 years, but most properties in Graylingwell Park have beaten that rise. For example, a three bedroom terraced property on Lloyd Road rose from £275,000 in 2011 to £314,500 in 2014.

One bedroom apartments are available for purchase on the next phase of the development, priced at circa £165,000. When it comes to letting, new build properties always attract a lot of interest, and the one bedroom apartments in Graylingwell comfortably rent at £750-£795pcm.

This would attract a gross annual yield of around 5.7%. If you combine this with the current year-on-year capital growth this development could soon become an attractive Buy-to-Let hot-spot!