Bargains to be had in Lavant!

A landlord became ever more curious about the Lavant Buy-to-let market after reading our articles about various areas of Chichester, so decided to pop in and ask our advice.

I found that a modest three bedroom semi-detached property with a driveway on Springfield Drive was bought for £200,000 in 2000. The same property sold for £216,000 in February this year, which is a rise of 8%. However, prices in the village during this same time period rose by 14.3%, so it should have sold for £228,600 if it kept up with the village’s average house price.

A one bedroom first floor flat on Pook Lane sold for £207,500 in the spring of 2011, and was sold again this April for £198,000. This represents a small drop in price of around 4.5%, whereas average prices in this time have risen by a much more impressive 15.5% in the same postcode sector (PO18 0SA). .

With rents for apartments in Lavant achieving between £700-750 per month, gross yields are around 4.3%. I think in terms of a rental investment, there are better properties, such as smaller two or three bedroom semis, but for owner occupation there are some real bargains to be had.

To discuss the Lavant property market, or any other area around Chichester, please give me a call on 01243 887887.