I was talking to
someone who lives in a detached house on Broyle Road. He wants to purchase his
first Buy to Let property and has noticed our rental index and previous
articles, so was interested in getting to know the industry a little bit more.
As he has lived in Broyle
Road for over 13 years, he felt comfortable investing in there as he knew it
well, so we started to discuss the property market in this area. Firstly, we
found that 20 semi-detached houses have sold in the Broyle Road since the year
1999.
Property values in
Chichester have risen on average by around 140% over the last 15 years, but
most semi-detached properties on the Broyle Road have beaten that rise.
When we look back
to 2000, a six bedroomed semi-detached property in the Broyle Road was bought
for £175,500 and sold in 2006 for an impressive £470,000. With excellent
capital growth you would expect yields to be comparatively lower, but some four
bedroomed properties on the street can be picked up from £400,000 to £420,000
and could have achievable rents of £2500 to £3000 per month. This means annual
yields can reach a very attractive 9%!
If you would like
to talk to us about your potential investment, please come into our office on Southgate or give me a call on 01243 887887.
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