A landlord I know
has owned a few properties on Adelaide Road for the last fifteen years. She
came in to our office to discuss the rise and fall of property prices on the
street and how this has affected her yield over the years.
In 2000, when she
purchased her first property on Adelaide Road the average value of a house on
the street was £103,750 which had a sharp rise to £187,737 by 2003. This rise in value continued, with
average values being £211,000 in 2005 and £234,112 in 2006.
At the height of
the property boom in this area, a terraced house on Adelaide Road had an
average value of £256,650. This soon dropped in the recession of 2008 to £195,000,
with the average value increasing to around £267,500 this year.
When she told me of
the rents she had achieved on the street, they seem fairly stable over the
thirteen years. In 2002-2003 the average rent was £750 per month and is now
between £950 and £995, dependent on the property’s accommodation. Therefore, a
landlord could expect a respectable annual yield of around 4.5% on Adelaide
Road at the moment.
If you would like
some advice with your potential investment, please come and see us in our
offices.
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