Do Semi-Detached Properties On Crystal Way Make Good Investments For Buy to Let?
Updated: Nov 11, 2018
I was talking to someone who lives in a semi detached house in Crystal Way. He wants to purchase his first Buy to Let property and has noticed our previous articles, so was interested in getting to know the industry a little bit more.
As he has lived on Crystal Way for over 8 years and he felt comfortable investing there as he knew it well, we started to discuss the property market in this area. Firstly, we found that 5 semi-detached, 5 terraced and 2 detached houses have sold in Crystal Way since the year 2010.
Property values in Waterlooville have risen on average by around 225% over the last 20 years, but most semi-detached properties on Crystal Way have beaten that rise.
When we look back to 1996, a two bedroomed terraced property in Crystal Way was bought for £52,000 and was last sold in 2013 for an impressive £165,000, in todays market the same property would go on the market anywhere between £210,000 and £195,000 depending upon condition. With excellent capital growth you would expect yields to be comparatively lower, but most two bedroomed properties on the development can be picked up from £190,000 to £210,000 and could have achievable rents of around £750 per month. This means annual yields can be around an attractive 4.3%!
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