Do Semi-Detached Properties on the Wellington Park Estate Make Good Investments For Buy To Let?
Updated: Jun 18, 2018
I was talking to someone who lives in a detached house on the Wellington Park estate. 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 the Wellington Park estate since it was built he felt comfortable investing there as he knows it well, we started to discuss the property market in this area. Firstly, what shocked us was there was only one 4 bedroom house for sale within the entire estate (correct at the time of writing) and that 60 semi-detached houses have sold in the Wellington Park estate.
A 3 bedroom semi-detached property within Darnel Crescent was first sold back in 2011 for £233,000, the same property was recently resold at an increased price of £274,000 that’s a 15% increase in 6 years. Most three bedroom semi-detached houses within the Wellington Park estate rent for £1200-£1250 meaning a yield of 5.5%. A four bedroom Semi-detached house is around £425,000 to purchase with an achievable rent of £1400 per calendar month giving you a yield of 4%.
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