One Bedroom Flats In Waterlooville, Do They Make Good Buy To Let Investments?
There are over 3,863 flats in Waterlooville, this only represents around 9% of the housing stock here, with the national average being nearer 20%. The average price of flats with one or two bedrooms in Waterlooville is around £156,600, which is nearly 2% higher than 12 months ago.
You can buy a one bedroom flat on Crombie Close, for a very reasonable £95,000. If a landlord put down a £10,000 deposit and borrowed the rest, they could achieve around £600 per month in rent. Even after paying the service charge, yields could reach around 7.5% per year. However, you must remember that every landlord’s tax and interest rates are different, so it is essential to research your investment carefully before committing.
Finally, let’s not forget about the potential increase in capital value of the property. I was looking at the one bedroom flats in the Raeburn House development on Hulbert Road and found that they have sold for around £92,900 in 2013. This had almost increased by 30% in value over 5 years, to nearly £120,000. I also looked at Crombie Close and found they sold for around £63,750 in 2013, flats here have increased by nearly 50% in 5 years which is a great growth of around 10% per year.
If you would like some advice about what could make a good investment, please contact me.
0333 772 0718