Petersfield Property Market Vs Waterlooville
We have been speaking to a property owner in Petersfield recently and he’s been wondering how his hometown of Petersfield compares to Waterlooville, so we have delved in a little deeper. The overall population in Waterlooville is 64,350 whereas in Petersfield the population is 14,974 meaning there is not the need for as many houses in Petersfield as Waterlooville needs.
Lets get right into those facts and figures, the average rent for a property in Petersfield is £1048 which is £133 dearer than the average cost for a rental property in Waterlooville. The average time a property is available online as “To Rent” within Petersfield is 265 days where as Waterlooville it’s almost a third less at 193 days. The rents maybe lower in Waterlooville but with the possibility of a bigger void period in Petersfield, leaving you receiving no rent upon the property.
The properties that take the longest to rent within Waterlooville and Petersfield are properties that are valued between £250 -£500 per calendar month, these will more than likely be studio flats, or rooms within a shared house.
When we look at the the sales market we have found both areas have had a good growth of over 15% in the last 5 years. Back in 2014 the average price for a property in Petersfield was £423,518, this has increased by 17.17% to the current average value for a property now at £496,254. Comparing this to Waterlooville, property prices have increased by 20.33% in 5 years from £263,216 to £316,726 on average for a property.
So to conclude the average yield for a rental property in Petersfield is on average 2.53% whereas in Waterlooville the average is 3.47%. The achievable rents in Petersfield is higher than Waterlooville but the average time to rent a property in Petersfield is longer than in Waterlooville.
If you have any property related questions please don’t hesitate to contact us.