Rents remain stable on Hazleton Way, Waterlooville
A landlord I know has owned a few properties on Hazleton Way for the last nine years. We were discussing the rise and fall of property prices on the street and how this has affected her yield over the years.
In 2009, when she purchased her first property on Hazleton Way, the average value of a detached house on the street was £200,000 which had a sharp rise to £281,500 by 2011. This rise in value continued, with average values being £315,000 in 2016.
At the height of the property boom in this area, a detached house on Hazleton Way had an average value of £270,000. This soon dropped in 2012 to £243,000, with the average value increasing to around £260,000 this year.
When she told me of the rents she had achieved on the street, they seem fairly stable over the nine years. In 2009-2010 the average rent was £925 per month and is now between £1,100 - £1,200, dependant on the property’s accommodation. Therefore, a landlord could expect a respectable annual yield of around 5.5% on Hazleton Way at the moment.
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