Rents Remain Stable On Silvester Road, Waterlooville
A landlord I know has owned a few properties on Silvester Road for many year and he came across some old files the other day and that got us talking about the rise and fall of property prices on the street and how this has affected his yield over the years.
In 2009, when he purchased his first property on Silvester Road, the average value of a terraced house on the street was £209,862 which had a sharp rise to £261,000 by 2016. This rise in value continued, with the average value today being £305,000.
One particular property on the road was purchased in 2009 for £174,000, this property has recently been sold for £312,000. Thats a 79% increase in 8 years.
When he told me of the rents he’s achieved over the years, they seem fairly stable. In 2009/2010 the average rent was £850 per month and is now between £950 and £995, dependant on the property’s accommodation. Therefore, a landlord could expect an annual yield of around 4% on Silvester Road at the moment.
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