It has just come on to the market for £62,000 which feels like the right sort of money, considering the prices of some other similar properties on the market at the moment, it seems to me that the Vendor is looking to achieve a quick sale. This property would probably rent for £475 pcm, however the property needs about £8k spending on it so taking that into consideration, the property would generate you an annual yield of 8.14%.
Another interesting factor which I wanted to point out is the actual increase in capital growth. As we have spoken about many times, it is not always down to the biggest 'yield', the rise in value should also be taken into account. Some houses may not generate a high yield, but their capital growth potential is far greater. Property on the street sold for £90K - £93K going back 7 years ago.
This particular property boasts a good yield and potential capital growth
If you would like any advice on where to buy (or where not for that matter), feel free to drop me a line at tpatel@hamlethomesproperty.co.uk
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