Time now for a quick round-up of what has been happening in the
sales & lettings market in the Warrington area throughout June 2015 to
date. (figures obtained from Rightmove and do not include private lets):
You can see from the rental figures above, that it is 2, 3 & 4 beds that are most in demand,
with 4 beds being the most popular by some margin. If you look at sales, it
seems 1, 2 & 3 beds are what people want to buy, this time it is 3 beds
that win the race.
So, as an
investment, what should you buy?
Well demand is there to rent anything up to 3 bedrooms, but
there are already a high number of potential private purchasers chasing those
same properties, so this will inevitably increase pressure on availability and
start to drive prices up, whereas 2 beds are in a lot less demand by
purchasers, yet these are often prized by renters. Our experience here tells us
that 2 beds will always find a rental market, they will always rent out quickly
but there will be more churn (turnover of tenants), and these will command a
slightly higher yield than 3 beds.
However, for families wishing to rent, 3
beds are a must, and in the catchment area of great schools (particularly
secondary) they will always be in high demand and with less churn, and it is
these properties that tend to offer better scope for capital growth in the long
term whilst providing a steady yield of around 6-8.3% yield today.
If you are thinking of getting into the property rental market and don't know where to start, speak to us for impartial advice and guidance to get the best return on your investment. For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01925 235 335 or pop along and speak to us in person at our office at 6 Bankside, Crosfield Street, you can always email me on manoj@hamletwarrington.co.uk
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