Becoming ever more curious about the Warrington Buy to Let market (Great Sankey in particular) after reading our articles about various areas of Warrington, a landlord decided to pop in and ask our advice.
I found that a small 3 bedroom town house on Payne
Close was bought for £43,500 in 2002. The same property sold for £120,000 in
March this year, which is a rise of 175%. However, prices in the town during this
same time period have roughly doubled so it should have sold for £87,470 if it
kept up with the town’s average house price.
A four bedroom detached house on Wharfedale Close sold
for £76,000 in the summer of 1996, and was sold again this March for £235,000.
This is a rather impressive rise of 209%, but as we mentioned in the Warrington
property blog a few weeks ago, average prices in this time have risen by 103% in Warrington.
With rents for detached houses in the area achieving
between £800 and £900 per month, yields are around 5-6%. I think in terms of a
rental investment, there are better properties, such as smaller two or three
bedroom semis, but for owner occupation there are some bargains.
Our passion lies firmly within investments properties
in the Warrington property market, so please feel free to talk to us at any
point about our diverse area.
As always, if you are an investor in the Warrington
property market and would like a second opinion on a property you have seen,
then send the URL of the properties you have seen online over to me. Or if you
would like to pop in and have a chat, then you can either email me
on manoj@hamletwarrington.co.uk or call on 01925 235 338. Our
address is 6 Bankside, Crosfield
Street (opposite Iceland and Aldi – so plenty of parking available). The
kettle is always on and we will even pull out the posh biscuits!
Don't forget to visit the links below to view back
dated deals and Warrington Property News.
Twitter, https://twitter.com/HHWarrington
No comments:
Post a Comment