Thursday, 27 October 2016

Warrington Property Market Outperforms Chester by 46%

Like most people these days, Mike (a landlord from Chester) took to Google and started to research neighbouring towns. He came across my blog, took my invitation up and gave me a call.

Mike explained his situation – he lives between Warrington and Chester, in Frodsham, and he currently has a few properties in Chester that he purchased just after the crash. Mike is now in the market to purchase a few more properties, however the prices of the properties he would usually look to buy to let have increased and it no longer financially stacks up.

After doing some research, Mike decided he was open to the idea of investing in Warrington. Mike isn’t really looking for capital growth; he is looking for high yielding properties. Articles I’ve written previously will tell you that Warrington has plenty of opportunities for high yielding properties.

The Numbers
As always, I like my figures. Even though I’m working on averages, it’s always good to see how each town stacks up. So I compared some numbers – the average property prices and then average yields. While these are averages, property deals can be found in both towns. You just have to keep your eye on the ball daily.

Looking at Chester, the average property price can be an impressive £179,950 and the average rent is equally high at £675 per month. In Warrington, an average property is £110,000 and a slightly lower average rent compared with Chester of £667 per month. The annual yield in Chester could be only 4.5% per year, compared with Warrington, where Mike could achieve an annual yield of nearer 7.2%.

It goes to show our town of Warrington can be a good area for an investment property, but it is a decision that shouldn't be taken lightly. Like I said before, these are only averages, so the yields for some small to medium sized properties in popular areas of Warrington can achieve yields of 7% to 10% per year.

We recently helped a landlord find a property for £65k in Warrington with a £5,000 refurbishment cost – a nice two up two down which is now fully tenanted with a monthly rental income of £525. This is a huge 9% yield.

We did this by checking what comes on the market daily and acting fast. So keep looking and if you would like a second opinion on any properties you see for sale online then feel free to email me the details and I will give you my honest opinion – good or bad, my email address will be at the bottom of this post.

If you are a landlord or thinking of becoming one for the first time and you want to read more articles like this about the Warrington Property Market, together with regular postings on what I consider the best buy to let deals in Warrington (out of the many of properties on the market, irrespective of which agent is selling it) then feel free to get in touch.

Email me on or call on 01925 235338. If you are in the area, feel free to pop into the office – we are based on 6 Bankside, Crosfield St, WA1 1UP. There is plenty of free parking and the kettle is always on.

Don't forget to visit the links below to view back dated deals and Warrington Property News.

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