Thursday, 18 May 2017

Should you be buying your next investment property in Warrington?

About two years ago, I wrote an article comparing Warrington, Widnes and Runcorn’s property markets to see which town’s property market would give an investor the best return on their investment. If you remember reading that article, I looked at the average property prices and the average rents in each town.

Two years ago, the research showed that Warrington was the safest of the three towns showing a yield of 5.7%, compared with Widnes’ of 4.5% and Runcorn’s 5.1%.

I thought I would re-visit my old research and see what changes have happened over the last two years. Although I compared Warrington against Widnes and Runcorn, today I will just be looking at Warrington and Runcorn (two bedroom terraced houses in particular).

How do the two towns stack up?

I decided to look at two bedroom terraced houses is because this is the most popular rental property in Warrington –  this two up two down property investment strategy has been a strategy that has lasted the test of time. Providing you purchase at the right price and do your due diligence (or ask us to do it for you) you cannot go far wrong.

The average two bedroom terraced house in Runcorn comes in at £87,881 with an average rent of £501pcm, giving you a very strong yield of 6.8%.

Let’s take a look at Warrington. The average two bedroom terraced house In Warrington is £94,380 with an average rent of £560, giving us an even stronger yield of 7.1%.
It still goes to show, our town of Warrington is a good and safe place to invest in property. As always, this is a decision that you should not take lightly – both towns have their merits. These are only averages, so if you buy wisely and are in a position to move quickly, you could pick yourself up a property producing yields of 8%+ in either town.

As I always say, the trick is knowing WHAT and WHERE to buy – or even more important, what NOT to buy!

You can always keep an eye on my blog for any properties I feel will make a good buy to let opportunity, or if you are after a second opinion then email over the property details or pop into my office for a chat, or even find out how we can get the best out of your investment property.

Email me on manoj@hamletwarrington.co.uk 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.