Letting North East – Should I Invest?
– The popularity of a property is always increased if it is near a pub, public transport link, primary school, parish and post office – the 5 P’s! – Do your research on an area – social media is a great place to find out what is going on in a local community. Join community group pages and ask questions – check out local amenities, OFSTED reports, crime statistics, places to eat and sites of historical or cultural interest. – With bank interest rates still so low, now could be the time to move your money into the ever-increasing rental market. Whilst London still has the highest capital growth for property, rental yield is always significantly higher in the north east. London will always attract the highest monthly rent but you have the added drawback of the cost to invest in the first place. This means that despite sky-high rent your average yield could be as low as 4%. In the north east you can expect to see a yield of 6% or more. – Buying a property within a town centre is likely to be more expensive than investing within a reasonable commutable distance. Look at villages on the outskirts of a town – you are also likely to get more house for your money – gardens, garages etc. – Call Hive Residential for a chat about your investment – we always have a database of clients looking to let and may already have your perfect tenant lined up!
Posted by Victoria Valentine, Tuesday 22nd March 2016