I have a few passions in life. Talking about the Bournemouth property market is certainly one of them. But I also like spending time down the beach during the summer. The sun shining bright, a light cooling breeze, the smell of fish and chips in the air. The greatest of all though, the child busying himself with his bucket and spade. And yes, there is a reason I’m talking buckets…
Did you know, that coastal towns demand some of the highest yields in the country? In fact according to a survey by HSBC, Bournemouth ranks the 2nd highest yielding seaside town. It’s not all short term holiday lets either, with the majority of rented properties being taken for long term lifestyle reasons. What better place to live, and invest.
Bournemouth also demands the highest rental in Dorset, on average £1139 per calendar month. With current house prices, you can yield in the region of 6% depending on areas within Bournemouth. Even towns such as Poole have lower rental averages at £1135 per calendar month, yielding around 5.5%.
Compare that to other local towns which do not border the sea, you can see rents drop significantly. A lot of this is caused through demand and desirability. As I mentioned earlier, seaside properties demand higher rents and yields because people are willing to pay more for the lifestyle. It’s really interesting to see how much the effect is, just look at the table to see the drastic range in rents for the Dorset towns.
Talking of demands, the Bournemouth property market is booming. It really is becoming a hotspot for new and seasoned buy to let investors alike. A large part of that is driven by the amount of great opportunities available and I will endeavor to keep sharing with you the best of the bunch throughout the week.
If you look at how many properties are up for rent Dorset, you will see Bournemouth is well over half of the market! Importantly still, most of the properties let in just a few weeks, or days when you look at the student market. Being such a crucial supply of rental accommodation in Dorset, you will see a lot of money being invested into the town which will only boost returns for investors further.
I am always a supporter of investing in property close to home. If you are living in some of the surrounding towns in Dorset, I would strongly recommend you have a look at what Bournemouth could offer you. If you don’t know the town that well, do be careful as different streets yield different results. I would recommend that you speak to an expert who knows the area and can give you the information you need. But if you do your research and invest well, you too could make a bucket load in Bournemouth.
If you would like to discuss investing in Bournemouth property, please do get in touch with us. Whether you are new and starting out your journey in buy to let looking for some advice, or a more experienced investor wanting to discuss a deal you have found, we are here to help. You can give us a call today, drop us an email or come and pop in the office for a coffee.
