I was asked this week by someone who is looking to buy a property to let – where is the best area to buy for both rental income and potential capital appreciation. That is a difficult one to answer, unless full due diligence is carried out for an area it is all too easy to get it badly wrong.
We don’t sell property and don’t charge for our advice, so we can be
impartial advice with out any conflict of interest to our Landlords.
One area that immediately sprang to mind though was the Tempest Estate area in Waterlooville. This is a sought after modern estate with the full range of properties from studio apartments right up to large 4/5 bedroom houses, conveniently located with easy access to local shopping and the A3M, prices here have held up well during the
downturn and they command good rents. For example, one bedroom houses in Spruce Avenue were selling for £110,000 to £115,000 in 2009 and one sold in March for £122,500. Rents, dependent upon the specific property are in the region £535 to £595.
My message for all Landlords would be to take some advice before purchasing a property to let. For advice on buying in a specific area just give me a call.