I have been talking to local landlords who are interested in how property prices have changed in the last year. Without a doubt the market has picked up, with prices increasing.
You will know rises are not uniform across the country and the same is true even in the borough of Hillingdon. For example prices in Uxbridge, Hillingdon, Ickenham and Hayes are up 5%, Ruislip is up 6.5% and West Drayton have increased 9% on a year ago. So the average property in West Drayton is now worth £256,000. The 9% increase means that prices have gone up by £1,750 each month! With slower growth, but higher prices the average increase in Uxbridge is just over £1,400.
Careful research can still pay dividends when investing in property, I looked at one location in West Drayton with studio flat’s offered for £120,000 which where one last sold 14 months ago for £90,000. Useful information to know if you are thinking of making an investment. If you would like our opinion on what to buy, feel free to come into our office on Hillingdon Hill. We don’t sell houses but we will help you find a great buy to let property.
