I have been talking a landlord friend of mine who is considering purchasing an investment property in the area and he wondered which might be the better area to invest in, Uxbridge or West Drayton.
Although they are quite close there is a large difference in average property prices between the two areas. The average in West Drayton is around £241,119 and in Uxbridge around £335,325. There’s a marked difference in the average rents asked too, £1,071 for West Drayton and £1,519 for Uxbridge. But both give a yield of over 5.3% with Uxbridge edging out West Drayton by 0.1%.
However as well as the yield, investors make money on the capital growth when selling. Over the last four years property in West Drayton has risen in value by 9.4% and in Uxbridge 11.3%. So West Drayton has trailed Uxbridge a little. However perhaps because of Crossrail on the way in 2018, West Drayton prices have risen faster in the last year, one source quoting nearly 5%. With its lower purchase prices and the possibility of what could be a 24 hour a day tube line, West Drayton may well be an area to consider carefully.
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.
