A little while ago I wrote about whether Uxbridge or West Drayton would be better for a buy to let invest-ment and recently I’ve been asked my opinion by a landlord friend on which is the better area for invest-ment Uxbridge or Hayes?
The average property in Hayes sells for £247,823 and lets for £1002pcm, making for a yield of 4.9%, compared to an average price in Uxbridge of £343,215 which lets for £1,455 for a yield of 5.1%. That’s almost a £100,000 price difference between the two areas.
So Uxbridge is slightly ahead on yield, but the higher the rent asked, the longer it normally takes to find a tenant. Tenant demand is much stronger below £1300, than above where only 12% of the tenants seek property at this price and have a choice of 39% of property on the market.
Capital growth is important for landlords and in the last 4 years house prices in Uxbridge have increased by 9.2%, compared to 12.8% in Hayes. Hayes also has the added incentive for growth with Crossrail going live in 2018.
Both areas present good opportunities for buy to let investment and what is key is the location, price and condition of any investment property. 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.
