Last week, a landlord who lives outside of our area, came in to our office to discuss the rising property values throughout our county. I looked at one of our portfolios that comprises of property primarily in Crawley but also in Horsham and compared this to one of our smaller villages, Handcross, as I thought it would be interesting to compare the increase in property values around the area.
Over the last 3 years, in Crawley, average property values have risen from £234,137 to £264,582 a rise of £30,445 or £195 per week. When I looked at some of the surrounding areas, the village of Handcross had a higher increase at £231 per week but just nudging ahead was the town of Horsham with a slightly higher increase of £239 per week. The results show, nonetheless, a rise in all of the town’s average property values which suggests the market is recovering right across our area – good news for home owners and landlords alike.
When considering this buy to let portfolio, yields can be in the order of 4% in Horsham but rising to over 6% on some Crawley properties, depending on where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves, it could be a good time to invest in the property market in either Crawley or Horsham as property values start to rise. If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please come and see me at our office in Orchard Street, behind Barclays Bank on Crawley High Street.