Friday, 20 June 2014

Maidenbower - Are the properties a good investment?

We always get asked by new landlords and investors for our opinions on which is the best area in Crawley for property investment.  Many of them already know that Maidenbower is one of the most sought after neighbourhoods but are put off by the high price of the property.

This 2 bedroom house in Stirling Close, Maidenbower was sold this week at £230,000.  It is tenanted at £950pcm which gives a gross yield of 4.9%, just short of the magic 5% that some landlords consider their minimum.  There are higher yields to be had in Crawley but yield is not the only consideration. 

For a little bit of Friday fun I checked the rental history of this property and discovered that in the last 11 years there have been 4 changes of tenant but the total of all the void periods came to only 19 days.  A property in a highly sought after area like Maidenbower will have a higher purchase price but it is likely there will also be an increased tenant demand.  There aren’t many landlords who can say they only lost 19 days rent in the last eleven years.     

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