Monday, 2 June 2014

Property Focus West Green

I have built up an extensive database of every property sale in Crawley since the early 2000’s so are able to give an objective and unbiased opinion on what (and what doesn’t) make a good property deal/investment.  Knowing what is and what has happened to the property market in Crawley, compared to say Horsham or Horley, enables me to spot any trends or opportunities for landlords.

I lived in the West Green area of Crawley for over 10 years and I take a keen interest in the property market in my old neighbourhood.  The mixture of new town housing and Victorian terraces close to the town centre make it a desirable area of Crawley.  Here are some bargains that I spotted at the time, and now they have completed, I wanted to share with you. 

A 3 bedroom house in St Johns Road, West Green sold in May 2011 for £182,500 but less than 3 years later in January 2014 sold for £235,000.  That’s a 28.77% increase in total value but if you break it down that’s 9.69% per year, more than any interest rate paid by the banks.  Would it have made a good rental property I hear you ask, the answer is yes.  In 2012 we rented a similar 3 bedroom house in Albany Road, West Green for £950 per month, assuming the same rent that would give a yield of over 6%.

I saw a similar property in Town Barn Road, near to Crawley Hospital that sold in October 2011 for £204,000 but went on to sell for £247,000 in April of this year, 2014.  That’s an increase in value of 21.08% in just 2 and a half years.

Property is my business, whether I lived in the neighbourhood or not we will guide you on what you should be looking for in your next investment purchase.  We do not charge for advice and you are welcome to call in to our offices or email us for our opinion.

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