Thursday, 21 August 2014

Return to Sunnymead, Crawley

Back in June I wrote about the tremendous yield you could get on the 2 bedroom flats in West Green, Crawley & today I have seen one of these flats come to the market with local agent Platinum Estates

On my last post I had  guessed the price had surpassed the 2007 peak and if they achieve todays marketing price of £179,950 it would be a record for a two bedroom flat in that road.  It would seem that my client that bought in 2006 for £137,000 has done ok now that the market has recovered. 

But do these flats still make a good investment?  The current rent for a 2 bedroom flat in this road is now £850 per month.  Even if this flat was purchased for the record full asking price it would generate a yield of 5.66% which makes it worth considering. 

My job is to keep the property filled with tenants paying the correct rent & I can show how the rent for these properties have consistently risen, in fact rents are 20% higher now than 6 years ago.  It would be up the investor to see how much of a discount they could get off the asking price to make it an even better investment and increase that yield even further.

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