Wednesday, 25 May 2016

5.3% Yield in Maidenbower

With some commentators saying that the sales price increases are coming to a stop we are already seeing reductions in the asking prices of some properties currently for sale.  I spotted this little 2 bedroom house in Dakin Close, Maidenbower that has just had its price reduced by local agent Taylor Robinson.  You can view the details by clicking here:
Two bedroom houses like these are pretty sought after in the rental market, rents have increased by more than 25% over the last few years.  Similar houses have rented for £975 in the current market which would give a yield of 5.3% at the current advertised sale price – not bad for a freehold house in that part of town.   
2 bedroom house for sale - Dakin Close, Maidenbower
The second bedroom is small but makes a great room for a child or single person to stay and there is ample parking in Dakin Close itself.  For those without cars there is a frequent bus service a few yards from the house that connects to Crawley town Centre via Three Bridges mainline railway station.  Landlords need to bear in mind the stamp duty payable on the £220,000 asking price would be £8500 but with interest rates still at 0.5% the 5.3% yield on the property looks very attractive.

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