There have been an increasing number of price reductions appearing in the listings and today I saw this 3 bedroom house in Willow Close, Northgate. The agent, Taylor Robinson, has already reduced the asking price in the first week of marketing and with another little reduction it could achieve that magic 5% yield.
You can see the details by clicking the link:
Northgate is a fantastic area for a family rental home. Walking distance to the town centre, catchment area for the renowned Hazelwick school and close enough to the Manor Royal Industrial Estate to walk or cycle to work. In its current condition it would achieve a rental price of £1125 to £1150 per month, so to hit that 5% yield it would need to be purchased for £270,000. The stamp duty that a landlord would pay on that price would be a shocking £11,600 but at least it would be claimable from any capital gains tax when the property is sold on.