Gossops Green is Great for long term tenancies

Any landlord looking for a long term investment would be wise to look at the potential of the three bedroom house in the Gossops Green area of Crawley.   It is being marketed with local agent Northwood at a guide price of £240,000.

http://www.rightmove.co.uk/property-for-sale/property-47664386.html

Gossops Green is one of those “middle of the market areas” of the town.  It is close to the railway station at Ifield but has never achieved the commuter status of the neighbourhoods on the east side of Crawley.  However – what it does do well is attract long term tenancies.  The average length of the tenancies in the properties I rent in the surrounding roads is in excess of 5 years.  These are family homes in an area popular with families with school age children.  The schools in Bewbush, Ifield and Gossops Green are easily accesible as well as Ifield Community College and St Wilfrids Catholic Scholl for the older children,   The current rental prices of £1100 per calendar month will result in a gross yield of 5.5% and with the average capital gain of 40% over the last 10 years it could make a solid investment.

Gossops Green Family Home

  

Perfect Pound Hill Investment

Investors need to hurry to add this little gem to their portfolio.  This compact 2 bedroom house is being marketed for sale with Astons Estate Agents this week and I know if I marketed it for tenants I could let it ten times over.

http://www.rightmove.co.uk/property-for-sale/property-47111437.html

We have just let the house opposite at £975pcm per month.  We let the house within 24 hours of being marketed and at the full asking price.   Pound Hill is thought of as the premier neighbourhood and properties there are always in great demand.  Figures from the Martin & Co intelligence report show that 1 and 2 bedroom properties account for 69.4% of the demand.  If purchased at the guide price the yield would be just above the magic 5% and tenancies in this road average 2.5 years.  Long term investors would be interested to know the capital growth has been 30% over the last ten years.

If you are considering a buy to let purchase you are welcome to contact me at the Martin & Co Crawley office for assistance & advice on the local rental market.

LET first viewing

Crawley Landlords Enjoy Capital Growth

I have recently been speaking with a number of Crawley landlords about the importance of a balanced portfolio of rental property.  Mortgage lenders will always concentrate on the monthly returns and aim for high yields but with property prices in Sussex increasing faster than the national average landlords must not forget capital growth as the reason for their investment.   

A 2 bedroom house we recently let in Golding Close, Maidenbower was rented at £1100 per month.  The house is currently valued at £285,000 which would only give a yield of 4.6% if purchased and let out today.  However the current landlords bought the property in 2010 for £221,000 and if the current valuation is correct they have enjoyed a capital growth of 30%, outstripping any return from bank or building society.   

Whether you are a first time investor or experienced landlord and considering your next buy to let purchase contact me in our Crawley office for advice on the local market. 

6.4% Yield in Southgate

Achieving a yield of 6% is exciting news and this 1 bedroom maisonette in Southgate would make a perfect home for any tenant wanting to be close to the town centre and Crawley railway station. On the market with local agent Homes Partnership you can view the details by clicking here..

http://www.rightmove.co.uk/property-for-sale/property-52545422.html

The property is located in the sought after leafy suburb of Southgate that is adjacent to the centre of town but Tilgate Park and the K2 sports centre are also within easy reach.  The established location and stunningly large garden would appeal to an older tenant looking for a long term let.  A conservative rental estimate of £775pcm would give an impressive gross yield of 6.4%.  

If you are considering a buy to let investment you are welcome to call in to my Martin & Co office on Orchard Street or email me for local property advice.