I
always tell our Landlords that knowing your market place is so
important when making a decision on what (or not) to buy when
investing in Wimbledon Property.
After
a conversation with a Landlord who lives in the 'Apostles' in Raynes
Park, one of the elite places to live in. She was considering another
buy-to-let investment particularly in the SW20 area and wanted some
advice.
Last
week I looked at SW19 as a whole. Today I want to look at the SW20 to
make a comparison and present Landlords with potential investment
opportunities. In the south of the railway of the SW20 postcode
district lies Raynes Park, Wimbledon Chase, West Barnes and Canon
Hill. There are 188 streets in the SW20 postcode with 11,629
households and 2,807 of those properties are privately rented making
24% of the housing stock in the private rental sector compared to
32.5% of SW19.
We
found that the average property in SW20 is worth £649,500 which one
would expect is lower than SW19 average value of £746,000.
Interestingly enough, the prices achieved in SW20 over the last
twelve months are 8.63% up on the previous year and 21% up on those
achieved in 2012 where an average house price was £537,300.
Nonetheless,
the properties do sell well, in actual fact 1,397 of those properties
have changed hands since 2012. We are also seeing a higher percentage
of tenants deciding to stay longer with longer terms of fixed
tenancies in their properties and the request for properties that are
in good areas are increasing. With such high demand from tenants and
homeowners, this could also be a great area to purchase your next
buy-to-let investment.
If
you are a landlord or thinking of becoming one and thinking of a
buy-to-let investment in the near future, I am always happy to give
my advice and offer you an objective opinion. Please feel free to
email me at sam@masonandco.co.uk
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