I was having a chat to a landlord this morning. It started the same way most of my conversations do at the moment.
“Do you think of the Stamp Duty increase will affect buyers?”
“Are you trying to buy more property before April?”
“Are you waiting to see what happens after April?”
“On a scale of 1-10 how annoyed are you about the proposed changes to mortgage interest relief on buy to let properties?” 10 of course is the most common answer or something too rude to write on this page.
But then we moved onto an interesting question the landlord asked me which was, if I could have bought anywhere 12 months ago where would it have been? Off the top of my head I think I would have said West Watford, close to the newly proposed train stations but being a big fan of stats I thought I’d see which postcode performed best in terms of growth over the last 12 months.
Wishing you bought in WD17 Watford
Having looked at all the main Watford postcodes (and we’re talking sale prices here not current values) it looks like the worst place you could have invested is WD25. The average sale price was just over £352,000 which is a YoY increase of 7.66%. Not a bad increase for the worst postcode in town! I also know there are certain pockets that without doubt out performed this figure.
The best postcode you could have invested in is WD17 where the average price paid was £431,602 which is an increase of £47,052 over 12 months or 10.3%.
The other postcodes sit somewhere in-between these figures.
The good news is if you had bought anywhere in Watford at the average sale price of £347,000 in the last 12 months it didn’t matter whether you bought in the worst or the best area you would still have made somewhere between £23,042 – £35,743 if you bought 12 months ago. And that’s before you take any rental income into account!
So which part of Watford do I wish I had bought in? Well of course it would have to be WD17.
If you are considering your next investment in Watford and would like to talk area, type of property or anything else then feel free to give me a call on 01923 375 300.