If you’re not so keen on watching video blogs – especially if you’re at work!  Please the write-up below…..
Following last week’s article about property prices in Watford and how they had increased £1583 per month over the last 12 months a couple of my regular readers emailed me to highlight the fact that I hadn’t mentioned the rental yield in watford and whether there was any notable change considering the increase in property prices.
If we take the average value figures from last week which said the current average value is £361,002 versus 12 months ago which was £341,995. Then look at the current average rent which is £1,245 versus £1,198 12 months ago we can see that the yield has in fact taken a small drop in Watford from 4.2% to 4.1%.
Going back to last week’s article I mentioned both Rickmansworth and Bushey which according to the numbers on the portals had not increased in value as much as Watford. Well this week they win! Unlike Watford that appears to have experienced a 0.1% decrease in average yield, these towns have experienced a 0.1% increase in average yield.
Which if you think about it when considering the change in average value makes absolute sense.
You have to remember though that we are talking averages here. I know that if you go out searching then you can find a property in Watford with a 5%. If you go for some of the less desirable areas then you can achieve up to 6% and if you are into HMO’s then you can potentially get even more.
It all comes down to what you want to buy, where you want to buy and what you want out of what you buy. In other words “WHY ARE YOU BUYING IT?”
If you don’t know how to work these things out then give me a call. I’ll tell you everything I know and it won’t cost you a penny.