our landlords came into our office the other day; she owns a 2 bed terrace
house on South Primrose Hill. She bought it back in 2006 and wanted to have a
chat about how the property prices have fared in that time in the South
Primrose Hill area, given that over this time prices have gone through a bit of
a roller-coaster ride. She also wanted to see how the change in prices has
affected her yield.
average value of a 2 bed terrace house in South Primrose Hill in 2006, when she
purchased her property, was £195,921. By 2008, average valuations in
the street had risen to £208,000, a rise of 6% in 2 years. Only a year later the average values had dropped to £183,748, showing how quickly the market
changed when the crash happened. However, 9 years later, property values in
this street currently stand at £241,427. An overall increase in value, of 23%.
told me of the rents she had achieved on the street, they seem fairly stable over
the nine years of her ownership. When she first started with the property, the
rents achievable were around the £730 pcm mark. Now, the current average rental
prices of a 2 bed house on South Primrose Hill are around £895 pcm. This means
that her property has produced her an even 4.4% annual yield from start to
finish, a good sign that no matter what was happening in the property market, the
rental yields have remained stable throughout.
would like some advice with your potential investment, please come and see us
in our office on Duke Street.