Many investors drawn to the Gatwick area want to buy in the Maidenbower area of Crawley but finding good deals in these areas can be tricky, it is one of the most desirable areas and has the highest prices.
One of the closest neighbourhoods to the airport is Langley Green & we have seen properties achieve a 45% increase in capital value since the start of the downturn. Langley Green is one of the well planned Crawley estates that formed the basis of the new town being developed in the 1950’s.
Our investor purchased a 2 bedroom house in Beckett Lane, Langley Green for £155,000 in 2008 and has seen similar properties recently come on the market at £255,000, a 45% increase in capital value. The closeness of Gatwick Airport makes the area ideal for tenants working at the airport & local homes are always in high demand. Gatwick employs 23,500 on airport staff, many of them potential rental clients.
Another investor bought a 3 bedroom detached house for £190,000 in 2004, a neighbouring house sold for £264,000 in 2013, that’s a 39% increase in capital value over the last 9 years. This house is currently rented £1020 per month which gives a 6.4% yield on the original purchase price.
For any property prospectors considering an investment purchase in Crawley we have years of experience and can offer advice, free of charge & based on actual properties and tenancy deals that we have been involved with. Advice and hints on currently available properties can be found by clicking here for Davids blog .