LETTING & ESTATE AGENT

We are pleased to announce that following the government’s guidance on moving home during the coronavirus pandemic, our branches in England have now re-opened for pre-booked appointments, and our branches in Scotland in Wales will start re-opening their doors over the coming days. Health and safety remains our main priority, and in line with government’s advice, a number of strict measures have been put in place to protect our staff and customers. Visit our branch page to find contact details for your local office.

Studio Flats - Are they worth it?

Studio Flats - Are they worth it?

Earlier this year a client of ours sold his studio flat that he purchased in 2009.  After five years the capital growth had not been outstanding, only 4%.  If he had purchased the flat when it was previously sold in 2003 the capital growth would have been a much higher 50%.  What struck us was the yield, based on the 2009 purchase price the yield was a phenomenal 8%. 

Studio apartments tend to be the first rung on the property ladder for tenants or a temporary place to stay for visiting workers and experience a higher turnover of tenants than the larger properties.  But with a constant stream of workers coming to Crawley to work at Gatwick Airport the studios are always in demand and this has continuously pushed up the monthly rent.  At the price the flat sold at this year the yield is still just under 8% (7.93% if you want the exact figure).

So are studio flats worth investing in?  If the right location & the right price can achieve an 8% yield – yes they are.