We all know Bishopdown Farm as one of the sought after places to live in Salisbury; a well laid out development with attractively styled houses close to open countryside but with good local facilities and a 'bus service to the city. The average property here sells at around £335,700 and rents are roughly £900 to £950 per month.
These are reasons a landlord came to our office to find out if Bishopdown Farm would be a better rental investment than Bemerton Heath, where he has a property at the moment. When we compared the two, we found Bemerton Heath is made up of flats, terraced and semi-detached properties which were built from the 1950s and are ex-local authority. On average they sell at around £116,500 and can rent at around £690 per month.
It became interesting when we compared the possible annual yields, as Bishopdown Farm could achieve up to 3.4% but yields can be as much as 50% more on Bemerton Heath at around 7.1% on average. However, we must remember that yield is not the sole consideration when investing in buy to let. The average value of property on Bemerton Heath has risen by 28% since 2000, but Bishopdown Farm has risen by 63%.
If you want to discuss property call in or telephone Bryan Greenwood 01722 41414101722 414141.