I was talking to a homeowner recently who lives in Chestnut Grove in Staines who was considering his first buy to let property and was interested in understanding the property market a little more.
As he lived in Chestnut Grove, which for those that don’t know is off the Kingston Road between Mathew Arnold School and the Station, he was comfortable investing in houses in central Staines, so we started to discuss the market in this area.
Firstly we found that 587 semi-detached properties have sold in Staines in the last 5 years at an average price of £285,000, so there is clearly a very active market.
What about values? Well a two bed semi on Hythe Road recently sold for just under £270,000 having previously changed hands for £109,000 in Feb 1999, a rise of just over 148% in that period. This is certainly a very healthy growth. With excellent capital growth like this we would expect rental yields to be comparatively lower, however a typical two bed semi should rent out at £1,150 so over that period the rental yield has consistently been between 5% and 6% and sometimes higher.
If you would like to talk to us about your potential investment please come into our office on High Street Staines. We can guide you on what and where to buy. We don’t charge for our advice, so just drop in for a chat.