LETTING & ESTATE AGENT

Following the government’s update on 13th May 2020 regarding home moving in England during the Covid-19 outbreak, we are pleased to announce our branches in England will start re-opening their doors for booked appointments over the coming weeks. Health and safety remains our main priority, and a number of strict measures will be put in place to protect our staff and customers. Our offices in Scotland and Wales will continue to support customers from home. Visit our branch page to find contact details for your local office.

Coles Lane, Sutton Coldfield vs Riland Avenue, Sutton Coldfield

Coles Lane, Sutton Coldfield vs Riland Avenue, Sutton Coldfield

I was talking to a couple last week, who are considering becoming landlords for the first time.They were looking for advice as to whether a property on Coles Lane, Sutton Coldfield or Riland Avenue, Sutton Coldfield would make a better buy-to-let investment.

They were interested in which would offer a better return/yield, and whilst properties on both streets can let and sell well, I wanted to do a bit more research to help them with their decision.
 
Over the last three years, the average value of a property on Riland Avenue has been around £140,000; while on Coles Lane it was nearly 17% more, at around £164,000.
 
To better understand the investment opportunities available, we considered the rents over the same three year period. The average rent achieved on Coles Lane was in the region of £636 pcm, giving an average yield/return of approx 4.7%. On Riland Avenue the average rent was slightly lower, at around £540 pcm, with a corresponding yield/return of 4.6%.
 
However, one must also consider capital growth and how the value could change over time. In 2000, a semi detached house on Coles Lane would have cost approximately £83,000 and on Riland Avenue the average terrace value was £64,000. This shows that the average property value on Coleshill has risen by 97.6% since 2000, and on Riland Avenue has risen by 118.75%.
 
Ultimately, we found both streets to be equally good investments, but as you can see Coles Lane has a slightly better yield, but Riland Avenue has higher captial growth, which we would not have identified without that extra investigation. Realistically, however, it depends on the best available property to buy on the day.
 
If you are a landlord, new or old, feel free to visit Andrew Clinton (Branch Manager) in our office on Birmingham Road to ask his opinion on which property investment is best for you.