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.