When considering where to invest in a property for the buy to let market, the majority of Landlords choose flats and houses in towns and cities. However, there can be many good investment properties in smaller towns and villages, and those of South Somerset and West Dorset are no exception. With this in mind I decided to have a look at the property market in a popular village in South Somerset which we service from our office in Yeovil: South Petherton. Here at Martin & Co we manage or have let multiple properties in South Petherton and the surrounding hamlets with great success. According to the 2011 census information, 85.1% of homes in this area are either owner-occupied or privately rented, compared to the 82.1% average for England as a whole.
A village that is popular for working professionals commuting into towns like Yeovil and Sherborne and to employment centres like RNAS Yeovilton, what I found out about South Petherton from a property market perspective was quite interesting. The average value of a property in the village is £306,500, which is a huge £66,500 above the average of its neighbouring village of Martock. The most expensive street within the village itself (and not in surrounding hamlets where average prices are as high as £646,000, is Whitfield Lane, where an average property is worth in excess of £490,000. There have been 331 properties out of the 880 properties sold in the last five years.
The most expensive property was a beautiful period town house near the village centre, which sold for £995,000 in 2013. The average rent in the village over the last 3 years has been £695 per month. 51 people who owned property in South Petherton and the surrounding hamlets have sold their property in the last 12 months, according to the Land Registry.
If you would like to come and discuss property in the area where you live, you are welcome to visit our office in Yeovil or call me today!