A landlord came into our office to ask whether the Abbey Manor Park or the Wyndham Park estates in Yeovil would be a better place to invest in. She was considering purchasing a two bedroom semi-detached or terraced house after reading one of my recent articles about the best investment properties in the area.
The Abbey Manor Park estate was built in the ‘noughties’ and has proven to be one of the, if not the most popular housing development in Yeovil’s history. Including a school, community centre and shops, the development has added a whole community to the West side of Yeovil in the Brympton parish. With several different developers and therefore a wide range of styles in the estate, the houses and apartments have a modern feel with parks and green areas generously added.
The Wyndham Park estate was started in 2011/2012 and has grown hugely over the past 2 and a half years since Martin & Co has been open in Yeovil. There are 3 developers in this estate and the properties here are more aesthetically attractive in my opinion, with a range of styles that add variety and individuality to the estate. However, I am aware of tenants and owners who have found the build quality to be a lower standard than one might expect with sound quality between partition walls being poor in some areas. In both estates room sizes tend to be a good deal smaller than in older properties, which is common in modern housing estates. The average value of a two bed house on the Abbey Manor Park estate is £154,151, whilst on Raleigh Road on the Wyndham Park estate a terraced two-bed house has an average value of £143,661 (both according to Zoopla’s Zed-Index when I checked today), although my feeling is that the prices are relatively comparable between the two estates at present (re-sales in Wyndham Park, not sales from developer).
On the Abbey Manor Park, a two bedroomed semi-detached house can achieve rents of around £595-£640 per month with a three bedroomed semi-detached house achieving £695-£750 per month. Looking at the rents for Wyndham Park, a two bedroomed semi-detached house can achieve £650-£675 per month, with a three bedroomed semi-detached house achieving up to £775 per month. Due to the newness of the Wyndham Park estate, we can still demand higher rents than average for properties across the rest of Yeovil – new properties are highly sought after! Therefore yields can be that bit higher on the newer properties and therefore may be the better investment property at this time.
If you would like any advice when choosing properties, you may come and see us at our office on Princes Street.