Is it the right time to invest?
Angela Ellis
As we’ve seen the world heading slowly back to the normality we once knew, the property market has seen a significant rise and demand on property searches that are within easy access of train stations. With working from home for part or majority of the week also being the new norm, commuters are seeking that perfect work life balance that suburban towns have to offer, being within easy access of the city whilst still having the countryside right on the doorstep has proved to be the most favourable location in the current market.
While we’ve seen lower rates on fixed term mortgages becoming more widely available and a high demand vs a low supply of rental properties on the market, it’s driving landlords to look to expand their portfolios. With interest rates predicted to rise over the coming years offering another incentive of investing in a buy to let property to further maximise rental income. Average rents currently vary from £825 to £1,800 pcm depending on property type with average yields of between 4 – 5 %. Zoopla are predicting that average rental prices across the country could rise by another 4.5 per cent in 2022.
In Watford (WD17, WD18, WD24, WD25) there are over 36,000 properties. The flat proportion at 32% is high by any town standards. This reflects the number of developments in Watford and the lack of available land here, meaning new buildings have gone upwards to fill the need required. This proportion will only increase in the next 5 years with the volume of apartment developments already passed to be built numbering several thousand. Watford is a popular choice for professional couples, including those commuting or hybrid working, as well as families. We’ve seen sustained popularity of new build flats as they continue to appear on the ‘must have’ landlord portfolio growth list. The seamless relationship with us and our New Homes department puts our landlords in an even stronger position for the coming year, regardless of whether we manage or simply let the property for them.
With many landlords on the hunt for properties in the suburban towns outside London with greater outdoor space, larger living areas, off street parking and cheaper than London price tags, while still remaining within close proximity of good transport links, we have several developments that would meet your criteria and are available to view now. If you’d like to find out more about our Investors Event on 5th & 7th May, please contact Nicola on 01923 608373 to reserve your place. .