Properties in the Evershed Way area outperform Repton

Following a discussion with one of my landlords who lives in Repton, where we discussed the Burton rental market and where to buy his next property, we had a chat about those terraced houses around the Evershed Way area, and how they compared to his own village of Repton. I did a comparison and was surprised to find that the annual yield/return in Repton is less than the Evershed Way area, in fact over half! The average price of a property in the Evershed Way area is £87,600, whilst in Repton, it is £276,600. The last few months have seen the average rent in the Evershed Way area to be around £475 per month and around £678 per month in Repton. This means the annual yield/return would be 6.5% if you were to buy a property in the Evershed Way area, but only 3% in Repton

This, however, is a great example of annual yield/return not being the only factor when choosing an investment property, as you should also consider how long it takes to find a tenant. The average time it takes to find a tenant in the Evershed Way area can be up to four weeks, whereas in Repton a tenant is usually found in days. If you take into account the extra weeks of void period for your property every year, you are losing rent and therefore annual overall return from the property. Also, property values over the last 10+ years have also increased at a much higher rate in Repton than the Evershed Way area. This is something I will look at in the coming weeks.

We can help you to find the best investment property with our specialist lettings advice. It is in our interest that you buy a property which will rent well. If you would like any advice on choosing properties, come and see us at our office on the High Street. You can call me for a chat on 07973 666229.