BTL Landlords priced out of London
The newspapers are full of stories of soaring house prices in London but is this good news for budding landlords? Bearing in mind that house prices have increased by 17%, buy-to-let investors in London could see yields as low as 2.3% on their properties, so it’s worth comparing this to far healthier yields of up to 7.5% in Essex. Beresfords is seeing a massive surge of interest in the Essex property market as buy-to-let investors are enticed out of the City. The main commuter areas of Colchester, Romford, Hornchurch and Chelmsford are fast becoming investment hotspots, so we’ve had a look around and found you some properties with great buy-to-let potential:
This four bedroom house on Wingletye Lane, Hornchurch, provides easy access to all major road links and there are also eight mainline and underground train stations within a three to ten minutes drive, making this modern fully detached family home ideal for London commuters. The fully detached house, with its four bedrooms, study, garden and integral garage, is on the market for £450,000. It’s tenanted until the 16th July, but to enquire about a personal viewing call 01708 874380 to speak to our Hornchurch team.
Perfect to rent to Essex University students, this two double bedroom flat has one ensuite shower room, allocated parking, a communal gymnasium and an open-plan living area. Just two minutes from Hythe train station by car, Quayside Drive is also only a ten minute walk to the University of Essex Colchester Campus, or four minutes by car. The property is on the market for £124,950 with no onward chain. Contact our Colchester team on 01206 808791 if you are interested.