This blog follows the buy-to-let market in Canterbury and the surrounding area. You'll find tips, guidance, and analysis that relates specifically to Canterbury and you'll also find properties from all the estate agents in the town on here that may make decent investments. I operate Martin & Co in Canterbury and if you're thinking of buying a property to let in Canterbury, I'm happy to offer a second opinion.
Saturday, 11 October 2014
Two bed apartment in Canterbury - 5.75% yield
As I gaze out of our office window, on this damp October morning, it's quite hard to get too excited about anything, let alone the UK economy and the performance of the UK property market. Thankfully, there's a little ray of sunshine coming out of Rightmove this morning in the form of a two bedroom apartment in the Wincheap area. As you are aware from previous blogs, I have always been an advocate of two bedroom apartments, as these properties form the 'bread and butter' of the lettings market both here in Canterbury and across the UK.
The property in question, is a two bed ground floor flat which is on the market with Kent Estate Agencies for £177.5K. Whilst fairly basic inside, the property looks clean and tidy and should rent fairly swiftly. We would reckon a rental figure of circa £850 per month, which would deliver a fairly healthy yield of 5.75%. Upon further inspection of the property details, it comes with 2 x parking spaces, which is a real plus as most similar properties only come with once space.