Thursday, 11 December 2014
2 bedroom - Abbey Street - Faversham - Yielding 5.19% - 8% INCREASE IN VALUE IN ONE YEAR!
As we slowly venture towards Christmas, the market is just starting to slow down with a 'trickle' of properties coming onto the market. Whilst, in the main, the ones that I have seen aren't that exciting, this one this morning really caught my eye.
It's in the market town of Faversham and in one of the most sought after streets, i.e. Abbey Street. That's a couple of boxes ticked off already! It's on the market with Miles & Barr at £185K and with a rental of circa £800 per month (minimum), this would offer a yield of 5.19%. Again, a couple more boxes ticked off, it's so far getting better and better!
Regular readers will know that whilst the rental yield is very important, as an investment property, it's really all about the capital growth over a period of time. Based upon the above, I thought that it would an interesting exercise to 'drill down' and take a look at the capital growth for this particular postcode compared to the whole of Faversham. In the past year ME13 7BN has seen a healthy growth of circa 8%, whilst Faversham as a town saw a modest growth over the past year of 6.58%. Finally, the property looks to be in great decorative order. That's all the boxes ticked!!
Check it out at the following link and give the agent a call!!