Monday, 9 February 2015

Great property. Solid yield – Faversham 5.02%


A great start to the week, with a property that ticks all the boxes. It’s a good location, great price and will let all day long, as a great family home.
It’s just come on the market with Invicta in Faversham at £215K. It looks in great condition and is good to go, from day one.
Does it make a good long term investment? Well, I thought it best put my theory into practice and delve into the database and check out some facts and figures regarding the properties location.
If we look at the postcode for the property and look back over the past year, plus the last five years we start to build up a picture regarding its position as an investment. The results were very positive.
For example, if we were to benchmark the property against the whole of Kent, we find that property has increased in value over the past year by 8.58%, whereas Kent, as a whole, has only increased by 6.80%. Now, if we manage the same exercise over the past five years, the variation becomes even more pronounced, as the whole of Kent showed an increase 13.42%, whilst this postcode increased by an impressive 17.04%. Again, this adds further proof to my reckoning about the potential of Faversham.
Enough about the capital growth, what about the rental value? Well again, further good news. These 3 bed properties will rent out for at least £900 per month, which in turn will deliver a yield of 5.02%. Happy days!
Check out the property at http://www.rightmove.co.uk/property-for-sale/property-49230497.html
and give the agent a call.

Should you wish to discuss any other specific properties or just a general chat re the current market, please feel free to contact me on 01227 455717 / canterbury@martinco.com or call in and see me at 23 Watling Street in Canterbury.

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