Rightmove have released their latest set of "averages" for the pricing of property in the Welling area, and as usual they make questionable viewing.
Regrettably, they are only based on transaction from one calendar month and peaks and troughs over time are inevitable. I therefore take them with a pinch of salt.
 |
| Average Sale prices for Welling, DA16 |
 |
| Average Rental prices for Welling, DA16 |
The market remains strong generally. Valuations are up, viewing numbers are up, although offers are more difficult to squeeze out, but when they come, they are usually agreeable.
Of more pressing concern to me, and local landlords you'd hope, is Rightmove's stat that average rental yields in the area stand at just 4.67%. Without wanting to alienate every tenant in the area, if you are a landlord and you are getting less than 4.67% as a rental yield, you really need to be making some phone calls. With a lack of rental stock in the area, and coming in to the Spring and Summer peak months, a re-evaluation of your property portfolio could be long overdue.
 |
| The average rental yield in the area is just 4.67% |
On a positive note, Bexley is the third highest London Borough on their list of annual price increases. Given one of the higher two is the unaffordable City of Westminster, it makes investing in the Bexley area as attractive a proposition for landlords as ever.
 |
| Bexley has seen some of the best increases % wise in London |
Rightmove's full report can be found here ... http://www.rightmove.co.uk/news/house-price-index/?utm_source=investors-newsletter&utm_medium=email&utm_content=hpi&utm_campaign=may17
If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.
Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.
Don’t forget to visit the links below to view back dated deals and Welling Property News.
Follow The Buy-To-Let Property Investment Market in Welling
Welling Property Market LinkedIn Page
Danson Property Services Welling Facebook Page
Danson Property Services Welling Twitter Page
Welling Investment Property Specialist Danson Property Services Website
Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.
Don’t forget to visit the links below to view back dated deals and Welling Property News.
Follow The Buy-To-Let Property Investment Market in Welling
Welling Property Market LinkedIn Page
Danson Property Services Welling Facebook Page
Danson Property Services Welling Twitter Page
Welling Investment Property Specialist Danson Property Services Website
No comments:
Post a Comment