We all know Cherrytree Avenue as one of the sought after places to live in Waterlooville, as it’s a major entry road into the modern Tempest Estate with good schools nearby. The average property here sells at around £206,000 and rents are roughly £850 to £900 per month.
These are reasons a landlord came to our office to find out if Cherrytree Avenue would be a better rental investment than Middle Park Way, where he has a property at the moment. When we compared the two, we found Middle Park Way is made up of three bedroomed semi-detached properties which were built in the 1950’s and are ex-local authority. On average they sell at around £125,000 and can rent at around £795 per month.
It became interesting when we compared the possible annual yields, as Cherrytree Avenue could achieve 5% but yields can be as much as 50% more on Middle Park Way at around 7.6% on average. However, we must remember that yield is not the sole consideration when investing in buy to let. The average value of property on Middle Park Way has risen by 80% since 2000, but Cherrytree Avenue has risen by 102%.
If you would like to come and discuss property in the area, you are welcome to visit our offices on London Road, Waterlooville or Palmerston Road in Southsea.
