Wokingham often gets overlooked by property investors but with planned housing expansion and exce...
Wokingham often gets overlooked by property investors but with planned housing expansion and excellent transport links i thought it would be good to shine a light on the town and what it currently offers investors.
The current average value of property in Wokingham is £444,176 according to Zoopla. This compares with the Berkshire average of £357,611. This of course reflects the affluent nature of Wokingham and the abundence of large family homes. These larger properties can easily distort the averages and may deter some from investing if they just looked at these figures.
However if we take a closer look at smaller properties we can still find some good value opportunities. Flats average at £258,677 and a terraced house can be bought for about £306,000 with price increases over the past 12 months being around 5-6% for these lower end properties.
Capital growth is only one side of the coin when it comes to property investment though. The other is yield, or how hard your money is working. If you were to purchase a flat for the average price and let it for the average rent of £1000 this would give you a gross yield of 4.6%. Add the capital growth into the mix and you have a very nice return indeed. I caution all my landlords to factor in costs like maintenence, management and void periods but if you select a decent property in a decent area there will always be demand for it. Careful selection of investment property is the difference between a good return and a not so good one.
Wokingham, like it's neighbours, is growing. The council hope to add 12,000 houses in the next decade and i expect these to be attractive to people fleeing the congestion of London. The seemingly unstoppable population growth in the South East and the eternal under supply of housing will help Wokingham continue to provide excellent investment returns for those with a long term strategy.
Belvoir Bracknell don’t sell property, we are lettings specialists, but we do guide people based on our experience as to what might make a good buy to let property investment in the Bracknell, Wokingham, Crowthorne and Binfield area. We don’t charge for this service but we would like to manage your property or help you find great tenants. If you would like to have an impartial chat why not pop into our office in Market Street, Bracknell or ring 01344 209088.