Recently launched onto the market is this two bedroom terraced house in Burnham Gardens, Hayes. The location is under a mile from the Crossrail Station Hayes and Harlington. So a location that is popular at the moment and has a good growth story set for the future.
The property is a two bedroom terraced house at (overs over and sealed bids) £275,000. Now two bed terraces sadly don’t tend to attract a higher rent than flats and you do pay a premium for them over the flats. However at least you don’t have to worry about lease extension issues down the line and having to pay service charges.
How do the rents vary in Hayes between two bed houses and flats?
The rent for two beds flats and apartments in UB3 lies between £995pcm and £1,500pcm, with £1,250pcm the most popular price for a good quality flat that is not a new build. For houses there are far fewer available and the price range is £1,000 to £1,300pcm. So as I said a similar price where none are new builds.
A Premium of Houses
The purchase price for two bed houses is between £275,000 and £375,000. Compared to flats with a range of £224,000 to £375,000. The new builds near the Station pushing the figure up for flats. So the entry price is £50,000 for a house over a flat, which demonstrates the House vs Flats premium investors will need to pay.
This Example
Let at £1,250pcm the property would yield 5.4% gross. A nice return for a house in walking distance of the station. Worth looking at.
