The big draw with West Drayton is of course Crossrail. In 2019 we will be able to enjoy a trip from West Drayton into town rather than just edging into Paddington and having to trudge onto the tube for the second leg of your journey into
The big draw with West Drayton is of course Crossrail. In 2019 we will be able to enjoy a trip from West Drayton into town rather than just edging into Paddington and having to trudge onto the tube for the second leg of your journey into the capital. You never know you might even be able to get a seat in the morning but let's not push it!
Entrance to Station Approach West Drayton
We have seen prices of property go up in the area, in Hillingdon the average property is now over £400,000 and these price increase are being driven by the south of the borough rather than north of the A40 (although they are still seeing increases).
So we know about property increases. Zoopla says that the current increase is £334,000 and has risen by 7.2% in the last year. I think this is a little low. I tend to pay most heed to Land Reg figures which are produced borough wide..
Studios in West Drayton UB7
There are only a few available at the moment which helps keep the prices high, They range in value between £150,000 and £170,000. Rents are broadly similar to last year and vary between £675pcm and £795pcm with £725pcm being typical. There is quite a lot of studios available at the moment, around a dozen. The typical gross yield at the moment is 5.5%, whereas it was 6.5% last year.
I think that is more a function of the scarity of stock to sell than a real shift from 6.5% to 5.5% but as house prices rise faster than rents do, that leads to a decrease in the yield. Unless house prices drop that's the future.
Fairfield Road, Yiewsley near West Drayton
One Beds in West Drayton UB7
These start at around £179,950 at the moment. A couple of years ago that figure might have been close to £140,000 but time, tide and Uxbridge property prices wait for no one. Available is much stronger with close to twenty properties in UB7 available. At rental ranges between £825pcm to £1,200pcm the average gross yield is currently 5.1% for one beds in the area.
The one beds will tend to appeal to single people or young couples and tend to let nicely. There are plenty of people in West Drayton who work at Heathrow for example.
Two Bedroom Property in West Drayton UB7
The rental range for two beds in the area is between £1,100 and £1,550pcm at the high end. The price for these properties start at £240,00 and goes up to around £319,995. Typcally houses will cost you about £50,000 more. Typical yields are around 4.8% for a flat and 4.4% for a house. There are plenty of flats available and more being built in the area at the moment as Crossrail heads our way.
A year ago the rental range was quite similar. I think that the development of a number of two beds has kept the rental market level in this area. Good news for tenants.
Three and Four Bedroom Property in West Drayton UB7
A year ago the best priced three bed was £1,095pcm and now the rents start at £1,250pcm so a nice move on for landlords. You can find the odd three bed over commercial premises which are good value for money but can take a while to let/sell but three beds to buy start at around £325,000 (although the average will be higher of course).
Yields on three beds are around 4.5% and typically a little lower around 4.3% on four beds which often start let at around £1,600pcm.
The rental range on three beds is £1,250 to ££1,850pcm and £1,650pcm to £2,200pcm on four beds.
Front of West Drayton Crossrail Station
Yields in the area
Yields are dropping a little. This is a common occurrence in a rising market, where house prices exceed the rise in rents. House prices are typically driven by the amount of money that people can acquire on mortgages, whereas rents are more closely linked to wage growth, which remains contained in the UK with RPI inflation less than 1%.
Other articles you may be interested in....