Knowing what to buy and where, so that you make a good investment can be tricky. Here we take a look at one of the most popular roads in Enfield, Bycullah Road. A great place to live but would you invest there?
I was talking to a Landlord recently, who like an increasing number of investors, is looking to buy a property that his daughter can move into in a few years after university. The property has to be close to him in West Enfield, increase in value over time and ideally provide a decent monthly return.
Sounds great, but what if his daughter has other plans? Well, then the property may need to be sold to fund a purchase elsewhere. So in addition to location, capital growth and yield I also needed to consider sell-ability.
The number sales in a street gives a good indication of how easy it will be to sell a property. Bycullah Road tops the list for EN2 with 389 transactions since 1995.
Arching between The Ridgeway and Windmill Hill, Bycullah Road is one of ‘THE’ roads in Enfield. It was built in 1879 and designed for ‘middle class commuters’. It has a wide variety for properties ranging from large detached houses worth £1m+ to one bedroom flats for under £200,000.
The flats on this road are particularly popular accounting for over 320 sales and they can make very good investments. Earlier this year a one bedroom flat changed hands for £167,000 and that flat could achieve a rent of around £900pcm leading to a gross yield of 6.5%, pretty good! Capital growth on this property since 2001 is also a respectable £77,000.
The right area, good growth, good yield and the ability to sell early if necessary? Bycullah Road could be worth keeping an eye on.