A landlord and I were discussing popular locations in Bedford where there is demand for rental property. And she wondered which property market would out perform the other.
I decided to do a little research to compare Chaucer Road to Castle Road , with some surprising results.
The average property value on on Chaucer Road is £171,934, with average rents being around £653 per month, whilst the values are considerably more on Castle Road at £232,800.
Properties on average on Castle Road will usually rent for around the same per month, which would only achieve an annual yield of 3.37% compared to 4.55% in Chaucer Road.
With the possible annual yield being higher on Chaucer Road , it seems to be the best area to invest.
However, you must do your research and decide what you would like from the investment, as Chaucer Road could have longer void periods and shorter tenancies.
If you would like our opinion on what to buy, feel free to come into our office on Tavistock Street .