Since May 2011 there have been 27 wards in the Borough of Bedford.
But where should a landlord buy?
This was the question a landlord asked the other day when he called into our office in Tavistock Street.
We researched two areas: Putnoe & Queens Park:
For each we looked at a three bedroom house. As there is currently a high demand, and low supply of these types of property
In Putnoe: the average value of a 3 bedroom house is £195,000, with the average achievable rent being around £750 per calendar month, giving a yield of 4.6%
In Queens Park it is £154,000 with an average achievable rent £655 per calendar month giving a yield of 5.1%. Clearly Queens Park seems to be a more profitable option.
Or is it?
Looking at the Council figures, 28% of the dwellings in Queens Park are rented privately. Whilst in Putnoe a mere 5% are. We know there is a demand for property in both areas. However buying in Putnoe is probably more desirable as there is more likelihood of less competition in the market.
Clearly there are many factors to consider such as transport links, access to the Town Centre, Schools. The local authority demographic survey was extremely interesting and helpful in order to offer more comprehensive advice to our landlord
If you are considering a buy to let investment. Call into our office in Tavistock Street to look at the best option for you.