Invest in Erdington Buy to let for good yields
Erdington has a large number of households currently renting their home from a private landlord, in fact figures report at a rate of more than double the national average. Therefore, it would suggest that it is already a popular buy to let area and that there is a high demand for rental properties, as the report shows far less home owners than England’s national average. With a good choice of schools and transport links, it is an appealing place for those with children or those looking to commute for work.
There are a large proportion of single parent families in the area, and there is also a higher than average level of unemployment too, so if you as a landlord were looking to rent to those on state benefits this would be a good place to buy.
House prices show steady growth throughout the past five years for flats and houses alike, without any harsh spikes or dips. This gives us the impression that it would be a safe bet to buy in this area in the current climate. Statistics also show that most properties go for below the asking price, which is something else to keep in mind when looking to make an offer on anything.
Erdington has many properties for sale below the market value too which can be picked up at organised auctions in the area. This provides a great opportunity for bagging a bargain that will in turn give a higher rental yield to your investment. An average rental yield based on the asking prices and the average rent in the Erdington area is around the 5% mark, but by buying properties specifically below the market value this can be greatly increased.
Belvoir Erdington will be pleased to advise you on the latest buy to let investment properties on the market for investment.Call our office on 0121 350 4441