Recently, I’ve met with a number of local Landlords thinking of extending their portfolios in the borough. Like the majority of Landlords, they tend to be looking to invest within a few miles of home and some are already focused on particular areas or even specific streets! However it’s often useful to look at the borough as a whole before narrowing the search.
Currently the average property price in the borough is £357,082 and the average rent £1,433pcm, this gives an average gross yield of 4.8%. Additionally, the average capital growth over the past 12 months has been £35,761 (11.1%).
Now Let. us look at performance in specific areas:
AREA AV. PRICE AV. RENT YIELD CAP. GROWTH
EN1 £316,018 £1374 5.2% £31,651 (11.13%)
EN2 £388,140 £1326 4.1% £35,565 (10.09%)
EN3 £244,547 £1201 5.9% £22,221 (9.91%)
N9 £247,955 £1130 5.5% £27,902 (12.68%)
N18 £248,942 £1037 5.0% £29,556 (13.47%)
N13 £395,930 £1,283 3.9% £41,502 (11.71%)
N14 £503,577 £1402 3.3% £60,467 (13.65%)
N21 £511,404 £1821 4.3% £57,166 (12.59%)
On the face of it, the level of yield across the borough is quite low, with only half the areas (EN1, EN3, N9 and N18) achieving over 5%, however the capital growth figures are strong, with two areas (N14 and N18 – again!) achieving over 13%.
These figures are averages provided by Zoopla and give a broad overview of property performance across the borough. However, last year I identified a property in EN1 for one of my Landlords which is now achieving 8.1% yield!
The opportunities are out there if you know how to spot them!
