With property prices in Macclesfield 12% lower than they were 5 years ago, has there been any sign of recovery over the last year? In fact property prices have continued to tumble by an average of £48 per week over the last 12 months – so there are still likely to be good investment properties out there.
One of our landlords asked us this week whether Wilmslow offered a better return than Macclesfield as he’d heard that Wilmslow might be a better place for him to invest. We looked at average rents in Wilmslow and found that overall the annual yield could be around 5.8% – a very respectable figure. However, looking at Macclesfield we found the rental yield now averaged out as high as 7%.
Across the area, both in Macclesfield and Wilmslow, rents have remained fairly static over the past couple of years while purchase prices fell. Wilmslow has held its own in the sales market with prices just 7.55% lower than they were 5 years ago which is why the rental yields here are not so attractive.
If you are looking for an investment property or simply want to discuss what would be involved in getting a buy to let property we can help advise. There is no charge and no obligation. Simply pop is to speak to Andrew at our office at 120-122 Mill Street.