Owning an investment property is not like owning your own home. What you consider to be an idyllic setting, for some, might be an inconvenience. You may enjoy the leisurely walk to your local amenities, whilst others want instant access to the hustle and bustle of a busy town or city centre.
With the average rent for a 2 bedroom property in Winchester currently standing at £1,110 a month and with the demand for properties on the rise, investing in a buy-to-let in the local area could deliver a lucrative financial investment for the future. However, when purchasing a buy-to-let, don’t jump in the deep-end too quickly. We have previously stressed the importance of researching the ideal location and your target tenants. With this in mind, we have completed some of the homework for you!
Commuter crash pads:
Due to the direct links with London, Winchester is a prime location for professionals needing to reach the capital. With regular trains to Waterloo, the city centre and surrounding areas provide a great location for busy commuters wanting to shave precious minutes off their daily journey. Fulflood, near Stockbridge Road in Winchester, is only a short walk from the train station, offering a variety of properties, from townhouses, new builds, flats to detached properties, suiting both young professionals seeking a convenient crash pad and families wanting to be only a stone’s throw away from regular transport.
With a busy University, Winchester has a thriving student community, all eagerly awaiting their first student home. When looking for a property ideal for students, both price and location are important factors to consider. Winchester’s popularity grows continuously year on year and with prices on the rise, areas such as Winnall and Stanmore provide an ideal location. located near the University or the art college, both Stanmore and Winnall are only a short walk from the heart of the city centre, with plenty of bars, pubs and shops to occupy a student’s spare time. Research by the National Landlords Association (NLA) shows that students offer a steady income and produce one of the highest rental yields of all tenant types.
If you are looking to invest in a more substantial buy-to-let, areas such as Badger Farm, Weeke and St Cross offer properties suitable for a larger brood looking to rent within Winchester. With Winchester renowned for its great schools, families are flocking to the city in order to take advantage of them, with many looking to rent instead of buy.
With rolling countryside and beautiful views, Winchester’s country living certainly doesn’t disappoint. Alongside the demand for rented properties within the city centre, houses located on the outskirts of Winchester are often a desirable hot spot. Properties situated in villages like Littleton, Kings Worthy and Twyford are popular with tenants keen to opt out of city living but still want to access the city without too much effort.
Every town has its rental hot spots, so research is essential. According to a study from Paragon, the type of tenant you choose to accommodate also has an impact on your rental yield. Are you opting for a low value property or a larger investment' By choosing carefully and weighing up prices, yields and past performance, your new property portfolio is more likely to perform successfully.