Monday 15 June 2015

City centre apartment with a 5.4% Yield...

I hope everyone had a lovely weekend. Logged on to the good 'ole property portals this morning to have a look at what has come to the market this last week that could be of interest for you buy to let people out there, and this one caught my eye.

It's a great 1 bed apartment, rolling distance to the train station! In good condition, these flats aren't that old you see. We have just rented a similar property in this block for £800 pcm to a lovely professional guy. That's the type of tenant you would be looking to attract with this style of property. Even at that price as well, we had loads of interest, the rental market is booming!

Beresfords have just put this property on the market for £175,000, which even if you purchased at asking price, could look to gross you an annual return of 5.4%.

What we are finding at the moment is that there is so much demand in the property sector, most properties are going for their asking prices, if not more! To stand a chance of securing a purchase, go in with your best and final offer, if you don't, someone else wil and you could get pipped at the post.

If you fancy picking my brain about any aspect of the property market, feel free to pop into my office on Duke Street for a chat

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