Upper Bridge Road Vs Springfield Road

I was talking to a couple last week, who are considering becoming landlords for the first time and they were looking for advice as to whether a property on Upper Bridge Road or Springfield Road would make a better Buy to Let investment. They were interested in which would offer a better return/yield, and whilst properties on both streets can let and sell well, I wanted to do a bit more research to help them with their decision.

Over the last year, the average value of a property on Springfield Road has been around £302,843; while on Upper Bridge Road it was less, at around £239,249. To better understand the investment opportunities available, we considered the rents of the same period. The average rent achieved on Upper Bridge Road was in the region of £839 pcm, giving an average yield/return of approx 4.2%. On Springfield Road the average rent was slightly higher, at around £1033 pcm, with a slightly lower yield/return of 4%

However, one must also consider capital growth and how the value could change over time. In 2003, the average price for a property on Upper Bridge Road would have been approximately £156,500 and on Springfield Road the average value was £204,500. This shows that the average property value on Upper Bridge Road has risen by 52% since 2003, and on Springfield Road has risen by 48%.

Ultimately, we found both streets to be equally good investments, but as you can see there is hardly any difference in the yields/returns or the increase in values, which we would not have identified without that extra investigation. In this case, it depends on the best available property to buy on the day.

If you are a landlord, new or old, feel free to visit our office on Duke Street to ask our opinion on which property investment is best for you.