An investment landlord,
who lives in Melton Mowbray, who attended our
first buy to let event in 1999, recently asked this very question. He had been
wise enough to invest in a property on Kings Road in 2000 and was considering
where to invest next.
Sold house prices on
Kings Road are 1 % above where they were 5 years ago which means they are at
the same level as before the credit crunch hit. Purchasing a property now at
the current average price of £ 111,000 and securing an average rental return of
£525 pcm would give you a yield of 5.6%.
Victorian properties
often require modernisation but this should be reflected in the purchase price
and once the electrics, heating, windows and roof are in good order there
should not be too many ongoing maintenance issues.
A lot has changed in
the last few years since 2000 but it would seem the right property in this area
could provide a good return and should offer stable capital growth. Many of the
landlords we met at the first buy to let evening are still with us now and have
seen their investments grow. The market is a very different place but there are
still good returns to be had in Melton Mowbray.
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