South West Property Values
Property prices in the south-west are a little above the national average. The average house costing £258,372, a little above the national average of around £249,000. It is thought by the majority in the property industry that the south-west could deliver a very acceptable profit over the next few years as south-west property prices could rise 13.1% over the next five years compared to just 4% in London.
Rent rises aren’t good news for tenants, but they for landlords they mean more income each month. According to the Property Reporter rent rises in the south-west of England were faster than anywhere else in England and Wales during a period last year. They say rents rose 4% and that landlords earned an average of £703 a month from each property.
This report from Which? says that while London remains subdued buy to let in the south-west is booming. Which? say that while the north-east is good for yields the south-west could be a better all-round investment for property investors.
Higher than average property prices means yields can be tight in some parts of the south-west. Totally Money figures suggest they are in the region of 3% to 6%, although much more should be possible from a student let or holiday let.