BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Chichester, £199,950, 5.1% yield

This has become the cheapest two bed house available to buy in Chichester, priced at just £199,950.

It may be on Charles Avenue, often seen as a less desirable part of Chichester....but it's still Chichester!

For several months I've been suggesting two bed houses could be a shrewd investment as a lack of supply clashes with strong demand. This is starting to show itself as median rents on two bed houses in Chichester have crept up to £925pcm whilst the median rent for two bed flats has stalled at £850pcm.

The property suffers from being a little on the small side, but the addition of a conservatory provides good living space downstairs. Meanwhile, upstairs, the two bedrooms represent a decent double room and an adequate single for a starter home. It is ready to rent out, with a modern kitchen and bathroom, neutral decor, double glazing and gas central heating.

£850pcm should be achievable, which would make it the joint-cheapest two bed house currently available to rent in Chichester, which seems right seeing as it's the cheapest one to buy. This would provide an excellent 5.1% yield from a ready-to-rent freehold property, which has already been reduced in price by £10,000. 

Full details can be found on Rightmove via the following link:
http://www.rightmove.co.uk/property-for-sale/property-49532911.html

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If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.

E-mail me on clive@crjlettings.co.uk or call 01243 624 599.

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