BUY-TO-LET DEAL OF THE WEEK: 2 bed house in Chichester, £200,000, 5.3% yield
Summary: 2 bed house in Chichester Listed for sale on 22/12/16 @ £200,000 Rent = £875pcm Yield = 5.3%
OK, so this is in fact the cheapest two bedroom house in Chichester - for sale at £200,000. It is, however, an auction property and as such that price is likely to be eclipsed by the eventual winning bidder (if I had to make a guess on the eventual price the gavel with go down on I'd go with £225,000-£230,000).
The attractive 5.3% yield therefore is not likely to be accurate as it's based on getting the property for £200,000 and renting it for £875pcm. There's also no internal pictures so I've no idea what condition the property is like inside - it may or may not require refurbishment.
One thing I do like about the house is it's proximity to the Oving Road. That may be an odd thing to say, but when you consider the Oving crossroads are due to close (although there is another last minute chance of this not happening) then suddenly the traffic will be far lighter - and it's current close proximity to a busy road that is stifling its current value will be less of a negative.
A little local knowledge of things like that can prove the difference between a good and a poor investment - another reason to keep reading the Chichester Property News to stay abreast of developments to Chichester's property market.
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.
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