Monday 3 July 2017

BUY-TO-LET DEAL OF THE WEEK: 2 bedroom house in Chichester, £259,950, 4.4% yield

2 Bed terraced house, Waterside Drive, Chichester
2 bedroom house in Chichester
Listed for sale on 26/06/17 @ £259,950
Rent = £950pcm
Last sold for £215,000 in February 2015 (+21% in 2.5 years)
Yield = 4.4%
This week's Chichester buy-to-let deal of the week is an interesting one; because it was one of my previous buy-to-let deals of the week! That was about two and a half years ago, when it was listed for £219,950. I know the people who bought the house back then, for £215,000, and made a very nice home for themselves (my buy-to-let deals of the week can work just as well for owner-occupiers, not just landlords!).

At the time I mentioned the good size rooms, excellent location and great condition the house was in. All those points remain, with the house having two double bedrooms, a modern kitchen, conservatory, gas central heating, double glazing and two allocated parking spaces. An added bonus is that the bathroom has had a complete refurbishment.

This makes it a ready-to-go rental property that you could purchase and let out straight away, without having to undertake any work. Two bedroom houses are still in relatively short supply on the rental market and, such is the great presentation of this property, I think it should command a good rental figure for a two bedroom house in the area; of approximately £950pcm.

It's interesting to note that two and a half years ago I suggested a rental figure of £850pcm, meaning the rent I'm now suggesting has increased by nearly 12%. Even more interesting is that the asking price of the property is now £259,950, which is 21% more than was paid in February 2015. This shows that house prices have increased more than rents in Chichester; at least for this property. That 21% increase is also above the average increase seen across Chichester, which shows it was a very decent pick of mine when I last suggested it (yes I do feel a little smug).

Based on what is currently available on the market I still believe even at this price it would make a great buy-to-let property for a landlord who is looking for something relatively easy to let out and due to it being relatively modern throughout it should do so without the prospect of too many maintenance bills.

It is on the market with Bell & Blake and full details can be found on Rightmove via the following link:


If you are looking for an agent that is well-establishedprofessional 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 or call 01243 624 599.

Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles:

c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP


Rental valuation

No comments:

Post a Comment