With many more people now looking to invest in the Buy to Let market we are often asked where is a good place to purchase their first investment property locally. This question arose recently when a new client came into our offices. The client was looking at Hoddesdon as an area to invest and wanted some advice.
Looking at the local market as a whole, Parrotts Field in Hoddesdon is a great first time purchase for Buy to Let, the properties always rent well in this location and the purchase prices are very good value for money with Studio apartments having been selling for between £103,000 to £115,000 over the last 12 months. Couple that with a rental income of between £525 and £600 per calendar month and you will get a good return.
The properties themselves are generally well built but most importantly of all is the location. Positioned within a stones throw of the Town Centre with its new Morrisons supermarket and easy walking distance to the Main line station Parrotts Field makes an ideal place for tenants looking to rent.
Having delved a little deeper into the statistics of this area it also became apparent that the capital growth has not been bad either with property sold prices increasing by an average of 5% over the last 2 years.
"Your local lettings experts, our advice is free but our knowledge is priceless"
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”
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