When purchasing a buy to let
property, there are two
ways landlords make money through property letting - capital growth and rental
income growth.
A landlord from Hertford Heath, who has a number of properties in both Hertford
and Ware, asked a few weeks ago about the difference between the Hertford and Ware
housing markets. He was focused on capital growth but also wanted to ensure his
yield was relatively fair. We were quite
surprised with the findings and wanted to share them with you.
The average property price in Hertford is currently £487,200. In the last
3 months property values in Hertford have dropped by just over 1.7%. Whilst in Ware,
average property prices are £446,100, having dropped by just 0.5% in the last 3
months. Therefore, is Ware the better bet?
Well, not necessarily.
Over the last 5 years, property values in Ware have risen by over 27% and
in Hertford by over 34%, meaning over the last 5 years, property values have
increased at a 26% quicker rate in Hertford compared to Ware. But then there is
question of yield, as Ware normally has slightly higher yields than Hertford.
Each Hertford and Ware landlord will have
different needs and requirements in his or her property investment. If you want
an unbiased opinion on what or what doesn't make a good property investment.
Knowing what has happened to values in different towns, enables us to spot any
trends or opportunities for buy to let landlords. My thoughts on the local Property rental market can always be found on my blog but if you would like some specific advice please feel free to pop into our High Street office in Stanstead Abbotts or give us a call.
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”
