This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.theguardian.com/money/2015/oct/09/landlords-profit-most-from-east-of-england-properties-survey-shows
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
| Version 0 | Version 1 |
|---|---|
| Landlords profit most from east of England properties, survey shows | Landlords profit most from east of England properties, survey shows |
| (35 minutes later) | |
| Rising house prices and rents have given landlords in the east of England the best returns from property outside London, according to a new survey. | Rising house prices and rents have given landlords in the east of England the best returns from property outside London, according to a new survey. |
| Towns in Essex and Hertfordshire have dominated a list of those providing the highest combination of rental income and potential capital growth in the last year, with the top three all bringing returns of more than 25%. | Towns in Essex and Hertfordshire have dominated a list of those providing the highest combination of rental income and potential capital growth in the last year, with the top three all bringing returns of more than 25%. |
| Related: Land Registry figures show house prices continuing to rise | Related: Land Registry figures show house prices continuing to rise |
| At the top of a list of investor hotspots compiled by the property website Rightmove is Halstead in Essex, where the average asking price for a property increased from £150,078 in the summer of 2014 to £181,695 a year later. Over the same period, the average rent collected would have been £7,837, giving a landlord who bought at the original price a 26.3% return on their investment. | At the top of a list of investor hotspots compiled by the property website Rightmove is Halstead in Essex, where the average asking price for a property increased from £150,078 in the summer of 2014 to £181,695 a year later. Over the same period, the average rent collected would have been £7,837, giving a landlord who bought at the original price a 26.3% return on their investment. |
| Borehamwood in Hertfordshire came second, providing £13,691 in rent and an increase in asking prices of £56,308 from an original property value of £267,692. | Borehamwood in Hertfordshire came second, providing £13,691 in rent and an increase in asking prices of £56,308 from an original property value of £267,692. |
| The figures – which do not take into account tax or any other costs related to offering a buy-to-let property – are based on properties listed for sale and rent across England and Wales. Rightmove said average rents had increased by 4.5% outside Greater London between the third quarter of 2014 and the third quarter of 2015, while in the capital they were up by 3%. However, in the east of England the jump was 6.4%. | The figures – which do not take into account tax or any other costs related to offering a buy-to-let property – are based on properties listed for sale and rent across England and Wales. Rightmove said average rents had increased by 4.5% outside Greater London between the third quarter of 2014 and the third quarter of 2015, while in the capital they were up by 3%. However, in the east of England the jump was 6.4%. |
| Related: Homebuyers pay less than renters in a third of UK towns and cities | |
| Among the top 10 for investors, the only northern town to appear was Cottingham in East Yorkshire, where asking prices increased from £124,216 to £150,211 and rental income added up to £5,936. | Among the top 10 for investors, the only northern town to appear was Cottingham in East Yorkshire, where asking prices increased from £124,216 to £150,211 and rental income added up to £5,936. |
| Rightmove said six of the areas on the list have asking prices below the national average, meaning they were still affordable to investors. Rents are cheaper than in London and other parts of the south-east, so demand from priced-out tenants is high. | Rightmove said six of the areas on the list have asking prices below the national average, meaning they were still affordable to investors. Rents are cheaper than in London and other parts of the south-east, so demand from priced-out tenants is high. |
| Kevin Mixture, an associate partner of Scott Maddison estate agents in Halstead, said there had been an increase in investors buying in the area as prices were a little lower than in nearby Braintree. “The demand is extremely high and tenants are renting most properties within just a few days,” he said. | Kevin Mixture, an associate partner of Scott Maddison estate agents in Halstead, said there had been an increase in investors buying in the area as prices were a little lower than in nearby Braintree. “The demand is extremely high and tenants are renting most properties within just a few days,” he said. |
| Top 10 property investor hotspots | Top 10 property investor hotspots |
| Halstead, Essex: 26.3% return | Halstead, Essex: 26.3% return |
| Borehamwood, Herts: 26.1% return | Borehamwood, Herts: 26.1% return |
| Brentwood Essex: 25.9% return | Brentwood Essex: 25.9% return |
| Cottingham, Yorks: 25.7% | Cottingham, Yorks: 25.7% |
| Purfleet, Essex: 25.1% | Purfleet, Essex: 25.1% |
| Stevenage, Herts: 23.8% | Stevenage, Herts: 23.8% |
| Bushey, Herts: 23.7% | Bushey, Herts: 23.7% |
| Henley-on-Thames, Oxon: 23.4% | Henley-on-Thames, Oxon: 23.4% |
| Chatteris, Cambs: 23.2% | Chatteris, Cambs: 23.2% |
| Grays, Essex: 22.9% | Grays, Essex: 22.9% |
Previous version
1
Next version