Last Friday a Landlord called me to say that she loved the article in the paper but it wasn’t clear who had written it so I have tried to redress that this week. All articles are on my blog so please go to macweymouth.blogspot.co.uk if you are interested.
In this column it is my intention to discuss property issues in the Weymouth, Dorchester and Portland areas on a weekly basis that I believe will be of interest to investors, landlords and house purchasers.
Today I am going to look at buying two different types of semi detached property in two different areas in Weymouth, the first area is around Corporation Road just off Abbotsbury Road and the second on the other side specifically Knightsdale Road. Both roads are popular with tenants and a house on Corporation will let for £775 to £800 and Knightsdale £825 to £850.
An important part of any property investment is balancing the capital growth with the rental income so looking at our two examples our ex local authority house in Corporation Road will return 5.5% on a purchase price of £175k whereas our property in Knightsdale Road costing £210k will return 4.5% nearly 20% less.
Capital growth wise, over the last 14 years both houses have risen in price by around £145 per week. The sensible money would therefore appear to be on a property in Corporation Road or in its immediate vicinity.
If you have a particular property in mind please come and see me to discuss your investment!
Philip Wakefield Martin and Co