Last week, a landlord who lives near Seafield Park in Stubbington, came in to our office to discuss the rising property values in the Gosport peninsula area. He owns a varied portfolio of rental properties, primarily in Lee on the Solent and Gosport with one in Stubbington, so it is interesting to compare the increase in property values around the area.
Over the last 12 months in Lee on the Solent average property values have risen from £254,700 to £271,200 , a rise of £16,500 or £317per week. When I looked at some of the surrounding areas, Gosport has had a slightly lower than average increase in property values, at around £176 per week, whilst Stubbington has had a slightly higher rise of an average increase of around £321 per week.
However, when one looks at the percentages, Lee on the Solent has performed the best rising by 6.4% in the last 12 months, compared to Stubbington’s 5.9% and Gosport’s 5.4%! It is, nonetheless, a rise in all the town’s average property values which suggests the market is recovering steadily in our area, but especially Lee on the Solent– good news for home owners and landlords alike.
When considering this landlord’s buy to let portfolio, yields can be in the order of an average 5% to 6% per year, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and it could be a good time to invest in the property market in Lee on the Solent as property values start to rise.
If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market, please come and see me at our office on High Street, Lee on the Solent or email me atmark@rowepropertyservices.co.uk or call on 023 9255 0055.