I regularly get asked by investors and people moving into the area, where is the best place to buy for investment in South Somerset. One way to look at this is to compare the Yeovil, Martock, Crewkerne, South Petherton and Ilminster property markets to see which town’s property market would give an investor the best return on their investment.
I decided to look at two bedroom terraced houses because this is the most popular rental property across South Somerset – this two up two down property investment strategy has been a strategy that has lasted the test of time. Providing you purchase at the right price and do your due diligence (or ask us to do it for you) you cannot go far wrong.
The average two bedroom terrace house in Yeovil is £153,755, with an average rent of £631, giving you a good yield of 4.9%
Let’s look at Martock. The average two bedroom terraced house Martock is £164,250 with an average rent of £792, giving us an even stronger Yield of 5.78%
In Crewkerne the average terraced house price is £145,750 and the average rent in Crewkerne is £590 giving investors an average Yield of 4.85% average for the whole of South Somerset
How does South Petherton compare? As one of the most expensive locations in South Somerset South Petherton’s average terrace house price is £252.500, however the average rental is £1303 giving a Yield of 6.19%
How does Ilminster compare in this market? Well with the average house price for a terraced property being £184,500 prices are still quite strong in Ilminster. The average rent is £785, returning a Yield of 5.1%. one of the strongest in South Somerset.
It goes to show that the whole of South Somerset is a good and safe place to invest in property. As always, this is a decision that you should not take lightly – all towns have their merits. These are only averages, so if you buy wisely and are in a position to move quickly, you could pick up a property producing Yields in excess of the averages in any town.
As I always say the trick is knowing What and Where to buy – or even more important, what NOT to buy.
You can always keep an eye on my blog for any properties I feel will make a good buy to let opportunity, or if you are after a second opinion them email over the property details, give me a call or pop into the office for a chat, maybe even find out how we can get the best out of your investment property.
Email me on firstname.lastname@example.org or call 01935 277977. If you are in the area feel free to pop into 17 North Street Workshops, Stoke Sub Hamdon, TA14 6QR. There is plenty of free parking and the kettle is always on.
Don’t forget to visit your local property blog or www.orchardsestates.com