Becoming ever more curious about the Warrington Buy to Let market (Great Sankey in particular) after reading our articles about various areas of Warrington, a landlord decided to pop in and ask our advice.
I found that a small 3 bedroom town house on Payne Close was bought for £43,500 in 2002.
The same property sold for £120,000 in March this year, which is a rise of 175%.
However, prices in the town during this same time period have roughly doubled so it should have sold for £87,470 if it kept up with the town’s average house price.
A four bedroom detached house on Wharfedale Close sold for £76,000 in the summer of 1996, and was sold again this March for £235,000.
This is a rather impressive rise of 209%, but as I mentioned in my property blog a few weeks ago, average prices in this time have risen by a much more remarkable 103% in Warrington.
With rents for detached houses in the area achieving between £800 and £900 per month, yields are around 5-6%. I think in terms of a rental investment, there are better properties, such as smaller two or three bedroom semis, but for owner occupation there are some bargains.
My passion lies firmly within investment properties – especially in Warrington!
For more thoughts on the Warrington Property Market – visit the Warrington Property Market Blog. www.warringtonpropertyblog.co.uk
As always, if you are an investor in the Warrington property market and would like a second opinion on a property you have seen, then send the URL of the properties you have seen online over to me.
Or if you would like to pop in and have a chat, then you can either email me on manoj@hamletwarrington.co.uk or call on 01925 235 338. Our address is 6 Bankside, Crosfield Street (opposite Iceland and Aldi – so plenty of parking available). The kettle is always on and we will even pull out the posh biscuits!
Manoj Patel www.hamlethomeswarrington.co.uk
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