A landlord I know has owned a property on Woodside Terrace for the last 22 years and we’ve been managing the property for the past 4 years. She came in to our office to discuss the rise and fall of property prices on the street and how this has affected her yield over the years.
In 1996, she purchased the property on Woodside Terrace for just £28,500. The average value of for a house on the street was £30,320.
Fast forwarding a few years…. between 2010 and 2012 sales on the street recorded an average price of £114,750 – an increase of 402% within 16 years. The rental yield at this time on Woodside Avenue was 4.92% (an average of £470pcm).
Between 2013 and 2015 the average rental yield had increased to 6.30% (£544pcm).
Between 2015 and 2018 the average value of the sold prices on the street was £127,300. The rental yield has risen again during this period to a very respectable average of 6.50% (£690pcm).
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