Rents perform well around Bourne Road, Bexley

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A landlord, who has owned a few properties on and around Bourne Road for the last 15 years or so, 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 1999, when she purchased her first property near Bourne Road, the average value of a terraced house on the street was £92,900 which had a sharp rise to £177,500 by 2005. This rise in value continued, with average values being £244,900 in 2007, which some would regard as the height of the property boom.

Currently the average value of a terraced property on Bourne Road is around £284,400 which shows good recovery from the property market dip, post 2007.

When she told me of the rents she had achieved on her properties, they seem to be performing well over the last decade. In 2004 the average rent was £775 per month and is now between £1,150 and £1,300, dependant on the property’s accommodation. Therefore, a landlord could expect an annual yield of around 5.5% on Bourne Road at the moment.

If you would like some advice with your potential investment, please call, email or come and see us in our offices.

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