Following on from our look at the Rightmove.co.uk information on RH10 we are now reviewing their property information for RH11 for the same period. RH11 is a desirable investment area for property investors. Located in the Crawley area, RH11 has seen a steady growth in the property market in recent years. In this article, we will look at the latest market activity in the area based on the data from March 2023.
Property Prices in RH11
According to Rightmove, the average house prices in RH11 for properties added to the website between 1st March and 31st March 2023 were as follows:
1 bedroom - £228,841
2 bedroom - £360,441
3 bedroom - £385,889
4 bedroom - £480,112
5 bedroom - £656,006
The average flat prices in RH11 for the same period were:
1 bedroom - £180,373
2 bedroom - £230,888
3 bedroom - £275,256
It's worth noting that these prices are averages and can vary depending on the location, condition, and size of the property.
Property Rents in RH11
For rental properties in RH11 added to Rightmove between 1st March and 31st March 2023, the average rents were:
1 bedroom - £841
2 bedroom - £1,308
3 bedroom - £1,642
4 bedroom - £1,916
For flats, the average rents were:
1 bedroom - £982
2 bedroom - £1,295
3 bedroom - £1,400
The rental yields in RH11, based on the above data, were 4.97%. This yield represents the average return on investment a landlord can expect to receive from rental income, expressed as a percentage of the property value. This yield is relatively healthy and is likely to attract investors seeking to invest in the area.
Property Supply in RH11
During March 2023, 43 new properties were added to Rightmove for lettings in RH11, comprising of 18 flats and 25 houses. In addition, 110 new properties were added for sale, comprising of 21 flats and 89 houses. The above data shows that the rental market in RH11 is relatively stable, with a reasonable supply of properties available for lettings however this is still considerably lower than previous months. The sales market is also active, with a higher number of houses being put up for sale compared to flats.
RH11 remains a popular investment area for property investors, with a steady growth in the market. The data from March 2023 shows that property prices, rental yields, and supply in the area are all relatively healthy, making it an attractive location for property investors seeking to expand their portfolio. However, as with any investment, it is important to conduct thorough research and seek professional advice before making any investment decisions.
If you have seen a property you think would make a good investment and want some impartial advice, Call Ben on 01293552388