With the lettings market still very much active one of our landlords asked where they should buy a three bedroom semi detached/terraced house in Crawley? They are looking in Maidenbower and Bewbush and wanted to know what has the most demand.
The first question I asked them was what was are they looking for from the investment - capital growth in the property or a great yield? Answering this question will help you figure out which properties you should buy...
The average asking price of a three bedroom house in Maidenbower is £363,566 today compared to £298,785 for a three bedroom in Bewbush. The three bed in Maidenbower achieves an average rental price of £1300 per month compared to £1200 per month for the Bewbush property.
That’s a yield of 4.8% for the Bewbush three bed against 4.3% for Maidenbower three bed. So surely, the Bewbush is the better bet? Well it does offer a better rate of return, but the 3 bed in Maidenbower will be easier to rent out (less void periods) and will be easier to sell in the future.
Don’t discount Bewbush as an area for rental as it is a popular family area and can be more affordable, even though they rent for slightly less they will always rent out long term and to good tenants. To answer the original question, at the current time of writing demand is high for both areas.
If you would like more information please contact me.