Stability on Putnoe Street

A landlord I know has owned a property on Putnoe Street for the last thirteen 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 2009, when she purchased her first property on Putnoe Street, the average value of on the street was £177,000 which had a rise to £190,000 by 2012. This rise in value continued, with average values being £212,000 in 2013.

At the height of the property boom in this area, a house on Putnoe Street had an average value of £242,000. This soon dropped in 2009 to £177,000, with the average value increasing to around £233,000 this year.

When she told me of the rents she had achieved on the street, they seem fairly stable over the thirteen years. In 2002-2003 the average rent was £750 per month and is now between £850 and £875, for an average 3 Bed Semi. Therefore, a landlord could expect a respectable annual yield of around 4.5% on Putnoe Street at the moment.

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