Last Updated: 08/02/2018
Why a Buy to Let property in Basildon is a sound investment
Located just over 30 miles from central London, Basildon is ideally situated for people looking to commute and who want to be removed from the hustle and bustle of London life. Basildon is one of the new towns that emerged after the Second World War but it is an area that has continued to thrive and prosper since then and in the present day, it presents an attractive proposition for people looking to enter the buy to let market. Strong transport links to the capital and a close proximity to notable towns and areas means that there is a great deal on offer in Basildon and beyond for any young professional or family.
One of the strongest reasons you will have for investing in a buy to let property in Basildon is the fact that the rental yield looks very attractive. In the current climate, anything of a high 4% or above is enough for many property investors to appreciate what they have but if you look at the rental yields for a number of areas in Basildon, you will find that the rental yield is above this level.
The rental yield opportunities in Basildon are strong
This is definitely the case for 1 bedroom properties with the rental yield for the SS13 postcode standing at 6.97%, for the SS14 postcode standing at 6.34% and the rental yield for the SS15 postcode standing at 6.63%. The rental yields for 2 bedroom properties are just as attractive. For SS13 postcodes, the rental yield stands at 6.45%, for the SS14 postcode it stands at 6.76% and for the SS15 postcode, the rental yield stands at 5.98%. Three bedroom properties in all three postcode areas stand at over 5%, so if you are looking to buy property in an area where there seems to be a good return on your investment, Basildon is a strong option.
Another reason for buying to let in Basildon comes with the fact that property prices in the area are still rising. This isn’t 100% perfect because it means that buying now, as opposed to having bought last year, is more expensive but in the grand scheme of things, rising property prices are a positive factor for people looking to benefit from the buy to let market. Between September 2014 and September 2015, overall property selling prices in Basildon rose by 9%, from £209,887 to £229,578. The two properties that rose by most were flats and terraced properties, which correlates with the high level of rental yield in the local area. Yes these properties are becoming more expensive but the level of demand associated with these properties means that there will be a steady stream of potential tenants.
Given that there is a large level of demand for rental property in Basildon, it makes sense to work with the experts in order to find the best candidate. If you are interested in renting quickly, you’ll have no shortage of candidates but in order to maximise your return on investment and to minimise hassle or damage to your property, working with an agent to find the most suitable tenants for your property makes sense.
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