The recent fall in property prices is a boon for property investors; the fall in house prices has re-opened the door for investment. And a burgeoning rental market means there are great yields to be achieved. But what can you expect to pay for repossessed properties in London this spring?
Examples of repossessed properties currently on the London market include:
- A two-bed apartment in Camberwell at £161,500; a 15% discount off the market price of £190,000. Rental Value is £1,040pcm, representing a gross yield of 7.7%
- A three-bed house in Romford (Chadwell Heath) within easy reach of Goodmayes Station on the market to investors at £229,500; a reduction on market price of 15%. Rental value is £1,250pcm, that is a gross yield of 6.5%
- A one-bed apartment in the City of London and on the River Thames. Both Mansion House and Cannon Street tube stations within easy walking distance. Investor price is £297,500; 15% BMV, giving instant equity of £52,500 with rental value of £400pw