Sittingbourne vs Faversham Property Market : Which is the best?
A landlord with a small property portfolio came into our office last week. He lives between Faversham and Sittingbourne and has buy-to-let properties in both towns.
He wanted to ask our opinion on where he should his next Buy to Let property.
We thought we would share the current facts and figures with you, they make for an interesting read:
In Faversham , the average property price is £324,436 and the average rent is £949 per month.
In Sittingbourne , the average property price is £263,927 and the average rent is £1214 per month.
The annual yield in Faversham is 3.5% per year, compared to Sittingbourne , where he could achieve an annual yield of nearer 5.5%.
Yet yield is not the only way to earn from your buy-to-let investment.
You can also earn money from the growth in value of your buy-to let property.
Property Values in Faversham have risen by 29.5% in the last 5 years, whilst in Sittingbourne , they have risen by 23.4% over the same period.
It really comes down to what is more important, capital growth or yield?
It must not be forgotten these are only averages, so the yields for some small to medium sized properties in popular areas of Sittingbourne can achieve yields can be even higher, in the order of 5.5% to 7.5% per year.
Sittingbourne vs Faversham Property Market : Which is the best? And how to find a good investment?
If you want to know our thoughts on the best places to invest your money in the Sittingbourne or Faversham property market, drop us a message on social media, ping me an email or ring me on 01795 474848
Harrisons pride themselves on getting the best price in the shortest time possible. We have helped thousands of families move home in the Sittingbourne area over the past 35 years. If you are concerned your listing price may be putting off putting an offer on your home or you would like to know more about how we can help to get you moving contact us today 01795 474848.