Another interesting aspect to consider when looking to invest in an area for the buy to let market is the average rent. For the W8 postcode area, the average rent per calendar month comes in at £5,274. This can be broken down into property sizes, which should provide a more accurate guide of what you can expect. A one bedroom property in W8 provides a monthly rent of £2,577 while the average rent per month for a two bedroom property is £4,018. A three bedroom property in W8 carries an average monthly rent of £7,558 and four bedroom properties carry a monthly rent of £11,884. Unsurprisingly, five bedroom properties carry the largest monthly rent in the W8 postcode area, coming in at an average of £19,870 per calendar month.
You should also be looking to consider the expected rental yield for property in the W8 postcode area. A one bedroom property in W8 offers an expected rental yield of 3.65% while a two bedroom property provides an expected rental yield of 3.22%. For a three, four and five bedroom property in W8, the returns are 2.96%, 2.83% and 2.18% respectively.
While the expected returns in Holland Park are not as high as other parts of the capital, there are many factors to consider when investing in property. It may be the type of tenant you will find in W8 is much more appealing to your needs and there is a lot of kudos to be found in owning property in this prestigious part of London.
If you have a desire to invest in the Holland Park market, you will need to calculate your finances and be confident that you are doing the right thing. However, there are many reasons why investing in Holland Park can provide people with the return they are looking for. If you’d like to learn more about investing in Holland Park, contact Nathan Andrew Estates.