Swindon is the ideal location for investors.
There are many good reasons for investing in Swindon, but perhaps the most compelling one of all is that property prices are significantly cheaper than anywhere else in the South West and along the M4 corridor. That is certainly the reason why more and more buy-to-let investors are choosing Swindon where rental yields can be significantly higher than in neighbouring locations like Oxford, Reading or Bath.
Not only is it far cheaper to buy property in Swindon, but employment levels and average salaries are also high compared to the UK average. That means there are lots of good quality tenants looking for somewhere to live.
For as little as £120,000, you will find lots of 2-bedroom flats in Swindon, which are very popular among first-time renters. A quick search of properties at the same price in Oxford gets you a park home. Basically, a caravan. Or a 50% shared ownership of a two-bedroom apartment.
In Swindon, £160,000 will buy you anything from a 2-bed penthouse apartment to a 3-bed character cottage, a nearly new 2-bedroom coach house, or a 3-bed doer-upper. The same price in Reading gets you a one-bedroom maisonette or a retirement property on the edge of town.
As another example, £190,000 gets you a small one-bedroom flat off the busy London Road in Bath. For £5,000 more in Swindon, you can buy a three-bedroom end terrace house in the popular Rodbourne neighbourhood, located right next to the Designer Outlet and an easy walk to the railway station.
As people realise how easy it is to commute to London or westwards by train and as prices along the M4 corridor rise to increasingly inaccessible levels, more and more people will turn to Swindon as a viable alternative.
At Home Finders we are seeing increasing numbers of buy-to-let investors who might previously have concentrated their searches on places like Bristol and Bath. They realise that Swindon property prices are significantly lower than neighbouring cities and rental yields much higher.
If you would like to find out which type of lettings properties are most in demand in Swindon and the surrounding area, please get in touch. Equally, if you are an existing landlord who has a property to let or would like a property MOT (where we can look at the market value, opportunities, property investment, check for property and tenancy compliance, etc.) we are here to help.
- If you have any questions related to lettings or property management please call us on 01793 299135. We love to talk.