Whilst having an investment conversation with a Bournemouth landlord last week he asked me a question about how his properties were performing against the average in the area. So below was the research graph I showed him:
This graph showed her that his 1 bedroom property on the Talbot Woods / Winton border was outperforming the average 1 bedroom in the area by some distance. It was renting for £695.00pcm in 2015 (market average at £585.00pcm) and has just renewed at £725.00pcm at the end of 2016. A statistic that he is very happy with, as this shows it is out-performing the market average by over £100 per month now and shows an increase of 4% (as opposed to the market average of only 2%)
Just as I finished this conversation another client called, with a maintenance issue. Once we dealt with the details of that and arranging a contractor to fix it, I informed them of the previous conversation I had just had and he asked how his 3 bedroom house in Winton was performing against the average. The graph shows the average 3 bedroom property in Bournemouth rents for £1009.00pcm (on average from Oct ‘15 – Sept ‘16) whereas his 3 bedroom house in Winton was renting for £1395.00pcm. His property is a 3 bedroom 2 reception room detached house wit stunning rear garden and garage, so was always going to be out-performing the average but it is always lovely for a landlord to see the choices they made, the property we let for them is doing so well.
Please do use this graph above to judge your property against the market average, and if you want a 2nd eye to look it over or want a true market valuation with supporting evidence report then please do give me a call or email me and I’d happily take a look for you.
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