Rents remain stable on Kitchener Street, York, YO31

A landlord I know has owned a few properties on Kitchener Street for the last thirteen years. She came in to our office to discuss the rise and fall of property prices on the street and how this has affected her yield over the years.

houses increase

In 1999, when she purchased her first property on Kitchener Street, the average value of a terraced house on the street was £42,075 which had a sharp rise to £86,925 by 2002. This rise in value continued, with average values being £114,250 in 2004 and £129,500 in 2006.

At the height of the property boom in this area, a terraced house on Kitchener Street had an average value of £144,950. This soon dropped in 2009 to £113,800, with the average value increasing to around £157,500 this year.

house on grass

When she told me of the rents she had achieved on the street, they seem fairly stable over the ten years. In 2007-2008 the average rent was £600 per month and is now between £725 and £675, dependant on the property’s accommodation. Therefore, a landlord could expect a respectable annual yield of around 5.52% on Rose Street at the moment.

If you would like some advice with your potential investment, please do give me a call on 07775 828759.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s