Three bedroom leasehold flat in Tulse Hill. You may think “nah,
too far away from the tube;” but think again! A property further from the tube
represents good value as a purchase and potentially offers better uplift in
value due to people looking slightly further out (affordability reasons). I
predict that this property will rise in value more than one next to a tube, as
a property like this (three relatively equal sized bedrooms) is in constant
demand on the rental market making. It would be a great long-term investment
because although it’s not currently in a sought after location, anything within
2 or 3 bus stops from the tube or train from a currently “desirable” area (on
top of a tube) will soon become the same.
This particular property is on the market for £320,000 and with
a predicted rental income of £380pw it represents a yield of 6.2%. A great yield and a great chance of capital gain over the long term.
For full property details click here:
Lambeth has seen nearly 20% average price growth last year in
the North of the borough. When prices for typical first time buyer flats
get up to around 12 or 13 times average annual income many people can no longer
afford them so start to look further afield. We recently sold 2 flats in
Medora Road, slightly further out, to 2 such buyers.
We constantly have a steady flow of professional tenants who’s
budget does not allow for them to be in their desired location (next to a tube
station) but they still need to be within a commutable distance for work so
have to take the next best thing, The bus links to Brixton from here are
excellent, and the nearby Sainsbury’s, pubs, cafes, restaurants and close
proximity of Brockwell park mean there’s plenty close by to keep you
busy. Commuting is easy too with Tulse Hill station whisking you to
Farringdon in 15 minutes and round to King’s Cross in another 5; London Bridge
is even closer.
A prime example of neighbouring areas having a positive effect
on others is Stoke Newington as it has become exceptionally popular in recent
times due to the likes of Islington and Shoreditch, all without the benefit of
tube links. Other areas especially in south London are set to follow suit
over the coming years.
In summary a good long-term buy. The only way is up, and if it
were my money I’d take a punt on something a bit further away. You may find
better gains than something closer to a station.
If you are looking for any advice regarding lettings or
acquisitions do get in touch on the phone 020 3397 2099 or pop in to our
Clapham Office for an informal chat.
Elishah Anderson
Assistant Lettings Manager
XanderMatthew
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