News Crawley, Worthing and Horsham Property Values and Prices: An update
Published by Ben on 1st November, 2017
If you are looking to make a move in the property market, or you are just curious about local prices and values, there is a great deal to be said for being fully informed. At Taylor Robinson, we are on hand to keep youup to date with various local property markets and when you want to know the latest property values and prices for Crawley, Worthing and Horsham, we have the October 2017 figures for you.
Crawley has a lot to offer
In Crawley, the average value of property stands at £326,514 while the in the past 12 months, the average price paid for property is £322,180. In the past six months, the average price paid for property rises to £327,726 and in the past three months, the average price paid for property in Crawley rises to £334,241. While this may be seen as a sign that property prices are on the rise, it is best to be cautious when considering figures over a short period of time. However, there is a sense of optimism surrounding the Crawley property market which is positive news for many property owners.
With respect to the rental market, the average rent per calendar month in Crawley stands at £997 while the average rent for a one bedroom property stands at £808. A two bedroom property carries an average rent of £1,031 and a three bedroom property offers an average rental price of £1,285 per calendar month.
If you are considering investing in the Crawley buy to let market, it is important to review the expected rental yields. In the RH10 area, a one bedroom property offers a 5.98% expected yield, there is an expected yield of 5.49% for a two bedroom property and a three bedroom property offers a yield of 5.25%. For a four and five bedroom property in RH10, you can expect a yield of 4.54% and 5.63% respectively.
There are also positive yields to be enjoyed in the RH11 postcode area with the 6.35% return for a one bedroom property being the best figure. A two bedroom property provides a return of 5.96% and there is a 5.34% return on offer from a three bedroom property. You can expect a 4.91% return from a four bedroom property while a five bedroom property provides a return of 3.91%.
Worthing is more affordable than Crawley
The average value of property in Worthing is around the same as Crawley, coming in at £321,139 but the average price paid for Worthing property in the past 12 months comes in at £302,922; a figure around £20,000 lower than the Crawley figure. Like Crawley, the average price paid for property in Worthing has been rising of late, with the average price paid inthe past six months standing at £318,461 and the average price paid for Worthing property in the past three months stands at £332,051.
With respect to rent, the average rent in Worthing is £923per calendar month, a figure around £75 less than the Crawley average. A one bedroom property in Worthing has the average rent of £710 per month while two bedroom properties have an average rent of £943 per calendar month. You’ll find that a three bedroom property in Worthing carries an average rent of £1,139 and for a four bedroom property, the average rent is £1,518.
For the Worthing buy to let market, BN11 is a suitable postcode to consider and a one bedroom property provides an expected rental yield of 6.17%. A two bedroom property offers a return of 5.36%, a three bedroom property offers a return of 4.15% and for a four bedroom property, you can expect a return of 3.58%. With a five bedroom property in BN11, the expected return is 4.1%.
You’ll pay more for property in Horsham
Horsham is also an area that is worth reviewing, although itis more expensive than Crawley or Worthing. The average value of property in Horsham stands at £443,581 while in the past 12 months, the average price paid for Horsham property stands at £403,843. In the past six and three months, the average price paid for Horsham property stands at £415,503 and £435,790 respectively.
In line with the higher price of property, rents in Horsham are also higher, with the average rent per calendar month coming in at £1,122. A one bedroom property carries an average monthly rent of £802, a two bedroom property carries an average rent of £1,000 and the average rent for a three bedroom property is £1,344. The average rent for four and five bedroom properties are £1,912 and £2,002 respectively, although there are a small number of these properties, which means that you should be cautious considering this to be the true average.
In the RH12 postcode area, there is a 5.67% expected yield from a one bedroom property, a 4.81% yield from a two bedroom property and a three bedroom property offers a return of 2.9%. There is an expected rental yield of 3.43% for a four bedroom property in RH12 and for a five bedroom property, you can look forward to a 3.01% return.
For RH13, a one bedroom property offers a return of 4.16%, a two bedroom property provides an expected rental yield of 5.75% and there is are turn of 3.35%, 3.81% and 3% for three, four and five bedroom properties respectively.
While the UK property market used to slow down in autumn and winter, in the present day, the UK property market is a year-round entity. This means there is never a bad time to make a move in the market and if you are considering a move in one of these areas, these figures will provide you with plenty to think about.