Buy-to-let investors can achieve excellent rental yields and the prospect of strong capital growth in Woking.
The latest rental figures from Zoopla show the town offers great potential for achieving a high return on investment.
For example, the average asking price for a one-bedroom apartment in Woking is currently £231,000, while the typical asking rent is £1,052pcm. Based on these figures, landlords can expect to achieve a yield of 5.46 per cent.
Alternatively, two-bedroom apartments are on the market at an average asking price of £316,000 with an average rent of £1,406pcm, generating a typical yield of 5.34 per cent.
Those who have more funds available to invest in larger properties may wish to focus on three-bedroom houses, which are always popular with families and in high demand. The average asking price of such properties in Woking is £457,000, with a typical rent of £1,561pcm leading to a yield of 4.1 per cent.
With many investors setting a target of achieving a yield of at least four per cent, it is clear to see that these expectations can be easily met and surpassed in Woking.
When the figures are compared with other options open to those with cash to invest, including stocks and shares and savings accounts – which have been badly hit by the recent base rate cut - it is clear that property offers a significantly larger return and is the most lucrative way to invest.
What’s more, in addition to rental returns, investors stand to gain through the capital growth of their asset.
In the last five years, average property prices in Woking have grown by 27 per cent, or more than £102,000 per property. Although there is no way of knowing how this figure will compare in the next five years, it is fair to assume that investors can expect to benefit from capital growth in the medium to long term.
Investors would be wise to consider Woking when it comes to purchasing their next buy-to-let property, with few towns around the UK able to offer such a substantial return.