Gravesend terraced houses to rent - is Lynton Road South a good buy?

We've recently sold a mid-terraced house on Lynton Road South, a property where we were invited to give both a rental and a sales valuation. The owner decided to sell for personal reasons and it was sold to a first time buyer, so no chance of it coming on for rent (sadly). It got me thinking – it’s a fairly tucked away road and I couldn't remember the last time I’d seen something come up for rent down there, so I carried out some investigating on the road.

Lynton Road South is predominantly made up of terraced houses (not taking into account Lynton Court tucked away), but that, according to local sources, are all totally different.  According to my research, there are 45 properties on the road and the average price of a property on Lynton Road South is £181,318. Quite interestingly, since 2001, nearly half of the properties have changed hands (21 in all), which isn't too bad over a period of 13 years, though out of these 21 properties, they have been sold 38 times in the 13 years. The average rent achieved over the last 3 years in the close vicinity is £750.00 per month, giving a yield of 4.1%, much higher than the average yield for the whole DA11 postcode which is just 3.5%. This is where it's important to compare like for like. You see, the average price of a terraced in the DA11 postcode is actually £220,180, much higher than the average of Lynton which is above, hence the lower yield.

Even more interesting, is that despite the average figures for the road, our house sold for much more than the average shown above, and it was valued for rent much higher than the average for Lynton Road South. This shows how popular the road is (and how swiftly the market is moving), if the only data available is out of date! Judging by what we sold & valued the property for, the yield would be 4.3% - so a better investment today than the average prices are telling us.

It really comes down to what is available to buy on the day, and how much a hard bargain you drive on the purchase price. Always get the best advice and opinion you can. Speak to us, speak to others, do your homework and negotiate the price, as that’s the figure which will determine your yield and return.

Remember, you’re always welcome to pop into either our Southfleet or Sutton-at-Hone offices for a cuppa and a chat, or call us on 01474 833050. You can also email us here or visit our website here.