Rental property in the north

B

Brenbo

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A few quick questions on rental properties in the north.

  • What is the typically rental yield people are getting on buy to lets in the North of Ireland?
  • What type of property have you got (i.e. flat, terrace)?
  • What was your purchase price and when?
  • Where is the property?
 
Have to say I'm very surprised that there was not more of a responce to this thread considering the north has one of the highest capital growth's in Europe.

Anyone out there willing to get us figures on their property (s) or from this research even??????
 
See later thread.
For me late 2006, £168K for 3 bed semi, rent £400 pm.

i.e. shortfall for interest only mortagge of almost £300pm.

So yes capital appreciation is the key.

No problem renting this or other properties I have in the north. Just poor rent.
 
last july my son bought a 3 bedroom 2 sitting rooms working kitchen ,conservatory an extended garage semi detached house with large back garden 1/2 mile from Lisburn town centre co antrim also bus passes his front door
cost then was 161,000 sterling, some of the same houses have converted garages into granny flats
rentals in lisburn area around 500/600 PM
 
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I bought a house in Derry early 2006 - 3 bed semi. Costs £85k. Now worth £140k - £150k. Spent £6k for new kitchen, bathroom and some decorating. Rental income approx £400/month which would only cover mortgage of approx £80k. Add on the normal other overheads and montlhy cots is mortgage + £150. So I agree with previous post that unless you got in over a year ago reasonable capital growth is required. In Derry there are a lot of properties for rent and also alot of DHSS people wanting to rent. Both of these things keep rental incomes low and in some cases they are even decreasing. The local ecomomy is not that buoyant with a high % of N.I Jobs being in the public sector (approx 60% I think). Supply and demand is the main reason for growth in the property market locally. There are very very few houses being released onto the market and by the looks of this this won't changed much as there have been no major developments currently happening in this area.
 
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