Why investing in property in Bedford is good idea
Located in Bedfordshire in the East of England, Bedford has a population of 81,635 although the town lies at the heart of a larger urban area and borough, which can call on a population of over 150,000 residents. As Bedford is the northernmost stop on the Thameslink, it is still regarded as a commuter town that is suitable for people employed in London but the town is handily located with respect to travelling across England, and beyond, with a number of major airports within easy reach.
The fact that Bedford has a notable commuter population and London is within easy reach means that many people will consider it as a good investment opportunity. You need to work out what sort of property investment you are looking for, and how hands on you wish to be, but when it comes to receiving a good return for your money, Bedford is an area that is worth considering.
Average property prices in Bedford have risen over the past year
With respect to the change in property prices in Bedford in the past year, a variety of statistics suggest that the average price has risen by 6% between December 2014 and December 2015. The average price stated for property in Bedford at the end of 2015 was £240,816. The biggest rise in property prices came with detached properties, experiencing a 12% rise from £320,102 to £357,755. Semi-detached and flats also rose by 9-10% while the average price of terraced properties fell by 6%.
It is important to not get too caught up on average prices or how average prices fluctuate from year to year. There are many factors involved with property prices, and the average price isn’t always the best guideline. However, it would be fair to say that Bedford is an area on the rise and that property prices are likely to continue rising.
If you are looking to invest in Bedford, the fact that property prices have risen over the past year is far from ideal. In saying that, it doesn’t look as though the market has reached a peak yet, so you should still be able to make a return with respect to the price you pay. There is also the fact that if prices continue to rise, more people will be priced out of buying property, which means that demand for rental options will continue to rise. This provides a platform for would-be investors to get involved with the local property market.
The rental yield for Bedford looks positive
If you are looking to invest in an area, it is important to consider the rental yield. For the MK40 postcode area of Bedford, there is a 6.53% rental yield for one bedroom properties and a 5.89% rental yield for two bedroom properties. The rental yield for three bedroom properties is at 5.09%, and given that many property experts say that anything above 4% rental yield is a sensible return, it is easy to see why many people are choosing to invest in Bedford.
The MK41 postcode area has an even higher rental yield, sitting at 7.13% rental yield for one bedroom properties while the MK42 postcode provides a rental yield of 6.3%, so there is a level of consistency to be found in Bedford with respect to rental yields. With a well-regarded schooling system adding to the strong commuter links and wide range of amenities and facilities, Bedford provides many benefits to families and young professionals. If you are looking to invest in property, investing in Bedford is a good idea.