Ipswich property market is ripe for the picking
It’s been reported by the homeless charity “Shelter” that First Time Buyers in London will need a salary of over £100,000 a year just to be able to keep up with the property market.
It also reports that the salary currently required to make this 1st step is around £80,000 .
This also means they will need to raise on average a £60,000 deposit and that’s only at 10%
So what does this mean to our home town?
With the London link to Ipswich currently only 1 hour and 15 mins and Ipswich already being touted as one of the hot spots for investment it’s a great time to buy.
Whether its just to add to your pension fund or if you are looking for that extra monthly income right now, the market in Ipswich for properties to buy is ripe for the picking and with rental demand still climbing its only going to go one way.
Our advice if you are looking for a rental income right now is to go for a three bedroom, some of the more affordable areas such as Chantry and Stoke Park (South West) offer a good yield with reasonable purchase prices.
For as little as £150,000 – £160,000 you can pick up a three bedroom house which will in turn rent out for £725 – £775 which can equate to a yield of 6% +
When you compare this to a three bedroom on the more expensive East side of Ipswich where the same house will cost upwards of £200,000 for pretty much the same rental figure.
But at the same time these properties in better school catchments and in traditionally more desirable areas will offer much better capital growth!
So its really a case of do you want the money now or do you want to build for the future.
Contact either our sales or rental team now on 01473 221399 or property@keystoneiea.co.uk
source: www.standard.co.uk
