The Highs and Lows of Milton Avenue in the last 14 years.

A landlord I know has owned a few properties on Milton Avenue for the last thirteen (ish) years. She came in to our office to take advantage of our tea and coffee making facilities (me!) and to discuss the rise and fall of property prices on Milton Avenue and how this has affected her yield over the years.

In 2000, when she purchased her first property on Milton Avenue, the average value of a terraced house on the street was £44,649 which had a sharp rise to £86,879 by 2003. This rise in value continued and in 2006 the average value was £107,250. At the height of the property boom in this area, a terraced house on Milton Avenue had an average value of £113,028. This soon dropped and in 2009 - 2010 the average was £98,832, this year has seen the average value increase to around £108,000.

When she told me of the rents she had achieved on the street, they seemed fairly stable over the thirteen years. In 2003-2004 the average rent was £410 per month, in 2006 – 2007 this rose to £556, in the slump between 2008 – 2010 it dropped marginally to £540 and now the average rent in Milton Avenue is £575, dependant on the property’s accommodation. Therefore, a landlord could expect a respectable annual yield of around 6.4% on Milton Avenue at the moment.

If you would like some advice with your potential investment, please come and see us in our office along Northdown Road. I do make a great cuppa!

Data Source - Zoopla Sold Prices - Rightmove Plus