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Friday, July 19, 2013

Double digit yields still available

For those market watchers who think that double digit yields have gone for ever following on from tentative signs of economic recovery will be cheered by the latest auction results from Allsop most property auction held in London last week.

The auction pulled in £51 million of sales.

AST rental yields

Most interestingly the figures showed that the average property sold with the benefit of an Assured Shorthold Tenancy (AST) went for £156,375 with a jaw dropping yield was of 11.36%.

The message is that whilst the prime London market maybe booming with cupboards in Kensington going for a million quid as Russian oligarchs try and find somewhere safe to hide their wealth and some where safe to live.  It's still possible buy at auction for those in the know and with the cash to pick up flats in the regions for £30k

My personal favourite is the school in Barnsley still available at £130k...surely a snip for somebody with an eye for development and given the lapsed permission to turn it into 24 apartments.  See the image above for a flavour to the Grove Primary School. 

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