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Reading as an ivestment
bmlg03922
Posts: 8 Forumite
After looking in London for a cheap BTL, I realised that my budget (£140k) doesnt really get you much. I have now opened my search further out and Reading seems to me like a good place. As a town, it has all the facilities a good town needs, a uni, many large companies, and a fast train into London too. The property prices are also more sensible. I was wondering if anyone can give me any pros/cons of investing in Reading?
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Comments
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I don't know if you saw the programme on channel 4 a couple of weeks ago, but Reading came sixth on their top ten. OH is from just outside Reading, so I know the city a little. Most of Reading is good, although Witley Wood and Caversham are probably best avoided for investment: sadly the areas don't have good reputations (apologies to anyone who lives there). Earley is very nice. Not sure about prices, though.
http://www.channel4.com/4homes/ontv/where_best_invest/kp_intro.html0 -
Parts of Whiley Wood are fine.Upper Caversham is in general posh!I lived in Old Earley and again very nice.Wouldn`t want to get a btl in the Oxford Road,Not nice after dark.Check very carefully regarding rental yields.It`s a pricey place these days
Guess you would get about £500 to £600 per month rental.Are you a cash buyer or do you require a mortgage?
I am thinking of btls but no way would I go into the market now.Overall property versus earnings are so out of kilter I am expecting a very steep market correction.0 -
http://firstrung.co.uk/articles.asp?pageid=NEWS&articlekey=2346 Might be worth a little read.0
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I think the £500 - £600 month might be realistic in certain parts of Reading but the better parts are easily getting £700+. I know that for a fact as some of my wokr colleagues are paying that much for 1 bed flats there.If you found my comment helpful, please click the 'Thanks' button below :T0
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As someone else says, stay away from west reading especially oxford road.Save save save!!0
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LizD wrote:I don't know if you saw the programme on channel 4 a couple of weeks ago, but Reading came sixth on their top ten.
What top ten is this? And what data is it based on?0
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