Landlords in Camberwell
Camberwell Landlord Guide
Residents of Camberwell largely consider the area home to a creative hive of activity, where art and music connections prove to be the stronghold. And the properties come as lively and varied as the people inhabiting Camberwell, spanning split-level Victorian terraces, Edwardian stucco maisonettes, apartments in modern developments and elegantly tall semi and detached period houses. This magnetises to the area the likes of young professionals, single occupant, students, and small families keen for a slice of the South East London way of life. But what are they prepared to part with to live in a property here?
According to Rightmove, Camberwell properties sold with an overall average price of £510,344 in the past year, making this area more expensive than nearby Walworth and Peckham – with averages of £435,077 and £483,078 respectively. This does however make property for sale in Camberwell cheaper than Herne Hill (£660,831) and Brixton (£515,810) – which helps shapes the area into a viable alternative for South East London young professionals and families to live in, who are drawn to the area’s eclectic, cosmopolitan way of life but are somewhat limited by budget in the face of rapidly escalating prices of property in these neighbouring locations.
Of course, this does not mean Camberwell lacks proved year-on-year property capital growth, with overall sold prices escalating by 11% on the previous year, and by a significant 29% up on the 2013 level of £395,958. For first-time buyers and buy-to-let investors, these remarkable figures are incredibly attractive, especially when considering prospects for rental yield in the area.
According to home.co.uk, the majority of properties available for rent in Camberwell secure £1,000-£2,000pcm – with £1,640pcm being the average for letting an entire flat. It is worth bearing in mind that the majority of flats available on the market to rent in Camberwell are 1-2 bed, therefore more bedrooms available – particularly in houses rather than flats – usually secures stronger return. For example, 3 bed properties let in Camberwell can yield over £2,000pcm, and 4 and 5 bedrooms can reach in excess of £3,000pcm. At the top end of the scale, this means that property let in Camberwell – if marketed appropriately and effectively – can generate a yearly income from clean and tidy tenants of around £36,000.
This makes it pivotal for landlords to always consider their property type and its specific location before electing how to approach renting property in Camberwell, and the tactics deployed for securing which kind of tenants – be that students, families, professionals or mature residents. As a general rule, properties let in Camberwell should be functional in basis yet aesthetically pleasing throughout with neutral palettes and sources of comfort. A blend of traditional features with contemporary furnishings tends to work well, particularly where space can be highlighted.
However, due to the highly sensitive nature of the lettings market not just in Camberwell but city-wide, it is essential for landlords to seek the services of a professional and reliable estate agency that can provide more than just a mere sweeping approach to letting property by instead adopting targeted, highly-strategic marketing tactics. While this can boost rental yield, it also ensures peace of mind in the tenant selection and daily management of the property from a team that are both local to the area and passionate about securing landlords the services they deserve.
To find out more, get in touch with Hunters in Camberwell today, where one of the lettings specialists at the independently owned branch will be on hand to discuss options.