Rental Demands
Medway landlords will find letting demand not only from the local market but also from those who come to work at the workplaces in the area. There is also some demand for short-term lets and student accommodation in parts of the area.
How much can Medway towns buy to let investors make from a rental property? Market rent summaries published by Home.co.uk say that average monthly rents are currently £1,139 PCM in Chatham, £808 PCM in Gillingham, £1,027 PCM in Rainham, £1,150 PCM in Rochester and £1,073 PCM in Strood.
What are Medway properties yields like? The Medway area is covered by some or all of the Medway ME1, ME2, ME4, ME5, ME7 and ME8 postcode areas. Current data from property xyz suggests that average letting yields are 3.9% in ME1, 4.3% in ME2, 4.9% in ME4, 4.6% in ME7 and 3.9% in ME8. (No data available for ME5.)
It is always advisable to check possible achievable rents and yields for a particular property with a letting agent.
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