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Basingstoke Buy-to-Let Guide

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    Everything You Need to Know About Basingstoke Buy-to-Let

    Basingstoke is one of the largest towns in Hampshire.

    As such, buy-to-let investors may look to Basingstoke for property investment opportunities. Known as one of the county’s retail hubs, the Basingstoke property market is stronger than surrounding towns and villages, thanks to good local amenities and a population in excess of 100,000.

    Buy-to-let property is considered one of the best things to invest in right now for the long term. But it’s important to choose your location wisely through thorough research.

    This guide will cover Basingstoke property prices, rental yields and more – key information for those interested in investing in UK property.

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      Basingstoke Aerial View

      Buy-to-Let Property Prices in Basingstoke

      According to HM Land Registry’s UK House Price Index, the average property price in the borough of Basingstoke and Deane is £359,539.

      By property type, the average price breakdown includes:

      • Detached houses: £639,541
      • Semi-detached houses: £393,817
      • Terraced houses: £301,716
      • Flats and maisonettes: £188,988

      Over the last year, Basingstoke has seen a meagre price growth of 1.40%, which is still higher than the UK property price growth figure of 0.20% and some might regard as one of the safe investments in 2024.

      The average UK house price is £292,882. As such, Basingstoke is 20.43% more expensive than the national average.

      According to Rightmove, the most popular property type in Basingstoke is terraced housing.

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      Buy-to-Let Rental Market in Basingstoke

      The Basingstoke Market Rent Summary on Home.co.uk states the average rental price in the area is £1,565 PCM.

      But this varies depending on the Buy to let property type, such as a buy-to-let flat or house. According to those statistics, the average rent for a flat is £1,343 PCM. In contrast, the average price for a home is £1,726 PCM.

      The average UK rental cost is £1,268 PCM, according to the Homelet Rental Index. The same index shows that the average rent in the South East is £1,350, making Basingstoke rents more expensive than the region and the rest of the UK.

      While there are some universities in Basingstoke’s region, such as the University of Reading, it is not considered a town with good potential for student letting.

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      Basingstoke aerial view

      Buy-to-Let Investment in Basingstoke: Area Breakdown

      Basingstoke Town Centre

      Basingstoke town centre is a great residential hub for people who want to be close to the train station, local amenities and central offices.

      Investors can find Victorian terraces, apartment blocks and new builds in this part of town. In addition, property prices are significantly lower than the Basingstoke average, which pushes up rental yields.

      Average Property Price in Basingstoke Town Centre

      The average property price in RG21 is £310,083.

      Average Rental Yield in Basingstoke Town Centre

      The average rental yield in RG21 is 3.9%.

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        Basingstoke nature

        Basingstoke Suburbs and Wider Area

        Basingstoke’s suburbs include:

        • Buckskin
        • Oakridge
        • Brighton Hill
        • South View
        • Popley
        • Houndmills
        • Winklebury

        The suburbs include properties built from the 1950s onwards. Many Basingstoke suburbs are made from housing estates with local amenities, social housing opportunities for tenants and private housing estates. This offers a great opportunity for Property Investors from all over the world.

        The suburbs offer good access to the town centre and green spaces in the Hampshire countryside. Buyers can find good value properties within these areas and expensive semi-detached and detached homes.

        Areas further out include:

        • Chineham
        • Hatch
        • Hatch Warren
        • Old Basing
        • Bramley
        • Kempshott
        • Sherborne St. John
        • Oakley
        • East Oakley

        Many of these places started as small villages but have become part of the Basingstoke urban areas over the years. However, they still offer a village atmosphere, making them popular with buyers and tenants. These districts provide good access to the beautiful Hampshire countryside and North Downs. Properties in this part of Basingstoke are more expensive than average.

        Average Property Price in Basingstoke Suburbs and Wider Area

        Buyers can expect the following average property investments prices depending on the postcode:

        • RG22: £346,568
        • RG23: £429,248
        • RG24: £365,804
        • RG25: £563,908
        • RG26: £426,255

        Average Rental Yield in Basingstoke Suburbs and Wider Area

        Investors can expect the following average rental yields depending on the postcode:

        • RG22: 3.87%
        • RG23: 3.38%
        • RG24: 3.67%
        • RG25: 3.51%
        • RG26: 3.46%

        (Average property prices were taken from Rightmove in late 2023, and gross rental yield estimates were calculated with figures from housesforsaletorent.co.uk in late 2023)

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        Why You Should Consider a Buy-to-Let Investment in Basingstoke

        Transport Links

        Basingstoke offers excellent transport links to other notable towns and cities in the south of England. For instance, commuters can reach Reading via the A33 road in less than 40 minutes, while a 20-minute train journey also connects Basingstoke and Reading.

        London is less than an hour away on the train. The M3 and M4 motorways ensure commuters can travel from Basingstoke to London in under two hours.

        Due to Basingstoke’s proximity to the capital, many people choose Basingstoke as a base if they work in London and want to avoid paying astronomical rental costs and house prices. Properties in the centre of Basingstoke are most popular with commuters due to easy access to Basingstoke train station.

        Amenities and Quality of Life

        Basingstoke has plenty of amenities for residents and visitors. For instance, they have good shops and restaurants thanks to The Malls and Festival Place. The town has attractions like Skizone, The Anvil, Forge and Haymarket theatres, not to mention Mileston Museum. The Basingstoke Festival and B Love Basingstoke Life Festival attract people from out of town, strengthening the local short-term rental market.

        Basingstoke also scores highly for quality of life. In a 2020 Halifax survey, Basingstoke earned a spot in the UK’s top 50 places to live.

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          Basingstoke New Builds

          Demand is high for rental properties across the UK, meaning there is more emphasis on new build developments to meet the need for new housing. This has been taken on by both the local council and private developers in Basingstoke.

          However, Basingstoke Council have stated that they want to slow down new home building, unlike many other regions.

          Private developments in Basingstoke seem to mainly consist of houses rather than apartment buildings, as many developers will choose major cities for their build-to-rent developments where there is high demand from young professionals.

          While there is definite demand for new builds in Basingstoke from property investors, it may be the case that there are more opportunities for new build investment elsewhere.

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          Off-Plan Property in Basingstoke

          The growing interest in new builds has also led to more options for off-plan property investment in Basingstoke.

          New builds are typically more expensive than older properties, so the trend towards new builds has also seen increased interest in off-plan investment. This involves investing in a property while it is still in the planning or construction stage. By investing earlier in the process, the investor can take advantage of discounts or offers from the developer.

          However, Basingstoke is a smaller town, so there may be fewer opportunities for off-plan investments compared to major cities. Why not take a look at some of the available Off Plan property Brighton has to offer.

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            How Does Basingstoke Compare to Other UK Regions When It Comes to Buy-to-Let?

            As we have already established, Basingstoke’s average property price is considerably more expensive than the national average. In addition, rental yields rarely exceed 4% – though you may find properties that are an exception to the norm.

            If you want to earn a substantial ROI, Basingstoke may not be your best bet. Instead, consider focusing on areas further north to see better yields on your property portfolio.

            According to Savills, the North West has a capital growth prediction of 20.2% by 2028 – much higher than the UK average. Investment opportunities in major North West cities, such as investment properties in Manchester, are increasingly popular.

            Investors can find cheap property for sale in Liverpool. The city offers some of the best-value properties on the market, boasting an average property price of £179,129 – more than £100,000 less than the national average. In addition, Liverpool’s yields are roughly double that of Basingstoke, with some postcodes earning gross yields of over 7%. This makes it an attractive area for a buy-to-let house or flat.

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              Want to Invest in Basingstoke in 2024?

              If you want to invest in Basingstoke, you will benefit from a property in a desirable area close to London with a good quality of life. However, property investors should consider whether a costly Basingstoke property fits their investment strategy, especially with better-value opportunities further north.

              To learn more about how other UK cities stack up in the buy-to-let world, check out some of our latest property investment area guides:

              Map of Basingstoke

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              Author

              Dale Barham

              Dale is a property content writer at RWinvest. Keeping a close eye on the UK property market, Dale helps our readers stay informed and up to date on the latest market news and statistics.

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