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Bexley Buy-to-Let 2024 Guide

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    Investing in Bexley Buy-to-Let Property

    Known for relatively affordable property and as one of London’s greenest boroughs, Bexley has caught the attention of many property investors.

    The London buy-to-let property market has become intimidatingly expensive for many investors, so many are on the lookout for the cheapest boroughs and areas in the capital and surrounding areas.

    So how does Bexley live up to its reputation as a London buy-to-let hotspot? And how does this leafy South East London district stack up compared to other regions for buy-to-let investment in the UK?

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      View towards central London, UK, England, London, Abbey Woods, Lesnes Abbey

      Buy-to-Let Property Prices in Bexley

      Rightmove states that the average property price in Bexley over the past year was £508,527. This is much more expensive than the UK average of £291,044 calculated by the UK House Price Index. London housing is famously expensive, but Bexley property is more affordable than the overall London average of £535,597.

      The UK property market has been sluggish over the past year, and London has been the worst hit, which explains the modest dip in Bexley property prices. Savills predicts that this subdued market will continue going forward, but we will see a return to healthy growth for mainstream UK capital value from 2026 onwards. The London region is forecast to experience 13.9% growth over five years leading to 2028.

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      English suburbs; Welling, Bexley, London England, May 2019 view of typical english suburban housing - editorial use only

      Buy-to-Let Rental Market in Bexley

      The average rent in Bexley is £1554, as per housesforsaletorent.com, which is higher than the average UK rent of £1283 PCM, as stated by the HomeLet Rental Index. London rents are famously much more expensive than the rest of the country, and the average monthly rent in London is £2192.

      Bexley is considered a more affordable area of the capital to reside in, and it was named the cheapest local authority for rent in the London area by Zoopla, who calculated the average monthly rent to be £1455. Foxtons identified South London earlier this year as the most popular area in London for renters, with 28 renters per new instruction.

      But it isn’t only an appealing area for renters; London property investors searching for an excellent rental yield should also have Bexley on their radar. According to a Zoopla Buy-to-Let Report, Bexley is the third-best part of London when it comes to average gross rental yields, coming in at 5.38% – a decent yield for the capital.

      The BBC states that the Bexley area experienced 11.1% yearly rental growth from January 2022 to January 2023, showing that Bexley is falling in line with the national trend towards double-digit annual percentage increases. This is due to the extreme undersupply of rental properties across the UK, which has been pushing rents up rapidly in the past few years.

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      Investment Properties for Sale in Bexley

      Last year, the majority of property sales in Bexley involved semi-detached properties, which sold for an average of £508,527. Terraced properties sold for an average price of £420,704, while flats fetched £250,736.

      According to Rightmove, Bexley, with an overall average price of £427,238, was more affordable than nearby Greenwich (£525,779), Lewisham (£547,046), and Bromley (£578,824). The priciest area in Bexley was Old Bexley (£513,498), while Crayford (£303,500) was the least expensive.

      Sold prices in Bexley were 3% lower than the previous year and 4% higher than in 2021, when the average house price was £410,051.

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        Buy-to-Let Investment in Bexley: Area Breakdown

        The London Borough of Bexley is part of Outer London, consisting of several settlements. The main ones are Barnehurst, Sidcup, Erith, Bexleyheath, Belvedere, Crayford, Welling, and Old Bexley.

        The eastern part of Thamesmead also encroaches into the borough, another area of London known for being more affordable. There are also popular districts and boroughs outside of Bexley but nearby. Dartford is next door to the east, and Bromley is in the south. Eltham, part of the borough of Greenwich, is another in-demand area for property.

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          The Monk's Garden at the Lesnes Abbey ruins, the 12th Century built monastery located at Abbey Wood, in the London Borough of Bexley, United Kingdom.

          Old Bexley

          Average Property Prices in Old Bexley

          £503,191

          Average Rental Yield in Old Bexley

          3.73%

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          Red House by Philip Webb and William Morris, Bexleyheath, UK

          Bexleyheath

          Average Property Prices in Bexleyheath

          £439,023

          Average Rental Yield in Bexleyheath

          4.28%

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            London / UK - July 23 2020: Crossness Pumping Station and Abbey Mills, a Victorian Cathedral of sewage in south east London

            Belvedere

            Average Property Prices in Belvedere

            £368,374

            Average Rental Yield in Belvedere

            4.89%

            Bexley7

            Abbey Wood

            Average Property Prices in Abbey Wood

            £402,232

            Average Rental Yield in Abbey Wood

            4.56%

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              Bexley regeneration

              Crayford

              Average Property Prices in Crayford

              £382,765

              Average Rental Yield in Crayford

              4.60%

              (Average property prices taken from Rightmove, rental yield estimates calculated with figures from housesforsaletorent.co.uk)

              What is the Best Area of Bexley to Invest in?

              Property in and around Bexley is generally expensive compared to the UK average, and gross average rental yields skew lower.

              There is high demand for central areas like Bexleyheath and Old Bexley. Bexleyheath is a popular area for families looking for good value property and good schools, while Abbey Wood to the west is more convenient for access to the Tube.

              But it seems that areas to the north and east of the borough, such as Crayford and Belvedere, can offer cheaper property, and both have comparatively higher rental yields of 4.60% and 4.89%.

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                Why Should You Consider a Buy-to-Let Investment in Bexley?

                Well-Connected Travel Links

                Bexley, like many other South London boroughs, is less well-connected than other areas of the capital when it comes to tube services. A promising development is that the Elizabeth Line opened last year, connecting Abbey Wood to Canary Wharf in just over ten minutes – half the previous journey time.

                But residents of Bexley can opt for National Rail services or one of the many bus routes into central London to make up for this deficit, so it is still a convenient area to live for those who commute into central London, with good transport links.

                London rents are much steeper than average, and this fact, along with the higher cost of living, has led to reports of tenants making the move out of London and into cheaper areas, including commuter towns. However, the lure of Greater London isn’t likely to fade completely any time soon. Less central areas of London, such as Bexley, can offer a good balance between proximity to the work and education opportunities in the capital and a relatively more affordable lifestyle.

                Green Spaces

                Bexley is an outer London borough on the border of Kent, and it benefits from offering more green spaces than other areas of London. There are over 100 parks and open spaces, including Danson Park, which boasts 75 hectares of trees, a lake, and various facilities like watersports and boating.

                The area is home to various cycle routes and a Thames Riverwalk. Bexley’s location also makes reaching Kent’s rolling hills and peaceful countryside a relatively easy journey.

                Post-pandemic, proximity to green spaces has become an even more attractive feature of buying a UK rental property in the eyes of prospective tenants.

                Take a look at our updated eco-investment guide for more on sustainability and the buy-to-let market!

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                Bexley New-Builds

                In recent years, new-build properties have surged in popularity within the UK rental market, garnering significant attention from both landlords and tenants due to their distinct advantages over standard residential properties.

                As brand-new developments, these properties demand minimal maintenance or upkeep, facilitating a quicker turnaround for new residents to move in and for investors to start seeing returns.

                Most new-build properties now integrate cutting-edge eco-technology to respond to increasing eco-awareness. Features such as PV solar panels and mechanical ventilation heat recovery systems play a pivotal role in substantially lowering energy costs by generating electricity autonomously and ensuring optimal energy efficiency.

                The Bexley Local Plan aims to provide prompt delivery of crucial infrastructure and services to facilitate the anticipated expansion in housing and employment. With a 10-year target of 6,850 new homes, this project hopes to take proactive steps towards sustainable development in the region, incorporating measures to mitigate the effects of climate change.

                Considering recent property market trends, investments in newly developed properties such as these could see increased rental growth in the years ahead.

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                  Off-Plan Property in Bexley

                  Newly constructed properties often draw interest from tenants but can be pricier for investors compared to traditional residential units.

                  One strategy to make new-build properties more affordable is to invest through off-plan property investment, which involves purchasing a property before construction is completed. Getting involved early often allows investors to secure units at discounted rates.

                  Off-plan investment offers the potential for significant appreciation in property value as construction progresses, leading to increased capital growth as the property nears completion. These properties typically experience strong rental demand, potentially resulting in substantial rental yields in the future.

                  Successful off-plan investors often target emerging areas with robust infrastructure and growing job markets, as locations undergoing substantial regeneration present attractive opportunities for future construction projects.

                  While off-plan investment potential exists in the Bexley rental market, investors might find more lucrative prospects in UK cities with a broader range of new-build developments, such as Liverpool and Manchester.

                  Read More: Discover more about this investment trend with our recent buy-to-let guides, covering everything from off-plan property in Belfast to the latest UK hotspots!

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                  Premium London Commuter Belt apartments are securable for just £51,442, thanks to a new payment structure just agreed with the developer!

                  buy-to-let-red-house

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

                  London is currently considered a less promising region for property investment compared to other areas in the UK property market.

                  Firstly, average gross rental yields for London have been identified as the worst in the country. Zoopla calculated this figure to be 4.7%, while northern regions all come in at over 6%.

                  London house prices are also prohibitively expensive for many investors, and a return on investment can be seen much quicker in areas with more affordable housing. Zoopla states that the average price of a buy-to-let property in London is £522,000, while the North West is £151,000. This stark difference suggests a good property deal is more likely to be found in the North. Bexley may be cheaper than the London average, but it is still pricey compared to most other UK regions.

                  London is also disappointing when it comes to capital growth forecasts. Property expert Savills predicts that the London region’s capital value growth will hit 13.9% by 2028, but the North West is forecast to reach 20.2% growth in the same time frame.

                  Delve deeper into the market with the RWinvest guide to buy-to-let property in Wolverhampton!

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                    Want to Invest in Bexley in 2024?

                    Bexley is one of the most promising parts of London for property investors, with relatively affordable property and one of the best average rental yields in the region.

                    But when compared to the whole of the country, more lucrative opportunities can often be found elsewhere.

                    Selecting the ideal location for a buy-to-let investment can be a complex process, as numerous factors must be carefully evaluated. To address this, RWinvest has compiled a comprehensive collection of informative guides and articles to assist investors in making informed decisions at every step of their investment journey.

                    See our latest guides below:

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                    Author

                    Jessica Ferris

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                    Jessica Ferris is a property writer at RWinvest, helping our readers stay ahead of property market trends with the latest news and statistics.

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