Poole Buy-to-Let Guide

As we’ve just mentioned, Poole property prices are some of the most extravagant in the UK.

The town is often included in the same breath as Bournemouth and Christchurch. Together, they are known as the BCP. Average property prices here are £336,041 per HM Land Registry UK House Price Index.

In comparison, the national average property price sits at £289,824 on that index.

However, if we look at Poole alone, Rightmove puts the average property price at £462,136.

However, Poole is still cheaper than Oxford, Cambridge, London and a smattering of other cities in the UK.

In July 2023, the Land Registry documented a -1.80% price decline in this area, indicating Poole prices are depreciating faster than many other places in the country.

Discover the best way to invest in property with RWinvest’s latest guide.

Various types of properties are on offer in Poole, including flats and detached and semi-detached properties. As mentioned, properties here often fetch a higher price than most other regions in the UK, meaning that investors might find greater affordability elsewhere.

According to Rightmove, properties in Poole saw an overall average price of around £434.403 over the last 12 months. Most of these sales were detached properties, which sold for an average of £628,594, followed by semi-detached properties at £342,192. Flats had the lowest average but were still relatively costly compared to the rest of the country, fetching a price of £297,767.

In the past year, sold prices in Poole experienced a 4% drop compared to the previous year but were 3% higher than the 2021 peak of £420,464.

The Poole town centre grew in prominence between the 1500s and 1800s. The town served as a trading port to the New World before becoming an essential link between the UK, Europe and Canada.

Nowadays, Poole’s town centre is a working port and home of Sunseeker – a luxury yacht company. The area is well-preserved and boasts plenty of eateries and bars. This part of Poole is popular with professionals and families. People enjoy numerous events and activities throughout the year in Poole Quay.

In addition, the centre is only a few minutes from the beautiful surrounding woodland. Poole Park offers 110 acres of lovely parkland and gardens.

Investors can buy period houses, flats and new properties here. There are some outstanding Luxury hotels in the Poole region to consider, too.

Good-value properties may be available in the Hamworthy and Oakdale areas. Parkstone Road also has many desirable detached and semi-detached houses close to green spaces and the harbour.

Average Property Prices in Poole and Poole Park

Properties in this area cost £340,016 on average.

Average Rental Yields in Poole and Poole Park

Expect average yields of 5.3% in this area.

While Canford Heath and Creekmore are still expensive compared to the rest of the UK, they are one of the more affordable places to live in Poole.

They offer good access to Poole town centre and other northern parts of town. They also lead onto the A35 and A350 roads to help commuters get to other places in the region.

Average Property Prices in Canford Heath and Creekmore

Property prices in Canford Heath are £355,823 on average.

Average Rental Yields in Canford Heath and Creekmore

Average rental yields in this area are 4.3%.

(Averages house prices taken from Zoopla, rental yield estimate calculated with figures from home.co.uk, housesforsaletorent.co.uk)

New-build properties have recently seen increased popularity within the UK rental market, generating considerable interest from both landlords and tenants alike.

As these are newer developments, most require almost zero maintenance work, meaning a faster turnaround for tenants to move in and for investors to start seeing rental returns.

Many new-build developments are also beginning to incorporate the latest eco-technology to address the current environmental concerns. Using technology like solar panels and air source heat pumps, tenants and landlords can significantly reduce energy bills by generating their own electricity.

The Poole Local Plan is a new strategy that aims to deliver new homes, jobs and infrastructure to Poole.  In November 2023, the council submitted three separate applications across the Waterloo estate and Hamworthy to construct up to 11 new homes.

Looking at recent market trends (particularly the ongoing cost-of-living crisis and increased eco-awareness), investing in new-builds could be a strong option in 2024.

However, while some new-build opportunities exist in Poole, investors could see a wider variety in other cities, such as Liverpool or Manchester.

Read More:  Discover more about this investment trend with our recent buy-to-let guides, covering everything from new-builds in Grimbsy to the latest UK hotspots!

While Poole is a beautiful place to live and desirable for many tenants, the property prices are enough to put off a lot of buy-to-let investors.

As an investor, you’ll want to find properties with good value and high yields. Yields in Poole are quite low, while property prices are much higher than in many other places in the UK.

While the tourism economy attracts millions of people, it pales compared to other places.

If you look further north to somewhere like Liverpool, you’ll find a perfect storm of good value properties, rental yields and a tourist economy.

The city has an average property price below £180,000 (per the Land Registry UK House Price Index), making the area around £150,000 cheaper on average than Poole. Many terraced houses and apartments in Liverpool can be bought for prices well below the city’s average.

In addition, yields are 7.77% on average. However, some areas offer even better yields. Finally, Liverpool welcomed 71.7 million visitors in 2022, meaning the short-term rental market is much more lucrative.

For example, Crosby offers a similar seaside vibe to Poole and was voted one of the best places to live by The Times. In this area of Liverpool, you’ll find developments with one or multi-bedroom flats that are perfect for short-term lets.

If you’re looking for a property market set to burst into life, you’ll want to get in on the ground floor with apartments in Liverpool or consider Manchester property investments.