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Swindon Buy-to-Let 2024 Guide

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    Everything You to Know About Swindon Buy-to-Let

    Swindon is often overlooked when thinking about property investment in favour of more established towns and cities. But Swindon could be an up-and-coming buy-to-let hotspot.

    The town is often characterised as not having much going on, but it has managed to feature in the top ten best places to live in the UK several times, according to various polls over the last decade. It’s the largest town in Wiltshire and is surrounded by idyllic countryside, making it an attractive place to reside in.

    So what’s the real deal with Swindon? This guide will explore everything the town has to offer when it comes to buy-to-let property in the UK.

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      Buy-to-Let Property Prices in Swindon

      According to Rightmove, properties in Swindon over the last year had an average price of £276,715. The UK House Price Index shows that the average UK property is worth £287,546, which puts Swindon below the national average.

      The average house price in Swindon has grown in value by 4% compared to the previous year and is 11% higher than in 2020. Swindon property has been increasing in value, but in these tumultuous financial times, it’s essential to look at property forecasts to see if these trends are set to continue.

      The property market is experiencing sluggish growth, particularly in South England, where many areas have recently had negative growth. Property expert Savills believes the property market will bounce back in the coming years and predicts that the South West, where Swindon is situated, will grow 17.9% leading up to 2028.

       

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        Buy-to-Let Rental Market in Swindon

        According to housesforsaletorent.co.uk, the average monthly rent in Swindon is £1,049. This makes Swindon more affordable when compared to the UK average rent of £1,243 PCM, as calculated by the HomeLet Rental Index.

        When it comes to rental yields, Swindon is one of the top performers in its region. Zoopla has stated that Swindon is home to the third-highest average rental yield in the South West, coming in at 5.8%.

        The BBC reports that rent has been increasing in Swindon year on year since 2020, with a 6.2% growth in the last year. A chronic undersupply of UK buy-to-let properties for sale has compounded the national trend towards rapidly rising rents, and this looks set to continue.

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        Investment Properties for Sale in Swindon

        The rental market in Swindon presents a range of property types, encompassing detached and semi-detached houses, along with terraced properties. As mentioned, property prices in the area are below the national average. This means that there could potentially be solid yields and rental growth available for investors.

        Over the past year, the average property price in Swindon stood at £276,715. Terraced properties constituted the majority of sales during this period, with an average selling price of £241,142. Semi-detached properties were sold at an average of £292,573, while detached properties saw a higher average cost of £417,147.

        In general, sold prices in Swindon for the last year were comparable to the previous year but demonstrated a 6% increase from the 2021 peak of £261,461.

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          Swindon Aerial View

          Buy-to-Let Investment in Swindon: Area Breakdown

          The Swindon Town Centre is a convenient place to live close to amenities and transport links. In particular, the Old Town area is a popular part of central Swindon, known for its charm and character.

          The south-east area of Swindon boasts many suburbs, including Walcot, Covingham, Lawn, Dorcan, and Broome Manor, which is close to Coate Water Country Park. Some good value districts can be found here, as well as pricier suburbs, and they offer good access to the town centre and Swindon Station.

          Suburbs in west Swindon include Toothill, Bridgemead, Freshbrook, and Nine Elms. In north Swindon, there are areas like Gorse Hill, Haydon and Stratton. With research, it’s possible to find good deals in Swindon’s suburbs, with some parts of the town having property prices lower than the Swindon average.

          Further out from the centre are the nearby towns of Wroughton and Royal Wootton Bassett, which are popular with Swindon commuters but comparatively pricier when it comes to buying a rental property in the UK.

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          Swindon City Centre

          Swindon Town Centre (SN1)

          Average Property Prices in Swindon Town Centre

          £247,619

          Average Rental Yield in Swindon Town Centre

          4.18%

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            Swindon riverside

            Dorcan

            Average Property Prices in Dorcan

            £228,472

            Average Rental Yield in Dorcan

            5.68%

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            Swindon Riverside

            Broome Manor

            Average Property Prices in Broome Manor

            £706,667

            Average Rental Yield in Broome Manor

            1.65%

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              Swindon River View

              Toothill

              Average Property Prices in Toothill

              £249,929

              Average Rental Yield in Toothill

              4.23%

              Swindon Park

              Gorse Hill

              Average Property Prices in Gorse Hill

              £228,753

              Average Rental Yield in Gorse Hill

              5.92%

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                Swindon Street View

                Wroughton

                Average Property Prices in Wroughton

                £354,929

                Average Rental Yield in Wroughton

                3.28%

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

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                What is the Best Area of Swindon to Invest In?

                In the Swindon Town Centre, as covered by the SN1 postcode, it’s possible to find cheaper property than the overall Swindon average, and the rental yield is a decent 4.18%. SN1 also includes some central suburbs, such as Dorcan, where an even better rental yield can be achieved.

                The same goes for west and north Swindon, where good deals can be swiped in certain areas, resulting in more generous gross yields.

                But the more upmarket areas like Broome Manor are too expensive to offer high rental yields, and outer towns such as Wroughton tell a similar story.

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

                  Residential Demand

                  As mentioned previously, Swindon has made its way onto a few rankings, calling it one of the best places to live in the country despite its relatively low profile. It’s a popular area to live in, and this is down to the location and great amenities that residents can take advantage of.

                  Investors involved with Swindon typically mention the area’s quality schools (notably the Swindon Campus at Oxford Brookes University), employment potential, robust travel links, and leisure possibilities.

                  Swindon’s railway station can provide easy access by train to London and Bristol, and residents are also well placed for road travel thanks to the M4 motorway and the A419.

                  Swindon’s popularity is good news for the landlords in this area, as high demand will result in increased rental income and consistent tenancies with fewer void periods. Abundant interest in the area can also translate into good capital appreciation. Property in the area will be more sought-after, and sizable gains can be made when the time comes to sell the property.

                  Regeneration

                  Part of Swindon’s appeal is the town’s ambitious approach to improving the area for the future. It has already benefited from large regeneration projects, including some that started in the 60s, and plenty of work is currently ongoing or in the pipeline to spruce up Swindon.

                  Current plans include the Fleming Bus Boulevard scheme, a £33 million project to regenerate the town centre, as well as another £14 million project dedicated to improving and maintaining Swindon’s roads.

                  When looking for an affordable property that is likely to appreciate in value, areas with big regeneration plans can be a good prospect for investors. By purchasing the property early in the regeneration timeline, buy-to-let investors can take advantage of the lower prices before higher demand increases value later on. As the city or town becomes more attractive, there will likely also be an increase in rental demand and higher rental income.

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                    Swindon New-Builds

                    In the UK rental market landscape, new-build properties have emerged as a top choice for investment, drawing significant interest from both tenants and landlords alike.

                    A significant factor behind this lies in the fact that these properties demand minimal maintenance or upkeep before tenant occupancy. This often translates into a faster move-in process for tenants and more immediate rental returns for landlords.

                    Due to the ongoing undersupply of housing in the UK rental market, new-builds have become even more sought-after than before. This has led to many local authorities implementing new housing development schemes. Swindon Council, for example,  have begun work on various housing schemes to address this shortage and help boost local infrastructure.

                    Given the current market dynamics, newly constructed properties like these could hold the potential for significant capital appreciation and rental yield growth over time.

                    Further Reading: Dive deeper into this investment phenomenon through our latest buy-to-let guides, ranging from new-builds in Bexley to the latest property hotspots across the UK!

                    Buy-to-Let Investment Guide

                    Want to become a successful buy-to-let investor? Get our free investment guide today for all the latest tips!

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                    Off-Plan vs Completed Property

                    The ultimate guide to help you choose whether to invest in off plan or completed property in 2024.

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                    Off plan

                    Off-Plan Property in Swindon

                    Investing in new-build properties often garners significant interest from tenants and landlords, albeit at a notably higher price than conventional residential properties.

                    One avenue for mitigating this cost is off-plan property investment. This strategy entails purchasing a property before construction is completed, typically resulting in acquisitions at a discounted rate relative to prevailing market values.

                    Early engagement in the construction process can lead to substantial capital appreciation as the development nears its final stages. As with most new-builds, there is often also robust rental demand, which could lead to attractive rental yields for the foreseeable future.

                    Prime off-plan opportunities are often found in burgeoning regions, particularly those undergoing extensive regeneration and population growth.

                    While the Swindon rental market may offer some potential for off-plan investment, investors may find greater profitability in UK cities with denser concentrations of new-build developments (such as Liverpool and Manchester).

                    Final Units Remain with Prime River Views

                    Act now to invest in this 2-bedroom with ultra-prime views of the nearby waterfront and Royal Albert Dock.

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

                      In the South of England, Swindon stands out as an area with below-average property prices and higher rental yields than surrounding towns and cities.

                      But it remains true that property investors can find a much better deal in other regions. In particular, many cities in the North West have average property prices that are significantly lower than the UK average and boast more generous rental yields. For example, according to Zoopla, buy-to-let properties in Liverpool have some of the highest rental yields in the country, seeing averages as high as 7.21%.

                      The South is also outdone by the North when it comes to capital appreciation. While Savills forecast 6.2% growth for the South West leading up to 2027, the North West is forecast to hit 11.7%.

                      Delve deeper into the North West buy-to-let market with our guide to investment property available in Warrington.

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                        Want to Invest in Swindon in 2024?

                        Swindon may not have a high profile, but it can offer property investors a few boons, such as relatively high rental yields for the area, below-average property prices, and high rental demand. Swindon could be the best bet for property investors who want a slice of the South West region.

                        But safer and more lucrative investments can be found elsewhere when looking at the country as a whole, particularly for those seeking things to invest in right now for the long term.

                        The best areas to buy in Manchester and other major northern cities like Liverpool can offer better rental yields and cheaper property, providing a lower financial barrier to investing initially.

                        Deciding on the best area possible for a buy-to-let investment is critical to success, but it’s also one of the most challenging parts of the investment process. For this reason, RWinvest has created a range of informative buy-to-let guides and articles to help you get started!

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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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