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Spotlight on George Street, the least expensive street in Glastonbury

Is the least expensive street in Glastonbury a good investment? What yield can a landlord expect from a property on George Street? What capital growth has George Street seen in recent years?

George Street is home to 97 residential dwellings, the fire station and an old chapel. The dwellings are a mix of houses and flats and a mix of privately owned, social housing and shared ownership. Most of the dwellings were built in 1990.

In the last 10 years the least expensive transaction that has been recorded in George Street is Flat 44 Old Market Court. It sold for £31,500 on 14/04/2014. The most expensive recorded transaction in George Street to date is 5 Chislett House, which sold for £325,000 on 13/03/2009. The property sale that has been recorded in George Street most recently was Flat 37, Old Market Court, which sold for £120,000 on 17/02/2017.

George Street has an average current value of £109,049, which makes it one of the least expensive places to live in Glastonbury, where the average house price is £243,473.

Capital Growth

Looking at the last property sold on George Street (Flat 37, Old Market Court) the price paid was £102,500 on 16/07/2015 and it recently sold for £120,000 giving the owner a profit of £17,500 which equates to a growth of just over 10% per annum (10.4%). This compares favourably to property in the whole of BA6 where the average price paid has risen by 21.7% over the last 10 years.

Rents

Looking at recent rental properties on George Street the average asking rent for a 1 bedroom property is £497 per calendar month while the average asking rent for a 2-bedroom property is £586. The highest asking rent for a 1 bedroom property was £500 per calendar month and for a 2-bedroom property £625.

Rental Yield

The average gross rental yield for a property on George Street is just over 6% which compares favourably with the wider market where yields are frequently below this level.

For George Street capital growth and yields look attractive for investors but as ever do your research before making any financial commitment.

Not a lot of people know that…

A new fire station was opened in George Street in 1902 which was replaced by another on the same site in 1950

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk

Area Guide to Ashcott

Introduction

Ashcott, located in the Sedgemoor region of Somerset, is a small village and civil parish. The village holds a population of 1,186 and the wider parish area also includes a range of hamlets, including Pedwell, Nythe, Buscott, Berhill and Ashcott Corner.

History

Ashcott (the parish) was formerly part of the Whitely Hundred and the village used to have a local train station. The station, located around two miles away, and called “Ashcott and Meare” until 1876 and then just referred to as Ashcott served both areas. However, the railway line, and station, was closed, alongside a number of railway stations and lines across the country in 1966 with the Beeching cuts.

Location

  • Glastonbury – 5.6 miles
  • Wells – 11.2 miles
  • Bridgwater – 11.6 miles
  • Taunton – 22.7 miles
  • Bristol – 42.7 miles

Transport

  • Bus service 29 –Runs to Glastonbury and Wells from Ashcott
  • Bus service 19 – Runs to Bridgwater from Ashcott
  • Nearest Train Station – Bridgwater Train Station – 10.7 miles
  • Nearest Airport – Bristol Airport – 22.6miles

Village Hall

Ashcott Village Hall is located in High Street and is situated next to the church. Anyone looking to visit the village hall should enter the TA7 9PZ postcode into their Sat-Nav device.

Education

Aschott Primary School is the main primary school in the local area and has been classed as “Good” as per the most recent Ofsted report.

Other schools within 3 miles of Aschott include:

  • Walton Church of England Voluntary Controlled Primary School
  • Catcott Primary
  • Brookside Community Primary School
  • Avalon School

Housing

  • Number of Households – 862
  • Detached – 452
  • Semi-Detached – 284
  • Terraced – 84
  • Flat – 20

Rents

Average rents in last 12 months:

  • 1 bedroom £482 per calendar month
  • 2 bedroom £750 per calendar month
  • 3 bedroom £767 per calendar month
  • 4+ bedroom £1,074 per calendar month

Arts and Leisure

None

Shops

A local shop.

Places to Eat

There are five pubs in Ashcott with a local brewer too, Moor Beer.

Places to Visit

In addition to the village hall and the five pubs, the Anglican Parish Church of All Saints is a popular attraction in the town. This church can be dated to the 15th Century and is classed as a Grade II listed building.

What sort of people live in Ashcott?

The most commonly recognised social group in Ashcott is the ABC1 group and it seems as though two different geodemographic database providers have different opinions on what sort of people are more commonly found in Aschott. One group believes the most common age for people falls between 20 and 44 while another provide states the average age of people in the local area is over 45. These groups have been further broken down into families with children in primary school and mature/retired couples and single people. There are low levels of unemployment in the Ashcott area with a higher than average level of people earning over £30,000 per year to be found in the town. There is also a higher than average proportion of people in the local area with qualifications.

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk

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