Watts Corner is a development of 72 dwellings located just a 30-minute walk or 6-minute drive NE of Glastonbury town centre.

Built by David Wilson homes, the development is also known as Chalice Fields and all the properties are detached. The first property completed on 19th June 2006 (11) and the most recent transaction was 19th August 2016 (34). In its short history, the highest price paid for a property on Watts Corner was £455,000 (47) and the lowest price paid was £235,000 (43).

Of all the properties sold on Watts Corner since they were originally built, according to the Land Registry data, only 5 transactions were at a price higher than the price the seller paid. 21 transactions were at a price lower than the price the seller paid. Overall, on average, sellers lost £24,400 in buying and selling on Watts Corner. The most recent transaction netted the seller just £11,000 profit but at least it was an increase.

It’s fair to say that capital growth has generally not been a friend of Watts Corner though 3 of the last 6 transactions recorded by the Land Registry show positive growth. Watts Corner is part of the Glastonbury St John’s ward which on average has seen a 13% decline in the average price paid for a detached property over the last 10 years which suggests the trend on Watts Corner may reflect the wider market in the area.

What about rents?

Three 4 bedroom properties have come to the rental market since they were first built and have achieved rents in the range of £1200-£1500 per calendar month though the most recent range is a more modest £1200-£1300 per calendar month.

Three 5 bedroom properties have come to the rental market in the same time and have achieved rents in the range of £1000-£1500 per calendar month.

Conclusion

In terms of capital growth, there are better areas and property types in Mid Somerset to invest in. With an average price paid of £363580 and a rent of £1250 per calendar month this would give you a yield of just over 4% which is slightly better than what is offered by banks.

Not a lot of people know that…

The gap in the Watts Corner dwellings opposite 185 Wells Road was left as an agreement between the then owner of the land who lived at 185 Wells Road and David Wilson Homes so that the owner had an unobscured view of the fields from her kitchen.

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