Glastonbury may have the best ley lines and more mystic megs per square mile but for investment potential how does it compare to its close relation just over the Brue – Street. Glastonbury has 4322 dwellings and neighbouring Street boasts it is the largest village in England with 4960 dwellings. (Source 2011 Census data on Nomisweb)
Let’s have a quick look at some metrics to see how these two parishes compare:
Capital Growth
Over the last 10 years Glastonbury property has seen capital growth of 23.2% while Street property has seen capital growth of just 17.2%. (Source Land Registry Price Paid data)
Rental Yield
Looking at data from the property portals provides an indication of what yields you can expect. Whilst the data on the property portals won’t tell us actual prices or rents paid it provides a guide for comparing the two parishes.
Glastonbury with an average asking price of £283492 and an average asking rent over the last 5 months of £685 PCM gives a gross yield of 2.9%
Street with an average asking price of £226686 and an average asking rent over the last 5 months of £675 PCM gives a gross yield of 3.6%
This brief analysis suggests Street produces a better yield than Glastonbury.
Saleability
We recently looked at the saleability of property in Street and Glastonbury here and at the time found that 38% of property on the market in Glastonbury had a buyer compared to just 25% in Street. (Source Rightmove.co.uk)
Time to Sell Analysis
Looking at the average time to sell property in the last 90 days in Glastonbury it was just 80 days compared to 117 days in Street. (Source home.co.uk)
My analysis suggests it is easier to sell a property in Glastonbury than Street.
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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