Current Property Prices In Weymouth
As a seaside town in Dorset, it is fair to say that Weymouth has a lot going for it, and many people are proud to call this town their home. With a population in excess of 52,000 people, Weymouth is recognised as the third biggest settlement in the whole of Dorset, coming after Bournemouth and Poole.
Bournemouth and Poole have a lot of great facilities and reasons to live there but you’ll find that many people appreciate what Weymouth has to offer. Lying just 7 miles from Dorchester, Weymouth is well located for other places but you can enjoy what is on offer by the seaside, and this is why you find a lot of people have an interest in the current property prices in Weymouth. Whether you are looking to buy property in the area or you are keen to sell your home, knowing the current property prices is a great starting point for anyone.
Value can be found in Weymouth
As of October 2017, the average value of property in Weymouth stood at £265,316. At the same time, the average price paid for property in the past 12 months is £249,789 and for the past six months, the figure stands at £248,649. In the past three months, the average price of property in Weymouth is listed as £236,368.
It would be easy for people to look at this trend and see it as a worrying sign but in reality, this isn’t that much of an issue. The number of property sales in the area is so low that you cannot read too much into the fact that the average price has fallen. When there are a small number of sales, you will find that outliers can have a big impact and this means you shouldn’t take any trends as being the full story. The movement is certainly something to keep an eye on but given the current level of demand, it is fair to say that the Weymouth property market is still in robust shape.
Another price issue that many people hold an interest in is the level of average rents in the area. In Weymouth, the average rent for a one bedroom property stands at £537 per calendar month while the average rent for a two bedroom property is listed as £678. For a three bedroom property in Weymouth, the average rental fee per calendar month is £848. There aren’t too many four bedroom properties on offer in Weymouth but the average rent per calendar month stands at £1,101.
Weymouth offers value for money for investors
The DT4 postcode area covers the town centre of Weymouth while also representing Melcombe Regis and Wyke Regis. If you are considering buying property in this area as an investment opportunity, it makes sense to focus on the expected rental yield on offer. A one bedroom property in the DT4 area provides an expected rental yield of 5.6% and a two bedroom property provides an expected rental yield of 5.46%. A three bedroom property in this part of the country offers an expected rental yield of 4.25% and there is an expected rental yield of 4.14% from a four bedroom property. A five bedroom property in DT4 is expected to provide a return of 4.29%. With many investment specialists suggesting that a return of 4% is a great starting point for considering an investment, Weymouth would appear to be of interest to most investors.
With so much going on in Weymouth, most people will feel that this is an area they should invest in. However, you will also find that the prices and values back up most people’s positivity surrounding Weymouth, making this an option that is well worth considering.