Richmond’s Housing Market and Transport links
The housing market in Richmond offers a variety of options for landlords looking to invest in the area.
Housing stock
There are a total of around 27,000 residential properties in the area, with the majority being flats (around 57%). Out of these flats, around 27% are one-bedroom units, 40% are two-bedroom units, and 33% are three-bedroom units. The remaining 43% of the housing stock consists of houses, with the majority of these being three-bedroom units (73%).
The average price for a 1 bedroom flat in Richmond is currently around £350,000, while a 2 bedroom flat will typically cost around £450,000. A 3 bedroom flat in Richmond will typically cost around £550,000. These prices are slightly lower than the average in London, which are around £500,000, £700,000, and £800,000, respectively.
The housing stock in Richmond is diverse, with a mix of older and newer properties. There are a good number of new build properties in the area, which can be an attractive option for landlords and tenants alike. The age of the housing stock is important when choosing a buy-to-let location, as newer properties may require less maintenance and may be more attractive to tenants.
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Transport links
Richmond offers excellent access to the rest of London as the area is served by multiple train stops, including major stations such as Richmond and St. Margarets. These stations offer services on several lines, including the District and London Overground lines. These transport links compare favourably to the average in London and make Richmond an attractive location for tenants.
Commute times in Richmond are generally shorter than the average in London, making it an attractive location for tenants who need to travel to other parts of the city for work or leisure.
Conclusion
The housing market in Richmond offers a variety of options for landlords looking to invest in the area. With a mix of properties available for rent, a diverse housing stock, and excellent transport links, Richmond is an attractive location for buy-to-let investment. It is worth considering all the above factors before making a decision.
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Compliance checklist
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Compliance Guide
Download your complete landlord compliance guide
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