Investing In a Buy-To-Let Pimlico

Investing in buy-to-let property in Pimlico can be a great way to generate passive income and build wealth over time. However, it is important to understand the key financial factors that will affect your investment. In this blog post, we will take a look at the average rents, rental yields, rental demand, and house prices in Pimlico, and discuss the top financial considerations you should keep in mind before making a purchase.

Average Rents

The average rent for a flat in Pimlico is:

  • £2,000 per month for a one-bedroom flat
  • £3,000 per month for a two-bedroom flat
  • £4,000 per month for a three-bedroom flat

For houses, the average rent is:

  • £2,500 per month a one-bedroom house
  • £4,000 per month for a two-bedroom house
  • £5,500 per month for a three-bedroom house

These numbers are relatively high when compared to the average in London as a whole, where the average rent for a one-bedroom flat is around £1,500 per month, for a two-bedroom flat is around £2,000 per month and for a three-bedroom flat is around £2,500 per month. This shows that Pimlico is a relatively expensive area to rent in, which could be a consideration when looking to invest in buy-to-let property.

Rental Yield

Pimlico offers relatively high rental yields compared to other areas in London. According to recent data, the average rental yield is:

  • 4% for a one-bedroom flat 
  • 4.5% for a two-bedroom flat, 
  • 5% for a three-bedroom flat

For houses, the average rental yield is:

  • 4.5% for a one-bedroom house
  • 5% for a two-bedroom house 
  • 5.5% for a three-bedroom 

These numbers are relatively high when compared to the average in London as a whole, where the average rental yield for a one-bedroom flat is around 5.5%, for a two-bedroom flat is around 6% and for a three-bedroom flat is around 6.5%. This shows that Pimlico is a relatively good area to invest in when it comes to rental yield.

Rental Demand

Pimlico is a relatively popular area for renters. According to recent data, the vacancy rate in Pimlico is around 2%, which is relatively low compared to the average in London as a whole, where the vacancy rate is around 5%. This shows that there is a relatively high demand for rental properties in Pimlico, which could be a positive sign for potential landlords looking to invest in buy-to-let property.

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House Prices

The average house price in Pimlico is around £1.5 million. This varies depending on the type of housing. For example, a one-bedroom flat in Pimlico can cost around £600,000, while a four-bedroom house can cost around £2.5 million. These prices are generally higher than the average in London as a whole, which is around £450,000 for a one-bedroom flat and £1.2 million for a four-bedroom house.

Top Financial Considerations

When considering a buy-to-let investment, there are several financial considerations to keep in mind. Firstly, it is important to consider the potential rental income and the costs associated with owning and maintaining the property. This includes mortgage payments, insurance, property taxes, and repairs and maintenance. Additionally, you should consider the overall market conditions and the demand for rental properties in the area. Finally, it is important to have a clear exit strategy in place, as the buy-to-let market can be unpredictable and you may need to sell the property at short notice.

In conclusion, Pimlico is a relatively expensive area to rent in, compared to the average in London. However, it offers relatively high rental yields and a low vacancy rate, making it a good area to invest in when it comes to rental yield. The average house price in Pimlico is around £1.5 million, which is higher than the average in London.

Free Landlord Resources

Free Instant Valuation

See how much your property could get in rent.

Fee Saving Calculator

See how much you could save on property fees.

Yield calculator

Calculate your rental yield with our simple tool

Compliance checklist

Make sure your buy-to-let property remains legal.

Compliance Guide

Download your complete landlord compliance guide 

Meet Sam your local Expert

Sam has a wealth of experience across the private landlord and Build to Rent sectors. He has advised a wide range of clients across the whole of London on how to find great tenants, improve their assets and effectively market their properties for the best returns.

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