Winchester Buy-to-Let Guide

According to Rightmove, the average price of a property sold in Winchester over the last year was £639,201. This is substantially more expensive than the UK average of £284,691 per the UK House Price Index. The South East is generally an expensive region, but even within the Winchester area, it is particularly expensive. In the past, it has been called the least affordable UK city for buyers.

These sold prices are 2% down on last year and 2% up compared to 2021. This is typical of the sluggish growth observed in the property market last year. In particular, southern regions were affected most, with price dips in some areas. But is this subdued market likely to persist?

According to Savills, the mainstream capital value forecast seems more optimistic from 2025 onwards, but the South East may take longer to recover than other regions. The area is expected to show growth of 17.6% leading up to 2029, which is lower than the projected UK average of 23.4%.

Learn More: Discover the best place to buy-to-let in the UK and the safest property investments with RWinvest’s latest market insights and reports!

There is a mix of property types in Winchester, including cottages, townhouses, and modern new builds. Certain types of housing are found more commonly in certain areas; for example, Fulflood is known for cottages, while the Hyde area is home to Victorian semi-detached and terraced houses.

Rightmove states that the majority of sales in Winchester over the past year were terraced properties selling for an average price of £615,641. When it comes to other property types and their average prices, detached properties sold for an average of £950,257, and flats went for £332,250.

Learn More: Want to know how to get into property investment? Whether you’re interested in serviced accommodation in the UK or off-plan properties, our 2024 guides have got you covered!

Average Property Prices in St Cross

The average property price in this area is £703,120.

Average Rental Yield in St Cross

The average rental yield in this area is 2.91%

Average Property Prices in Twyford

£659,266

Average Rental Yield in Twyford

The average rental yield in this area is 2.63%

(Average property prices taken from Rightmove in early 2024; rental yield estimates were calculated with figures from housesforsaletorent.co.uk in the same period)

Location and High Demand

The idyllic city of Winchester has plenty of appeal for potential tenants. The area is of historical and cultural importance. The city’s medieval history can be sampled at Winchester Cathedral and the Great Hall housing King Arthur’s Round Table, and literature fans can enjoy Jane Austen’s house and Keats’ trail.

Winchester is also surrounded by the stunning countryside of the South Downs National Park. During the COVID-19 pandemic, many renters started prioritising access to green spaces and nature when searching for a home, so this can be an appealing feature of a property. However, this trend has started to reverse somewhat.

Winchester was named the happiest place in the UK outside of London in Rightmove’s 2023 Happy at Home Index. The city came second overall after Richmond upon Thames, a testament to Winchester’s high demand and desirable location.

Property investment trends are switching towards new-builds despite the premium investors typically pay to choose a brand-new property. For this reason, investing off-plan is gaining more attention as a way to acquire a newly built property at a lower-than-market-value price.

As a popular area, there are some off-plan investment opportunities in Winchester. Many of these projects are luxury developments with extravagant price tags, so they will still cost more than average for a property of their size, even with off-plan discounts.Why not read more about property investment in UK areas with the RWinvest guide.

It may be worth looking beyond Winchester to see the full range of options in the region. But as mentioned, the South East is much more expensive than other parts of the UK, so it is advisable also to take a look at Northern cities.

For example, major cities (such as Liverpool or Manchester) in the North West are more affordable. However, there is still a significant demand for new builds, meaning there are abundant opportunities for off-plan investment.

Further Reading: Discover more about this investment trend with our recent buy-to-let guides, covering everything from off-plan property in Poole to the latest UK hotspots!