Immaculate two bed….BONUS + Great return on Investment, Allen Street Tamworth

Good morning, I hope you all had a lovely weekend.

I’m kickstarting this weeks deals with a 2 bed terraced house I have found in Allen Street, just off Two Gates, in Tamworth. 

Got a great potential return and the house itself is lovely, take a look to see what you think……..http://bit.ly/2becXk3

Mark Webster of Tamworth are marketing this little gem, so If you are interested, I’d give them a quick call.

If you’d like to know where to invest in the Tamworth area and how to maximise the income potential on your investment property for the long term, then give me a call for a chat on 07531484956. I’m always open for a good natter.

Hall & Thompson






Post Brexit – Tamworth Property Prices set to drop £16,600 in the next 12 months?

Even the most sane person in Britain has to admit the Brexit vote will, in one shape or another, affect the UK Property market. Excluding central London which is another world, most commentators are saying prices will be affected by around 10%. So looking at the commentators’ thoughts in more detail, property values in Tamworth will be 10% lower than they would have been if we hadn’t voted to leave the EU.
 
As the average value of a property in the Tamworth Borough Council area is £165,600, this means property values are set to drop for the average Tamworth property by £16,560 … batten down the hatches .. soup kitchens and mega recession here we come ..it’s going to get rough.
 
.. but before we all go into panic mode in Tamworth .. the devil is always in the detail.
 
Look at the phrase again, and I have highlighted the relevant part “Property values in Tamworth will be 10% lower than they would have been if we hadn’t voted to leave the EU”
 
Property values today, according to the Land Registry are 12.97% higher than a year ago in the Tamworth Borough Council area. The 12 months before that they rose by 6.63% and the 12 months before that, they rose by 4.25%. If we hadn’t voted to leave, I believe on these figures, we could have safely assumed Tamworth House prices would have been 8% higher by the Summer of 2017.
 
… and that’s the point, we won’t see a house price crash in Tamworth, it’s just that house prices in a years time will be 2% lower than they are now (ie 8% less the 10% lower figure because of Brexit). Let’s look at the historic figures and how that compares to today’s figures for the Tamworth Borough Council area and Tamworth as a whole.
 
Average Value of a property 20 years ago                              £  46,000
Average Value of a property 10 years ago                              £138,800
Average Value of a property 2 years ago                                £137,500
Average Value of a property 1 year ago                                  £146,600
Average Value of a property today                                          £165,600
Projected Value of a property in 12 months’ time                   £162,300

Therefore, I believe the average value of a Tamworth property will be £3,300 lower in 12 months’ time than today.
 
That’s not to say Tamworth property prices might not dip slightly in the run up to Christmas (in fact they always have done just about every year since the year 2000 and most of those were boom years) .. but in 12 months time this is my considered opinion of where Tamworth property values will be.. and looking at the historic prices, even if I (and many other property market commentators) are wrong and they drop 10% from TODAY’S figure .. in the whole scheme of things, we have been through a Credit Crunch, Black Monday and 15% interest rates over the last 20 to 30 years .. and still Tamworth house prices have always bounced back.
   
Whilst the UK’s vote for Brexit has created an uncertainty in the Tamworth housing market, there is no need to panic and prospective buyers should merely use common sense about their purchases. I always say to people to be prudent and if you are taking out a mortgage, at some stage during the life of that mortgage, circumstances will be difficult. We won’t have a 2008 Credit crunch fire sale of properties because after the Mortgage Market Review which took place in the Spring of 2013, mortgage borrowers are not as highly leveraged this time around.  As a result of this, with any luck there will not be too many distressed sales, which cause widespread price reductions.
 
.. and Tamworth landlords? They have recently been thrashed by Osborne’s tax changes, but yields could rise if Tamworth house prices fall/stabilise and rents grow, and this might also make it easier to obtain mortgages, as the income would cover more of the interest cost. If prices were to level or come down that could help Tamworth landlords add to their portfolio, as rental demand for Tamworth property is expected to stay strong as more people find it more and more difficult to obtain mortgages.
 


For more thoughts on the Tamworth Property market .. visit the Tamworth Property Blog www.tamworthpropertyblog.co.uk

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Tamworth Property Market together with regular postings on what I consider the best buy to let deals in Tamworth, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch!  email me olorraine@hallandthompson.co.uk
Don’t forget to visit the links below to view back dated deals and Tamworth Property News. 

A Bungalow in Tamworth for us oldies!!

Two bed bungalow in need of complete refurbishment, being advertised by Green & Co of Tamworth at an asking price of £220,000. If you’re looking for a nice little project and have been thinking your bones creek more than the stairs, then this may be for you. 

 http://bit.ly/2aZ3pJP

Property features

  • No chain
  • Detached bungalow
  • Substantial rear garden
  • Scope for improvement
  • Driveway
  • Two bedrooms

Just added on Zoopla yesterday so if you are Interested  Read more   http://bit.ly/2aZ3pJP  and contact the agents for a viewing.



“Property of The Week!” Spacious Four Bed In Falcon – Wilnecote, Tamworth.

I have a smashing “Property of The Week!” to share with you in the form of a lovely four bed that unlike many featured properties in this article might not break the bank too much!

Picture 1


Up for sale with our good friends at Taylor Cole & Co. this property has quite a modest asking price of £225,000. For that price you will be getting a spacious home with large living room with fireplace, refitted kitchen, utility and storage space an en suite bathroom on the master bedroom.


The exterior features of the property offer; a large garage with ample space for cars, tools and maybe exercise equipment – its a fantastic space that could be well utilised for not just the motor! You will also get a good sized garden with a bricked patio area and a quality looking lawn and planting areas around the borders.

I hope you all enjoyed the property this week! If this is a house that takes your fancy I would be on to the agents quickly as it is a very smart property that ticks a lot of boxes, so I am sure the agents will have had a lot of interest!


Be sure to check our blog for more insightful articles on the local property market, tips for buyers, sellers, tenants or landlords Call me on 07531484956 for a no string attached chat or email me at Lorraine@Hallandthompson.co.uk and I will get back to your query as soon as possible!

To view this property in full, please visit the following link: http://bit.ly/2bkCnNS

If you are in the area feel free to pop into the office we are based on 22 Tamar Road, Tamworth, B77 5QQ the kettle is always on.
Don’t forget to visit the links below to view back dated deals and Tamworth Property News. 

 

Don’t Let A Summer Heatwave Become A Tamworth Crime Wave!


Whether tending to the garden with the windows and doors open trying to cool your house down or just popping down to the shops and leaving the windows ajar – Whilst enjoying the Summer sun this year remember to keep your home secure whilst you are otherwise occupied.

Thieves can be in and out in as little as a couple of minutes, whilst out walking their dogs a friend of mine and her husband inadvertently left their house keys in their property. The husband climbed over their garden fence gained entry to the unlocked garage and entered the upstairs bedroom window with his ladders. I asked my friend, “Didn’t it take him long? You were lucky that a neighbour didn’t see and phone the police!” to which she replied that it had taken him less than five minutes. Which got me thinking; this is a man who is getting on and works in an office, not what you would call a career criminal who does it a few times a week… The story could have been much worse for them as I pointed out to them.


Opportunist burglars love summer for all the wrong reasons having a window often provides easy pickings for thieves in the form of laptops, handbags and car keys. Having those windows and doors unsecured provides easy access to your property. Astonishingly insurance companies last year reported a 21% increase during the summer months for these “unforced entry” claims, which many policies will not cover as they will ask homeowners “take reasonable steps to prevent loss or damage to property” leaving you out of pocket!


So take some simple steps to avoid a rain cloud forming on your horizon; remember to :-

  • Lock your doors and windows when you are outside of your property and if possible use restrictors on the windows.
  • Make sure valuables are not within easy reach or prominently on display.
  • Keep an eye out for things that may seem amiss on your street and support the neighbourhood watch scheme if there is one in your area.
  • Ensure that your home insurance needs are adequate and review your needs annually!


Just a little something to think about, I hope you all remember to keep your properties secure and to have a fantastic Summer!


Happy Days

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment. For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01827 425195, you can always email me on Lorraine@hallandthompson.co.uk
Don’t forget to visit the links below to view back dated deals and Tamworth Property www.tamworthpropertyblog.co.uk
 








26% Of Tamworth Homes Are One Person Households

I was having an interesting chat with a Tamworth buy to let landlord the other day when the subject of size of households came up in conversation.  For those of you who read my Brexit article published on the morning after the referendum, one of the reasons on why I thought the Tamworth property market would, in the medium to long term, be OK, was the fact that the size of households in the 21st Century was getting smaller – which would create demand for Tamworth Property and therefore keep property prices from dropping.
 
Looking at the stats going back to the early 1960’s, when the average number of people in a home was exactly 3, it has steadily over the years dropped by a fifth to today’s figure of 2.4 people per household. Doesn’t sound a lot, but if the population remained at the same level for the next 50 years and the we had the same 20% drop in household size, the UK would need to build an additional 5.28 million properties ( or 105,769 per year) .. When you consider the Country is only building 139,800 properties a year … it doesn’t leave much for people living longer and immigration. Looking closer to home...
 
In the Tamworth Borough Council area, the average
number of occupants per household is 2.4 people
 
When we look at the current picture nationally and split it down into tenure types (i.e. owned, council houses and private renting, a fascinating picture appears.
 
The vast majority of homeowners who don’t have a mortgage are occupied by one or two people (81% in fact), although this can be explained as residents being older, with some members of the family having moved out, or a pensioner living alone.  People living on their own are more likely to live in a Council house (43%) and the largest households (those with 4 or more people living in them are homeowners with a mortgage – but again, that can be explained as homeowners with families tend to need a mortgage to buy. What surprised me was the even spread of private rented households and how that sector of population are so evenly spread across the occupant range – in fact that sector is the closest to the national average, even though they only represent a sixth of the population.
 
When we look at the Tamworth Borough Council figures for all tenures (Owned, Council and Private Rented) a slightly different picture appears…
 
      
 1 person households in Tamworth
2 person households in Tamworth
3 person households In Tamworth
4 person households in Tamworth
5+ person households in Tamworth
26.08%
35.51%
17.68%
14.38%
6.34%


But it gets even more interesting when we focus on just private rental properties in Tamworth, as it is the rental market in Tamworth that really fascinates me. When I analysed those Tamworth Borough Councilprivate rental household composition figures, a slightly different picture appears. Of the 3,157 Private rental properties in the Tamworth Borough Council area,

 
·                                29.6% of Private Rental Properties are 1 person Households
·                              34.3% of Private Rental Properties are 2 person Households
·                              18.6% of Private Rental Properties are 3 person Households
·                              11.1% of Private Rental Properties are 4 person Households
·                              6.1% of Private Rental Properties are 5+ person Households

As you can see, Tamworth is not too dissimilar from the national picture but there is story to tell.
 
If you are considering future buy to let purchases in the coming 12 to 18 months, I would seriously consider looking at one and two bed apartments/houses. Even with the numbers stated, there are simply not enough one and two  bed apartments/housesto meet the demand.
 
They have to be in the right part of Tamworth and priced realistically, but they will always let and when you need to sell, irrespective of market conditions at the time, will always be the target of buyers. 
 
To read more articles on the Tamworth Property Market and where I consider best buy to let deals are in Tamworth, please visit the Tamworth Property Market Blog www.tamworthpropertyblog.co.uk

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Tamworth Property Market together with regular postings on what I consider the best buy to let deals in Tamworth, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch!  email me olorraine@hallandthompson.co.uk

Don’t forget to visit the links below to view back dated deals and Tamworth Property News. 
 
 
 
 
 
 
 
 
 
 
 

Buy-to-let Opportunity Spotted In Leyfields, Tamworth

Hey folks, another share of a good buy-to-let investment that I have come across on my travels. The property is a three bed mid terraced house on Masefield Drive, Leyfields advertised by our friends at Mark Webster & Company. On the market for £125,000 this property is definitely full of potential.

The property could certainly do with a bit of updating as in my opinion many of the rooms have old fashioned decoration styles, but you might be able to get away with them, same with  the kitchen which whilst looking to be in good working order is very dated. The bathroom surprisingly is not  too bad and whilst being basic it is bright and modern. This home is ideal for renters who have a family or are looking to start one due to the great storage space that could be achieved, decent sized garden and vicinity to the town centre and all of the perks that come with that.

I would expect this property to achieve at least £650 rental income per calendar month which would equate to an annual yield of around 6.2% on the purchase price of £125,000. Cosmetic changes if you opt to carry them out to the property, would be minimal as there is nothing majorly wrong to do.

All in all a great property, let me know what you think by commenting. If you have any questions about properties in the local area or are looking to buy, sell or invest feel free to email me at Lorraine@Hallandthompson.co.uk and I will get back to you ASAP!

To view this property in full please visit the following link: http://bit.ly/2aAaEKU

Buy-To-Let Opportunity Spotted In Caledonian. Glascote, Tamworth

Hi guys, quick share with you today with a buy-to-let property that I have seen whilst looking around. It is on the market with our friends at Hunters for £99,950 – for that you are getting a spacious three bed terraced house with front and rear gardens, not bad!

Renovation wise, a couple of the rooms could do with neutralising as they are very choice colours that I would not necessarily have picked and the kitchen could do with perhaps a tiny bit of decoration as currently it only seems to be half painted, however all the fittings seem to be in working order and suitable for this type of BTL property. The bathroom is modern and looks fairly new.

This would make an ideal property for the Tamworth letting scene due to it’s location near amenities, local road networks, storage space and suitability for families looking to rent.

On to the money – for your initial investment of £99.950 + low decoration costs you would be looking at a monthly rental income of approximately £550 which would equate to an annual yield of 6.6%. I would suggest on this property to be willing to accept tenants on DSS due to the area being an ex-council locale.

All in all a good property for those looking to get on the buy-to-let ladder, if it has peaked your interest be sure to give the agents a ring to book a viewing – and if you would like advice on a property or are looking to buy, sell or let – drop me an email at Lorraine@Hallandthompson.co.uk.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment. For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01827 425195, you can always email me on Lorraine@hallandthompson.co.uk
Don’t forget to visit the links below to view back dated deals and Tamworth Property www.tamworthpropertyblog.co.uk

 

To view this property in full, please visit the following link: http://bit.ly/2aMNhyn

Property of The Week! Picturesque Barn Conversion, Wiggington, Tamworth

Hello and welcome to another Tamworth “Property of The Week!” And for those of you who may be new here this article is a guide to all the best and brightest properties on the market in the local area and today I have got something really special to share with you all.

Advertised by our good friends at Dixons this lovely property is on the market for offers in the region of £400,000 and for that you will be getting a modern, three bed barn conversion on the lovely rolling countryside of the village of Wiggington, just outside Tamworth. The master bedroom features an en suite and other rooms include a rustic kitchen, a family bathroom, dining room and a cosy living room.
Key features of the property include exposed brickwork interiors, high ceilings, a wood burning fireplace in the lounge as well as beams adorning each room.

 

As many of the regular readers of this blog will know, I am an absolute sucker for a property with good views and great gardens of which I am pleased to say this property has in abundance with the grass being quite possibly the greenest that I have seen in my life!

So if you are down for a countryside retreat or just looking for some rooms with a view this could quite be the property for you – be sure to get an appointment with the agent if you like it as I am sure it is getting plenty of interest with the agents!

I hope you enjoyed today’s article – If you have got any questions call me, Lorraine on 07531484956 or email me at Lorraine@Hallandthompson.co.uk to discuss property you may be thinking of buying, selling or letting and see what we can do for you! Be sure to check “The Tamworth Property Blog” regularly for all your local, up to date information on the local property market!

To view this beautiful property in more detail please click the following link: http://bit.ly/2anzFHp

The Tamworth Love Affair with its 7,100 Terraced Houses

Call me old fashioned, but I do like the terraced house.  In fact, I have done some research that I hope you will find of interest my Tamworth property market blog reading friends!
 
In architecture terms, a terraced or townhouse is a style of housing in use since the late 1600’s in the UK, where a row of symmetrical / identical houses share their side walls. The first terraced houses were actually built by a French man, Monsieur Barbon around St. Paul’s Cathedral within the rebuilding process after the Great Fire of London in 1666.  Interestingly, it was the French that invented the terraced house around 1610-15 in the Le Marais district of Paris with its planned squares and properties with identical facades. However, it was the 1730’s in the UK, that the terraced/townhouse came into its own in London and of course in Bath with the impressive Royal Crescent.
 
However, we are in Tamworth, not Bath, so the majority of our Tamworth terraced houses were built in the Victorian era.  Built on the back of the Industrial Revolution, with people flooding into the towns and cities for work in Victorian times, the terraced house offered decent livable accommodation away from the slums. An interesting fact is that the majority of Victorian Tamworth terraced houses are based on standard design of a ‘posh’ front room, a back room (where the family lived day to day) and scullery off that.  Off the scullery, a door to a rear yard, whilst upstairs, three bedrooms (the third straight off the second).  Interestingly, the law was changed in 1875 with the Public Health Act and each house had to have 108ft of liveable space per main room, running water, it’s own outside toilet and rear access to allow the toilet waste to be collected (they didn’t have public sewers in those days in Tamworth – well not at least where these ‘workers’ terraced houses were built).
 
It was the 1960’s and 70’s where inside toilets and bathrooms were installed (often in that third bedroom or an extension off the scullery) and gas central heating in the 1980’s and replacement Upvc double glazing ever since.
 
Looking at the make up of all the properties in Tamworth, some very interesting numbers appear.  Of the 31,154 properties in Tamworth …
 
7,650 are Detached properties (24.5%)
11,870 are Semi Detached properties (38.1%)
7,111 are Terraced / Town House properties (22.8%)
4,377 are Apartment/ Flat’s (14.0%)
 
And quite noteworthy, there are 146 mobile homes, representing 0.4% of all property in Tamworth.
When it comes to values, the average price paid for a Tamworth terraced house in 1995 was £45,500 and the latest set of figures released by the land Registry states that today that figure stands at £146,420, a rise of 222% – that’s not bad at all is it.
 
But then a lot of buy to let landlords and first time buyers I speak to think the Victorian terraced house is expensive to maintain.  I recently read a report from English Heritage that stated maintaining a typical Victorian terraced house over thirty years is around sixty percent cheaper than building and maintaining a modern house- which is quite fascinating don’t you think!
 


Don’t dismiss the humble terraced house – especially in Tamworth! 

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Tamworth Property Market together with regular postings on what I consider the best buy to let deals in Tamworth, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch!  email me olorraine@hallandthompson.co.uk

If you are in the area feel free to pop into the office we are based on 22 Tamar Road, Tamworth, B77 5QQ the kettle is always on.
Don’t forget to visit the links below to view back dated deals and Tamworth Property News.