Potential Buy-To-Let Property Spotted In Greatmead, Tamworth.

I’ve Spotted a lovely little house in Wilnecote today on the market with agents at Green & Co. for £130,000, looking online the house is a little old fashioned for my taste but otherwise looks to be in fantastic condition and may be ideal for an elderly couple.

The property is a three bed mid terrace with good sized front and rear gardens with well proportioned rooms suitable for both new and older families.

I would definitely be tempted to put a lower offer than the current price as recent sales have been under the current price being asked. You would be looking to achieve at current prices a monthly rental income of £650pcm, which would equate to an annual yield of 6% which of course could increase if you are not afraid of putting that cheeky offer in!

If you are looking to buy, sell or let be sure to drop me a line by email, phone or any of our social media and I will get back to you at your earliest convenience.

https://www.facebook.com/Hallandthompsonestateagents     Twitter     Website

Why not drop us a “Like” on Facebook, “Follow” us on Twitter or visit our website for more tips and alerts on the Tamworth property market!

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

Only 35.6% of Tamworth Rented Property have Children living in them.

A few weeks ago I was asked a fascinating question by a local Councillor who, after reading the Tamworth Property Blog, emailed me and asked me – “Are Tamworth Landlords meeting the Challenges of tenanted families bringing up their families in Tamworth?”
What interesting question to be asked.
Irrespective of whether you are tenant or a homeowner, to bring up a family, the most important factors are security and stability in the home. A great bellwether of that security and stability in a rented property is whether tenants are constantly being evicted. Many tenancies last just six months with families at risk of being thrown out after that with just two months’ notice for no reason.
Some “left leaning Politican’s” keep saying we need to deal with the terrible insecurity of Britain’s private rental market by creating longer tenancies of 3 or 5 years instead of the current six months. However, the numbers seem to be telling a different story. The average length of residence in private rental homes has risen in the last 5 years from 3.7 years to 4 years (a growth of 8.1%), which in turn has directly affected the number of renters who have children. In fact, the proportion of private rented property that have dependent children in them, has gone from 29.1% in 2003 to 37.4% today.
Looking specifically at Tamworth compared to the National figures, of the 4,042 private rental homes in Tamworth, 1,439 of these have dependent children in them (or 35.6%), which is interestingly (although expected) below the National average of already stated 37.4%.
Even more fascinating are the other tenure types in Tamworth…
·         36.7% of Social (Council) Housing in Tamworth have dependent children
·         45.4% of Tamworth Owner Occupiers (with a Mortgage) have dependent children
·         7.3% of Owner Occupiers (without a Mortgage) have dependent children
 
Although, when we look at the length of time these other tenure types have, whilst the average length of a tenancy for the private rented sector is 4 years, it is 11.4 years in social (council) housing, 24.1 years for home owners without a mortgage and 10.4 years of homeowners with mortgages.
Anecdotally I have always known this, but this just proves landlords do not spend their time seeking opportunities to evict a tenant as the average length of tenancy has steadily increased. This noteworthy 8.1% increase in the average length of time tenants stay in a private rented property over the last 5 years, shows tenants are happy to stay longer and start families.
So, as landlords are already meeting tenants’ wants and needs when it comes to the length of tenancy, I find it strange some politicians are calling for fixed term 3 and 5 year tenancies. Such heavy handed regulation could stop landlords renting their property out in the first place, cutting off the supply of much needed rental property, meaning tenants would suffer as rents went up. Also, if such legislation was brought in, tenants would loose their ‘Get Out of Jail card’, as under current rules, they can leave at anytime with one months notice not the three or six month tenant notice suggested by some commenters. 

Finally, there is an extra piece of good news for Tamworth tenants. The English Housing Survey notes that those living in private rented housing for a long periods of time generally paid less rent than those who chopped and changed.


If you would like to read other articles about Tamworth Property Market, please visit the Tamworth Property Market Blog 




 

One Bed Buy-to-Let Opportunity Spotted In Kingsbury – Tamworth (B78)

Found a good opportunity for any landlords looking to expand their portfolio on Rightmove, the property is a one bed semi detached house on the market for £112,000.

Located on Sorrel Drive, just outside of Kingsbury and comes with no upward chain and pretty much no renovation or decoration needs doing – ideal for getting a tenant in straight away!

Money wise you are looking at a monthly rental income of £495 which works out to an annual yield of 5.3% and I could see the house being sought after by both young professionals or older people who do not have families – you don’t see many one bed houses on the market so if you are interested get a viewing as soon as you can!

If you would like to know where is best to invest in the Tamworth area or want some tips on how to maximise the income potential on your investment property long term, then give me a call on 07531484956 and see what I can do for you!
To view the property in full please visit the following link: http://bit.ly/2cr8qNF

If you see a property that you are interested in and not sure, drop me the link and I’ll give you my honest opinion.

https://www.facebook.com/Hallandthompsonestateagents     Image result for twitter logo 64x64     Image result for ico 64x64

Why not drop us a “Like” on Facebook, “Follow” us on Twitter or visit our website for more tips and alerts on the Tamworth property market!

A Tamworth Landlords Tale…….


Marketing your property correctly is a key factor when managing your investment. You want the best possible rent but you also want a good quality long term tenant who can move in at a time that minimises any void period. Often there are compromises to be considered. Got a great tenant but time scale is a bit adrift? Timing is great but the tenant wants appliance’s supplied that you had not budgeted for? These issues can make a difference to the short and long term costs i.e. on your return from your investment.

One of my tenants in a terraced house on the Leys gave notice to leave in July. I was about to go on holiday so quickly put it on the market at £725.00pcm and jumped into my car for the airport. The kitchen and bathroom has recently been refitted and I was keen to see an enhanced rent over and above the rent I was getting from a very long term tenancy. After all the market is very strong and of course you can let anything at the price you want can’t you?


 
Back from holiday 2 weeks later I reviewed the progress. We had had only 2 viewings and no one keen to take the property. I realised very quickly that I had acted in haste and ignored my own advice that I dispense every day.

Do your price research properly and do not think you can buck the market trends unless you are letting something exceptional. (I reduced the price £30 to £695, the lettings market is more dynamic that the sales market and a small reduction is often enough to make a real difference).

Make sure the photographs are good quality and up to date. (I had no photos of my nice new kitchen, or bathroom, instead I was relying on the strength of the market to be enough to find me a tenant).
Make sure the description is well written and in full with room sizes and descriptions. Make the property sounds attractive by pointing out its main features. (In this case a private garden, new bathroom and kitchen ).

These adjustments were put in place very quickly with a significant response. Six viewings across four days and two applicants that were keen to take the property…I had a choice of two great applicants with flexible timescales, the ideal scenario for any landlord.

So you can see how a busy estate agent can sometimes not get the marketing right even when the property is their own. I guess I could claim to be too busy looking after my landlords to look after myself properly!

If you are trying to let and not getting the right results consider the action above or ask why your agent has not done so.


If you would like to read other articles about Tamworth Property Market, please visit the Tamworth Property Market Blog 

 



Why not drop us a “Like” on Facebook, “Follow” us on Twitter or visit our website for more tips and alerts on the Tamworth property market!













“Property of The Week!” House Of Harmony In Harlaston, Tamworth

Another beautiful “Property of The Week!” to share with you all today and as per the usual this one is exceptional with every detail perfectly paired to the character of this house it surely is not one to miss!

Advertised by agents Parker Hall this grand 4 bed property has a guide price of £525,000 but for that price you are most certainly getting a lot of house with large rooms throughout and that bespoke high quality presence in every room from the kitchen to the fitted bedrooms. Personally I myself think one of the best features of this house is the rear sun lounge overlooking the mature established gardens which from the photographs seem an utter delight to be in over Summer (so judging from this one you’ll be getting a lot of time in it!)

The property also comes with a detached garage and workshop which is fantastic if you are a bit of a tinkerer but do not expect to be doing much work round this house as I personally think it is marvellous as is. So if you fancy a bit of country side living and are fortunate enough to have the capital, be sure to give the agents a ring and get a viewing of this dream house.

A property treat this week and a home I absolutely love but more importantly I hope that you all enjoyed it as much as I did be sure to let me know by dropping me a comment. If you have any questions about property, whether buying, selling or letting – drop me an email at Lorraine@hallandthompson.co.uk  and see what we can do for you!

To view this property in full please visit the following link: http://bit.ly/2c6foZM

  

Why not drop us a “Like” on Facebook, “Follow” us on Twitter or visit our website for more tips and alerts on the Tamworth property market!

“Should I make an Offer”? Buying in Tamworth

As a buyer you are in a powerful position, both in terms of the effect your buying decision will have on your own life, and on that of the person from whom you buy.  

 

If buying a property were some form of commodity like petrol or milk, then you would simply buy the cheapest stock available. However, buying a home is much less mercenary, and emotions run high.   

Over the years, home buyers have become used to the idea of making a “starting offer” below the asking price, but it might be worth considering a few aspects of the implications of making a low offer. 

Firstly what does a low offer say about you to the vendor? That you don’t have the money and that any subsequent increase might stretch you beyond your ability to complete the purchase? Does it suggest you don’t really like their home, risking offence? A low offer can often start off the relationship with the vendor on the wrong foot.

 

And what if your low offer is accepted? Will the vendors experience regret and continue to market the property hoping to find a higher price with someone else? The chances of such a buyer being found are high as people usually want a property that someone else wants. We receive more interest about properties which are “under offer” than we do about those for sale!  There is a high  risk of being gazumped. 

In the meantime, if you would like to read other articles about Tamworth Property Market, please visit the Tamworth Property Market Blog 

 









New House Building in Tamworth increased by 172.5% in the last year

Let me speak frankly, even with Brexit and the fact immigration numbers will now be reduced in the coming years, there is an unending and severe shortage of new housing being built in the Tamworth area (and the UK as a whole).  Even if there are short term confidence trembles fuelled by newspapers hungry for bad news, the ever growing population of Tamworth with its high demand for property versus curtailed supply of properties being built, this imbalance of supply/demand and the possibility of even lower interest rates will underpin the property market.
When the Tories were elected in 2015, Mr. Cameron vowed to build 1,000,000 new homes by 2020.  If we as a Country hit those levels of building, most academics stated the UK Housing market would balance itself as the increased supply of property would give a chance for the younger generation to buy their own home as opposed to rent.  However, the up-to-date building figures show that in the first three months of 2016 building starts were down.  Nationally, there were 35,530 house building starts in the first quarter, a long way off the 50,000 a quarter required to hit those ambitious targets.
Looking closer to home, over the last 12 months, new building in the Tamworth Borough Council area has grown.  In 2014/15, for every one thousand existing households in the area, an additional 1.24 homes were built.  For 2015/16, that figure is now 3.38 homes built per thousand existing households.  Nationally, to meet that 1,000,000 new homes target, we need to be at 7.12 new homes per thousand.

To put those numbers into real chimney pots, over the last 12 months, in the Tamworth Borough Council area,

·         110 Private Builders (e.g. New Homes Builders)
·        Nil   Housing Association
·        Nil   Local Authority
These new house building numbers are down to the fact that not enough is being done to fix the broken Tamworth housing market.  We are still only seeing 110 new homes being built per year in the Tamworth Borough Council area, when we need 232 a year to even stand still!
I am of the opinion Messer’s Cameron and Osborne focused their attention too much on the demand side of the housing equation, using the Help to Buy scheme and low deposit mortgages to convert the ‘Generation Rent’ i.e. Tamworth ‘20 somethings’ who are set to rent for the rest of their lives to ‘Generation Buy’.  On the other side of the coin, I would strongly recommend the new Housing Minster, Gavin Barwell, should concentrate the Government’s efforts on the supply side of the equation.  There needs to be transformations to planning laws, massive scale releases of public land and more investment, as more inventive solutions are needed.
However, ultimately, responsibility has to rest on the shoulders of Theresa May.  Whilst our new PM has many plates to spin, evading on the housing crisis will only come at greater cost later on.  What a legacy it would be if it was Mrs. May who finally got to grips with the persistent and enduring shortage of homes to live in.  The PM has already referenced the ‘need to do far more to get more houses built’ and stop the decline of home ownership.  However, she has also ruled out any changes to the green belt policy – something I will talk about in a future up and coming article.  Hopefully these statistics will raise the alarm bells again and persuade both residents and Councillor’s in the Tamworth Borough Council area that housing needs to be higher on its agenda.

 

In the meantime, for more thoughts and opinion on the Tamworth Property Market, please visit the Tamworth Property Blog ………






Nice Buy To Let Opportunity Spotted In Trefoil, Amington, Tamworth

Image 1 of 12: Front

Whilst looking at listings on line I have spotted this 3 bed terraced property that keeps coming on and off the market. Advertised by our friends at Calders for £124,950 it may be worth putting a cheeky little bid in, the current may accept this,  it was last listed in July 2015 for £125,000!

I would put a monthly rental income on this property at around £600 per calendar month which equates to an annual yield of 5.8%, but what is even better for a potential landlord is that it looks in a good condition and rentable pretty much from week one! If you are interested I would definitely get
an appointment to view and do not be afraid to put in that lower offer in on this one!

Just a quick little blog to highlight a good potential addition to any buy to let portfolio, To discuss this or any other property drop me an email at lorraine@hallandthompson.co.uk  and remember to “Like” us on Facebook and “Follow” us on Twitter. For more exciting property listings, visit our website for more tips and alerts on the Tamworth property market! The links are down below!

To view this property in full please visit the following link: http://bit.ly/2bXO4gr

https://www.facebook.com/Hallandthompsonestateagents     Image result for twitter logo 64x64     Image result for ico 64x64

Why not drop us a “Like” on Facebook, “Follow” us on Twitter or visit our website for more tips and alerts on the Tamworth property market!