During these trying times of National and Local Government spending cuts, councils must find ways of surviving the deep cuts they all must make.
More and more, Local Councils must find ways of raising cash quickly and it seems that in Tamworth one way of plugging the deficit is by selling off some of the Social Housing. Once an area of many Council Houses today we find that many are now privately owned or privately rented.
The latest statistics show that Social Housing makes up just 19.8% of a Town which was once famed for being one of the first, after the Second World War, to build high quality council houses en masse. Now a days we are finding that many applicants are applying and demand currently far out weighs supply. The website Finding a home in Tamworth counts the amount of applicants per cycle per house – and we can see from the latest one that only one house became available and had 47 people bid on it, clearly there is large local demand for affordable housing.
This led me curiously looking to see if I could find out the total amounts of applicants still waiting for housing, well we can see that from 2013 to 2014 (which are the latest figures) a drop of just 56 applicants occurred, so there is clearly demand in the areas where these housing sell offs are happening. Many of these housing “sell offs” are still at a fantastic prices for example this three bedroomed house in Chapelon is just £99,950. We would expect to achieve rent of £650. pcm which would earn an annual yield of 7.80% – And houses in this area are still rising, as more and more are becoming privately owned so now might be the last opportunity you get to buy into the market before it’s propelled into the stratosphere.
It’s time for Tamworth savvy private landlords to sweep in and fill the gaps, in a time where more and more people are in work in the area and a lack of social housing, you could be doing yourself and those unable to find houses to rent in the areas a favour – it’s a win win situation for both tenant and landlord and that’s one of the great reasons why houses are fantastic investment opportunities – not only are you making great yields for yourself, you’re also helping those people out who rely on Local Authority Housing, which is frankly inadequate at the moment.
It’s that time of the week again, where I share with you all, a fantastic local property of exceeding quality, dubbed our “Properties of The Week” these magnificent buildings are the very best the region has to offer in terms of quality and price. Although these homes aren’t for everyone, this blog is intended to show you all what fabulous buildings are in the local area.
I often talk about being the Lord or Lady of a property, this week I am offering you a chance to be the King or Queen with an awesomely ancient property, advertised by our good friends at Mark Evans & Co. of Tamworth. This impressive home has a guide price of £755,000.
Parts of this amazing property date from 1509 and have been restored to a high standard as the property is a Grade II listed building. The interior is very tastefully decorated and fitting for a property of it’s stature. Key features include access to the canal a colossal garage which is perfect for hobbyists and cars alike! The property has a crenelated tower with interior living space and a patio area on the roof ideal for surveying your lands or just basking in the warm summer sun! The very large garden contains a beautiful wrought iron dome and a few cannons to deter the pesky parliamentarians from attacking… Seriously – this property has cannons in the garden! (I’m pretty sure that nobody would attack you though!)
All in all a wonderful property the types of which rarely come onto market in such a good condition and one that I’m sure anyone would love to live in! But what do you think? Drop me a comment and let me know!
Getting the right advice is important with properties, especially where an expert opinion can be the difference between success and failure, if you would like local, trusted advice from someone who is devoted to their job and working with people to bring only the best results please call me, Lorraine.
For more information about the featured property, please visit the following URL:
Hey everyone, I hope you’re all doing fantastic now the sun is back shining in the sky! Today I’ve come up with an interesting read for you all today that I hope you’ll all enjoy about the house prices in the local area over the last few years, some very insightful information for you all here!
Since 2012, Tamworth has had a steady growth in the prices of the average property, I’ve took the statistics from two websites, Home.co.uk and Zoopla both show slightly different growth.
If you are not familiar with it, Home.co.uk is a website that features houses from websites such as Zoopla and Rightmove so they have more statistics to share, whereas Zoopla have agents post properties directly to them, this means that although Zoopla is a good source of information, Home has more accurate data, explaining the massive rise in 2013.
Halifax estimate a 10% rise and Nationwide estimate 9%, so we see that although Zoopla is slightly higher it’s not too far out but Home.co.uk is right on the money.
Remember though, It’s always important to do your homework and get sources from multiple places. Advice is a key thing too, I am local, I know the area better than the big business’ who just see you as another number and I always do my homework before giving you advice on what to do! so if you’d like to talk about Property Investment in Tamworth or the surrounding areas, contact me!
If you’ve ever been to a property auction you may be aware that newbies sometimes get over excited and pay a premium for a property. The savvy landlords out there may be interested in the little number I’ve just found, its’ being advertised by Auction House and is being auctioned on 11th June at Bank’s Stadium, Walsall.
The non standard construction (Wates) house has a guide price of £77,500 and that’s not a bad price if you can purchase at this. Looking at recent sold prices in this road, I noticed that a 3 bed mid terrace was sold July 2014 for £118,500, yes it had been faced up, but even so this 2 bed is still a good price.
This mid terrace property is located in a popular residential area, is close to local amenities and favoured schools. The house which is in need of a kitchen and possibly a bathroom though there are no pictures of the bathroom to confirm either way. The house also needs some TLC.
It should rent out pretty quickly. I would expect to achieve rent of £595pcm giving an annual yield of 9.12% much better than what the banks are offering! I have not calculated the refurbisment costs so this needs to be taken in consideration before signing on the dotted line. This sounds like a win-win situation for an investor.
Also , don’t forget you can always put in an offer to secure a property prior to the auction if you are happy to pay the book price and the deal figures work for you [LTV, Yield , refurb. costs etc.] if you believe that at the auction date the book price is going to escalate.
But always remember to get the best advice and expert opinions you can. Speak to me, speak to others and most importantly do your homework. As long as landlords buy the right sort of property, that allow for a reasonable yield and/or decent capital growth, everyone will be a happy winner.
For any more advice, feel free to give me a call. 07531484956
Another busy week has just flown by and I’ve been looking around for our property of the week to share with you all. If you’re new to this, blog our property of the week is a showcase of the most spectacular houses in the local area and week by week, we pick what we think is the type of house you may be dreaming of buying!
I come across this outstanding country house advertised by Right Estate Agents of Birmingham, it had been listed back almost a year ago as previously mentioned in this blog from last week. The owners have increased the asking price on this property since first listing from £850,000 to £925,000… So you would hope that this one is going to be something spectacular (and it is!)
This beautiful house located just on the outskirts of Tamworth, in the charming village of Shuttington, is like something out of a fairytale. The last few weeks I’ve featured country homes that are all fantastic but this is possibly the best one yet. The property sits on a massive 1.2 acres of land and is regally decorated throughout, it’s lovely – like something out of the Country Homes & Interiors magazine. Features include 6 very well proportioned bedrooms (5 of which have en suites) and some of the most astounding outdoor features on a property I’ve ever seen. This house comes with it’s own crown bowling green, fruit cage and kitchen gardens with numerous ponds, chicken houses and a summer house in the immaculate gardens that you will definitely need a ride on mower for!
I hope you all liked this blog and found it informative, I would love to see your comments below about this or any other fantastic properties you may have seen locally!
This property is courtesy of Right Estate Agents, and if you would like to see it in more detail, please visit the following link:
Number of properties for sale
There are currently 156 properties for sale in Tamworth on web portals.
Recently added Tamworth properties
Most recently added ‘for sale’ listing in the Tamworth area is a 3 bedroom semi-detached house displayed as “Torc Avenue, Glascote, B77“, which was put on to the market on 24 May 2015 for £136,000.
Most Expensive Tamworth property
The property with the highest asking price in the Tamworth area at the moment is “New Road, Shuttington, Tamworth, B79“. It came on to the market on 29 Jun 2014 for £850,000. On 04 Aug 2014, the price was raised to £925,000.
Cheapest Tamworth property
The least expensive property listing in Tamworth at present is “Blythe Street, Glascote, Tamworth, B77“, which was first added to the market on 13 Oct 2014, with an original asking price of £54,000. The asking price has never been changed. This is a shared ownership property.
Property in Tamworth with reduced asking prices
Of all the properties currently for sale in the Tamworth area, 55 have seen discounts to their initial asking prices. If you’re looking for a discounted property in Tamworth, “Cheviot, Wilnecote, Tamworth, Staffordsh…” may be of interest. Its selling price has recently been reduced from £105,000 to £85,000 making it the property with the largest price reduction in Tamworth.
Tamworth property market data
Properties being sold in the Tamworth area stay on the market for an average of 198 days.
Oldest listing in Tamworth
The property which has been listed for sale for the longest period of time is “Freville Close, The Leys, Tamworth, Staf…“. It has been listed for sale for sale since 02 Jun 2009.
Property sold in Tamworth, Staffordshire
In total, 1200 transactions have been recorded by Land Registry in the past twelve months in the Tamworth, Staffordshire area. Of these, 370 were detached properties, 420 were semi-detached properties, 321 were terraced houses and 89 were flats.
According to information, the most recent transaction in Tamworth, Staffordshire was for 1 The Laurels. It sold on 27/03/2015 for £249,950.
Glebe House sold for £1,225,000 on 13/11/2014, making it the most expensive property sale in Tamworth, Staffordshire in the last twelve months.
The least expensive property transaction in Tamworth, Staffordshire over the last 12 months was 49 Queens Way. It sold on 02/06/2014 for £27,000.
Information courtesy of Mouseprice.
It doesn’t matter if you are a landlord of ours or not, or someone on the verge of investing in the rental market for the first time, why not give me a call 07531484956 or pop in and see me. I make a decent cup of tea, I can’t say the same about my coffee though.
Now I know the housingmarket in the area quite well, they are looked after and the street is a pretty nice little suburb with fantastic local amenities not too far away and great road links, so why isn’t this property selling?
Perhaps what’s putting off the sale of this property is the sitting tenant. Landlords might have been put off because of the high start price and not given it the second glance it deserves. I think it would be silly not to put an offer lower than the £85,000 price tag it currently has – the reason being it’s been on the market for a while and the tenant may be coming to the end of their tenancy agreement so of course after that there would be the void between buying and re-letting or renegotiating an agreement – which is only a bad thing, assuming the terms of the tenancy are mutually beneficial to landlord and tenant, you could potentially be losing a loyal tenant who may have been the ideal renter.
Back to the Cheviot property. We know from Dixon’s, the agents, that there is currently a tenant in situ with a 12 month tenancy agreement, unfortunately I don’t have information on the current rent. I would estimate rent on this particular property to be at around £425per calendar month, so you could possibly achieve a yield of 6%
The property does look to be in fairly good condition but due diligence would definitely be required by the potential landlord, as I say to all people whom I talk with, homework is one of the most important things to do before buying a property in regards to condition and especially about the tenancy agreement that an existing tenant will have signed.
All in all, this a good opportunity for anyone – but it’s certainly one that would need some careful consideration before commiting to purchasing. Anything that may happen with it, one would need to lend a thought to the current tenant. Who knows, this tenant may even want to stay on.
I hope you found this article to be informative and insightful and I’d love to hear your feedback about what you may think, please leave a comment below! If you would like to contact me about this featured article or any other property investments you may be thinking of I am available by phone on 07531484956 alternatively you can email me at email@example.com
Cheviot Property advertised by Dixons Estate Agents. If you would like to view the property, you can do so at:
Last week I was at a business networking meeting (I’m not plugging this) and met a plasterer who was also an investor. His portfolio consisted of ex local authority houses, four bed if possible, as he could get these for a decent price and the rental gave him a good return[and only ‘swore’ by this type of property]. Albeit he wasn’t as fussy as some landlords, as to who he rented too. Well I’m one who likes to wind the men up and thought I’d challenge his views, after all, are not one bed flats equally as good a return and sometimes less hassle than large number of bedroom properties. Anyway, we agreed to differ and I decided to look into Tamworths flats in a little more detail, this is what I have found….
You can buy a one bedroom flat in Tamworth for a reasonable price of £85,000 and these can rent for up to £495pcm, depending upon the condition and the location of the flat. If a landlord was to put down a deposit of £17,000 (20%) and borrowed the rest, even after the mortgage, service charge and property management fee, there could still be a nice little cash flow.
I hope you all had a marvellous long weekend break, better than the weather anyway! I suppose at least the rain held off, it was just a very cloudy sky giving the threat of it!
Today, I have another dream property to share with you all as it’s time for our “Property of The Week” article. As regular readers may know, these properties are all about the exceptional houses which are the best and most beautiful homes that the local area has to offer.
The fantastic property we have today is a Grade II listed Georgian manor house located in the sleepy village of Newton Regis, just outside of Tamworth. It is advertised by our good friends at Mark Evans with a guide price of £895,000.
This 7 bedroomed behemoth maintains a lot of its classical trappings such as the high walls, massive feature fireplaces in nearly every room and a large kitchen stove. This traditional home will not be to everybody’s taste as many may think it to be old fashioned, but I believe that this is what gives it extra charm, it’s one of those houses that are the quintessential meanings of Britishness.
The property comes with huge gardens as expected from a property of it’s age and an assortment of buildings on the outside including a paddock, garages, a detached barn and outhouses, (I believe that the current owners keep a couple of donkeys on the land as well as dogs!) The property has side access to the picturesque village duck pond so it’s definitely one for those who would love to keep animals or are perhaps looking to ease themselves into a quieter pace of life.
Warning to Drivers wishing to use the A5 by-pass!
Currently due to road works on the A5, access to the Wilnecote West bound slip road (the one by the Centurion Pub that heads to Lichfield) is unavailable due to roadworks making the road permanently shut until work completes. The roads that drivers are advised to divert down are the B5404, locally known as the “old A5” or to divert East bound towards the Moto Service Station and divert around the round-about, the road is estimated to re-open at the end of June.