Don’t hold your breath thinking the election will cure the Tamworth property shortfalls!

The 7th May 2015 is looming like a runaway train. All  the parties are furiously trying to win voters with policies and  promises of Utopia.
Image result for images of polling stations

 

There are 43,864 renters in Tamworth, a large proportion of these are in private rented accommodation.  In what’s thought to be a a tight election, every vote is crucial.

The Conservatives believe that “Rent to Buy” is the solution, whereas Labour are in favour of rent caps and extended tenancy terms.

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Since the turn of the Millennium, there has been a significant change in the proportion of people who own their own homes in Tamworth. In 2001, 73.15% of homes in Tamworth were owner occupied, today the figure is 68.23% a decline in such a short time.  Buy to let landlords find that young tenants are increasing in numbers because the young, say they can’t afford a deposit to buy, unless of course, parents finance them. Today’s young folk have different values, it used to be, that saving for a deposit was the number one priority and you went without to save up, now though owing a property is no longer high on their list.

After the war millions of council homes were built to keep up with the demand. Large council estates shot up from nowhere and Tamworth became known as the Birmingham overspill as large numbers of people flocked here to begin a new life.
Private house building also increased, and as the Country became more prosperous in the early 1970’s, there were more home owners than renters. As the population has steadily grown, the same cannot be said for the number of properties being built. In fact since the 1970’s, the number of new properties being built hasn’t kept up at the same rate. The boom in property prices hit us in the late 1980’s and again in 2004, are we due another boom?

Image result for images of 95% mortgage offersFirst time buyers have been able to obtain 95% mortgages since 2009. This should have helped them get on the property ladder, but as first time buyers save their deposit, house prices rise and their deposit is continually having to rise at the same rate. A treadmill that is not easy to get off!


New stricter mortgage rules introduced in 2014, means that most 20-25 something’s in Tamworth are renting instead of buying. We can’t blame landlords for this, they are not responsible for buying up all the property. For every mortgage approved for a landlord last year, three were approved for first time buyers! 

Tamworth V Lichfield – to buy or not to buy

Hello everyone, I hope you’re all feeling as good as the weather has been! Today I have something a little bit different from the regular to share with you. We have two fantastic houses of nearly similar build in the area – one in Tamworth and the other in Lichfield, showing the differences just a few miles can make.

We’ll start off with our beautiful Tamworth home, located on the Buckingham Road and advertised with our good friends Smith’s Estate Agents on Rightmove.

The house is a very spacious four bed roomed detached with an asking price of £225,000. You can see from the pictures that the house is well maintained and ready to immediately move into with very minimal decoration / renovations needed as the bathroom and kitchen have just been refitted.

For a house of this calibre you would be looking for a monthly rental income of £995.00 which  if purchased for the £225,00 asking price would equate to a yield of 5.30%.

Lichfield Cathedral
If you don’t know much about Lichfield, I would say it has to be one of the quaintest cities in the Midlands, compared to Tamworth it has very few housing association homes/local authority homes built and the city retains much of its historical architecture, featuring a medieval cathedral  and  only being mildly touched by the concrete brush of the 1960s. This in part helps the houses in Lichfield to retain much of their value but also enables landlords to have an easier time letting in the area due to a higher demand; albeit the initial price costing more.

In this example, a house of similar square footage and build is £90,000 more than the asking price just under 6 miles away, however, this really doesn’t detract from the beauty of the area.

So onto our second smashing house located in Freeford Gardens, Lichfield advertised by Hunters Estate Agents on Rightmove.

 


The house is very similar in proportion to the Tamworth house  and was last sold in 2013 for 265,000 and is now being advertised with an asking price of £315,000 which is a whopping £50,000 increase in just 3 years.

We would estimate the house would attain a monthly rental income of £1015 which equals a yield of around 4.06% if the property is bought at the £315,000 asking price.

The houses in Tamworth will cost you less and give you higher yields but by many Lichfield is viewed as a quainter place to live, however as you can see – in both places the right houses are as lovely as each other.

So the choice is really yours to make will it be The Castle or The Cathedral?

For more information on the featured properties, they can be viewed in full at the following links.
http://bit.ly/1DjuwG7 – The Tamworth Property

http://bit.ly/1PkwbTo – The Lichfield Property

Get the best advice and opinion you can. Speak to me, speak to others, do your homework. As long as landlords buy the right sort of property, that allows for a reasonable yield, decent capital growth, everyone will be a happy winner.

If you would like to contact me about any of the featured properties or any other property investment you might be thinking of, please feel free to contact Lorraine on 07531484956.

 

 

Tamworth – Flips N Flops

 

I recently came accross a 3 bed
terraced house on Hockley Road, Hockley that was sold in June 2014 for £64,000, incredibly less than a year later, to be precise February 2015. It went for a great price of £130,000, now that’s what I call one cheeky little flip!

Picture 1

Tamworth – Nice little property to be snapped up

Just a quickie!

I noticed this nice little property just added on Rightmove and being advertised with our friends Bairstow Eves. It’s a 3 bed semi in Hawkside, Wilnecote, on sale at £160,000.

 
http://bit.ly/1IzN8aM

The agents appear not to state whether it’s leashold or freehold. According to land registry, when last sold  in 2005 it was leashold. When buying a property leashold, it’s always advisable to check the term left on the lease, your solictor gets paid to do this.

I’m not sure I would pay £160,000 for the property even though it’s immaculately decorated inside. I need to do some research, as I’m probably out of touch, with current prices in this area. I think I’ve found a topic for my next blog!

Anyway, I’m sure this property will get snapped up.

If you would like to discuss the featured property or if you have any queries or questions about property investment, please feel free to contact Lorraine on 07531484956.

Get the best advice and opinion you can. Speak to me, speak to others, do your homework and buy properties earmarked for growth. However, we must remember that capital growth is not the sole consideration when investing in Buy to Let properties, there is also yield.
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
I do not look at property for a quick get rich scheme, I am in property for the long haul and as such I my views are purely that.

 

Welcome back Tamworth!

I hope you all had a fabulous few days off over Easter, luckily the weather held up and I enjoyed a lovely walk around the sunny Castle Grounds over the Bank Holiday Weekend. Now with spring in full bloom, I have found a property advertised by Green & Co on Zoopla, this could be a little blossom for you!
This delightful two-bedroomed semi-detached property located in Deltic – Glascote Heath, would be a great buy to let property due to it’s location close to schools and various transport links in the area and of course demand in the area for housing.
The house was first listed at £130,000 in February but has since been lowered to £125,000, however with similar houses in the area selling for around £120,000 you may have a little leeway in regards to making an offer to the owners.
The charming interior looks to be newly renovated to a fairly high standard with a good sized family kitchen and bathroom. I would expect that the house would be in a condition to let straight away as any work that would need to be done would be very minor or just cosmetic, which of course is fantastic because it’s ready to start earning!
In a property in this particular area of Tamworth and in this condition, we would be looking for a monthly rental income of around £575 which means that if you paid the full £125,000 asking price, you would make an annual yield of 5.5%
If you would like to discuss the featured property or if you have any queries or questions about property investment, please feel free to contact Lorraine on 07531484956.
You can view the full property details on Zoopla at the following address:
http://bit.ly/1CyRWaj

Get the best advice and opinion you can. Speak to me, speak to others, do your homework and buy properties earmarked for growth, However, we must remember that yield is not the sole consideration when investing in Buy to Let properties. I do not look at property for a quick get rich scheme, I am in property for the long haul and as such I my views are purely that.

Tamworth – Tenanted property for sale – Nice little earner!

Last week, a landlord who lives in Dosthill met me for a coffee and to discuss a property that his daughter had seen in Dryden Road. She was interested it the property as it already had a renter in situ. Lucy wanted to get into the rental business and was looking at this property.

My advice was that she needed to know how much the renter was currently paying, I gave the ball park figure for this type of property and area, the rest was up to Lucy. I did say that this would be a nice little property to buy and I’m sure it wouldn’t be on the market for long.

This 3 bed end terraced property is on the market with Right Estate Agents and is being advertised on Zoopla, for a conservative price of £115,000.

 http://bit.ly/1zQOK8Q
Mark my words, this won’t be available for too long, it will be snapped up.
When considering buy to let deals, yields are not always the number one factor, steady rental growth may be your main consideration. So if you are investing in Tamworth and want capital value or yield give me a call for a chat about property in Tamworth.    Lorraine 07531484956

 

Two EGG-CELLENT properties for Easter! Wilnecote and Town Centre

Hello everyone I hope you’re all ready for the Bank Holiday!

From what I’ve seen in the supermarkets there are no chocolate eggs left, but what we do have today is two cracking houses with great buy to let potential!

 

 
http://bit.ly/1F6Xfyq

 

Our fantastic first property is located in the Wilnecote area of Tamworth and is advertised with our good friends Taylor Cole on Rightmove. The asking price is £135,000 and from the exterior, it’s beautifully kept.

 

This three bedroomed terraced house is in fantastic condition throughout and I would say that any work that did need doing would be very minimal, which of course is great news as it would be available to let straight away.

This particular house would be expected to let for £650 per calendar month due to the exceptional refurbishment work that has been carried out within. This equates to a 5.77% yield, not bad for someone looking to get on the buy to let ladder or for an investor looking to expand their portfolio.


Our super second property is by no means second place, because this is another corker. 

 
This traditional looking property, advertised by Mark Webster and on the Rightmove website again
for £135,000 is located in the town centre of Tamworth, it’s another polished jewel just waiting to 
be snapped up.
The property is a two bedroomed terrace with front and a reasonably large rear garden. The interior of this house is very highly renovated. It is not often houses come up on the market in such good condition yet this week we have found two!
Based on the location and the quality of the property we’d recommend a monthly rental income of £600 from this property, equating to a 5.33% yield and I would say it again, ready to let from day one.
I hope you all have a fantastic Easter holiday and let’s hope the weather stays good and remember, if you have any queries or questions about property investment feel free to contact me.
 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
You can view the properties in more detail at the following addresses:
http://bit.ly/1F6Xfyq
 
 

A little bit of luxury! Tamworth Road, Amington

 

May I just start by saying that this property is not something we’d normally mention, but it is absolutely gorgeous, it is genuinely a luxurious property that everyone would love to own. Advertised with Dixon’s Countrywide on Zoopla, this exquisite home sits next to the beautiful waterways of the Coventry Canal.

 

 

The property was built over one hundred years ago and with an extension being added in the later years, it’s addition bumps this property to a massive five bedroomed beauty. The work on the extension looks to be of a very high quality and matches the original house. This detatched property has enclosed front and rear gardens and boasts a double garage.

 

Since it’s last sale in 2001 for £189,950 it has doubled in asking price, listed originally in August 2013 for £485,000 the owners have since reduced the price to offers in the region of £460,000 and with average values in the area set to rise I can imagine it being a great little investment.
This really is the house that has everything. Picturesque, serene and spacious, it is the ideal house for those who enjoy the finer things in life, the ideal hangout for those summer parties with friends and family or those quiet Autumn nights in the cosy, warm conservatory.
This is a lovely home, just waiting for the right person to come and make dreams in it. People say that you can’t put a price on happiness and though that may be true – when you see something like this, sometimes you can’t really be sure.
For full details of the property please visit:
If you would like to discuss your own property requirements, please feel free to drop me a line, Lorraine 07531484956.
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
 
 
 

 

 

 

Buy-to-let deals of the week: 4 bed house in Glascote, yield 9.86% against 4 bed house in Wilnecote, yield 6.95%

 

This week there’s a nice little buy-to-let opportunity of a 4 bed house in Glascote at a purchase price of £90,000, this is courtesy of our good friends Barstow Eves and is advertised on Zoopla.
 
 
 
This house would be ideal for a family of renters who were on the Local housing authority scheme. I would expect that you could achieve rent of £8874.84 per annum and paying £90,000 would get a healthy yield of 9.86%
The house looks as though it needs some TLC, but I would hope that your costs would be relatively low to get the house in a reasonable condition. Unfortunately Bairstow Eves have only taken one photograph so without a viewing it’s difficult to confirm the condition of the interior. The house is currently vacant so you may be able to get this for a lower than advertised price, making an even better yield.

Full details can be found  via the following link:

http://bit.ly/1FtyZud      


 
On the other hand if you were looking for private renters, this 4 bed house in Brambling, Wilnecote is in immaculate condition and will always attract renters. The house which is being advertised with Mark Evans and advertised on Zoopla would bring you in an annual return of 6.95%. Still a nice little earner.
 
I would expect you to achieve rent of £11,400 per annum if you were able to purchase the house for £164, 000, the house has been on the market since February and you may have  a little room to negotiate from the current asking price of £164,950.  
 
For an investor looking for a low-hassle purchase with renter demand, I don’t think you can go wrong.
 
Full details can be found  via the following link:
http://bit.ly/1DuhaM4
 
If you would like to discuss your own property requirements, feel free to drop me a line, you don’t need to be one of our existing landlords. 

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