Lovely Langar - Potential Investment Property for Sale

Langar is a sought after village within the Vale of Belvoir.  The village itself has many amenities including a primary school, post office and pub. With great transport links to Bingham, Nottingham, Grantham and Leicester, the village offers a rural base for any commuter.

The property is neutrally decorated, though there is no photo of the kitchen and so that would need investigating.  Assuming no major works are required, a landlord could see a rental yield of around 5%, which is a good return on any investment currently.

See the property details here, it is on the market for sale with Frank Innes Bingham:

http://www.rightmove.co.uk/property-for-sale/property-38467224.html

Uncertainty in the 2017 Bingham Property Market

I have been reading lots of articles in the media about uncertainty in 2017, if 2016 is anything to go by who knows what will happen!!

It got me thinking about the Bingham property market, employment levels and the availability of credit?

We have to realise that the chronic shortage of housing will keep prices buoyant even if lending does become more difficult.

We have seen lots of changes in Bingham since 1998.  If there has ever been a problem for people to borrow money or to secure a mortgage, it has always increased the numbers of people looking to rent a property.

The increased demand, and shortage of rental available, only results in rents increasing.   Perhaps it will become more viable for a landlord to invest if they can see the returns on a rental property grow.

The government do seem keen to keep increasing the taxation levels on landlords.   Without people investing in property there would be no Private Rented Sector to cater for those who choose to and need to rent.   It’s often their only option or the best option for their current circumstances.

I believe we will see those with some cash to invest still buying property, especially if the yields become more favourable, as the returns from savings are expected to remain low.  The increasing yields would offset the increasing taxation levels for landlords but it is not going to help the tenants of Bingham – many who are just about managing at the moment.

If you are already a landlord and concerned about the effect of a potential unsettled period there are things you can do to minimise your exposure to risk.   The main things are ensuring your property is well maintained and regularly inspected.   Make sure you have a comprehensive Buildings insurance with reasonable excesses – you don’t want any nasty surprises from an escape of water for example.

It seems very unlikely, but should employment levels in Bingham ever be affected, Landlords could consider taking out a Rent Guarantee.   If a tenant becomes unable to pay then the rental income will be protected and the costly eviction process will also be covered.   I do believe here in Bingham we are well placed geographically for people to be able to find work.

If you would like to discuss anything about the Bingham Property Market please call me on 01949 714101

Investment Property Over 6% Yield - Calverton

This property, situated on a great plot, could bring in a yield of over 6%, which is a fantastic return for any investor.  While it may need some cosmetic work to bring it up to the current rental market standard it looks as though the big jobs have already been done.

On the market with Martin & Co at an asking price of £110,000, it is the most reasonably priced 3 bedroom property on the market in the area so I don't imagine it will be around for long.

http://www.rightmove.co.uk/property-for-sale/property-63413282.html

      

2016 - The Bingham Rental Market

The rental market has been very different for us during 2016.   At any one time we would normally have around 25+ properties to let, but this year has seen the average be around 8 available at any given time.   This has resulted in great competition for rental properties amongst tenants and an increase in the rent the properties can achieve.

I did some investigations and of the current live tenancies on our system (let only and managed) 47% have been in their tenancy for over 2 years.   Our longest standing tenant will be celebrating her 16^th year in her property this month! 

The rental market has changed so much since she moved in.   It suits many investors that tenants are now staying longer but means that fewer properties are coming onto the market for re letting and thus reducing the numbers of property available.

December too has been a strange month - with double the number of notices coming in from tenants.  These re-let properties are letting quickly so our residual stock remains around the 15 mark.

What will happen in 2017?  I think rents will continue to increase as the availability of property remains low and the demand from tenants is still high.   Bingham will always be a popular place to live as there are plenty of employment opportunities in the area , along with good schools.   

If you are considering an investment during 2017, please feel free to give me a call or pop into my office in the Market Place, Bingham.

3 Bed Investment Property Under £160k in Bingham

New to the market, this 3 bed semi has been nicely renovated by its owners and would make an attractive rental property.  Within walking distance of a primary school, this property would not be around for long on the rental market.

It is currently on the market at £159,950, but if a cheeky offer is accepted, it could bring in a yield of around 5% to the investor.

Full details can be found here: 

http://www.rightmove.co.uk/property-for-sale/property-56735515.html

Modern 3 Bed in Bingham - Great Investment Potential

This ever-popular 3 storey house type offers flexible living for many different tenants.  Situated on this sought after development in Bingham, the property would make a great buy to let for any investor.  We would achieve around £795 pcm for this property, so with a bit of negotiating on the asking price, an investor could see a return of around 5%.

Being marketed with Newton Fallowell at £195,000, see the property here:

http://www.rightmove.co.uk/property-for-sale/property-56420527.html

With interest rates set to remain low what other options are out there for investors?

Investing money in bricks and mortar has long been a preferred option for many people of Bingham. It is often part of the retirement plan or a way of seeing some income from your savings.

Over 20 years the capital is going to increase, even with the peaks and troughs of the property market - as a long term investment there is little out there that can match it.

Belvoir have just released the rental index for Q3 2016, a look at the monthly rental price movements. The report analyses the ups and downs of the rental market, not just at a national level, but breaking down monthly rental averages into London, the rest of England, Wales and Scotland as well as regional level.

In the East Midlands the average rent for the third quarter of this year is £625 which is a 3.75% increase on quarter 3 2015. The Q3 2016 average versus the 2015 annual average rent of £593 shows an increase of 5.5%.

As long as there is demand the rental market will continue to grow. Because of the last government's shift in policy away from home ownership and the lack of houses being built, across the UK there is now an urgent need for more housing for students, migrants and families looking for 3, 4 and 5 bed properties.

2015 and 2016 are the first years since the recession where wages are increasing faster than inflation. I wonder though how Brexit will affect the cash in people’s pockets and this could cause rents to steady. The returns should still be better than other investments offer, but investing in the right sort of property is key.

Ensuring that the property is going to appeal a broad range of potential tenants will mean it will let quickly and have minimal void periods. Know your local market – tenants looking to rent in Bingham will have a different set of demands from those looking in Nottingham City Centre.

Follow my property blog for honest advice on rental returns, we only deal with letting property so it is important to us that you make the right investment. 

3 Bed Investment, Fosters Lane, Bingham

This is a lovely 3 bed family home and it would get snapped up on the rental market, thus making it a great investment opportunity.  The property looks to be in good order and has been well looked after, but may need a couple of 'decorative tweaks'.

On the market with our friends at Hammond Property Services for £165,000, it should see a yield of at least 5%.

See full details here:

http://www.rightmove.co.uk/property-for-sale/property-43312869.html

      

Why Invest in Calverton?

Calverton is an ex-mining village which has grown in size over the past few years.  With a population of over 7000, it is almost the size of a small town but still retains its great sense of community.

The village centre is a bustling place to be, with shops, cafes and even a weekly car boot sale!

With close access to the Sherwood Forest countryside, and Nottingham city centre alike, the village is a popular choice with many types of tenant.

There are a choice of good primary schools, a state comprehensive and an independent school.  With 2 golf clubs and a well serviced leisure centre, the area is a great choice for families.

Despite such benefits, Calverton house prices still remain reasonable; semi detached properties sold for an average price of £142,683 in 2015.

So, what should you buy to let in Calverton?

Properties in Calverton range in styles from ex local authority properties offering large room sizes for lower asking prices, to modern, nearly new properties which still benefit from their NHBC warranties.  Both types will appeal to tenants for different reasons.

With an older property there may be more work to do, but you may be able to add value to the property.  Newer properties should have little or no maintenance required and so therefore should be quicker and easier to let.  Properties on a new development should also benefit from higher capital growth.

Have a look below at some great investment potentials:

http://www.rightmove.co.uk/property-for-sale/property-44776275.html

This property is on the market with JR Estates with an asking price of £139,950.  I would expect to achieve at least £650 PCM, giving a healthy return of 5.5%.

      

The property below is a great example of a newer property in a modern development:

http://www.rightmove.co.uk/property-for-sale/property-56337229.html

While the return may not be as high as the previous property, I believe it should achieve higher capital growth.

      

For advice on what to buy and the benefits to you as an investor, please get in touch or visit me at my Bingham office.

Modern Family Home in Calverton - 5.5% Yield

This is a great example of a modern family home in the ever popular village of Calverton.  
Always a good choice for investors, properties on a development like this will let very easily with very little maintenance required. 

I would say we could achieve around £695 for this property.  Bought at the asking price of £155,000 this would see a return of 5.5%.  

The property is being marketed for sale by Gascoines, full details are here:

http://www.rightmove.co.uk/property-for-sale/property-56337229.html

Increasing numbers of families affect the Bingham Property Market

We are seeing such high demand for rented property in Bingham and it seems to be mirrored across the UK. After talking to fellow franchise owners it seems all parts of the country are seeing unprecedented demand for rental homes.

It got me thinking about the numbers. Looking at the figures from the Office for National Statistics (ONS) relating to families and household numbers in the UK, it showed some interesting results.

The total number of families in the UK is just under 19 million, of that 12 ½ million are married couples.

If you compare the figures from 1996 to those for 2015 - Numbers of married couples with children has decreased by 10% since 1996 but the numbers of married couples without children has increased by 4.6% over the same time period.

Interestingly the numbers of co-habiting couples with children is currently just over 3 million, and this number has increased by 130 % since 1996. The number of co-habiting couples without children has increased by 105%.

The number of lone parent families is currently sitting around the 3 million mark and has seen a 23% increase in numbers since 1996.

The growth in the numbers of families is mainly in the co-habiting couples – in my opinion are the most likely to be renting; typically early on in a relationship and not in a position to secure a mortgage. The number of lone parent families has also seen an increase. Rental properties can provide accessible housing for those going through a change in circumstances and there needs to be good quality rental property available.

We are seeing the low levels of house building across England, in the year to June 2016 there were just under 140,000 finished new build houses. The ONS state if the number of households in England grows to 24.3 million in 2021 as projected, this would be equivalent to an additional 221,000 households per year. We really need to see some more house building or we the current housing market crisis will continue.

In my opinion it illustrates the national problem we are seeing with the housing market and the struggle families are going to have until something changes. The only way to relieve the pressure on the existing rental market stock is to build more houses. Until we do rents will keep on increasing and there will be big competition for each new listing.

If you are considering investing in rental property in the Bingham and the surrounding areas please follow my property blog for honest advice on potential rental returns. 

Bingham - potential property investment on Compton Grove £146,450

Another opportunity on Compton Grove, on the market with Frank Innes for £146,450. 

This 2 bed property should see a return of £575 pcm which is around 4.6% yield if purchased for the asking price. 

http://www.rightmove.co.uk/property-for-sale/property-62295347.html

How the Wealth of 30 year olds affects the Bingham Property Market

The recent report from the Institute of Fiscal Studies prompted some interesting headlines around the wealth and income of 30 year olds today vs 30 year olds 10 years ago - just before the recession kicked in.

The study showed by the age of 30 that the property wealth of those born in the 1970's was nearly double that of the property wealth of people born in the early 80's when they reached the age of 30.

As for incomes - the figures show that those born in the early 80's do not have higher incomes than their predecessors did at the same age. This partly reflects the impact of the recession on the incomes of working age households.  It is also the result of a period of sluggish income growth from the early 2000's onward and the weakness of the recovery in incomes since the recession. For those aged between 25 and 55 the real average income in 2014-15 was only 2% higher than a decade earlier, compared with an increase of 26% between 1994-95 and 2004-05.

When looking at Bingham sold house prices so far this year - using the data on Rightmove and the Land Registry - Modern 2 bed semis are selling for £170,000 and 3 bed family homes are going for over £200,000.

With house prices rising (I believe this has a lot to do with the lack of supply) and incomes not keeping up it's easy to see why so many people are renting for longer. This fuels rent increases as there are fewer properties available to let and this in turn makes it harder for people to save. It does seems to be a continual cycle which can only be broken, in my opinion by the building of more houses. Let's hope 2017 brings a more optimistic housing market for the young people of Bingham.

If you are considering purchasing a property to let please do give me a call for an honest opinion on rental returns in and around Bingham.

East Bridgford Flat - Great Investment Potential

East Bridgford is a popular, sought after village with a great community, including an excellent primary school.  This flat could make a sound investment for someone looking to buy to let in the area, and could see a healthy return of 5%.  A property of this type should also see some capital growth.

Here are the details and photos: 

http://www.rightmove.co.uk/property-for-sale/property-61390415.html

Barnstone Cottage - Investment Potential 5%

A rural investment opportunity today:

This is a lovely cottage which has had most of the work done to bring it to today's market standard.  

Situated in a rural location, within the Vale of Belvoir village of Barnstone, the property would appeal to many different types of tenant, from empty nesters wanting to downsize, to professionals wishing to escape the rat run.  

With good road links to Nottingham and Grantham, and the market town of Bingham on the doorstep, with its station in close proximity, this could make a sound investment for any landlord.

Full details can be found here:

http://www.rightmove.co.uk/property-for-sale/property-44327421.html

Thinking about Gas Safety Week!!

This week is gas safety week. Having a gas safety check done by a registered Gas Safe engineer is an annual requirement of every landlord. The engineer must test all gas appliances in a property every year, and it’s a good idea to include the checking of carbon monoxide alarms while they are at it.        
  
What worries me is the number of times a gas safety check is not kept up to date. This is a vital part of a landlords responsibility and the risks if it gets forgotten are not worth thinking about!

For our managed properties we have robust systems in the office to ensure that we can request the checks to be carried out during the month before the due date. We are also audited annually and part of this includes ensuring all our managed properties have a valid gas safety check. This is a simple thing to ensure if it is part of your routine when managing 300+ properties.

If you are a landlord that self manages their property then you must not under estimate the importance of this check. Everyone is aware of the health and safety aspect of maintaining a boiler or gas appliance but there can be other implications to not having a gas safety certificate. But you need to consider the implications if a tenancy starts to go wrong.

Should a landlord need to gain possession of a property they will generally rely on a section 21 notice. If they need to gain possession through the courts they will require a landlord to supply not only the Tenancy Deposit Registration Certificate but also a copy of the EPC for the property and an up to date Landlord's Gas Safety Certificate.

If a tenant will not allow access for the check to be carried out it can be a sign of problems at the property. My advice to any landlord if self managing is to set up a reminder the month before it is due and to keep records of when the engineer was instructed or appointments with the tenants made.

If you find yourself in a situation where the tenant has stopped paying rent or you are worried about being able to get the gas safety check completed please give me a call. I am happy to discuss, in confidence,  any circumstances giving landlords cause for concern. 

Lowdham Investment Property Could Give Landlord a Return of over 6%

This Lowdham flat is on the market with Lesley Greaves, Burton Joyce, for £71,999.  

Situated in a picturesque location with far reaching views, it also benefits from great transport links.  It is neutrally decorated so should not need too much maintenance in order to let.

It would suit a single professional and could give an investor a healthy return of around 6%!

See the property here:

http://www.rightmove.co.uk/property-for-sale/property-58315529.html

      

Another Great BTL Opportunity in Bingham!

Apartments on this ever-popular development do not hang around for long.  This is a well priced property and looks to be in good order.  At the asking price an investor should see a return of over 5%.

Full details can be seen below:

http://www.rightmove.co.uk/property-for-sale/property-61421333.html