I have viewed this property on behalf of an investor earlier this year. It is in a great location and benefits from a garage. It would easily achieve £595 pcm and value could be added by improving the kitchen. At the asking price of £142,000 it would provide a 5% return on your investment. Click on the link for more info.. http://www.rightmove.co.uk/property-for-sale/property-49494056.html
Midlands property asking prices jumped by more than £4,000 to £181,100 in
February according to Rightmove, an increase of 2.3% from January and 4.7%
higher than a year ago. After the traditionally quiet months of January and
February, the property market has started to warm up, but talking to some Bingham
Estate Agents, they are reporting their lowest ever stocks of quality property
for sale. However, asking prices have no relation to what property sells for
(ie their REAL value); is the issue a lack of supply?
aside Bingham’s continual housing supply shortage, (we only built 207 properties in the last decade but the
population of Bingham grew by 446), this is now, according to some people,
being exaggerated by an increase in homes being owned by buy to let investors,
who tend to be buying a property as part of a long term pension plan and are
more likely to keep it for longer than an owner occupier would. I have also
seen unwillingness among homeowners looking to move, to put their own property on the market as they can find
few suitable properties to make it worth their while going through the whole
some Bingham landlords only last week, I said that I believe this is the new
norm in the Bingham property market, and is the consequence of over 35 years of
not enough homes being built to meet the escalating growth in household
numbers, resulting in a lack of quality homes for sale in many popular areas of
looks at the historic data, in March 2008, there were 210 properties on the
market in Bingham compared to today’s 35. Should we be worried? Well in April 2010 , there were only 48 properties
for sale in Bingham but ten months later in February 2011, this had jumped to 165
properties, for it to drop to 24 properties in August 2013. The number of
properties on the market is a cyclical thing in Bingham, it always has been and
always will be. As we go into the Spring of 2015, the number of new properties coming
onto the market will increase ... just as the daffodils will flower.
landlords to blame? Well, on one side of the coin, yes they are. If they buy a
property to rent out, that means someone can’t buy it to live in. However, it
doesn’t matter if someone wants to live in a property if they can’t afford the
deposit and upkeep .. and the youngsters of Bingham still need a roof over their
So on the other side of the coin, if the Council aren’t building any
properties and people can’t afford the large deposit for the mortgage, then Bingham
landlords have stepped in and bought property to rent out to them. Bingham
landlords have bought 210 properties over the last decade (investing
approximately £44.84million buying those Bingham rental properties), meaning
there were at the last count, 414 Bingham properties being privately rented out
to tenants. Bingham tenants are in fact getting a good deal as well, as average
rents in Bingham are 4.5% below where they were seven years ago. That sounds
like a win-win situation for everyone to me. Stop blaming landlords and start
building more properties in Bingham .. that is the only answer.
meantime, the demand from Bingham tenants for Bingham property is only set to
rise over the coming years. If you want some advice and opinion on where (or
not) to buy, please pop into our office 18 Market Place, Bingham or call me on
This smart property, on the market with Newton Fallowell with an asking price of £139,950, would make a wonderful buy to let. As it is situated close to a primary school and at the end of a cul-de-sac it would let very easily. I don't think this property will be on the market for long. Click here for details: http://www.rightmove.co.uk/property-for-sale/property-32885430.html
If you are a landlord looking for a buy to let then please do not hesitate to get in touch for impartial, honest advice.
Information is so important when making decisions on what
(or not) to buy when investing in Bingham property. The demand for rental
properties is much greater that the supply and in some circumstances, we have
four to five prospective tenants for each decent property. As always the demand
is much greater for properties that are in good areas.
Also, we are noticing
that tenants are staying longer in their chosen property with some tenants staying
for four years plus. This is obviously causing problems from the supply of
rental property so we are relying on new investment landlords to bring new
properties to the rental market.
Today, I want to look
at the East Bridgford to the North West of Bingham. By knowing the different
areas in the Bingham area, I can weigh up potential hotspots in the rental market and
show potential landlords where there could be an opportunity. Throughout 2014,
24 properties sold in the village of East Bridgford with an overall average
price of £278,300 which was similar in terms of sold prices to nearby Gunthorpe
at £272,500 but was more expensive than Bingham itself at £198,100 and Lowdham
at £262,800. The most inexpensive
property in the village sold in 2014 was on Crossroads Drive, a most pleasant 3
bedroom modern town house which sold for £131,500 whilst the most expensive was
a 5 bedroom detached house on Browns Lane which sold for £550,000.
In East Bridgford, there are 1,797 people living in 786
properties. It is the home ownership percentages that really got me interested,
as it is this information, tied in with our intimate knowledge of the market,
where we can match tenant demand to an under supply of rental properties. In East
Bridgford, of those 786 households, 83% own their property (compared to the Bingham
average of 76.2%).
There are only 41 rented properties in East Bridgford which are
in the private rented sector (meaning 5.2% of East Bridgford properties are
privately rented compared with the Bingham average of 10.63%). The reason the
private rental sector is much lower is that East Bridgford has a high
proportion of homeowners and hardly any local authority housing. The properties
do sell well, in fact 152 properties have changed hands since 2007. However,
with such excellent demand from homeowners and tenants, this could be the right
area to purchase your next buy to let investment.
Therefore, if you are considering buying a property for
investment in the near future, as I don't sell property, I am always happy to give
you my considered opinion on which property to buy (or not as the case may be)
to give you what you want from your investment. If you are a landlord, new or
old, I am certainly more than happy for you to pick up the phone or visit our
office 18 Market Place, Bingham.
Ok, a slight turn of phrase there on the classic, an
Englishman’s home is his castle but when it comes to the UK the ‘Brit’s are still a nation of homeowners‘ (although
wasn’t it Napoleon who thought we were all shop keepers!). It is interesting to note that up until the mid
to late 1960’s, more people rented their home (albeit mostly from the local
council) than owned their own. In fact, I was surprised to read that in 1921,
over 75% of homes in England and Wales were privately rented with the remaining
25% being owner occupied.
It was only after the Second World War, when the Beatles
were rocking, that people started to buy instead of rent .. but instead of
owning our property outright, we borrowed money from banks and building
societies to buy them. The roots of the
growth of the private rental sector can be drawn back to the late 1970’s early
1980’s, when the council houses began to be sold off under the right to buy
Even though 2,892 households in Bingham were owner occupied in 2001 and
that number had increased to 2,969 households by 2011, the percentage of
homeowner properties in Bingham dropped drastically from 78.54% to 76.28% Why,
because whilst an additional 207 properties were built in Bingham between 2001
and 2011, a lot of them were bought as buy to let investments, thus more than
doubling the number of private rental properties in Bingham. In fact, the
number of properties in Bingham that were privately rented jumped from 204 in
2001 to 414 in 2011!
With stagnation in the number of people who own their home in
Bingham and no more council houses being built, this is increasing the number
of people looking to renting, as everyone needs a roof over their head. With
the council house waiting list in Bingham being in the 5 to 10 year range for a
decent property in a decent location, it shouldn’t be forgotten that it is Bingham
landlords who house tenants waiting for a council house. Bingham landlords do
not receive any subsidies from HMRC and income tax is paid on rent paid by the
tenant combined these reduce the cost on the tax payer.
However, it’s not all doom and gloom in Bingham, as we have
noticed more and more of the younger generation are renting because they can‘t
afford to buy (raising a deposit being the sticking point for most), and a high
percentage of the expansion in private renting actually from those who need and
want temporary accommodation. There are landlords who rent their own Bingham property
out for the short term, for ease, and not necessarily purely for profit.
Therefore, with every report stating the rental market will
continue to grow throughout the rest of this decade, with high demand and
limited supply in the Bingham, if you are considering buying a property for
investment in the near future in Bingham, I am always happy to give you my
considered opinion on which property to buy (or not as the case may be) to give
you what you want from your investment. If you are a landlord, new or old, I am
certainly more than happy for you to pick up the phone or visit our office 18
market Place, Bingham.
This 2 bed apartment came to the market last week and is being sold by Richard Watkinson & Partners. Situated on the ever popular Meadowsweet estate, these apartments let very easily and should achieve a 5.5% yield*. Click here for full details of this great investment opportunity: http://www.rightmove.co.uk/property-for-sale/property-48700321.html
Prices up, prices down, prices stable .. the newspapers are
full of good news, bad news and indifferent news about the Brit’s favourite
subject after the weather .. the property market. The thing is the UK does not
have one housing market. Instead, it is a patchwork of mini property markets
all performing in a different way. At
one end of the scale is London, which has seen average prices grow in the last
twelve months by a shade under 19% (and again that is an average because some boroughs in London have risen by 26%) whilst,
by contrast, Wales only saw a 2% increase in property values (although in the
Merthyr Valleys they dropped by over 11%).
We can’t ignore the rest of the UK, and we can’t forget
that the Chancellor’s Stamp Duty reforms have polarised the London property markets
above £1,000,000 because at the top end of the market, punitive Stamp Duty
charges will dampen demand further. While the Bank of England warned of the
growing London property price bubble in the Spring of 2014, even talk of a
recovery in some areas was premature. In 2015, irrespective of where you are in
the UK, one story will unite the patchwork quilt of markets – really slow property value growth.
But what about Bingham? Well, we haven’t had the December
figures from the Land Registry yet but the last few months activity and prices
achieved would suggest neither house price growth nor drops. In fact, most sellers are buyers anyway, so
if you need to take less for yours, you won’t have to pay as much for the one
you want to buy ... and that is good news for everyone as most move up market
when they move. This is even better for landlord investors, as they can bag a
bargain as well.
The question you should be asking though is not only what
happening to property prices, but which price band exactly is selling? I like
to keep an eye on the property market in Bingham on a daily basis because it
enables me to give the best advice and opinion on what (or what not) to buy in Bingham.
If you look at Bingham and the immediate surrounding
villages and split the property market into four equal sized (into terms of
households) price bands. Each price band would have around 25% of the property
in Bingham, from the lowest in value (the bottom 25% ) all the way through to
the highest 25% (in terms of value). Over
the last two months (63 days to be precise), in the lowest quartile, (those with
asking prices under £160k) 32 properties have come onto the market in Bingham and 34.3% of them 11 properties have a buyer
and sold stc. The next quartile, between £160k to £250k, of the 43 properties
that came on to the market, 30.2% of them (13 properties) have a buyer. The £250k-£400k
price range has seen 40 properties come on to the market, and 22.5% of the
properties have a buyer (9 properties). The most expensive 25%, the £400k plus range,
has seen none of the 21 properties that came on to the market find buyers (0%).
Fascinating don’t you think?
The next three
months’ activity will be crucial in understanding which way the market will go
this year and I honestly believe we will not see any house price growth
or drops this side of the election. Election or no election, people will always
need a roof over their head and that is why the property market has rode the
storms of oil crisis in the 1970’s, the 1980’s depression, Black Monday in the
1990’s, and latterly the Credit Crunch together with the various house price
crashes of 1973, 1987 and 2008.
And why? Because Britain’s chronic lack of housing will
prop up house prices and prevent a post spike crash. ... there is always a
silver lining when it comes to the property market!
If you would like any advice on choosing properties, please
come and see me at our office in Market Place in Bingham or call me on 01949
A landlord came to visit last week and was looking for an investment to let now and then to move her family into when they come back from a year abroad. She was not necessarily interested in the monthly rental return, but wanted an 'easy' let that would hopefully increase in value over the coming years. This property is on the market for sale for £199,950 with Gascoines and should achieve a yield of just over 5%. It looks to be in good order and will require little to no maintenance to bring it to the rental market. It is a great example of this type of investment. http://www.rightmove.co.uk/property-for-sale/property-32193756.html