This apartment in sought after Burton Joyce is crying out to be purchased by an investor. With well proportioned rooms and lovely light, airy feel, it would appeal to many professional tenants. With quality properties being let within 24 hours, this is a great time to invest. Being an apartment there is of course the leasehold and service charge to investigate, but as long as that all adds up, I think this is a sound investment for any landlord. Check out the photos below, or click here for full details: http://www.rightmove.co.uk/property-for-sale/property-46622229.html
February I looked at how Bingham's house prices had performed over the
last 12 months and I have been searching for data around the performance of
rents in our area.
of National Statistics have released the Index of Private Rental Housing Prices
(IPHRP) which looks at the percentage changes of rents over the last 12 months.
The Index of Private Housing Rental Prices measures
the change in price of renting residential property from private landlords. The index does not measure the change in newly
advertised rental prices only, but reflects price changes for all private
It does this by looking at the data collected by
the Valuation Office Agency (VOA) who use rental officers to collect the price
paid for privately rented properties.
data is broken down into regions and its good news for East Midlands landlords.
The East Midlands
have seen a greater % increase in rents over the last 12 months than London and
was also higher than the average for England. Between January 2016 and January 2017 London
rents have seen an increase of 2.1%, in the East Midlands we have seen an
increase of 2.8%. This was matched by the South West and beaten
only by the East of England at 3% and South East which saw a 3.3% rise in
% change in Rents from January 2016 – January 2017
summarised that the increase in rents was due to demand for rental property
outpacing supply. RICS (Royal Institute
for Chartered Surveyors) and ARLA (Association of Residential Letting Agents) are
both reporting a continued rise in tenant demand.
certainly seeing increased tenant demand in and around Bingham and
properties are letting really quickly. If you are considering investing in a property
please give me a call or pop in to see me at our office on The Market Place in Bingham for an
honest opinion on rental returns.
The office of national statistics have released the first
set of data from the 2015-2016 for the English Housing Survey. This survey is a national survey of people's
housing circumstances and the condition and energy efficiency of housing in
It makes interesting reading about the nations approach to
housing and gives us an idea of how the private rented sector is performing.
The report found that in 2015-16, the private rented sector
accounted for 4.5 million or 20% of households. Throughout the 1980s and 1990s, the
proportion of private rented households was steady at around 10% but since 2002
the sector has more than doubled in size.
This report also looked at who was renting property – they identified
that over the last 10 years the proportion of young people renting property in
the private rented sector has increased dramatically.
In 2005-2006, 24% of those aged 25 – 34 lived in the private
rented sector but by 2015 -2016 this increased to 46%.
Over the same period, the proportion of 25-34 year olds
buying with a mortgage decreased from 53% to 35%. Households aged 25-34 are more likely to be
renting privately than buying their own home, a continuation of a trend first
identified in 2012-13.
Interestingly in the private rented sector, the proportion
of households with children increased from 30% to 36%. Given the sizeable growth of the private
rented sector over this period, this six percentage point increase equates to
about 945,000 more households with dependent children in the private rented
It just goes to show that we need a healthy private rental
sector to cater for the needs of families as well as young people.
Bingham is a great small town - ideally located for commuters to Nottingham, Newark and Leicester. With its great Primary schools and secondary School it will continue to attract families and I
hope that we continue to see investors coming into the private rented sector.
If you are thinking of purchasing a property to let follow my
blog for possible investment properties from across the market.
This week we have seen reports in the media surrounding
house prices. The Office for National
Statistics has just released data collected from December 2016.
They have produced a comparison of the monthly inflation of house prices, calculated using data from
Land Registry, for all areas across the UK. The National average price of a property has
risen by 7.2% during 2016.
I had a closer look at the local authority for Bingham which is
Rushcliffe and came up with some interesting results. We must remember though
the Rushcliffe borough is a large one and includes diverse suburbs and
The average price of a property sold during the year to December 2016
had risen by 7.63% according to the ONS results.
The report had broken the increases down even further by each property
Detached houses 8.14% increase
Semi detached 7.64% increase
Terraced house 6.49% increase
Flat/maisonette 7.15% increase
Remember these figures are on sold prices as recorded at Land
Registry not the advertised asking prices.
These results are very encouraging
to see for anyone who already has an investment in property or who is
considering becoming a Landlord.
Buying the right type of
property is always going to be very important though – it needs to have minimal
void periods as well as seeing some capital growth. If you are looking to purchase a ‘buy to let’
property keep an eye on my blog for potential investment
opportunities across the market.
I've mentioned it before, but buying to let isn't just about the rental yield per month. There is capital growth to think about too. A landlord with around £200k to spend came to see me today, and I showed him this potential in East Bridgford. The property looks great and, if bought at the right price, could give the investor a good monthly return, plus hopefully capital growth in the years to come. Being marketed with Rex Gooding, full details are below: http://www.rightmove.co.uk/property-for-sale/property-58064986.html