This week's 3 Best Buy-to-let Deals in Stamford & Rutland

Property 1: Drift Road, Stamford                 £195,000
3 Bed detached house for sale with Nest Estates
  

I have selected this one as there is an opportunity to add value by upgrading the internal spec' of this house, which will also give you the best opportunity to maximise its' rental value. 3 bedroom properties in this location are very much in demand by long term young families (especially with the school around the corner!).

 

Monthly rental income of £795pcm - £850pcm will give you a worse case yield of 4.9%. Excellent investment all round.

Click this link for more details:-
http://www.rightmove.co.uk/property-for-sale/property-59602319.html

 

Price: £195,000
Rent: Approx. £795-£895pcm
Yield: c4.9%


Property 2: Churchill Road, Stamford £165,000
3 bed terraced house for sale with Newton Fallowell

 

Another gem found this week in Stamford.

First time rental investors will be attracted to this property. Very solid purchase in terms of both value for money and returnable yield.



The property appears to be excellent order and with the 3 bed market at its strongest at the minute, I would highly recommend this property. Based on its current asking price we would be able to achieve £725pcm in the current market, which would bring in a yield of over 5%!

Click this link for more details:
http://www.rightmove.co.uk/property-for-sale/property-59608796.html

Price: £165,000
Rent: Approx. £725pcm
Yield: c5%


Property 3: West End Villas, Tinwell     Guide Price £229,950
3 bed semi-detached house for sale with UPP Property Agents

Opportunity to add value by extending this property, or potential to build within its current plot.  The property would need to brought up to modern spec for the rental market but this property is one not to be missed.

In good condition you would be able to achieve £850pcm (yield of 4.4%), but with the plot and property prime for developing or extending, this one stands out as the best investment on the market in the last 7 days.

Click this link for more details:
http://www.rightmove.co.uk/property-for-sale/property-42149883.html

 

Price: £229,950

Rent: Approx. £850pcm

Yield: c 4.4%

 

Call: Adrian McCarthy at UPP Property Agents on 01572 725 825

Email: Adrian.mccarthy@upp-property.co.uk

 

If you are considering purchasing a different investment property to the above and would like to discuss it with me, please do get in touch either by email via david@upp-property.co.uk or please call me on 01780 484 554. 

Alternatively, if you have a property and are unsure of its current value, please contact our sales director, Adrian McCarthy via 01572 725 825 or via email Adrian.mccarthy@upp-property.co.uk

We look forward to hearing from you.
David Crooke

Managing Director
UPP Property Agents & Author of The Rutland and Stamford Property News

Call: 01780 484 554

Twitter: @UPPproperty  

LinkedIn: David Crooke

www.upp-property.co.uk


 

512 empty Rutland properties vs. 271 people on Rutland council waiting list

Problems like Oakham’s housing crisis, where we have a rudimentary numerical problem of too few homes for too many people, is clearly to build more property in Oakham. 

Unfortunately, for those desperately seeking to purchase or let a property, takes a long time and huge amounts of money.

So what of other solutions?

Whilst at supper with friends recently, the subject of property was mentioned (as I am sure it does at most get-togethers up and down the country). Normally someone always mentions empty properties as the solution to the problem. On the face of it, it seems so obvious. Now quite interestingly, I had recently done some research on this topic, which I want to share with you (as I did with those around the table).

The most recent set of figures from 2015 state there are 512 empty homes in the Rutland County Council area. So it begs the question ... why not put them back onto the system and help ease the Oakham housing crisis? Whilst they stand empty, 271 Rutland households (not people – households) are on the council’s ‘Waiting List’ for council houses. Surely, we can undoubtedly all agree that property left empty for years and years isn’t morally right with the burgeoning council house waiting list, not to also mention the issue of homelessness.

But a different story emerges when you look deeper into the numbers. Of those 512 homes lying empty, only 179 properties were empty for more than six months. The local authority has to report a property being empty, even if it’s for a week. So many of the Oakham properties are either awaiting new homeowners or, in the case of rental properties, new tenants. Also most certainly, some properties are being refurbished and renovated, while others properties have homeowners who are anxious to sell but cannot find a buyer.

The fact is that the number of genuinely long term empty properties is only a tiny drop in the ocean of the 15,002 properties in the area covered by Rutland County Council and, even if every one of those empty homes were filled with happy cheerful tenants tomorrow, it would only meet a small fraction of Oakham housing needs.

So what does this mean for all the homeowners and landlords of Oakham?

Well it means with demand being so high, especially for rental properties, the certainty of the rental market growing is an inevitability because young people cannot buy and councils don’t have the money to build new council houses. This in turn bolsters property prices as landlords continue to buy at the lower end of the market (starter homes, etc.,), which in turn sustains the rest of the market as those sellers move up the property ladder, releasing others in turn to buy on again.

These are interesting times in the Oakham property market!

If you have a property you would like to discuss, or if you are unsure of its current market value, please contact David Crooke, managing director UPP Property Agents on 01780 484 554.

Visit www.rutlandandstamfordpropertyblog.co.uk for local property market advice & opinion.

 

 

 

 

This week's 3 BEST BUY TO LET DEALS...

Property 1:  Dean Street, Oakham           £65,000

1 Bedroom flat - On the market with Newton Fallowell

Click this link for more details:-
http://www.rightmove.co.uk/property-for-sale/property-3975360.html

Situated in the heart of Oakham town centre is this ideal investment property / 'First Time Buyer' home - a ground floor studio apartment which has recently been modernised and offered to the market with no onward chain.  The property is accessed via Dean Street in to a private courtyard shared with two neighbouring properties.


The property previously let at £375 PCM providing a 6% return.


Price: £65,000
Rent: Approx. £375pcm
Yield: 6%



Property 2: Calder Close Oakham       £175,000
3 Bedroom Semi-Detached house - On the market with Murray Estate Agents

Click this link for more details:-

http://www.rightmove.co.uk/property-for-sale/property-59553086.html

 

Calder Close in Oakham offers a wonderful first time investment. A very solid 3 bed semi-detached home offered in excellent order.  Located in a popular location that traditionally lets out quickly. Our experience shows young families are typically attracted to this genre of property and on average stay for around 3 years.

 

 

Bringing in a rental income of £695pcm, the yield on this purchase will work out at c4.8%

 

Price:  £175,000

Rent: £695pcm

Yield: 4.8%

 

 

 

Property 3: The Leas, Cottesmore    Guide Price £165,000

1 Bedroom Cottage - On the market with UPP Property Agents, call 01572 725 825

 

Click this link for more details:-

http://www.rightmove.co.uk/property-for-sale/property-41966028.html

 

A wonderful one bed cottage situated in the heart of the sought after village of Cottesmore.

 

This cottage was purchased as a rental investment many years ago and has never been empty since, bringing in an income of £495pcm. I have it on good authority that the vendor will look at offers over £145,000 on this property.  Truly one to consider if you’re looking to expand your portfolio.

 

 

Price: £165,000

Rent: £495pcm

Yield: 3.8%

Call: Adrian McCarthy, UPP Property Agents on 01572 725 825

Email: Adrian.mccarthy@upp-property.co.uk

Please remember, if you are considering purchasing a different investment property to the above and would like to discuss it with me, please do get in touch either by email via david@upp-property.co.uk or please call me on 01780 484 554. 

Alternatively, if you have a property and are unsure of its current value, please contact our sales director, Adrian McCarthy via 01572 725 825 or via email Adrian.mccarthy@upp-property.co.uk

We look forward to hearing from you.

David Crooke

Managing Director, UPP Property Agents

Author of The Rutland and Stamford Property News

Twitter: @UPPproperty  

LinkedIn: David Crooke

 

 

 

£6,800 Boost for Stamford's First Time Buyers

There’s a whole legion of wannabe Stamford first-time buyers keen to get on the property ladder and they now have a 3% price advantage over the previously quicker responding army of Stamford landlords with cash at the ready.

Since the start of April, buy-to-let landlords have had to pay an additional 3% stamp duty so whilst demand from some Stamford buy-to-let landlords has dropped away, in the interim, it offers Stamford first time buyers (FTB’s) a chance to fill the vacuum with less competition from cash rich landlords (over two thirds of buy-to-let properties were purchased without a mortgage in the last 7 years) who could bid more and complete quicker.

Looking at the average value of a terraced house in Stamford currently standing at £229,100, that means if our Stamford FTB went up against a Stamford landlord, the landlord would have to pay an additional £6,873 in stamp duty.

Early anecdotal evidence from fellow property professionals in the town is suggesting landlords are reducing their offers slightly on Stamford properties to reflect the extra stamp duty.  

Whilst on the face of it, it appears landlords are being punished by No.11 Downing Street, I actually believe this increase in stamp duty for landlords is a good thing for the Stamford property market as a whole.

Since 2011/12, the Stamford property market has performed very well indeed. Over the last 12 months, £148,052,850 has been spent buying 530 Stamford properties.

Figures from the Land Registry have just been released and month on month in our council area, property values are 0.5% higher, yet 4.2% higher year on year. These figures are nowhere near the heady days of 2003 (April to be exact), when Stamford property prices rose by 32.5% in 12 months.

So as property values in Stamford (and the UK as whole) start to stabilise and come back to some kind of balance, I am beginning to see savvy landlords view the Stamford property market in a different light.

This stamp duty change has made more and more landlords, after reading the Stamford Property Market Blog www.rutlandandstamfordpropertyblog.co.uk take advice on what or not to buy and what to pay, meaning Stamford landlords are being more calculated with their Stamford buy-to-let purchases.

I am also seeing a variance between relatively brisk current price momentum and softer expectations in terms of property value growth in Stamford, this in part reflects amplified uncertainty about the short term economic outlook (e.g. Brexit, Issues in the Far East etc.).

Now I know a lot of Stamford landlords brought forward their buy-to-let purchases to beat the stamp duty deadline. However, it is probable that hunger from Stamford investors will return for the right Stamford property later in the year, especially if it’s at the right price and offers a decent yield.

 

In the meantime, Stamford FTB’s could and should, in the short term, make 'hay whilst the sun shines', plug the gap and grab a bargain!

 

For more advice and even where those buy-to-let bargains could be found visit The Rutland and Stamford Property Blog:-

www.rutlandandstamfordpropertyblog.co.uk

 

 

 

 

 

 

 

The Rutland And Stamford Property Newsletter - ISSUE 4

 

To download the latest issue of 'The Rutland and Stamford Property News' please click on the link below:-

https://drive.google.com/file/d/0B_SAOIpAAUAGY0lTdllza0hpaU0/view?usp=sharing


In this month's edition we discuss a customer's £200,000 inheritance windfall predicament, we look at how Stamford's private rental market has grown by a massive 121.92% in just 20 years and we ask if owning a home has become an unattainable dream for the 156 Stamford 28 year olds...

 

 

If you would like to receive my weekly articles via email, please contact me via david@upp-property.co.uk and we will add you onto our list. 

 

You can also see all of the articles on our property blog where I share what is happening in our very own Rutland and Stamford property market. 

www.rutlandandstamfordpropertyblog.co.uk

 

Proving very popular is my WEEKLY post of the '3 best buy-to-let deals' on the market... think of it as a 'Homes under the Hammer' Rutland and Stamford style!

 

If you have a question regarding an existing property you own, or if you are considering buying one and would like to discuss it, please get in touch with me.

 

Kind regards

 

 

 

 

David Crooke

Managing Director UPP Property Agents

Author of The Rutland and Stamford Property News

 

Email: david@upp-property.co.uk                Tel: 01780 484 554    

Twitter: @UPPproperty                                 LinkedIn: David Crooke

 

 

This week's 3 Best Buy-to-Let deals on the Rutland and Stamford Property Market

Property 1: Drift Gardens, Stamford                    Offers in Excess of £160,000
2 Bed Semi-Detached House for sale with Knight Partnership

Click this link for more details:

http://www.rightmove.co.uk/property-for-sale/property-38732334.html

 

With the demand for Stamford rental property at a high, this particular property could be 'LET' by the weekend! It is presented in what looks likes to be in excellent order.  An investor would not need to spend any money getting the property up to a good rental spec'.



Expect a rental income of £7,200 per annum with this investment and with a yield of over £4.5%. A savvy purchase whether you are a first time landlord or a seasoned investor.

Sale Price: OIEO £160,000
Rent: Approx. £600pcm
Yield: 4.5%+

Property 2: Saville Court, Oakham                       Guide Price £185,000

2 Bed Apartment for sale with UPP Property Agents, call 01572 725 825

 

Click this link for more details and to arrange a viewing:

http://www.rightmove.co.uk/property-for-sale/property-41840769.html

 

I have selected this top floor over 55’s apartment as my second rental tip for this week.

 

We have let this property out successfully for a number of years and with the demand for over 55’s property on the increase within Oakham, this property has a huge draw for a sector of the market that is very dry with availability, especially with its' central town location.

 

 

 

Offered with a rental income of £595pcm this property would be a successful rental investment.

 

Guide Price: £185,000

Rent: Approx. £595pcm

Yield: 3.8%

 

Property 3: Queens Road, Uppingham                          Guide Price: £135,000
2 Bed Maisonette for sale with Moores Estate Agents

Click this link for more details:

http://www.rightmove.co.uk/property-for-sale/property-58853603.html

 

Lastly, a property with massive rental potential. Currently offered with a guide price of £135,000 and a rental income of c£550pcm the yield return be over 4.8%. The property looks in excellent order and with a garden available, any tenant looking at this property for a home would  add longevity to the property. Probably the best rental investment on the market in the last 7 days.
 

Guide Price: £135,000
Rent: Approx. £550pcm
Yield: 4.8%
Call: Adrian McCarthy on 01572 725 825 / email: Adrian.mccarthy@upp-property.co.uk


If you are considering purchasing a different investment property to the above and would like to discuss it with me, please do get in touch either by email via david@upp-property.co.uk or please call me on 01780 484 554. 

Alternatively, if you have a property and are unsure of its current value, please contact our sales director, Adrian McCarthy via 01572 725 825 or via email Adrian.mccarthy@upp-property.co.uk

We look forward to hearing from you.

David Crooke

Managing Director, UPP Property Agents
Author of The Rutland and Stamford Property News

Twitter: @UPPproperty  
LinkedIn: David Crooke

Oakham Property Market Crisis

The UK has a reputation for being a nation of homeowners, but in a league of the top 46 economic nations of the world (where owning your property is permissible), the UK is only ranked at no.37. 

As I mentioned a couple of weeks ago, at the end of WWI, 77% of people rented their home, with the vast majority renting from a private landlord as council housing was still very much in its infancy.

 

 

 

Homeownership rose very slowly in the 1920’s and started to increase as the economy grew after the ‘Great Depression’.  However, after the Luftwaffe had flattened huge swathes of housing in the early 40’s, the priority was to get people into clean and decent accommodation.  So, local authorities (councils) took up the baton and they built large council estates in the 1950’s and 1960’s.

As the UK economy got back on its feet in the middle part of the 20^th Century and wages rose, people decided they wanted to own their own home instead of renting one.  Throughout the post war decades, it became easier to secure a mortgage.

Interestingly, by 1977, 61.6% of 30-34 year olds were mortgagees or ‘owner occupiers’, compared to 8.7% of 30-34 year olds residing in private rented accommodation (the remaining either being in council housing or living with friends or family).

Ten years later, in 1987, we saw some significant growth in homeownership, as 68.2% of 30-34 year olds had a mortgage and only 4.6% of people privately rented.  A decade later and there wasn’t much change as, in 1997, the homeownership figure was 68.3%, but private renting had jumped to 12.1% in the same 30-34 year old age group.

Move on another ten years to the 2007 figures, and this showed a slight drop in homeownership to 65.8%, but renting had continued to increase to 18.7% (in the 30-34 year old age group).

The latest set of figures available is for 2014, and only 47.2% of 30-34 year olds have a mortgage and an eye watering 33.4% of 30-34 year olds privately rent.

When we study the Oakham homeownership figures, looking back to 1991, 68.37% of Oakham households were owned by the homeowner, whilst 7.09% of Oakham households were privately rented, whilst the 2011 census showed home ownership in Oakham had risen to 72.53% and private rented had increased to 14.25%.

Much of the recent rise in the occurrence of private renting in Oakham since the turn of the millennium is not as a result of expensive property, but the fact these 30 somethings haven’t got a council house to move into (because they were all sold off) – so they have to rent.

Selling off council housing in the 1980’s (a subject I have talked about in a previous article in the Oakham Property Market Blog) artificially grew homeownership in the 1980’s, but as these people have got older, the younger generation didn’t have the same opportunities to buy their council house in the 1990’s, 2000’s or 2010’s.

That is why, unless the council start building council houses by the acre, and hundreds of acres, private renting will continue to grow in Oakham.

To find out more on the Oakham property market and for my popular weekly choice of the ‘3 best buy-to-let property deals’ in the area, visit www.rutlandandstamfordpropertyblog.co.uk

This week's '3 Best Buy-to-Let deals' in Rutland and Stamford are...

Property 1: Bluebell Road, Stamford      £215,000
3 Bed Semi-Detached house for sale with Sowden Wallis

 

Click this link for more details:-

http://www.rightmove.co.uk/property-for-sale/property-59286908.html

 

There has been a drought this last week with investment property, but I have managed to claw out a few decent buys. This first one is located on the popular “Rutland Heights” development in Stamford. Very popular with long term young families and offers a rental income of £750pcm – up from £695pcm over the last 12 months.


Sale Price: £215,000
Rent: Approx. £750pcm
Yield: c4.1%

 

Property 2: St. Mary's Place, Stamford   £183,000

1 Bed Apartment for sale with Martin & Co.

 

Click this link for more details:-

http://www.rightmove.co.uk/property-for-sale/property-59302325.html

 

Located just off St Mary’s Hill in the heart of Stamford. Expect a young professional to take on this rental investment and with the luxury of Stamford train station and “The George Hotel” on your doorstep the demand for this property is very high, but with lack of stock of this nature, it would be pushing £725pcm on the rental income.

 

It may only be a 1 bed property, but what better than a 'bolt hole' for yourself in the future?

Sale Price:  £183,000

Rent:  Approx. £725pcm

Yield: c4.8%

Property 3: North Street East, Uppingham  Guide Price £145,00
2 Bed End of Terraced Home for Sale with UPP Property Agents Tel: 01572 725 825

Click this link for more details:

http://www.rightmove.co.uk/property-for-sale/property-41686881.html

 

Located of the heart of Uppingham and with an income of c£575pcm your yield return would be in excess of 4.7% which is just above average for this increasingly popular market town.

 

We have successfully let this property out for years and the property has never sat empty, thus giving the current owner a regular income for years.

 

Excellent order and offered with NO CHAIN.

 

 

Guide Price: £145,000

Rent: Approx. £575pcm

Yield: 4.7%

Contact: Adrian McCarthy on 01572 725 825

Email: Adrian.mccarthy@upp-property.co.uk


If perhaps you have your eye on a different investment property to the above and would like to discuss it with me, please do get in touch either by email via david@upp-property.co.uk or call me on 01780 484 554. 

Alternatively, if you have an investment property and are unsure of its current value, please contact my colleague Adrian McCarthy via 01572 725 825 or via email Adrian.mccarthy@upp-property.co.uk

 
We look forward to hearing from you. 

David Crooke

Managing Director, UPP Property Agents
Author of The Rutland and Stamford Property News

Twitter: @UPPproperty  
LinkedIn: David Crooke