This Week's 3 Best Buy-To-Let Deals on the Rutland & Stamford Property Market

PROPERTY 1

3 Bedroom Semi-Detached House For Sale - £225,000
Doughty Street, Stamford.  Marketed by Newton Fallowell

 

A wonderfully located property, close to a range of local amenities and Stamford College.  These properties are a rare gem because they offer a blend of period features, on a well thought of road and often presented in good order – great for rental investors . Expect a rental return of £795pcm, offering a yield of close to 4.3%.

 

Price: £225,000

Rent: Approx. £795pcm

Yield: c4.3%

Click this link for more details on this property:-

http://www.rightmove.co.uk/property-for-sale/property-62339816.html

PROPERTY 2

2 Bedroom Terraced House For Sale - £175,000
Barleythorpe, Oakham.  Marketed by Murray Estate Agents

We have just let an identical property to this one on nearby Bridle Close and achieved £625pcm, so we know there is a fabulous market for these excellent new build homes.  They offer 2 beds and 2 baths, are under warranty and come with very low maintenance and low energy bills (solar panels).  Based on £625pcm which we could again achieve here, the yield would work out at 4.3%.

Price: £175,000

Rent: Approx. £625pcm

Yield: c 4.3%

Click this link for more details on this property:-

http://www.rightmove.co.uk/property-for-sale/property-63661115.html

 

PROPERTY 3

 

2 Bedroom Character Cottage For Sale - Guide Price £219,950

Top Street, Wing, Rutland.  Marketed by UPP Property Agents

Back to market this week is this wonderful little cottage in a highly desirable village.  It has been let out for c8 years and has always had a tenant in place.  We could achieve a rental return of £750pcm, which would bring the yield in at 4.2%.  This is based on a purchase price of £210,000 of which we know the vendor would accept.

 

Guide Price: £219,950

Rent: Approx. £750pcm

Yield: c4.2%

 

Click this link for more details on this property:-

http://www.rightmove.co.uk/property-for-sale/property-44050029.html

To discuss this property further, and to arrange a viewing, please call:

Adrian McCarthy, Sales Director, UPP Property Agents on 01572 725 825

 

 

 

 

If you would like to discuss any of these properties in more detail, or if you are considering investing in a different property, please do get in touch with me.  I am here to help and will be glad to discuss any property with you.
 

David Crooke, Owner

UPP PROPERTY AGENTS - Sales & Lettings

Understanding People and Property



Email: david@upp-property.co.uk
Stamford: 01780 484 554      Oakham: 01572 725 825

Stamford Property Market – Quarter 4 Update: Average Value of a Stamford Home Now £324,700

 

Well, hasn’t 2016 been eventful? The up’s and down’s of Brexit, Queen Elizabeth’s 90th birthday celebrations, Andy Murray winning Wimbledon and SPOTY, Donald Trump’s controversial election, Bake Off moving to Channel 4 and something close to the hearts of every buy-to-let landlord and homeowner in Stamford - the local property market.

So, let’s look at the headlines…

In the last month, Stamford property values dropped by just 0.8%, leaving them, year on year 7.7% higher. Whilst interestingly, Stamford asking prices are down 1.3% month on month.  All 3 statistics go to show the Stamford property market has recovered well after the summer lull, which was worsened by the uncertainty surrounding the EU vote back in June.  Irrespective of all the issues, the average value of a Stamford home now stands at £324,700.



 








Generally, Stamford asking prices continue to hold up well, as asking prices are 4.7% higher year on year.  At this time of year asking prices tend to drop in the run up to Christmas and locally they have dropped by 1.3% this month (November 2016), although this still compares well with last year’s drop in Stamford’s asking prices, as we saw asking prices drop by 0.6% in November 2015.

Now it’s true to say, after chatting with fellow property professionals in Stamford, all of us have seen the number of property sales fall slightly, suggesting a slowing market, but it is very early days and it could just be the time of year.  Also, the numbers are limited, so it’s interesting to take note from a recent survey by the Royal Institution of Chartered Surveyors, stating new buyer enquiries and new instructions are falling at the same rate, suggesting that there will not be a downward pressure on property values.


Looking at the figures for the UK (as we can’t just look at Stamford in isolation), property values are generally rising slower than a few years ago, but on a positive note, there's still growth across the UK.  You see, slowing property value growth isn't solely Brexit related, but after a number years of double digit rises in property values, affordability has weakened and cooling price growth is widely seen to be a natural correction of the market.


On the other hand, interest rates being at a record low of 0.25% are helping the property market.  The cut in interest rates in the late summer was the medicine for the post-Brexit worry and will, as a consequence, ensure that the UK economy continues to be underpinned by buoyant property prices.

So, what will happen in 2017 in the Stamford property market?

Some say until we know what type of exit the UK will make from the EU, it is hard to evaluate the outcome.  Although, I believe, the whole Brexit issue is a sideshow to the main issue in the UK (and Stamford) housing market as a whole.

As I have mentioned time and time again over the last few months, the biggest issue is demand outstripping supply when it comes to the number of households required to house us all.  Stamford has an ever-growing population - with immigration (we still have at least 2 years of free movement from EU members into the UK), people living longer and the fact we need thousands of additional households as the country has nearly 115,000 divorces a year (where 1 household becomes 2 households).

These are interesting times ahead!

If you are considering purchasing an investment property, or would like to discuss one you already own, please get in touch with me.  I am more than happy to discuss any property with you.

 

 

David Crooke

Owner

 

SALES & LETTING AGENTS

Email: david@upp-property.co.uk

Stamford: 01780 484 554      Oakham: 01572 725 825

This week's 3 BEST Buy-To-Let Opportunities in Stamford & Rutland

PROPERTY 1

3 Bedroom Semi-Detached House - £195,000

Cresswell Drive, Cottesmore.  On the market with Gilbert & Thomas

 

Cottesmore is a most underrated Rutland village.  We manage lots of properties in this village and they come highly sought after by young families (particularly military families), who look for a long term tenancy, not a quick 6 month let.  With an expected rental return of £750pcm, the yield would come in at just over 4.6% which is above the average for Rutland.

Price: £195,000

Rent: £750pcm

Yield: c4.6%

Click this link for more details on this property:-

http://www.rightmove.co.uk/property-for-sale/property-63181721.html

PROPERTY 2

3 Bedroom Town House - £189,950

Mallard Court, Oakham.  On the market with Newton Fallowell

These town house properties make wonderful investments - especially as they are still fairly young in terms of the build and come with very low maintenance, which is something I would always recommend if you are a first time investor looking for a steady and solid first time purchase.  With a return of £725pcm and yield of close to 4.6%, this property would come highly recommended.

Price: £189,950

Rent: £725pcm

Yield: c4.6%

 
Click this link for more details on this property:-
http://www.rightmove.co.uk/property-for-sale/property-45875874.html  

 

PROPERTY 3

 

7 Self-Contained Flats - £850,000

 

Stamford Town Centre.  On the market with UPP Property Agents

 

For the more serious property investor, we are delighted to be marketing an opportunity to purchase a FREEHOLD Georgian building of 7 self-contained apartments with an estimated 20% return.

All 7 properties are currently let out on AST’s and with a basic renovation we believe there is a massive opportunity for a gross yield of 4.5-5% with scope to increase rents.  Available at around £850,000 in its current condition.

Price: £850,000

Yield: c4.5-5%

 

Click here for more details:
http://www.rightmove.co.uk/property-for-sale/property-45935421.html

To discuss further and to arrange a viewing, please call:

Adrian McCarthy, Sales Director, UPP Property Agents on 01780 484 554

 

 

 

 

If you would like to discuss any of these properties in more detail, or if you are considering investing in a different property, please do get in touch with me.  I am here to help and will be glad to discuss any property with you.
 

David Crooke, Owner

UPP PROPERTY AGENTS - Sales & Lettings

Understanding People and Property



Email: david@upp-property.co.uk
Stamford: 01780 484 554      Oakham: 01572 725 825

 

Stamford Semi Detached House Prices rise by 426% in 20 years

The semi-detached house with its bay windows and net curtains has long been ridiculed as an emblem of safe, lacklustre and desperately uncool suburban life; the homes of the likes of Hyacinth Bucket in ‘Keeping up Appearances’ and more latterly Alan Partridge.

However, they could have the last laugh having enjoyed one of the highest price growths of any property type in Stamford, up by an average 426% increase in the last 20 years.

The semi can now laugh in the face of its more upmarket detached counterpart, which saw a rise of only 367% in the same 20-year period.  Looking at smaller properties, flats/apartments rose by 735%, whilst terraced houses only rose 219% (although they were starting from a lower base and demand from buy-to-let landlords has had a big part in driving the values on that type of house (i.e. the price a buy-to-let landlord is prepared to pay is driven by the rent the landlord can achieve).

 

In 1996, the average value of a Stamford semi stood at £52,100...

Today it stands at £274,100

Such is the attractiveness of semi-detached homes, which are cheaper than detached houses but have most of the same benefits for families.  Semi-detached houses were built in their hundreds of thousands by the Victorians and Edwardians between the wars and through to the present day.  Interestingly in the late 19^th Century and early 20^th Century they often weren’t referred to as semi-detached, but as ‘villas’!

So, whilst Europeans live on top of each other in apartments us Brits chose, in the late Victorian and early Edwardian era, ‘suburban comfort’ and being near (but not too near!) to the neighbours!  I once heard someone say the semi-detached house was a peculiar crossbreed that doesn’t stand on its own - it is inseparable from its neighbour yet somehow still embodies a dream of suburban independence.

 

Over 1 in 3 houses in Stamford is a semi-detached house

There are 3,226 semi-detached properties in Stamford and they represent 35.9% of all the households in Stamford.  Stamford has such a mix of semi-detached properties with the older classic bay fronted semi’s to more modern ones built in the last couple of decades.  Especially with the older ones, the semi offered a hall to provided separation between the reception rooms and privacy for their occupants.  Also the downstairs offered larger rooms to accommodate dining tables, whilst upstairs, bedrooms were smaller, yet cosy.

However, probably the most overlooked aspect of popularity for semi’s is the garden.  The front garden, designed to separate the house from the world, and the back garden designed for private relaxation.  The semi in the suburbs was relaxing, well presented, plumbed and enhanced by a garden, so that when a window was opened the air had a chance of being genuinely fresh… and it’s for all those reasons why 95 semi-detached houses have been sold in Stamford in the last 12 months alone.

Still as popular today as they were with the Victorians all those years ago – some things just stand the test of time!

If you are considering purchasing an investment property, or would like to discuss one you already own, please get in touch with me.  I am more than happy to discuss any property with you.

 

David Crooke

Owner

 

SALES & LETTING AGENTS

Email: david@upp-property.co.uk

Stamford: 01780 484 554      Oakham: 01572 725 825

3 Best Buy-To-Let Properties in Stamford & Rutland this week...

Property 1:

3 Bedroom Semi-Detached House For Sale.  £250,000

Churchill Road, Stamford. On the market with Murray Estate Agents
 

Beautifully presented semi in a desirable rental location.  The property  would appeal to young families looking for a long term rental.  It would also make an exceptional property to retire into in the future.  Expected rental return of £825pcm - £850pcm, bringing in a yield return of 3.9% - 4%.  Worth considering purely because there would be no outlay on getting it 'tenant ready'.

Price: £250,000

Rent: £825-850pcm

Yield: 3.9%-4%

Click here to see more on this property:
http://www.rightmove.co.uk/property-for-sale/property-44648538.html

 

Property 2:

2 Bedroom Terrace House For Sale.  £139,995

Deans Street, Oakham.  On the market with Murray Estate Agents

Excellent period property located in the heart of Oakham town centre.  This type of property is very much in demand by landlords and tenants.  We manage many properties similar to this and they always attract lots of immediate interest and applications. The achievable rent in its current condition would be in the region of £550pcm which would bring in a return of 4.8%.  A sound investment.

Price: £139,950
Rent: Approx. £550pcm
Yield: c4.8%
Click here to see more details on this property:
http://www.rightmove.co.uk/property-for-sale/property-59973737.html

Property 3:

2 Bedroom Semi-Detached House For Sale.  £179,950

 

Irwell Close, Oakham.  On the market with UPP Property Agents. 

 

We already have 3 investors looking at this property and we have also successfully sold a similar property off market.

 

Highly sought after by both tenants and investors due to the low maintenance and wonderful location. Expected rent return of £650pcm and with a potential purchase of £175,000 we would expect a good yield return of 4.5%.

 

**My investment of the week**

Price: £179,950
Rent: Approx. £650pcm
Yield: c4.5%
Click this link to see more on this property:
http://www.rightmove.co.uk/property-for-sale/property-45844761.html

If you would like to discuss any of these properties in more detail, or if you are considering investing in a different property, please do get in touch with me.  I am here to help and will be glad to discuss any property with you.
 

David Crooke, Owner

UPP PROPERTY AGENTS - Sales & Lettings

Understanding People and Property



Email: david@upp-property.co.uk
Stamford: 01780 484 554      Oakham: 01572 725 825

Stamford's 1st Time Buyers are Paying 6.9% More than 12m Ago

Figures just released by the Bank of England, show that for the first half of 2016, £128.73bn was lent by UK banks to buy UK property - impressive when you consider only £106.7bn was lent in the first half of 2015. 

Even more interesting, was that most of the difference was in Q2, as £68.12bn was lent by UK banks in new mortgages for house purchases, which is the highest it has been for 2 years.

Looking locally, in Stamford last quarter, £501.6m was loaned on PE9 properties alone!

Even though the Bank of England are imminently due to release the Q3 figures, as I discussed a few weeks ago, HMRC have published their own preliminary data to suggest Q3 will be even better, with a massive growth of buy-to-let landlords to the housing market in that time frame.  Fascinating, as it seems to fly in the face of the popular narrative – that the uncertainty surrounding Brexit would negatively impact buyer sentiment.

And it’s not just buy-to-let landlords that seem to be flourishing.  I am finding that 1^st time buyers are also a lot more confident too.  Low, and now negative, inflation has had a tangible impact on household finances and 1^st time buyers feel more secure in their jobs. Coupled with a low interest rate environment and you have all the ingredients for a strengthening property market.  To back that up with numbers, of the £68.12bn of mortgages lent in the Quarter (Q2), £14.9bn was lent to 1^st time buyers (the highest proportion of that overall lending for over 2 years at 21.99%).

When I looked at the data for South Kesteven District Council (SKDC) area, the average price paid by 1^st time buyers was £156,297, which is a rise of 2.18% from last month and a rise of 6.91% to 12 months ago.  The Land Registry then categorise the remaining buyers into cash buyers or those buying with a mortgage.  The average price paid by cash buyers was £178,438, a rise of 2.11% from last month and a rise of 6.69% to 12 months ago, whilst buyers with mortgages (but not 1^st time buyers), the average price paid by them was £194,003, a rise of 2.2% from last month and a rise of 6.79% to 12 months ago.

 

What surprised me with these figures was how close the property prices, values and percentages were to each other.  It just goes to show the combination of low mortgage rates and a stable job market will continue to have a positive effect on the Stamford and UK market.   And that is why, while there is undoubtedly more cautiousness in the market at present than a year or so ago (among borrowers and mortgage companies alike) - mortgage rates are so competitive that they are inducing people to commit to a home purchase.

It seems the great Brexit uncertainty was over hyped, and house price growth as well as mortgage approvals, could pick up pace into 2017.

If you are considering purchasing an investment property, or would like to discuss one you already own, please get in touch with me.  I am more than happy to discuss any property with you.

 

David Crooke

Owner

UPP Property Agents - For professional advice on buying, selling, renting and managing your homes and property investments.

 

SALES & LETTING AGENTS

Email: david@upp-property.co.uk

Stamford: 01780 484 554      Oakham: 01572 725 825