Only 111 Properties For Sale in Stamford

2017 has started with some positive interest in the Stamford and Rutland property market.

Taking a snap shot of the Stamford property market for the first quarter of 2017, the picture suggests some interesting trends when it comes to the number of properties available to buy, their asking prices and what prices properties are actually selling for.

Let us first consider the number of properties for sale, compared to 12 months ago:

So, when we add in building plots and other types of properties that don’t fit into the four main categories, that means there are 111 properties for sale today, compared with 141 a year ago, meaning a drop of 21%.

Next, when compared to the same a year ago, Stamford asking prices are 2% higher.

With that in mind, I wanted to look at what property was actually selling for in Stamford.  

Taking my information from the Land Registry, the last available 6 months property transactions for PE9 show an interesting picture (note the Land Registry data is always a few months behind due to the nature of the house buying process and so November 2016 is latest set of data).  

The price shown is the average price paid and the number in brackets is the number of properties actually sold.

 

	Jun-16	Jul-16	Aug-16	Sep-16	Oct-16	Nov-16
Detached	£439,143 (14)	£503,932 (22)	£715,625 (8)	£504,450 (20)	£349,893 (14)	£386,281 (16)
Semi Detached	£193,875 (8)	£234,258 (19)	£302,193 (22)	£268,883 (9)	£198,905 (11)	£281,227 (15)
Terraced	£282,632 (19)	£347,944 (18)	£254,359 (16)	£260,983 (18)	£260,419 (13)	£212,414 (18)
Flat	£115,167 (3)	£98,833 (3)	£278,883 (15)	£191,113 (4)	£112,658 (6)	£152,981 (8)
All	£304,875 (44)	£356,401 (62)	£338,135 (61)	£352,374 (51)	£253,360 (44)	£270,985 (57)

What does all this mean for Stamford’s property owners?

With less property on the market than a year ago and asking prices 2% higher, those trying to sell their property need to be mindful that buyers, be they first timers, buy-to-let landlords or people moving up (or indeed down) the property ladder, have much more price information and data about the Stamford property market at their fingertips than ever before.

The Stamfordians who are looking to sell their property this year, need to be aware of the risks of over-pricing their property when initially placing it on the market.  

Over the last 12 months, in my opinion, I have noticed a few local estate agents have started to overvalue property. Possibly to encourage the homeowner and secure the property for their books – either that, or the homeowner is ignoring their estate agent’s professional advice!

 

The downside to this is that when offered to the market for the first time, buyers will realise it is overpriced and won’t waste their time asking for a brochure. They won’t even view the property, let alone make an offer. Therefore, when the price is begrudgingly reduced a few months later, the property has become stale and continues to be ignored.

Whilst the Stamford property-market has an unassailable demand for property – there is one saying that always rings true…as long as the property is being marketed at the right price, it will sell.

If you want to know if your property is being marketed at the right price, send me a web link and I will give you my honest opinion.

We are here to help you buy, sell, rent and manage your homes and property investments.

David Crooke
david@upp-property.co.uk

Owner and managing director

 Understanding People & Property

SALES & LETTING AGENTS 

Stamford: 01780 484 554      Rutland: 01572 725 825

This week's 3 Best Buy-To-Let Deals on the Stamford & Rutland Property Market with good yields

Property 1

3 Bed Victorian Town House.  Guide Price: £425,000

St. Leonard's Street, Stamford. On the market with UPP Property Agents

 

This property is a rare find in the current property market within Stamford town centre. Offered with a plethora of features expected with a Victorian town house and conveniently located with a short walk of the town centre.  This property would be an excellent purchase to let out, and with capital growth expected, it would become a beautiful home to retire into at a later date.

Guide Price: £425,000
Rental Income: £15,600pa (£1,300pcm)
Yield: 3.9%
Call: Adrian McCarthy, sales director on 01780 484 554
 
Click here to see full property details:

http://www.rightmove.co.uk/property-for-sale/property-47516901.html

Property 2
3 Bed Semi-Detached House.  Guide Price: £175,000
Nightingale Way, Oakham.  On the market with Newton Fallowell
 

A great investment property for the any first time investor.  A solid all-rounder that would let out immediately – albeit with some small internal improvements needed.  Located on the popular modern development on the outskirts of the town centre, the property comes highly recommended.

 

Guide Price: £175,000

Rental income: £7,500 pa (£625pcm)

Yield: 4.3% (based on asking price)

 

Click here to see full property details:

http://www.rightmove.co.uk/property-for-sale/property-45646521.html

Property 3
2 Bed Flat.  Guide Price: £119,950
The Sidings, Oakham.  On the market with UPP Property Agents

Another highly recommended property this week is this well maintained, modern apartment located within a short walk of the station and town centre.

 

This property comes with a tenant in situ for the remainder of this year and can only be purchased by a 'buy-to-let' investor.

 

 

 

Guide Price: £119,950

Rental income: £6,300pa (£525pcm)

Yield: 5.2%

Call: Adrian McCarthy, sales director on 01780 484 554

 

Click here to see full property details:

http://www.rightmove.co.uk/property-for-sale/property-47584242.html

 

If you would like to discuss any of the above in more detail with me, or if you are considering investing in a different property, just email me the details and we can discuss the property further.

David Crooke, Owner
david@upp-property.co.uk / 01780 484 554

Twitter: @UPPproperty

Understanding People & Property

Sales & Lettings




Stamford: 01780 484 554   Oakham:  01572 725 825

 

This week's 3 Best Buy-To-Let Deals on the Stamford & Rutland property market - Incomes of £7k-£8k

Property 1

3 Bed Semi-Detached House For Sale. £230,000
Irnham Road, Stamford.  Marketed by Knight Partnership

Sought after location near Stamford College & the town's amenities.  Spacious with 3 beds, good sized rear garden and off-road parking.  No onwards chain.



Price: £230,000
Rent: Approx. £700pcm
Yield: c3.6%   / Income: c£8,400pa 

Click this link for more details on this property:
http://www.rightmove.co.uk/property-for-sale/property-58654597.html

 
 

Property 2

2 Bed Semi-Detached House For Sale.  Guide Price £179,995
Willow Road, Stamford.  Marketed by Sowden Wallis

 

Great property; super location, well maintained and presented.  Benefits from a single garage and off-road parking.  Looks 'Tenant Ready'.

Guide Price: £179,995

Rent: Approx. 650pcm

Yield: c4.3%   / Income: c£7,800pa

Click this link for more details on this property:-

http://www.rightmove.co.uk/property-for-sale/property-64672853.html

 

Property 3

2 Bed Semi-Detached House For Sale.  Guide Price £172,500
Irwell Close, Oakham.  Marketed by UPP Property Agents

Offered in excellent order and located with views over neighbouring countryside from the rear.

Sought after, well established development.  This type of property is always in demand.

Guide Price: £172,500
Rent: Approx. £600pcm
Yield: c4.17% / Income: c£7,200pa
Call: Adrian McCarthy, UPP Property Agents on 01572 725 825

If you would like to discuss any of the above in more detail with me, or if you are considering investing in a different property, just email me the details and we can discuss the property further.

David Crooke, owner and managing director
david@upp-property.co.uk   / 01780 484 554

Understanding People & Property

Sales & Lettings




Stamford 01780 484 554 
Oakham   01572 725 825
 

 

‘Flipping’ Heck - Oakham Property Values Rise by £40.77 a day

  Investing in buy-to-let property is different from investing in the stock market or depositing your hard-earned cash in the building society.  When you invest your money in the building society, this is considered by many as the ‘safe option’, but the returns you can achieve are woefully low (the best 2-year bond rate from Nationwide is a miserly 0.75% pa!).

Another investment is the stock market, which can give good returns, but unless you are on the phone every day to your stockbroker, most people invest in stock market funds making the investment quite hands off and limiting personal involvement or control.

However, with buy-to-let the investment can be more hands on. One of the things many landlords like is the tactile nature of property; the fact that you can touch the bricks and mortar.  It is for this reason why many landlords are attracted in the first place.  They are making their own decisions rather than entrusting them to city whizz kids.

I like to consider property investment as a long-term game. When you invest in the property market, you can earn from your investment in 2 ways.  When a property increases in value over time, it is known as 'capital growth'.  Capital growth, also known as capital appreciation, has been strong in recent times in Oakham, but the value of property does go up as well as down just like shares do but the initial purchase price rarely decreases. ' Rental income' is what the tenant pays you - hopefully this will also grow over time.  If you divide the annual rent into the value (or purchase price) of the property, this is your yield, or annual return.

So, over the last 5 years, an average Oakham property has risen by £74,400 (equivalent to £40.77 a day), taking it to a current average value of £346,000. Typically, yields range from 4.5%-5% a year and can reach double digit percentages (although to achieve those sorts of returns, the risks are higher). 

However, something I haven’t spoken of before is the more specialist area of ‘flipping’ property to make money, which is the process of buying a property, carrying out some minor cosmetics and re-selling it quickly.

I have seen several investors recently who have made decent returns from this strategy.

For example …
One Oakham investor paid £85,000 for a 2 bed terrace on 'Briggins Walk, Langham' in April 2015.  It appears some cosmetic work was done to the property and it was resold a few months ago (October 2016) for £128,000 … 50.59% return before costs (or compound annual return equivalent of 31.48% AER).

This demonstrates how the property market has not only provided very strong returns for the average investor over the last 5 years but how it has permitted a group of motivated buy-to-let landlords and investors to become particularly wealthy.

As my article mentioned a few weeks ago, more and more people may be giving up on owning their own home and are instead accepting long term renting whilst buy-to-let lending continues to grow from strength to strength.

If you would like a FREE VALUATION of your own home or property investment for either sales or rental purposes, please get in touch. We are here to help you.

David Crooke
david@upp-property.co.uk

Owner and managing director

 

Understanding People & Property

SALES & LETTING AGENTS 

Stamford: 01780 484 554      Rutland: 01572 725 825

 

This week's 3 Best Buy-To-Let Deals generating annual incomes of around £7,500pa & £9,000pa

Property 1

3 Bed Terrace House For Sale.  Guide Price £210,000
Barnack Road, Stamford.  Marketed by Knight Partnership

Ex-local authority properties can carry a stigma sometimes, but, the reality behind these properties are that they are a tremendous rental investment.  Apart from the wonderful space inside the property, they also offer large gardens which is likely to attract tenants seeking longevity.  With a rental income of £750pcm equalling £9,000 per year, the yield return is 4.8%.

 

Guide Price: £210,000

Rent: Approx. £750pcm / Income: £9,000pa

Yield: c4.8%

Click this link for more details on this property:-

http://www.rightmove.co.uk/property-for-sale/property-58535530.html 

Property 2

2 Bed Semi-Detached House For Sale.  Guide Price £172,500
Irwell Close, Oakham.  Marketed by UPP Property Agents

The first of the Oakham properties is this fantastic 2 bedroom modern semi. 

My sales director has reduced this property this week by £7,500 which now makes this property a serious contender for any first time let. 




Offered in excellent order and located with views over neighbouring countryside from the rear, I would expect this property to let at £595pcm - £625pcm, equalling £7,500 per year (max), making the yield return 4.4% (based on a purchase price of £170,000 and a monthly return of £625).

Guide Price: £172,500
Rent: Approx. £595-£695pcm / Income £7,500pa
Yield: c4.4% (based on purchase price of £170k and rent @ £625pcm)
Call: Adrian McCarthy, sales director, UPP Property Agents on 01572 725 825

Click this link for more details on this property:-
http://www.rightmove.co.uk/property-for-sale/property-45844761.html

 

Property 3

 

3 Bed Semi-Detached House For Sale.  Guide Price £179,950

Plover Close, Oakham.  Marketed by UPP Property Agents

In my opinion, there is no better investment property available on the Rutland property market than this 3 bedroom semi detached house.  Currently let by another investment landlord who no longer lives in the area.

The property has been constantly let out to the same tenant for the past 9 years and has generated this investor a total of £61,000 in rental income over that period. Offered with a return of £625pcm and with an expected sale around £170,000 (which is £15,000 under market value btw!) and a yield of 4.4%.

 

Guide Price: £179,950

Rent: Approx. £625pcm / Income £7,500pa

Yield: c4.4%

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

 

Click this link for more details on this property:-

http://www.rightmove.co.uk/property-for-sale/property-47234265.html

 

 

If you would like to discuss any of the above in more detail with me, or if you are considering investing in a different property, just email me the details and we can discuss the property further.

David Crooke, Ownerdavid@upp-property.co.uk 

Understanding People & Property

Sales & Lettings




Stamford 01780 484 554 
Oakham   01572 725 825