Friday, 27 April 2018

The 3 BEST properties on this week's Stamford & Rutland Property Market

Ideal for buy-to-let  property investors (yields of 4.2% - 4.9%) or first time buyers looking to buy homes in Stamford and Rutland, these three properties are well worth considering.
 
PROPERTY 1) 
WHAT? 2 Bedroom apartment for sale.  On the market with Murray Estate Agents
WHERE? Station Road, Oakham
WHY? Modern, first floor apartment in town centre within minutes' walk to railway station and all amenities.  Allocated parking. 

THE FIGURES:
Guide Price: £135,000
Rent: £550pcm
Annual Income: c£6,600
Yield: c4.9%

MORE DETAILS?  Click here...
 
PROPERTY 2) 

WHAT? 3 Bedroom semi-detached.  On the market with James Sellicks.
WHERE? Lonsdale Way, Oakham
WHY? Sought after location by tenants, spacious with 2 reception rooms, garage and further off-road parking. 


THE FIGURES:
Guide Price: £190,000 
Rent:£700pcm
Annual Income: c£8,400
Yield: c4.4%
 
 

 
Property 3)
 
WHAT? 3 Bedroom Terrace.  On the market with Newton Fallowell.
WHERE? Trinity Road, Stamford
WHY? Chain free property.  2 reception rooms plus a conservatory and off-road parking.  Popular area especially within the residential lettings market.

THE FIGURES:
Guide Price: £200,000
Rent: £700pcm
Annual Income: c£8,400
Yield: c4.2%
MORE DETAILS?  Click here...
http://www.rightmove.co.uk/property-for-sale/property-72700049.html


As ever, if you are considering investing in property and would like to chat through the figures with me, please contact me.  I am happy to help.

David Crooke, Owner and MD

UPP Property, Sales & Lettings 

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







 
 
 
 
 

Monday, 23 April 2018

Which Stamford homes are actually selling?

I keep an eye on the local property market on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in the area, be that a buy-to-let property for a landlord or an owner occupier house. 

So, I wondered if it was possible to split the Stamford housing market into segments to identify which part of the market was performing the best and the worst.


I decided the best way to do this was to split the Stamford property market into 4 equal size price bands (into terms of households for sale).  Each price band would have around 25% of the property in Stamford, from the lowest in value (the ‘Lowest Quartile’ or 25%) all the way through to the highest 25% in terms of value, the ‘Upper Quartile’.  Looking at the market, I have calculated that these are the Stamford price bands;

      ·         Lowest Quartile (lowest 25% in terms of value) Up to £210,000

·         Lower/Middle Quartile (25% to 50% Quartile in terms of value) £210,000 to £270,000

·         Middle/Upper Quartile (50% to 75% Quartile in terms of value) £270,000 to £375,000

·         Upper Quartile (highest 25% in terms of value) £375,000 upwards

So, having split the Stamford property market approximately into 4 equal sizes, the results in terms what price band has sold (subject to contract or stc) the most is quite enlightening.

The results are close, but the best performing price range in Stamford at the moment is the upper-end (bucking the national trend) with 53.5% of the properties on the market sold.   The quartile below that is finding things toughest. 
Interestingly for Stamford landlords, the lower market is also selling well, meaning there are plenty of landlords buying properties to add to their buy to property portfolios. 
Even though the number of first time buyers did increase in 2017, it was from a low base and the vast majority of 20 something’s cannot buy, hence the need to rent.

 
It is a fact that British (and our local) housing markets have ridden the storms of the 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.  No matter what happens to us, Brexit or anything else, unless the government starts to build hundreds of thousands extra houses each year, demand will always outstrip supply.  So, maybe this is an opportune time for Stamford landlord investors to bag a bargain?
To find out where those Stamford buy-to-let bargains are, follow my Stamford Property Blog and Facebook (@stamfordandrutland) or drop me an email because irrespective of which agent you use, many local homeowners and landlords ask me my thoughts, opinion and advice on what (and not) to buy locally.

David Crooke
MD & Owner
 
e: david@upp-property.co.uk /   t: 01780 484 554


 

Monday, 16 April 2018

20% More Rutland Homeowners wanting to move than 12m ago


With not enough new-build properties being built locally to keep up with demand for homes to live in (be that tenants or homebuyers), it’s good to know more Rutland home sellers are putting their properties on to the market than a year ago. 

At the start of 2007 there were 110 properties for sale in Rutland but by March 2008, when the credit crunch was really beginning to bite, that number had risen to 238 properties on the market at a time when demand was at an all-time low, thus creating an imbalance.

Basic economics dictates that if there is too much supply of something and demand is poor (which it was in the Credit Crunch years of 2008/9) prices will drop. In fact, Rutland house prices did drop in the region of 15% and 20% depending on the type of property during that period.

However, over the last 5 years, we have seen a steady decrease in supply of properties coming onto the market for sale and steady demand, meaning Rutland property prices have remained robust. A stable housing market is one of the foundations of a successful British economy, as it’s all about getting the healthy balance of buyer demand with a good supply of properties. Nevertheless, if you had asked me a couple of years ago, I would have said we were beginning to see there was in fact NOT enough properties coming on to the market for sale, meaning in certain sectors of the Rutland property market, house prices were overheating because of this lack of supply. 

So, looking at the recent numbers, it is pleasing to note there are 20% more properties for sale in Rutland today than a year ago.  There were 89 properties for sale 12 months ago, and today that stands at 107. Definitely a step in the right direction to a more stable property market.

Even better news, since the Chancellor announced the stamp duty rule changes for first time buyers (FTB), my fellow agents in Rutland say that the number of FTB’s registering on the majority of agent’s books has increased year on year. That has still to follow through into more FTB’s buying their first home, however, with the heightened levels of confidence being demonstrated by both Rutland house sellers and potential house buyers, I do foresee the Rutland property market will show steady yet sustained improvement during the first half of 2018.

What does this mean for Rutland landlords or those considering dipping their toe into the buy-to-let market for the first time?


Landlords will need to keep improving their properties to ensure they get the best tenants. It is true that demand amongst FTB’s is increasing, albeit from a low base. Even with the new landlord tax rules, buy-to-let in Rutland still looks a good investment, providing Rutland landlords with a good income at a time of low interest rates and a rollercoaster stock market.

I keep an eye on the local property market on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in the area, be that a buy-to-let property for a landlord or an owner occupier.  If you would like to chat to me about a property you have seen, and would like my advice, please drop me a line.

David Crooke
MD & Owner
david@upp-property.co.uk / 01572 725 825


Monday, 9 April 2018

Here are the 3 best property deals on this week's Stamford & Rutland property market


PROPERTY 1)
WHAT? 2 Bedroom Semi-Detached.On the market with UPP Property.
WHERE? St. Anne's Close, Oakham
WHY?  Excellent central location, 2 bedrooms, open plan modern layout, garden and allocated parking.  This property is always in high demand on the rental market. Chain free.

THE FIGURES:
Guide Price £150,000
Rent £550pcm
Annual Income c£6,600
Yield c4.4%
 
MORE DETAILS?  Click here...
http://www.rightmove.co.uk/property-for-sale/property-53502588.html
 
______________________________________________________________
 
PROPERTY 2) 

WHAT? 2 Bedroom Terrace.  On the market with Murrays.
WHERE? Kings Road, Oakham
WHY? Modernised property, good rental location situated within walking distance to town centre, railway station etc.,


THE FIGURES:
Offers Over £169,000
Rent £600pcm
Annual Income c£7,200
Yield c4.2%
 
MORE DETAILS?  Click here...
http://www.rightmove.co.uk/property-for-sale/property-72275300.html
________________________________________________________________________________

Property 3)


WHAT?  Modern 2 Bedroom Terrace. On the market with UPP Property.

WHERE? Carisbrooke Grove, Stamford.
WHY? This property's size, condition and ideal location are perfect to satisfy the current rental demand in the town, making this an ideal investment property.  With lots of strong interest made already, make contact with UPP Sales now to arrange your viewing on 01780 484 554.  This property is chain free.


THE FIGURES:
Guide Price £190,000
Rent £700pcm
Annual Income c£8,400
Yield c4.4%

MORE DETAILS?  Click here...
http://www.rightmove.co.uk/property-for-sale/property-53570958.html


If you are considering investing in property and would like to chat through the figures with me, please contact me.  I am happy to help.

David Crooke, Owner and MD

UPP Property, Sales & Lettings 

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