This week's 3 Best Buy-To-Let Deals with incomes of £7k-£8k pa

Property 1
2 Bed Flat For Sale.  Offers in the region of £132,000

Edward Road, Stamford.  On the market with City & County

 

A wonderfully spacious and well presented 2 bedroom flat close to Stamford town centre. This property is offered in excellent order, and ideal for any first time investor looking for a solid and sound investment property. With a yield return of 5.4% on this property, it is above average for a Stamford BTL investment.

Price: OIRO £132,000
Income: £7,140pa (Approx. Rent: £595pcm)
Yield: c5.4%
Click this link for more details on this property:
http://www.rightmove.co.uk/property-for-sale/property-66261122.html


Property 2
2 Bed End Of Terrace For Sale.  Guide Price: £165,000
Lonsdale Road, Oakham.  On the market with Moores Estate Agents

Modern, spacious and in excellent order. That is exactly what you can expect from this brilliant BTL rental. These properties are excellent lets for landlords, and we could easily let this property by the end of this week!

 

 

Guide Price: £165,000

Income: £7,500 (Approx. £625pcm)

Yield: 4.5%

Click this link for more details on this property:

http://www.rightmove.co.uk/property-for-sale/property-66214046.html

Property 3
3 Bed Semi-Detached House For Sale.  Guide Price: £189,950
Hectors Way,  Oakham.  On the market with UPP Property Agents

We have successfully let out this property for many years for the current landlord, so, we know what an excellent investment property this is.  The perfect rental investment; modern energy efficient home, flexible accommodation, sought after location...what's not to love?

 

 

Guide Price: £189,950

Income: £8,580pa (Rent Approx.£715pcm)

Yield: c4.6% (based on £185k purchase price)

 

Click this link for more details on this property:

http://www.rightmove.co.uk/property-for-sale/property-48319251.html

 
 

With demand continuing to outstrip supply, if you are considering selling or renting a property you own and would like a valuation, please click this link:

http://www.upp-property.co.uk/pages/request_valuation


Best wishes

David Crooke, owner and managing director

david@upp-property.co.uk / 01780 484 554

Twitter: @UPPproperty

Understanding People & Property

Sales & Lettings

 

 

 

2.83 Babies Born for Each New Rutland Home Built

 As more babies are being born to Rutland mothers, I believe this increase will continue to add pressure to the over stretched Rutland property market and materially affect the local property market in the years to come.

On the back of 8 years of ever incremental increasing birth rates, a significant 2.83 babies were born for every new home that was built in the Rutland County Council area in 2016. Further exacerbating the Rutland housing shortage, meaning demand for housing (be it to buy or rent), has remained high. 

 

 The high birth rate has meant Rutland rents and Rutland property prices have remained resilient, and even with the challenges the economy has felt over the last 8 years, they will continue to remain high in the years to come. 

This ratio of births to new homes has reach one its highest levels since 1945 (back in the early 1970’s the average was only 1.5 births for every household built). Looking at the local birth rates, the latest figures show that here the Rutland council area, there was an average of 59.7 births per 1,000 women aged 15-44. 

Interestingly, the national average is 61.7 births per 1,000 women aged 15–44, and for the East Midlands region the figure is 61.3 births per 1,000 women aged 15-44. 

The number of births from Rutland women between the ages of 20-29 are higher than the national average, but those aged between 35-44 were closer to the national average. Overall the birth rate is increasing, and when that fact is combined with the ever-increasing life expectancy in Rutland, the high levels of net migration into the area over the last 14 years (which I talked about in previous articles) and the higher predominance of single person households, this can only mean one thing - a huge surge in the need for housing in Rutland.




MP’s, planners, central government and local communities need to recognise that with individuals living longer, a growing population and, whilst divorce rates may have dropped recently they are still at a relatively high level (meaning one household becomes two) ... demand for property is simply outstripping supply.

The simple fact is that more Rutland properties need building - for buying and renting.

 Only 1.1% of the country is being built on with new homes. Now, I am not suggesting we build tower blocks with views over Rutland Water, but the obsession of not building on any green belt land should be carefully re-considered.

Agreed, we need to build on brownfield sites first, but there aren’t hundreds of acres of brownfield sites in Rutland, and what brownfield sites there are, building on them can only work with complementary public investment. Many such sites are contaminated and aren’t financially viable to develop, so unless the government invests, they will never be built on.  

I am not saying we should crudely go ‘hell for leather’ building on our green belt, but we need a new approach to enable some parts of the countryside to be regarded more positively by local authorities, politicians and communities and allow considered and empathetic development. 

Society in the UK needs to look at the green belts outside of their leisure and visual appeal, and assess how they can help to shape the way we live in the most even-handed way. 

With prices and demand remaining strong in both the sales and lettings market, if you would like to arrange for a valuation of your property, please click here:

http://www.upp-property.co.uk/pages/request_valuation

 

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

 

 

 

David Crooke
Owner & Managing Director

01572 725 825

WE ARE NOW RECRUITING...

SALES COORDINATOR required to join our Stamford office
Full Time Position:   We are expanding our sales business and looking for an energetic and enthusiastic person to join us on our exciting journey.   If you share our love of property and you are an excellent communicator with superb administration skills, please email…   david@upp-property.co.uk

 

This week's 3 Best Buy-To-Let Deals achieving incomes of over £6k

Property 1
2 Bed Semi-Detached House For Sale.  Offers Over £185,000
Byron Way, Stamford.  Marketed by Knight Partnership

 

Byron Way is a small cul-de-sac of similarly designed and built modern homes located off Empingham Road. This property is offered in excellent order and will give any first time landlord the opportunity to acquire a solid, low maintenance investment.

 

Price: Offers Over £185,000

Rent: Approx. £650pcm

Income: £7,800pa

Yield: 4.2%

 

Click this link for more details on this property:

http://www.rightmove.co.uk/property-for-sale/property-58509763.html

 

 

Property 2

3 Bed Semi-Detached House For Sale.  Price £185,000

Churchill Road, Oakham.  Marketed by Newton Fallowell

 

One of the best rental properties to come to market recently is this 1960’s semi detached property located in Oakham. This type and standard of property offers the investor a great opportunity to add capital growth along with hassle free letting - not to mention attracting typically long-term tenants.

 

Price: £185,000

Rent: Approx. £650pcm

Income: £7,800pa

Yield: 4.2%

Click this link for more details on this property:

http://www.rightmove.co.uk/property-for-sale/property-48168885.html

Property 3
2 Bedroom Town Centre Flat For Sale.  Guide Price: £119,950
The Maltings, Mill Street, Oakham.  Marketed by UPP Property Agents

A wonderfully spacious 2 bedroom flat located in the heart of Oakham town centre, overlooking bustling Mill Street, and a purposely purchased rental property by the current owners – who now wish to move the property on,due to a relocation. We have successfully let this property out for many years and we would have no problem re-letting it again.

 

 

 

Guide Price: £119,950

Rent: Approx. £525pcm

Income: £6,300

Yield: 5.4% (based on a purchase price of £115,000)

 

Click this link for more details on this property:

http://www.rightmove.co.uk/property-for-sale/property-66142781.html


As always, if any of the above properties have caught your eye, or if you are considering investing in a different property, please contact me and we can discuss it further.  

Best wishes

David Crooke, owner and managing director

david@upp-property.co.uk / 01780 484 554

Twitter: @UPPproperty

Understanding People & Property

Sales & Lettings

Should the 2,917 home owning OAP’s of Stamford be forced to downsize?

This was a question posed to me on social media a few weeks ago, following my article about our mature members of society and the fact many retirees feel 'trapped' in their homes.  

 After working hard for many years and buying a home, these homeowners’ children have flown the nest and now they are left to rattle round in a big house.  Many feel trapped in these big family homes, and hence, I dubbed these home owning mature members of our society ‘Generation Trapped’.

 So, should we force our senior citizen homeowners to downsize?

 In my original article, I suggested that we as a society should encourage, through building, tax breaks and social acceptance that it’s a good thing to downsize, and something not to be negatively considered as downgrading.  But should the government force senior citizens?

 One of the biggest reasons senior citizens move home is for their health, or sometimes rather, their lack of it.  Looking at the statistics for Stamford, of the 2,917 homeowners who are 65 years and older, (whilst 1,742 of them described themselves in good or very good health), a sizeable 926 home owning senior citizens described themselves as in fair health and 249 in bad or very bad health.

 

That’s 8.54% of Stamford home owning senior citizens considering themselves to be suffering from poor health

 

But if you look at the figures for the whole of South Kesteven District Council (not just Stamford), there are only 471 specialist retirement homes that one could buy (if they were in fact for sale) and 374 homes available to rent from the council and other specialist providers (again, you would be waiting for dead man’s shoes to get your foot in the door) and many older homeowners wouldn’t feel comfortable with the idea of renting a retirement property after enjoying the security of owning their own home for most of their adult lives.

My intuition tells me the majority ‘would be’ Stamford downsizers could certainly afford to move but are ‘staying put’ in bigger family homes because they can't find a suitable smaller property.  There simply aren’t enough bungalows for the healthy older members of the Stamford population and specialist retirement properties for the ones who aren’t in such good health ... we need to be proactive and build more ‘age and need-appropriate’ homes in Stamford.

 The government's recently published Housing White Paper could have solved so many problems with the UK housing market, including the issue of homing our ageing population.  Instead, it ended up feeling annoyingly ambiguous.  Forcing our older generation to move with such measures as a punitive taxation (say a tax on wasted bedrooms for people who are retired) would be the wrong thing to do.  Instead of using ‘the stick’, maybe the government could use ‘the carrot’ and offer tax breaks tactics for downsizers?

 As a population, we are living longer and constantly growing with increased birth rates and immigration.  More houses and apartments need to be built in the Stamford area, especially more specialist retirement properties and bungalows.  The government had a golden opportunity with the White Paper, but it was found to be sadly lacking.

 To my Stamford and Rutland property investor readers, until this issue gets sorted in the coming decades, do seriously consider renovating and refurbishing older bungalows, people will pay handsomely for them either for sale or rental purposes.

 If you are considering downsizing, please contact me to discuss further. 

David Crooke  -  01780 484 554
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 in Rutland & Stamford, Incomes of £8k-£9k pa

Property 1

3 Bedroom Semi-Detached House For Sale.  Guide Price £220,000

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

 

I’m always asked where the best investment properties are located in Oakham, and right now, this established and sought after development located off the bypass holds the most appeal.
 
This 3 bedroom semi is a prime example of what to expect from a wonderful modern property that would attract longevity with tenants and young families.

 
Guide Price: £220,000

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

Yield: c4.1%

 

Click this link for more details on this property:

http://www.rightmove.co.uk/property-for-sale/property-48110556.html

 
Property 2
3 Bedroom Semi-Detached House For Sale.  Price £199,950
Lindsay Road, Stamford.  On the market with Moores Estate Agents
 

The Stamford property market continues to strengthen with prices on the rise on month on month. This particular property would make for an excellent rental investment and you can be almost certain of achieving more growth over the coming months/years.

 

 

Price: £199,950

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

Yield: c4.5%

 

Click this link for more details on this property:

http://www.rightmove.co.uk/property-for-sale/property-65997575.html

 

 

Property 3

3 Bedroom End Of Terrace Converted Stables.  Guide Price £179,950
Kimball Close, Ashwell, Oakham.  On the market with UPP Property Agents

 

The village of Ashwell, near Oakham has benefitted hugely over the closure of the local prison.  House prices in this area of Rutland have increased with natural market conditions and also with the benefit of the closure.

This property has been let out by the current vendors for many years and have been achieving £650pcm.

 

Guide Price: £179,950

Income: £8,100 (Rent: Approx. £675pcm)

Yield: c4.6% (based on a purchase price of £175,000)

 

Click this link for more details on this property:

http://www.rightmove.co.uk/property-for-sale/property-48130086.html

 

 

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

David Crooke, Independent owner and managing director

david@upp-property.co.uk / 01780 484 554

Twitter: @UPPproperty

Understanding People & Property

Sales & Lettings

355,880 people use Stamford Train Station a year...

How does Stamford Train Station affect
the Stamford Property Market?

 

It might surprise you that it isn’t always the most picturesque villages or the smartest streets where properties sell and let the quickest. Quite often it’s the ones that have the best transport links.

There is a reason why one of the most popular property programmes on television is called ‘Location, Location, Location’!
 

As an agent in Stamford, I am regularly consulted by buyers and property owners and I am often asked where the best parts of Stamford are and which of the surrounding villages are best to live in - chiefly from newcomers to the area.  

Now the answer is different for each person; a lot depends on the demographics of their family, their age, schooling requirements and interests etc., Nonetheless, one of the principal necessities for most tenants and buyers is ease of access to transport links, including public transport, of which, the railways are very important.

 Official figures recently released state that, in total, 489 people jump on a train daily from Stamford train station.  Of those, 154 are season ticket holders.  That’s a lot of money when a standard class season ticket to London is £4,276pa.

 So, if up to £658,550 is being spent on rail season tickets each year from Stamford, those commuters must have some impressive jobs and incomes to allow them to afford that season ticket in the first place.  Demand for middle to upper market properties remains strong in Stamford and the surrounding area and so, in turn, these are the type of people whom are happy to invest in the buy-to-let market – providing homes for many residents.

 

Property values in Stamford would be at least 3% - 4% lower

if it wasn’t for the proximity of the railway station.

 
As the costs associated with car travel continue to rise and the already congested roads worsen, rail travel is becoming increasingly important, and this has resulted in a huge surge in rail travel demand.   

Overall, usage of Stamford train station has increased over the last 20 years.  In 1997, a total of 186,863 people went through the barriers or connected with another train at the station in that 12-month period. However, in 2016, that figure had risen to 355,880 people using the station (that’s 978 people a day).

The juxtaposition of the property and the train station has an important effect on the value and saleability of a Stamford property.  It is also significant for tenants, so for a Stamford buy-to-let investor looking for a property, the distance to and from the railway station can be extremely significant.

 

One of the first things house buyers and tenants do when surfing the web for somewhere to live is find out the proximity of a property to the train station.  That is why Rightmove displays the distance to the railway station alongside every property on their website. 

 

 

If you own a property close to Stamford Train Station (in particular properties situated on Gresley Drive, Wothorpe Road, Station Road, Church St/Lane, Wharf Road etc.), please contact me.  We have buy-to-let investors and families very interested in this central location - not to mention tenants searching for their next home!

 

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

Owner and managing director
Understanding People & Property

SALES & LETTING AGENTS 

Stamford: 01780 484 554  
Rutland:   01572 725 825