Friday, 25 July 2014

How can you find a good property deal in Canterbury?

The subject of a lack of Canterbury property bargains over the last couple of years has always been near the top of most local landlord’s thoughts. I have built up an extensive database of every property sale in Canterbury since the late 1990 ’s, so am able to give an objective and unbiased opinion on what (and what does not) make a good property deal /investment. Knowing what is and what has happened to the property market in the different areas of Canterbury (the differences of the property markets in St. Stephens, Martyrs Field and Harbledown for example)  or comparing the City against say Ashford  or Maidstone, enables me to spot any trends /opportunities for buy to let landlords.
I always like to keep an eye on the market and now with the power of modern technology, I post a couple of times a week what I think are the best buy to let or property investment deals in Canterbury. Looking back at my diary earlier in the week (pre blog), something I spotted at the time and made a note of. It’s obvious other people thought the same as some have now resold recently. A four bed mid terrace Victorian home built in 1897 situated on the west side of Canterbury on Wincheap. It was rather tired when she came on the market in 2012 and the asking price was eventually reduced to £270,000 at the end of 2012. It sold and completed in February last year for £250,000.  Admittedly it needed a some TLC and a lick of paint, but what a bargain, because the owner did some work to the property (looking at both sets of pictures I would estimate generously no more than £30,000), and put it back on the market this February at an asking price of £350,000 and it sold it almost straight away after an open house for £350,000.... a 40% increase in just over 12 months or after the estimated £30,000 building/improvement costs, a tidy £70,000 profit before selling fees. (Average property values in Canterbury in the same time frame only rose by 8 %!).

Whether you are a landlord of ours or someone thinking of investing in rental market for the first time in Canterbury or you are seasoned landlord, feel free to pick my brain any matter to do with the local Canterbury property market

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