Tuesday, 24 November 2015
Saturday, 21 November 2015
Blinking flip!………..Is it cold or is it cold!! Winter is certainly with us. Whilst keeping warm and checking Rightmove this morning, I found a great investment has just come onto the property market in Herne Bay. It’s a two bed apartment for £165K with Kimber Woodward and it’s a real cracker.
Let’s start with the asking price. At £165K it’s a great bargain and at this price will not be around long. The location is brilliant, as it’s close to the major road infrastructure of the Thanet Way, creating easy access for young professional tenants. It’s age / condition is also excellent, so it’s ‘good to go’ from an investment viewpoint.
Turning to the rental aspect of the property, I’ll take a real conservative viewpoint and state that the rental figure would be (at the very worse!) £750 per month, which will give you a good yield of 5.45% and at £800 per month, it would take the yield to a cracking 5.82%.
What about the capital growth? Well, these apartments in Weyman Terrace were built circa 2013 and the growth in the past year has been circa 7.81%. Try getting that at a building society!
Again, this is proving my view on the Herne Bay market, i.e. great area to invest in, with an good capital growth!
Check it out at http://www.rightmove.co.uk/property-for-sale/property-56116580.html and give the agent a call.
Tuesday, 17 November 2015
Monday, 9 November 2015
- CT1 - Canterbury city centre 35 properties sold in May 2015 (the most recent set of figures from the HM Land Registry), whilst over the Summer months of 2014, the number of properties selling in this postcode was always between 51 and 56 per month. (Interestingly the average value of those properties was £233,707).
- CT2 - Harbledown, Rough Common, Sturry, Fordwich, Blean, Tyler Hill, Broad Oak, Westbere 23 properties sold in May 2015 (with an average value of £279,049), whilst over the Autumn months of 2014, the number of properties selling in this postcode reached into the mid/late 40’s.
- CT3 - Wingham 14 properties sold in May 2015 (with an average value of £224,428), whilst over the Summer months of 2014, the number of properties selling in this postcode reached into the mid/late 40’s.
- CT4 - Chartham, Bridge 65 properties sold in May 2015 (the most recent set of figures from the HM Land Registry), whilst over the Summer months of 2014, the number of properties selling in this postcode was always between 83 and 97 per month. (Interestingly the average value of those properties was £353,688).
Thursday, 5 November 2015
A few days ago, one of our Landlords contacted me with a question regarding one of his other student properties that he owns up in Durham. In a nutshell, the property was being rented out to students and he was looking at his position in the next couple of years, i.e. rent or sell. He also asked if he could achieve a similar return / yield if he sold in Durham and purchased in Canterbury.
Regular readers will know that to achieve the Holy Grail of Lettings of a) a great yield and b) fabulous capital growth can be a real challenge, if not impossible, therefore this required a degree of research on behalf of the Landlord to offer him some sound advice.
To enable me to respond, it was necessary to manage some research and get back to him with some facts and figures.
The property in question in Durham was bought for circa £230K and has a monthly rent of £1646, which in turn gives a respectable gross yield of nearly 8.6%.
My first area of research was the latest Land Registry data, which was published a few days ago on the 28th Oct 2015.
In the table below, we can see two key pieces of information regarding the capital growth, i.e. the South East has grown by 8.5% in the past 12 months, as opposed to the prices in the North East which have decreased by 0.3% in the same period. Interesting to also note that the North East is the only region in England and Wales that has decreased in the past 12 months.
Tuesday, 3 November 2015
If you were born in the early 1970’s or late 1960’s, if you haven’t started to think about it yet, retirement is closer than you think. In fact the number of years you have left to work is less than the number of years you have worked. The basic state pension is worth £115.95 a week for a single person in 2015/16 (or £6,029 a year) and £231.90 a week for a couple (£12,118 a year) as long as your partner has paid their stamp (although there are certain get of jail cards if they haven’t).