Investment alert! Hidden treasure!

On my daily 'trawl' through Rightmove, this little beauty looked good at first glance, but after a few calculations it looks like a piece of hidden treasure!!

It's just arrived on the market with Sandersons and is currently being offered at £254K. The price looks about right, but a bit of 'haggling' should get it reduced a bit further. Even at this price and a monthly rent of £1155, it's returning a healthy 5.66% yield.

Now this is where it gets better! On such a property the rent for students (and we have a number of similar examples) should be circa £1400 per month, therefore the 'real' yield will be in the region of 6.86%! It just gets better and better!

Check it out today at http://www.rightmove.co.uk/property-for-sale/property-32099979.html

 

Should you wish to discuss any other specific properties or just a general chat re the current market, please feel free to contact me on 01227 455717 or call in and see me at 23 Watling Street in Canterbury.

Great investment! Canterbury City Centre.

Here's a great little number that's just come onto the market with Rightmove, listed by Godwin Curtis. It's located in the popular Black Griffin Lane area, where demand and rents are both high.

This one already has tenants and with a rental figure of £1050 per calendar month, giving a yield of 5.25%, it's a 'no brainer' in my book.

You won't even have to handle any works on the property, as it looks 'good to go'!

Check it out at http://www.rightmove.co.uk/property-for-sale/property-32102301.html

This won't be on the market for long!

Canterbury or Whitstable: Which is the best place to buy in?

At a recent Canterbury business leaders networking event, I was asked by a local accountant on the best place to buy a property for investment in the area. This is a question I am often asked at least once a week by existing and soon to be first time landlords in both Canterbury and Whitstable areas of Kent. Both places have similar average property values, so would you expect them to perform the same?

The average property value in Whitstable is £289,700 and in Canterbury is £291,300, whilst the average rents are £874 per month in Whitstable and £1,124 per month in Canterbury. This gives Whitstable an average yield of 3.6% whilst in Canterbury its 4.6%. Interestingly, property values have increased by 8.3% in the last 12 months in Whitstable, yet Canterbury is not far behind, with average property values increasing by 8.0% (interestingly over three quarters of that rise has been since Christmas 2013). Just for comparison I looked at Herne Bay and the average yield in Herne Bay is currently 3.45% a year and property values have risen from £211,400 over the last 12 months to today’s average value of £225,200, a more modest rise of 6.9%.

Investing in property is all about what you buy the property for (i.e. capital growth). You make your money with your buying value, rather than your eventual sale value. Over the last ten years, property values in Whitstable are 18.6% higher than they were in 2004, whilst they are 23.2% higher in Canterbury and so have you missed the boat in both places? Interestingly, the housing market in Canterbury saw some impressive house sales, with prices to match earlier in the year. Recent surveys by Rightmove suggest it is only taking 6 weeks to find a buyer in South East England. However, not everything is selling. At the time of writing this report (early August), of the 287 properties that had come on the market over the last 56 days, only 110 were sold stc, (or only 38.3% of house sellers had found a buyer), meaning over 60% hadn’t sold and it these where you can find your bargains if you look hard enough.

If you would like to pick my brain on anything to do investing in the Canterbury, Whitstable or Herne Bay property markets, feel free to pick up the phone, email me on david.anthony@martinco.com  or pop into offices on Watling Street in Canterbury.

 

Canterbury Deal of The Day with a 5.3% Return!

At the moment, there are a lot of properties to choose from in the Canterbury area, so picking yourself up a great deal, is quite likely. These little terraced houses offer a good prospect for rentals, these tend to go around £800 / £825 pcm, depending on condition. This one looks like it has had some updating already, so probably ready to go, with minimal work, if any required. 

http://www.zoopla.co.uk/for-sale/details/33151631

This is being advertised with Connells at a guide price of £179,995, therefore you could potentially have a buy-to-let property generating you a yield of at least 5.3%. Mark my words, this one won’t be around for long!

If you are looking around and see a property that you like the look of and want some advice as to ‘rent-ability’ and honest rental price guides, drop me a line, I'm happy to help. david.anthony@martinco.com

Property values rise by £877 per week in Canterbury

Last week, a landlord who lives in Faversham, came in to our office to discuss the rising property values in the area. He owns a varied portfolio of rental properties, primarily in Canterbury and Faversham with one in Sittingbourne, so it was interesting to compare the increase in property values around the area.

Over the last three months, in Canterbury, average property values have risen from £280,800 to £291,300, a rise of £10,500, or £877 per week. When I looked at some of the surrounding areas, Sittingbourne has had a lower average increase in property values, at around £716 per week, whilst Faversham has a similar modest rise to Canterbury, with an average increase of around £809 per week. A rise in all the town’s average property values which suggests the market is recovering quite nicely in our area of Kent – good news for home owners and landlords alike.(Unless you are in Herne Bay, where it’s a more modest £577 per week).

When considering this landlord’s buy to let portfolio, yields can be in the order of 4% to 5% per year in Canterbury, depending where you buy, so combine that with steady rental growth, excellent increases in capital values of the properties themselves and it could be a good time to invest in the property market in Canterbury as property values start to rise.

If you would like some advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in the rental market for the first time, please feel free to pop into our offices on Watling Street for a chat about the property market in Canterbury. However, if you can’t get into town, feel free to email me on david.anthony@martinco.com with any questions or any properties you want my opinion on.

Cracking investment deal! Check out the yield!

Calling all investors!! Here’s a great one that’s just come on the market with Your Move. The main attraction that caught my eye was the potential yield of circa 7.4%, with a student let of £1050.00 per month.

See further details here:

http://www.zoopla.co.uk/for-sale/details/34113608

It looks in fairly good condition and should be ready to rent out immediately. Whilst there are a number other student properties available on the market, this one would be at the top of my list!

If you are looking around and see a property that you like the look of and want some advice as to ‘rent-ability’ and honest rental price guides, drop me a line, I'm happy to help. david.anthony@martinco.com

Good Investment in Bishops Way

Looks a bargain!

On my morning check of Zoopla, I came across this property which has just come on the market with Amos Dawton & Finn. There were a number of aspects that caught my eye, these being:

1. Good location
2. Priced about right
3. Should let fairly swiftly
4. Yield circa 5.3%

See further details at http://www.zoopla.co.uk/for-sale/details/34038547


It may need a quick paint job before putting on the market, but in general looks fine!

If you are looking around and see a property that you like the look of and want some advice as to the 'rent-ability' and honest rental price guides, drop me a line, I'm happy to help. david.anthony@martinco.com


 

 

Canterbury Property market outperforms Ashford’s by 35%

A landlord with a small property portfolio came into our office on Thursday last week. He lives in the Old Dover Road area of Canterbury and has properties in both Canterbury and Ashford. He wanted to ask our opinion on the property markets in both places and where he should purchase his next Buy-to-Let property. Looking at Canterbury, the average property price is an impressive £291,300 and the average rent is equally high at £1,124 per month. In Ashford, an average property is £267,900, and the average rent is lower at £757 per month. That makes the annual yield / return in Ashford’s average annual yield /return being 3.4% per year, whilst in Canterbury  it is proportionally over a third higher(or 35% to be exact) with an average yield of 4.6% per year.

 However, investing in property is not just about yield. One must also consider the increase in value of the property. This is because there is generally an inverse relationship between yield and capital growth, so the higher the yield, the lower the capital growth and the higher the capital growth, the lower the yield. This means property investment becomes all about balancing the scales. Quite interestingly, property values over the five year in Ashford have risen by an impressive 18.8%, whilst in Canterbury, in the same period, they bucked that relationship and they rose by an even more impressive 23.5%.   This would mean if you bought an average property in Canterbury, your property would have gone up in value by an additional £14,515 compared to Ashford’s and you would have received an extra £22,020 in rent over those 5 years.. a win-win situation!

Therefore, I would say both places can be a good area for an investment property, but it is a decision that shouldn't be taken lightly. These are only averages, so the yields for some 2 bed apartments in some areas of Canterbury can achieve yields of nearly 6% per year, so adding the capital growth, existing landlords have seen a very good return in 2013 .. much better than the Building Society!  

Over the last few months, many first time landlords have contacted me for my thoughts and opinions on what (and not) to buy for their first time buy to let investment. I can give an objective opinion on the whole of the Canterbury property market. Some landlords want high yields, some want no hassle, some good capital growth, some don't know what they want!

I don't charge for my advice because if I offer you the best opinion and we build a relationship, then you might just (and there is no obligation or expectation to this) use me to manage those properties for years to come, a property that we jointly decided met your requirements for the investment .. because that is what it is .. an investment.  So, feel free to pop into our offices on Watling Street for a chat about the property market in our city.

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
 

An area to keep a close eye on.........yep, it's Herne Bay!

Many of my Landlords and Investors are always asking for the next 'hot spot' in the area and there's one area that keeps 'pinging' on the radar, which is Herne Bay. The classic 'right price / right yield' keeps working for my Landlords and as usual, I'm 'scouring' Rightmove, looking for these little gems and this one caught my eye.

The property is on the market for circa £220K with Kimber Woodward, with no onward chain and a bit of haggling should get this one down closer to the £200K mark.

Once rented, a rental figure of £900 per month should be achievable with a nice family rental, which will in turn give you a yield close to 5.5%!.

Check it out at http://www.rightmove.co.uk/property-for-sale/property-31560102.html

No doubt this one will be snapped up soon!

Canterbury East Buy to let deal of the week

Oo, I like this one, a stunning three bedroom apartment (although the agent has put two beds on the details) within St. Andrews Close and would be a great investment opportunity. This delightful property has an open plan lounge/diner and is also the convenience of a balcony. There is one bathroom and an en-suite in one of the bedrooms. The modern kitchen is fully fitted including an oven and hob, fridge/freezer, sink and plenty of storage.

In a brilliant location, the apartment is just walking distance from the city centre and local amenities, including the supermarket, bus station, retail shops and Canterbury east train station 

Its on the market with Williams Estates for £200,000. Click on the link for more pics .. I dont think this will be on the market long

www.zoopla.co.uk/for-sale/details/32488125

Fantastic BTL deal in Homersham - 5.5% yield

Well, Williams have come up trumps with this  well-presented 3 bedroom terraced house on Birch Road. The property has a first and second floor, allowing for two double bedrooms and one single bedroom,  a family bathroom and two separate wc's, it has a fully fitted kitchen, a large reception room adjoined to a conservatory extension. There is also a rear garden with a shed. There is also the added luxury of garage and off-street parking.

On the market for around the £250,000 this will let day in day out at £1,100 per month .. a nice yield of 5.5% pa  (link here  http://www.zoopla.co.uk/for-sale/details/27909785   I have a good feeling about this one.

Nice in side, have a look at the pictures via the link. Won't be on the market long .. mark my words!

Another cracker in Homersham!

On my daily jaunt through Zoopla, yet again we find another little gem in Homersham.

These apartments always tick all the boxes and can be rented out all day long with tenants who are always on the lookout for properties in the Homersham area. This one has just been listed with Geering & Colyer, with a guide price of £170K. Looks like they are looking for a price between £170K and £175K, therefore best to go in at the lower price for starters (no brainer really...........).

Back to the rental figure and we have a number of similar properties renting out between £875 and £900 per month, therefore even at the lower price the yield is a cracking 6.18%, which is somewhat better than your average savings account at the bank!

Take a look at the property at the following link http://www.zoopla.co.uk/for-sale/details/33937032 and mark my words, this one is not going to be around long!

Yield of 7.6% in Studentville - Canterbury

Well this property won't win any prizes for prettiness, but looks can deceive!

A three bedroom apartment currently let to students until June 2015 at a monthly rental of £1,050pcm. The apartment is offered to the market with no onward chain and is located in an area popular with students studying at the University of Kent. There is very well presented accommodation comprising three good size bedrooms, a living room, kitchen/dining room and a bathroom, the price also includes all furniture and appliances.

Have a look at the internals (via the link) .. not bad for a student property .. buy it (even though its a student property!

On the market with Godwin Curtis for £169,995, that's a yield of 7.6%

http://www.zoopla.co.uk/for-sale/details/33892351

Squire Avenue, Canterbury - needs renovation

Well Regal have just put this property on the market for £175,000 .. link here  ... 
 http://www.zoopla.co.uk/for-sale/details/33880083  ..

not bad when you consider the last in this street (No.11) sold for £210,000 a few months ago .. link here  http://www.zoopla.co.uk/property/11-squire-avenue/canterbury/ct2-8pf/5366040 

Needs renovating .. so come on all you Homes under the Hammer fans ... maybe one for you? I don't think she will be on the market long!!

Nunnery Fields, Canterbury .. Buy to let bargain of the week

Victorian converted house ..What we have here is the ground floor giving lots of square footage for your money. Asking a very reasonable £140,000 (Reeds Rain), this one bed apartment will let for £700 per month ..giving a yield of 6.2%. You would need to check but I bet the service charge is next to nothing on it!

Link to the property here .. http://www.zoopla.co.uk/for-sale/details/33838812