Leigh on sea property - 3 bed semi-detached house - Buy-to-let opportunity

I've just come across this 3 bedroom semi-detached house on the market with Bairstow eves in Leigh on sea for offers in the region of £190,000.

Properties in and around Leigh on sea are always in high demand - particularly for rent - and it looks like it is in good condition, perhaps only in need of a minor 'face-lift'.

I would expect the property to achieve a monthly rental amount of £950 to £1000 giving you a yield of 6.14 % as well as the potential for some good capital growth.

I would recommended a quick viewing on this as its will go fast!!!
Have a look at the property here:

http://media.rightmove.co.uk/dir/1k/249/33099270/249_LEI140320_IMG_00_0000_max_214x143.JPG

Leigh on sea property with a 5.85 % yield.

This place is being marketed by Ashleigh stone and with no upper chain its screaming out to me that there's a deal to be done here in fact it's cheap already!  And if its needs some work there should be an opportunity to add value to this.

You could rent this 1 bed flat for £750 which would give it a 5.85% yield - which is at the top end of potential yield you can get in Leigh on sea for a 1 bed flat.

Have a look for yourself here:

http://www.rightmove.co.uk/property-for-sale/property-32814672.html

I wouldn't be surprised if it's already gone.

If you're interested in investing in the local area but aren't sure what to go for or where the come and have a chat with me.  I don't sell houses so my opinion is completely impartial and completely free. You can get me on 01702 477754 or email Robert@castleestateagentsltd.co.uk.

Want to know a bit more about Letting in Leigh on sea?  Check us out here:

www.castleestateagentsltd.co.uk

Average house prices stand at an average of £188,446.

The property market started the year on the back foot with annual house price growth slowing for the fifth month in a row, figures showed today.

The average cost of a home increased by 6.8 per cent in the year to the end of January, according to Nationwide Building Society.

The gain was the smallest annual rise since November 2013 and was down from year-on-year growth of 7.2 per cent in December.

image: http://st.zoocdn.com/zoopla_static_cms_content_cms_document_assets_(282458).jpeg

Robert Gardner, Nationwide’s chief economist, said: “The further moderation in the pace of price growth is unsurprising, given the slowdown in housing market activity in recent months.

“The number of mortgages approved for house purchase has been around 20 per cent below the level prevailing at the start of 2014 and surveyors continue to report subdued levels of new buyer enquiries.”

But he said that the reasons for the slowdown in activity were less clear, as unemployment was falling and wage growth had started to outstrip inflation for the first time since the financial crisis.

He added that although the rate at which house prices are rising was continuing to outpace income growth by a significant margin, affordability at a national level did not appear to be stretched.

The cost of servicing a typical mortgage also remains close to the long-run average as a share of take-home pay.

Despite the slowdown, prices still rose by 0.3 per cent in January, to stand at an average of £188,446 – 2.4 per cent higher than their pre-crisis peak.

Going forward, Nationwide expects the housing market to regain momentum in the coming months as the economy continues to improve.

Data from the Land Registry, also out today, showed a 0.6 per cent jump in house prices in England and Wales during December.

The increase left the average home costing £177,766, slightly below the peak of £181,138 reached in November 2007.

The market continued to show considerable regional variation, with house prices in London soaring by 1.8 per cent during the month, leaving the typical home in the capital costing £464,936 – more than double the national average.

Property values also rose by a strong 1.5 per cent in the east, while they were up 0.7 per cent and 0.6 per cent in the south east and Yorkshire and the Humber respectively.

But at the other end of the scale, prices fell by 1.6 per cent in the north west.

The average cost of a home in the region has increased by just 1.5 per cent during the past year to stand at £110,548.

Property values also dropped in the south west, falling by 0.9 per cent during the month, while they dipped by 0.7 per cent in the West Midlands and were down 0.5 per cent in the East Midlands.

On an annual basis, prices increased by 7 per cent across England and Wales as a whole, down from a rise of 7.2 per cent in November.

The figures also showed that 1,132 homes changed hands for more than £1m in October, the latest month for which figures are available, the equivalent of more than 36 properties a day.

Meanwhile, a member of the Bank of England’s Monetary Policy Committee suggested interest rates could stay at their current record low for some time.

Andy Haldane, the Bank’s chief economist, said the MPC was in no hurry to raise the Bank Rate, and when it did start increasing rates, rises could be as low as 0.5 per cent a year.

Speaking to the Daily Post newspaper, he added that the norm for rates could become 2 per cent to 4 per cent.

His comments are good news for homeowners, who look set to benefit from low mortgage rates for some time to come.

Read more at http://www.zoopla.co.uk/discover/property-news/smallest-gains-in-house-prices-in-a-year-29-01-15/#POJx2Of024cjJJ2m.99

FIX YOUR MORTAGE AT 3.5% FOR 10 YEARS

One of the big risks to all landlords, myself included, is rising mortgage rates. We've been insulated from this for a while now - rates have been at an all time low for many years - but don't be complacent about that - just as some people allowed themselves to believe that property prices couldn't crash, in 2007 they did. In the same way whilst some people believe that mortgage rates will never rise, at some point, they will! As such fixing your rate at a manageable level can be a good idea. 

There was good news for investors this week as a couple of mainstream lenders announced 10 year fixed mortgages from under 3.5%. Until now this sort of offer has been available for private purchases but not for investment properties - that is clearly changing. If you're investing for the long term, as many new purchasers are, this means you can have visibility of your main cost for a decade.
This means spending £125,000 on something that will rent for £600PCM (there are a few options in this price range), will mean you would end up with a monthly mortgage payment of less than £250, fixed for 10 years - so the income and cash flow would be pretty good. I have an investor applying for one of these things currently - she's taken £30k out of her bank, expects to get £250 per month income after all costs - a 10% return (based on the £30k), plus the benefit of (hopefully) appreciating property prices over the next 10 years. 

New mortgage products like this, or changes to pension rules which take place later this year, have the effect of drawing even more people to investing in property. If you're thinking of the same, and want to discuss your options, please get in touch with us for an initial chat. 

Check out this little beauty in Leigh on sea!

http://www.zoopla.co.uk/for-sale/details/34033894?

Calling all potential landlords!! Not sure what to buy? try this one on for size!

A lovely little 2 bedroom house in Bramble road Leigh on sea. This area is  popular with families due to the schooling, so to buy an investment property in this area, should be a good bet right?

This house is on the market with Bairstow eves for £200,000. It maybe could benefit from a freshen up in the paint department and maybe a couple of new carpets, but nothing too drastic. Once brought back up to standard, you could be looking at a rental amount of £850 pcm. Based on these figures, you are going to be looking at a potential return of 5.1%. 

These little properties are selling like hot cakes at the moment, so don't hang around, call Bairstow eves  sooner, rather than later!

St. Lawrence Gardens, Leigh-On-Sea, - Ideal buy to Let

Abbotts, the Estate Agents, have just put this nice 2 bedroom flat on the market for a very reasonable offers over £150,000

Here is the link   http://www.zoopla.co.uk/for-sale/details/35609517?

.. its nice inside.

Will rent well at £750 per month great yield of 6% 

and sells well ... don't hang about .. I think it wont be long before it goes

Leigh on sea - 2 bedroom First floor flat circa yielding 6%

This is one to watch - Lovely Converted flat

Today, I have noticed this great potential rental investment property in the very popular area of Leigh on sea

What we have here is the first floor giving lots of square footage for your money. Asking a very reasonable £270,000 (Ashley stone), this two bed apartment will let for £850 per month ..giving a yield of 4.1 %. You would need to check but I bet the service charge is next to nothing on it!

 http://www.zoopla.co.uk/for-sale/details/35632482

A new property portal is coming... OnTheMarket.com

On Monday 26 January 2015, a new property portal - OnTheMarket.com – is launched. The arrival of this brand new portal is a very exciting development for the property market.

The portal is run by Agents’ Mutual, which is made of a membership of over 2,000 property agency firms, amounting to 4,000 offices. It is envisaged that the membership will grow significantly once the portal goes live. The motivation of the portal is to deliver the best user experience for prospective tenants, with results produced clearly and in an uncluttered way with no pop-ups or third party advertising as is found on the other major portals.

To give the portal a chance of establishing a meaningful presence, each member agent will only be allowed to display properties on one other major portal. As such, Castle estate agents undertook a detailed investigation into its own property portal data, looking at numbers of phone calls and email enquiries generated from both Rightmove and Zoopla. Further analysis into the quality of leads, as well as the conversion of leads received to successful lets was also looked at in detail.

In conclusion, we decided that that the best portal for Castle estate agents to appear on, as well as OnTheMarket.com, would be Rightmove. Rightmove not only delivers more enquiries to Castle estate agents, but the quality of those enquiries are, in our opinion, higher than those received from Zoopla.

Rightmove is, in our opinion, the market leader, ranked 8th in the list of the most viewed websites in the UK, well ahead of Zoopla at 35^th. Google has announced that it is the most searched for business in the UK, thus adding further evidence that Rightmove is the right choice.

We believe the combination of our own website, www.castleestateagentsltd.co.uk, together with OnTheMarket.com, the new entrant with all the publicity that will ensue, as well as Rightmove, the most established and dominant portal in the market, will give our clients properties unrivalled exposure in respect of online marketing.

From 26th January 2015, properties being marketed by Castle estate agents will no longer appear on Zoopla.

At Castle estate agents, we firmly believe that this is an exciting time for the property market and we believe OnTheMarket.com will be of long-term benefit for all those with an interest in renting property in our local area.

If you have any questions regarding the above, please feel free to contact me.