Investment Property for sale in Melton Mowbray £139,000

The landlord for this lovely 2 bed Semi-detached property in Melton Mowbray is looking to sell but he has good tenants so would ideally like to sell to a Property Investor. 

It is a great 2 bed with a garden and off road parking so lets really easily. 

It is not yet on the open market but if you would like more details please give me a call on 01664 569700 

Charlotte Baker

How will the General Election result affect the Private Rented Sector in Melton Mowbray?

The General Election provided a result that no one had expected - least of all Theresa May!

There will inevitably be a period of uncertainty for the Nation added to by Brexit negotiations, inflation and reduction in the value of the pound.   The stock market is at an all time high so has only one way to go.

Against this background those with money to invest should look again at the Buy to Let market.   We have reasonable house prices compared with other parts of the UK, making investing in property an achievable aim.
In addition we are currently seeing an increasing demand for houses to rent from a high proportion of the local population choosing and needing to rent.   

Demand for housing will continue to outstrip supply in Melton Mowbray.

We need a balanced housing market for the town; remember that without investors coming into the market the supply of rental properties will be low and rents will continue to increase.

If you are considering investing in a property then think wisely about your opportunities - do your research and remember that as an investment it needs to perform well.          

Come and talk to us about the pros and cons of being a Landlord and take advantage of our considerable experience in the local marketplace.  There is no obligation and we will help you understand all the costings to make sure that it is the right choice for you.

Charlotte Baker 01664 569700 

Family home on Meadowsweet Close - secure yield and good capital growth potential

This is a really nice family home on the market for sale with Richard Watkinson for £180,000. It is advertised as no chain and this is a lovely estate so it would easily let for £ 675 pcm. 

This could give a potential return of 4.5% but more importantly it is the type of house that would see a good rate of capital growth over the long term. With this type of property there would be minimal void periods and maintenance cost should be at a minimum as it was recently built.


http://www.rightmove.co.uk/property-for-sale/property-48807645.html

Melton Mowbray house values increased by over 9% since the last election.

We last went to the Polls in May 2015 and a lot has changed for the UK since then.    So how has this affected the Melton Mowbray housing market?

There is a lot of talk at the moment of how Brexit could affect the housing market.    I believe a lot of it includes the London property market which could be greatly affected as there is so much foreign investment to consider.

I wanted to look closer to home; I like to understand how the properties my landlords have invested in have performed for them.   Many of my landlords have invested in Melton Mowbray as they are local to the area and investing in a location you are familiar with will always feel a safe option.

Give me bricks and mortar any day over stocks and shares!

I looked at the properties in LE13 and LE14 to see what had sold and what prices had been achieved.

I researched sold prices for detached and semi-detached since May 2015.   Interestingly I found that overall house prices in LE13 and LE14 have seen an average increase of 9.09% in that short time.

Furthermore, since May 2015, semi detached properties in LE13 had seen a 4% rise in value; detached properties had seen an average of 13.54% increase during the same period.

Who knows what will happen over the next 2 years?    I am sure of this – people will still need a roof over their heads and with an expanding population, a good location for employment and education, I believe the Melton area will continue to be in demand by buyers and renters alike.

The high prices seen in the London property market may take a hit.   But if you are looking at ‘buy to let’ and choose wisely then you can have a successful property investment.

Contact me for honest rental returns on potential investment properties - Charlotte 01664 569700

Melton Mowbray potential 5.7% return

Melton Premier have just listed this 2 bedroom terrace property which has off road parking. It would easily let for £550 pcm and looks to be ready to go. 

This is on the market for £114,950 - it is a busy road but having the parking space means it will let quickly. 

http://www.rightmove.co.uk/property-for-sale/property-66447266.html

Asfordby or Melton Mowbray – Where to invest?

Searching the local property market I am finding it really difficult to find anything for sale under £150,000 that’s appealing to investors these days.

I came across a spacious 2 bed terrace in Asfordby Hill, on the market with Melton Premier for £129,950.  It looks in good condition internally and has a large kitchen for a terraced property. We would achieve £575 pcm for this and it would give you a potential yield of 5.3%.

http://www.rightmove.co.uk/property-for-sale/property-66306074.html

Properties in Asfordby seem to come onto the market for slightly lower asking prices than similar properties in Melton Mowbray. This has always seemed a bit odd to me as the area has good Primary Schools and allows commuters to access Leicester and Nottingham easily, avoiding Melton town centre so is popular with tenants.

So I wondered how the values of the properties in Asfordby had performed when compared to Melton Mowbray.  

I looked at modern 2 and 3 bed houses that had sold within in the last 5 years, to compare the prices achieved in 2011 and 2016.

Asfordby semis have seen an average increase in value of 15.5% since 2011. Melton Mowbray properties had seen an average of 15.25% in the increase in the value over the same period. This data is available from Land Registry and I could only draw from a small sample as I wanted to look at the recent actual sold prices.

There were a few larger properties that had seen capital growth over the same period of 30-40%.

It seems to me that you may pay a little less for a property in and around Asfordby but they still perform well on capital growth and are often better on the yield.

Any property investment should be researched so if you would like an honest opinion on what rent a property could achieve give me a call or pop into see me.

Spacious 2 Bed 5.3% Potential Return - £129,950 Asking Price

This nicely finished spacious 2 bed property has been listed with Melton Premiere and is at Asfordby Hill. Although Asfordby can be considered a poor relation to Melton Mowbray by some people it has good primary schools and is a perfect location for people travelling to Leicester and Nottingham.

It doesn't have a garden but it does have a private area at the back and access to a large communal green space, less for a tenant to look after or for a landlord to put right? 

With an asking price of £129,950 this has to be worth considering, we would achieve £575 pcm for this property.

http://www.rightmove.co.uk/property-for-sale/property-66306074.html

3 bed for £170,000 - ideal for a family let

Benton's have listed this 3 bed semi for just under £170,000 near to Baldocks Lane. It's a property that would appeal to families and would easily let for £650 pcm. 

It looks a good option when you look at what else you can get for a similar price - there seems to be a lot of 2 bed or properties needing a lot of work coming on the market for sale at this sort of value. 

http://www.rightmove.co.uk/property-for-sale/property-59562013.html

What Could You Buy to Let in Melton Mowbray This Week?

 

If you are investing in property then you should consider the yield and the capital growth - but there is no 'one size fits all' calculation that will tell you if the property is the right investment for you. There are factors affecting you as an investor as well as what the property has to offer.  Let's consider what's available this week and what returns one might expect.

There is a modern 3 bed property for sale with Moores for offers over £160,000 located on the Doctors Lane development. It's a newly built property with a dining kitchen and is a good size compared to some of the other styles in the same area. We would expect to achieve £650pcm for this if it came onto the current rental market. This offers an easy quick return as it doesn't require any work and you would expect it to need little on-going work as it has been recently built to modern standards.

 http://www.rightmove.co.uk/property-for-sale/property-65430482.html

 

 

 

 

If you are looking for a project and to add capital value then Bentons have a 3 bed on Staveley Road for £150,000. It needs refurbishing and perhaps the living accommodation re configuring to appeal to today's tenants but it is large and has the scope to add off road parking. This type of property in this area could see £675pcm if there was off road parking and it was renovated throughout. It's important to consider the capital value after the refurbishment as every area has a ceiling price you could expect to achieve.

 http://www.rightmove.co.uk/property-for-sale/property-59422024.html
 

 

 

 

 

Then there is a 3 bed terrace property on Cromwell Road in Melton Mowbray - for sale with Harrison Murray for £139,950. It's ready to go looking at the pictures on Rightmove and we regularly achieve £600pcm for this type of property. I would advise you get a survey on any property before you purchase but especially the older Victorian properties like these. If they have been well maintained they can provide a reliable income.

 

http://www.rightmove.co.uk/property-for-sale/property-65941001.html

 

 

I am always honest with any rental valuation and I am happy to talk through the pros and cons of any house you might be considering investing in. Now more than ever it's essential you make the right decision.  Give me a call on 01664 569700 or follow my blog www.meltonmowbrayproperty.com Charlotte Baker.

Edendale Road - Great investment opportunity

This property is up for sale with Anthony Hancock for £159,950. It is on Edendale Road and is a nice 3 bed semi with a garage and would get £650 pcm in the current market. 

It could do with a little updating inside but it looks to be a sound property investment. These let really well. 

http://www.rightmove.co.uk/property-for-sale/property-65731577.html

3 Bed Modern Property with a Tenant in situ

This property is currently has a tenant paying £610 pcm. if it came up for re let then we would expect to achieve £650 pcm. Moores are marketing this for £167,950 and it could work if it was purchased st the right price. 

The best thing about it would be the fact that you would have a tenant paying rent from the first day, even if it is a little under the potential rent the property could achieve.

http://www.rightmove.co.uk/property-for-sale/property-65430482.html

Oak Road, £150,000 - 5% potential return

This is a good size 3 bed on Oak Road, for sale with Connells. It has off road parking and looks to be in good order inside but there are no pictures of the garden - it would need to have some outside space for this family house!

With a small garden you would easily achieve £625 pcm.

http://www.rightmove.co.uk/property-for-sale/property-65581895.html

Melton Mowbray Free Property Investors' Event

We are really excited to be a part of this! Email gill.bland@belvoirlettings.com to book your place and further your knowledge of the local property Market.

Wicklow Avenue, Melton Mowbray £165,000

Marketed by Taylors this property has rather uninspiring photos but this 3 bed semi is in a really popular area. These regularly let for £650 pcm and is in the sort of area that achieves good levels of capital growth.

Its on the market for  £165,000 with no upward chain so would certainly be worth making an offer in my opinion...

http://www.rightmove.co.uk/property-for-sale/property-47426187.html 

      

Rents in the East Midlands have seen higher % rises than rents in London

Back in February I looked at how Melton Mowbray’s house prices had performed over the last 12 months and I have been searching for data around the performance of rents in our area.   

The Office of National Statistics have released the Index of Private Rental Housing Prices (IPHRP) which looks at the percentage changes of rents over the last 12 months.

The Index of Private Housing Rental Prices measures the change in price of renting residential property from private landlords.  The index does not measure the change in newly advertised rental prices only, but reflects price changes for all private rental properties.

It does this by looking at the data collected by the Valuation Office Agency (VOA) who use rental officers to collect the price paid for privately rented properties. 

The data is broken down into regions and its good news for East Midlands landlords.

The East Midlands have seen a greater % increase in rents over the last 12 months than London and was also higher than the average for England.   Between January 2016 and January 2017 London rents have seen an increase of 2.1%, in the East Midlands we have seen an increase  of 2.8%.   This was matched by the South West and beaten only by the East of England at 3% and South East which saw a 3.3% rise in rents.

% change in Rents from January 2016 – January 2017

The report summarised that the increase in rents was due to demand for rental property outpacing supply.   RICS (Royal Institute for Chartered Surveyors) and ARLA (Association of Residential Letting Agents) are both reporting a continued rise in tenant demand.

We are certainly seeing increased tenant demand in and around Melton Mowbray and properties are letting really quickly.   If you are considering investing in a property please give me a call or pop in to see me at our office on Burton Street for an honest opinion on rental returns. 

Lovely Victorian Semi - £137,500 potential 5.2% return

Where have all the new properties coming onto the market gone?

I seemed to have a lot to look at in February and a few good ones to consider but there seems to be a real shortage of new properties coming up for sale that I would consider a good buy to let property. This is still up for sale though and I think it looks really good -and would let quickly...

This 2 bed Victorian semi is on the market for £ 137,500 with Bentons and is located in Asfordby Valley. We would expect to achieve £595 pcm for this.

http://www.rightmove.co.uk/property-for-sale/property-58390624.html

    

The Private Rented Sector doubles in size since 2002

The office of national statistics have released the first set of data from the 2015-2016 for the English Housing Survey.  This survey is a national survey of people's housing circumstances and the condition and energy efficiency of housing in England.

It makes interesting reading about the nations approach to housing and gives us an idea of how the private rented sector is performing. 

The report found that in 2015-16, the private rented sector accounted for 4.5 million or 20% of households.   Throughout the 1980s and 1990s, the proportion of private rented households was steady at around 10% but since 2002 the sector has more than doubled in size.

This report also looked at who was renting property – they identified that over the last 10 years the proportion of young people renting property in the private rented sector has increased dramatically.

In 2005-2006, 24% of those aged 25 – 34 lived in the private rented sector but by 2015 -2016 this increased to 46%.

Over the same period, the proportion of 25-34 year olds buying with a mortgage decreased from 53% to 35%.   Households aged 25-34 are more likely to be renting privately than buying their own home, a continuation of a trend first identified in 2012-13.

Interestingly in the private rented sector, the proportion of households with children increased from 30% to 36%.   Given the sizeable growth of the private rented sector over this period, this six percentage point increase equates to about 945,000 more households with dependent children in the private rented sector.

It just goes to show that we need a healthy private rental sector to cater for the needs of families as well as young people.    Melton  Mowbray is a busy town that offers goods schools and is ideally located for Leicester, Nottingham and the A1.   It will continue to attract families and I hope that we continue to see investors coming into the private rented sector.

If you are thinking of purchasing a property to let keep an eye on the blog for potential properties that would give a good return. 

Potential Investment with a tenant in place

This apartment is on with Harrison Murray for £119,950 and currently has a tenant in situ paying £575 pcm. 
It is only available for investors to purchase so with rent from day one it could give a good return - even when you take into account the management fees. 

http://www.rightmove.co.uk/property-for-sale/property-64954868.html

Investments in the Melton Mowbray area for under £150,000

Looking in  Rightmove today there are a few new properties I thought looked like good opportunities for a buy to let investor all with a potential return of over 5%...

This 2 bed Victorian semi is on the market for £ 137,500 with Bentons and is located in Asfordby Valley. We would expect to achieve £595 pcm for this.

http://www.rightmove.co.uk/property-for-sale/property-58390624.html

    

What about this lovely 2 bed ground floor apartment in Long Clawson? Its also on the market with Bentons for £ 139,950. It has a lot of character and would achieve £595 pcm.

http://www.rightmove.co.uk/property-for-sale/property-58370545.html

    

Both of these properties would let quickly and appeal to the tenants we currently have registered with us. 

Rosebery Avenue £124,950 - 5.5% potential yield

This has been refurbished in a very tasteful way and would really appeal to tenants. It is on the market with Newton Fallowell for £124,950 and with the retained character features and lovely bathroom this property would let for £575 pcm.

This could generate a yield of 5.5% if purchased for the asking price. It would let very quickly. 

http://www.rightmove.co.uk/property-for-sale/property-58226131.html