Tamar Road - This weeks potential investment hotspot!

Two properties have come up for sale in the Tamar Road area this week - details below. This is a popular estate in Melton Mowbray that is mostly made up of good sized 2 and 3 bed houses. This area has always let well, I think because of the size of the rooms and the location is convenient for getting out of Melton towards Leicester. There is also good provision for off road parking for most of the houses on the estate.

The properties are in the vicinity of the Swallowdale Primary and St Francis Catholic Primary Schools and are really popular with families looking for a long term let. 

Depending on the final purchase price both these properties have a potential return of over 5% yield. 

Harrison Murray have this 2 bed for sale on Tamar Road-  for £129,950. It looks to be in good condition and would achieve £575 pcm

http://www.rightmove.co.uk/property-for-sale/property-67719074.html






Shoulers have this on for sale on Loxley drive for £135,000 - it comes with a garage. It looks lovely inside and would easily achieve £575 pcm. 

http://www.rightmove.co.uk/property-for-sale/property-60930883.html

Melton Local Plan – a boost for the Melton Property Market?

I have been hearing about the revised Melton Local Plan that was discussed at the full council meeting on the 4th July.  

There have been a series of amendments made to the plan and these include the number of new properties to be built in the area and the transport strategy – including the relief road.

The full details of the amendments to the plan will be available at www.meltonplan.co.uk where you can review the changes and have the opportunity to make your views known.   I hope the plan continues to move forward as the town really needs to see improvement to the traffic flow.  

There is a massive demand for housing and with so few properties coming onto the market for sale we are seeing prices continue to rise. I believe the lack of properties for sale and to rent in the town are continuing to push up prices across the board.

This is contrary to the national trend of a drop in rents recorded in June vs. May 2017 as the figures released by HomeLet seem to suggest.    In many areas, including Greater London and the South East they are seeing a fall in the average rents of a new tenancy.

The East Midlands though saw a rise on last month’s rents of 3.3% according to the HomeLet Rental index which seems to be showing similar patterns to the Belvoir rental Index for the East Midlands which I talked about last week.

The Melton Plan should eventually outline how the town will grow over the coming years and anyone investing in property or considering investing in a buy to let should keep an eye on the plans.

There are opportunities to purchase houses now that will offer secure and reliable incomes and offer a level of capital growth that will outperform other investment options if you buy wisely.

For honest rental returns keep an eye on my property blog and see what properties are on the market that could fit the bill.   Alternatively if you have seen a property on the market for sale and wonder what it could achieve or if there are any pitfalls with the area you should know about please give me a call on 01664 569700.  Charlotte Baker

Upcoming Auction *guide price £128,000* rent achieved £650 pcm

This property is being advertised by Melton Premier as going to an online auction ending on the 2nd August 2017. the guide price is £128,000 and while it may achieve more than this we have in the past let this property for £650 pcm. 

The real benefit of this 3 bed is that it has off road parking and has been extended. Whilst I have not been inside the house for the last few years it looks from the pictures to be in good order.


http://www.rightmove.co.uk/property-for-sale/property-65935619.html

Kings Road, 3 bed semi - Investment Property

Harrison Murray are advertising this 3 bed property on Kings Road for £154,950. It has been extended and has an off road parking space. 

This is a popular location due to the local primary school and this property would achieve £625 pcm. Its the sort of property that would appeal to a family looking for a long term let so should have minimal void periods for the investor. 

http://www.rightmove.co.uk/property-for-sale/property-67384379.html

Melton Mowbray - reduced to £125,000 potential 5.3% Return

*********Update - this has been reduced to £125,000*************

This may be a terrace on a busy road but it has been extended slightly to offer a larger than usual kitchen It also has a garden and with 3 bedrooms would achieve £575 pcm.
Melton Premiere are marketing it for a shade under £130,000.


http://www.rightmove.co.uk/property-for-sale/property-66672614.html

Average Rents Increase across the UK

The rental index for Belvoir Quarter 1 2017 has been released which looks at the rents Belvoir offices are achieving across the UK.   It is produced by property professional Kate Faulkner and is available at www.belvoir.co.uk.

The overall trend for the UK shows the average rent of a property is at an all time high and up 4.5% versus Q1 2016. 

Looking more locally at the East Midlands our rents in Q1 2017 have recorded a 7.5 % increase when compared to the same period in 2016.  This certainly reflects what we are seeing in Melton Mowbray. 

The reasons for the increase can be due to the larger number of higher value properties, which when coupled with less rental stock in the market can artificially raise the year on year rental increase. 

However we are seeing a new trend in offices throughout the UK.  There are increases in rents where there is a low availability of properties on the rental market.  This is something we see in the Melton Mowbray and surrounding villages.  The demand from tenants and the lack of supply of rental property is certainly increasing the rents we can achieve. 

If you would like advice on what a rental property can achieve give me a call on 

01664 569700 or follow the blog.