Monthly statistics for Warrington in January 2015

                       


Time now for a quick round-up of what has been happening in the sales & lettings market in the Warrington area throughout January to date. 2015 (figures obtained from Rightmove and do not include private lets):


                    


You can see from the rental figures above, that it is 1, 2 & 3 beds that are most in demand, with 2 beds being the most popular by some margin. If you look at sales, it seems 1, 2 & 3 beds are what people want to buy, this time it is 1 beds that win the race.

So, as an investment, what should you buy? 

Well demand is there to rent anything up to 3 bedrooms, but there are already a high number of potential private purchasers chasing those same properties, so this will inevitably increase pressure on availability and start to drive prices up, whereas 1 beds are in a lot less demand by purchasers, yet these are often prized by renters. Our experience here tells us that 1 & 2 beds will always find a rental market, they will always rent out quickly but there will be more churn (turnover of tenants), and these will command a slightly higher yield than 3 beds. However, for families wishing to rent, 3 beds are a must, and in the catchment area of great schools (particularly secondary) they will always be in high demand and with less churn, and it is these properties that tend to offer better scope for capital growth in the long term whilst providing a steady yield of around 6-8.3% yield today.

If you would like some advice about buying to let, whether you are a landlord with an existing portfolio or someone thinking of investing in the Warrington rental market for the first time, please email me on tpatel@hamlethomesproperty.co.uk  or pop into our office on Crosfield Street, 6 Bankside, free parking available at the front of the office in Warrington.

If you enjoy reading my blogs, please take a look at our other on-line resources,
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Twitter,https://twitter.com/HHWarrington
Website,http://www.hamlethomeswarrington.co.uk/

Ideal First Time Investor Property 8% Yield

Morning house hunters.This is one for all first time investors, if you want a stress free deal, this is just the one for you!

This interesting property has just come onto the market in Bewsey, Warrington, opposite the hospital on Lovely Lane with Exceed Estate Agents for £69,950K. The house does not need any work doing to it, its in great condition, with two double bedrooms which will attract tenants very quickly so voids will be at a low, also the location is great for potential student doctors or nurses, 15 minutes walk into town.

These properties, should rent out for circa £475 per month, which would give you a cracking yield of 8%! Try getting that from the bank! out of interest, I spoke with a Landlord last week who told me his bank offered him a savings rate of 3% on £250K………what a laugh!

As always, if you are in the area then feel free to pop into the office, free parking available and the kettle is always on, in the mean time take a look at the link below to this property and if you want to talk through this particular deal then drop me an email on tpatel@hamlethomeswarrington.co.uk

Happy hunting.

http://www.rightmove.co.uk/property-for-sale/property-33449781.html

Landlords/Investors – does your letting agent go THIS far?

Anyone can set themselves up as a letting agent these days, they can offer cut-throat discounts to their fees, take out a full page ad in the local paper, but is that really good value to you as a landlord?

What about an agent who keeps you informed of how the local market is performing, often comparing several areas and explaining why yields and rentals are as they are, and how you can look at getting the best value from your property? Now that sounds interesting.

What about when you start to think about your next investment property, wouldn’t it be great to talk things through with an agent so that you don’t buy the wrong property in the wrong area that the market does not want? Sounds like a great idea!

So what about when you get the germ of an idea, you want to invest in a Buy To Let, but you don’t even know how or where to start? Suppose you COULD visit an agent, and you could look at a number of options with regards to funding, and you could throw ideas around as to what you want to buy and ask for a professional opinion on your thoughts, perhaps they could even go on site visits with you to help you understand what to look for, give you advice on how a property should be presented and how to cost any remedial works, or even better – maybe they already had a list of properties that were already suitable and they had worked out the maths for you, showing how and why any given property would make financial sense as an investment? Now that’s got your attention!

Or how about this – having gone through all of the above, you still want more support, and just want to hand over the keys to the agent and ask them to project manage, source and co-ordinate the tradesmen required, arrange for all legal compliances to be met and even for the whole property (including the oven and windows) to be cleaned before the tenant moves in? Convinced yet?

You see, here at Hamlet Homes Property Warrington, we don’t just take on new properties and let them out, we go back a stage or two and look to work with potential investors at the start of their journey and stay with them right through to letting & managing their new property, and that is where all of the above comes into play.

The cost for all this? Precisely £0, nada, nothing. The value to you though – immeasurable.

If YOU want to be the first to know about what would make a great Buy To Let investment that is currently available either on the open market or via our own sources (landlord to landlord sales etc), call us now and get your name put on our Investor list on 01925 235338, pop through the door of our offices on 6 Bankside, Crosfield street or send us an email over to tpatel@hamlethomesproperty.co.uk

Over 8% return in Warrington...read on!

These flats seem to be going like hot cakes at the moment, both for Selling and Letting. For some reason, everyone wants one! This is probably down to the fact that you can get quite a decent sized property, for not a lot of cash!

This particular 2 bedroom apartment is on the market for £64,950, expected rent on this is around £450. That will give you a yield of  8.3% however the local skip is close by and plans are in process for it to be moved which will happen over the next 3 years, once that moves the property values will rocket as well as the rent so be expecting massive capital growth with great yields, Dont hesitate and arrange a viewing, there is a lot of activity on the market even after the festive period, this will not be on the market long.

If you would like any advice on buying to let, give me a call, or pop into my office on Crosfield street for a chat and a cuppa, or drop me an email on tpatel@hamlethomesproperty.co.uk

What type of property sells best in Warrington?

Knowing how saleable a property is half the battle when deciding what (or not) to buy for your next property investment. Why? Well because one day, you may need to sell that property. If you go into the purchase with open eyes, you know most of the risks and can barter the price accordingly if you have to. Bearing this in mind, last week, a couple from Culcheth popped into our offices to ask about investing in property. Their concern was if we have another property slump (and we will because that is what has happened to the British property market ever since the 1950’s), if they did need to sell, what type of property would be easier to sell. Now everything sells, even during a slump, but I did some research and followed up their query – I was actually quite surprised with the results.

A good guide to judge the saleability of property is the number of properties for sale, compared to the numbers that are sold, subject to contract. Now I carried out this comparison last week, so the numbers will be marginally different today, but of the 132,000 households in Warrington there are 2,529 properties on the market for sale. Of those 2,529 properties, 1,881 properties are fully available on the open market waiting for a buyer and 648 have buyers and are sold subject to contract. That means 34.4% of property on the market has a buyer in Warrington.

However, delve deeper, and in Warrington today, a reasonable 27.1% of detached houses on the market have a buyer and great news for semi detached property owners, as 50% of them have buyers. Terraced houses fair slightly better than detached houses, with 142 of the 466 on the market now having buyers (making 30.4%). The properties that appear to be sticking though are apartments which are comparatively lower than a semi detached house 32.4% and bungalows at 40.9%.

I am always giving advice to my existing and new landlords in Warrington on what to buy (or not as the case may be). Having this detail of information at my finger tips, allows me to spot trends in the local market, which then enables to me to give the very best advice to my clients. I don't charge for that advice as I have plenty of opportunity to earn money by finding the best tenants for my landlords in the years to come, so if you would like some advice about buying to let, whether you are a landlord with an existing portfolio or someone thinking of investing in the Warrington rental market for the first time, please email me on tpatel@hamlethomesproperty.co.uk  or pop into our office on Crosfield Street, 6 Bankside, free parking available at the front of the office in Warrington.

3 Bedroom House in Warrington 8.2% Yield

Good Morning property hunters, I thought id start early today to see what potential opportunities are available in Warrington. 

Well i have spotted a 3 bedroom house, which does need work doing inside it hence why there are no internal shots, iv made a quick call to the estate agents to get a ball park figure on refurb costs which look to be coming in at around £5000 combining that with the property price of £74.950 i think this is a good investment. 

We have houses on this street very which are very similar and rent out between £525 - £550, you are looking at a potential yield of 8.2%

I get constant enquiries by tenants for 3 bedroom houses in warrington, so i know there is a huge demand for this, voids would be very low and usually a house like this will attract a family with young children so your looking at long term tenants as they tend to enrol the children into local schools. 

The property is on the market with Edwards Grounds on Sankey Street. Dont take to long to think about this, just give them a call and arrange a viewing and if you want to have a chat about it or just a chat about the Warrington property market in general give me a call on 01925 235338 or drop me an email on tpatel@hamlethomesproperty.co.uk.

http://www.rightmove.co.uk/property-for-sale/property-33323370.html

Stress Free Deal in Warrington

Hope everyone had a good weekend, its been a busy morning so iv just come around to doing my RM travels and iv come across a stress free ready made deal, great for a first time investor.

Now with this property, the potential return isn't as high as others that you can get in Warrington, although it's still not that bad. Being a 2 bedroom house it already has a tenant in the property, usually these houses rent for around £500pcm.

This really is a ready made deal, giving a yield of 6.9% from day one. So there is no issue about void periods. The property is on the market for £86.500, no work needs to be done on the property and you can potentially knock some money off the asking price which can always be a bonus.

If you would like any advice on investing in Warrington, give me a call on 01925 233338 or drop me an email on tpatel@hamlethomesproperty.co.uk

http://www.rightmove.co.uk/property-for-sale/property-47892841.html

What will the property investment market be like in Warrington in 2015?

A number of landlords, who own property in Warrington, have made contact with me recently asking for my thoughts on the future of the buy to let market in Warrington. In previous articles, we have talked about Warrington’s history of rents, property values, tenant demand and yields; all important matters for a landlord, but we haven’t discussed the future.

Property values rose by 6.24% (Dec 13 to Dec 14) in Warrington. Good news all round, but when you consider how property values in the town have previously performed in the last 5 years, this is not as good as the media would have you believe. The figures show that between Dec 2012 & Dec 2013, there was a 7.72% increase, between Dec 2011 & Dec 2012 an decrease of 0.27%, between Dec 2010 & Dec 2011 a decrease of 5.14% and finally between Dec 2009 & Dec 2010 a increase of 7.06%!

It should be no great surprise to hear that Warrington property values are starting slow up as we start the New Year. Property values in the town were growing at a steady rate in the early part of the year, but since October they slowed right down and decreased by 0.02%.

The reality is that we have had a year and a half of decent market conditions in Warrington, but now all that pent up demand is starting to fade. The big question moving forward is whether the Warrington market will now be held back by affordability and restricted mortgage lending, and what long term impact this will have on the Warrington property market.

Looking at the UK as a whole, because we can’t look at Warrington in just its little own bubble, the recent rapid rise in house values in some parts of the UK in the early part of the year (especially in London), along with earnings growth that remain below inflation and the possibility of an interest rate rise over the coming months, appear to have tempered housing demand. This weakening in demand has led to a modest easing in both property price growth and sales. A moderation in growth looks likely into next year as supply and demand become increasingly better balanced.

Now with the General Election on the horizon, whichever Government takes power, they, along with the Bank of England, have a thorny job to do in balancing the expected rise in interest rates with the continued resurgence of the housing market, to ensure the property market doesn’t drop and drag down the economic recovery forcing people into selling their property at a loss.

However, back to Warrington; Long term property values which track peaks and troughs are more helpful to landlord investors. The questions I seem to be asked on an almost daily basis by landlords are:-

“Should I sell my property in Warrington, or even buy another?”

“Is the time right to buy another buy to let property in Warrington and if not Warrington, where?” 

“Are there any property bargains out there in Warrington?” 

Many other Warrington landlords, both who are with us and many who are with other Warrington letting agents, like to pop in to our office for a coffee and to discuss the Warrington property market and how Warrington compares with its closest rival towns (Wigan, Bolton, St Helens etc.)

I don’t bite, I don’t do hard sell, I will just give you my honest and straight talking opinion. Please email me at tpatel@hamlethomesproperty.co.uk or call me on 01925 235338!

In the meantime may I take this opportunity to wish you all a Happy New Year.

If you enjoy reading my blogs, please take a look at our other on-line resources,
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Website,http://www.hamlethomeswarrington.co.uk/

Check out this New Year Gem

We're all back to normal now, business is as normal so thought I would share this midweek gem in Warrington town

It's on the market with bridgfords and looks to me as though it is priced to sell at £80,000, which in my opinion due to the area this is over priced and especially at the time of year we are in i think it could go for £70,000

Properties similar to this, in this location would rent realistically in the region of £500 pcm and will attract professional tenants.

So, doing our sums based on a £70k purchase price and a rent of £500, you would be looking at a potential gross yield of around 8.5% per year. Better than any savings account!

http://www.rightmove.co.uk/property-for-sale/property-47821081.html

If you would like any advice on where (or where not) to buy, feel free to give me a call or drop me an e-mail tpatel@hamlethomesproperty.co.uk

If you enjoy reading my blogs, please take a look at our other on-line resources,
Facebook, https://www.facebook.com/hamlethomeswarrington
Twitter, https://twitter.com/HHWarrington
Website, http://www.hamlethomeswarrington.co.uk/

Over 8% return in Newton-Le-Willows...read on!

This property caught my eye as it is finished to a good standard and when a property like this comes along on the rental market it tends to get filled very quickly by a family who intend to stay for a long time so voids are very low, also the last one of these we rented, went for £595pcm.

The house is very close to Earlstown train station which has links running to manchester and liverpool, its also walking distance to the town and markets.
This house is on the market for £80,000, which seems fairly reasonable given the location. Once this has been calculated against the rental amount, it brings you up to a 8.9% annual return.

I have calculated the yield purely on the purchase cost and rental income, as going off the images published there does not seem to be any works that need to be done. It is a ready made investment, If you think smart you can also line potential tenants up whilst the sale is going through to reduce voids or avoid them completely

http://www.rightmove.co.uk/property-for-sale/property-45811093.html
If you are a landlord, whether you deal with us or not, feel free to visit into our office on Crosfield Street to ask our opinion on which property investment is best for you, you can always call me, Tesh Patel on 01925 235 338 or email me on tpatel@hamlethomesproperty.co.uk.

If you enjoy reading my blogs, please take a look at our other on-line resources,
Facebook, https://www.facebook.com/hamlethomeswarrington
Twitter, https://twitter.com/HHWarrington
Website, http://www.hamlethomeswarrington.co.uk/