This
particular landlord, Kevin, actually came to me two years ago when he found my newsletter
in his accountants’ office. He wanted me to come to the networking event to
share my thoughts on the Warrington Property Market, meet other local landlords
and give people a friendly face to contact if they are interested in investing
in Warrington.
Well, to my
surprise, about a month later, a gentleman called Tom that I had spoken to at
the networking event decided to pop into my office and take me up on my offer
of tea and biscuits!
Warrington
Property Deals
It wasn’t long
until we got talking about Warrington’s property market. Tom was sure that
there are no longer any bargain properties to be had in Warrington… I look for
deals every day, so I decided to show Tom when and where to look!
I found a good
sized, three bedroom semi-detached property on Wheatcroft Close that was bought
for £124,000 in August 2015. The same property sold for £160,000 in July this year, which is a rise of 29%. However, prices in the town during this same time period rose
by 4.23%, so it should have sold for £129,245 if it kept up with
the town’s average house price.
‘It’s a case of knowing when to buy.’
A three bed
terrace on Station Road, in Padgate, sold for £104,000 in the summer of 2014, and was sold again this summer
for £160,000. This is a rather impressive rise of 53.8%. But as we
mentioned on the Warrington Property Blog a few weeks ago, average prices in this time have risen by a much more remarkable
9.48% in Warrington.
All this is
well and good – and I was proving a point to Tom to show him bargains can be
found.
However, property investment is usually a long term plan so buy well and
buy smart, as you make your money on the purchase price.
With rents for the average 3 bedroom detached houses
in Warrington achieving between £750 and £850 per month, yields are around
5.8%. I think in
terms of a rental investment, there are better properties, such as smaller two
or three bedroom terrace achieving yields of 8% plus.
If you spot a property and would like a second opinion then feel free to get in touch with me. My only interest is to make sure you get the best outcome from your investment. I operate a letting agency, so you can rest assured I have no motive to try and sell you a house and I will not be biased towards any one vendor.
My interest is
to find you the right property to match your investment strategy.
Email me
on manoj@hamletwarrington.co.uk or call on 01925
235338. If you are in the area, feel free to pop into the office – we are
based on 6 Bankside, Crosfield St,
WA1 1UP. There is plenty of free parking and the kettle is always on.
Don't forget
to visit the links below to view back dated deals and Warrington Property News.
Twitter, https://twitter.com/HHWarrington
No comments:
Post a Comment