What type of property in Gloucester sells the best?

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 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 46,444 households in Gloucester there are 1,831 properties on the market for sale. Of those 1,831 properties, 944 properties are fully available on the open market waiting for a buyer and 887 have buyers and are sold subject to contract. That means 48.4% of property on the market has a buyer in Gloucester (interestingly Cheltenham has 43.9% of properties on the market have a buyer – an almost identical figure to Gloucester’s and in Bristol of the 6,615 that are presently on the market, 55.6% or 3,683 are currently sold subject to contract). However, delve deeper, and in Gloucester today, 43.3% of detached houses on the market have a buyer and great news for terraced property owners, as 52.6% of them have buyers.  Semi-detached houses fair even better, with 251of the 439 on the market now having buyers (making 57.1%).  Bungalows do quite well with 51.2% or 62 of the 121 on the market in Gloucester having a buyer and sold subject to contract.  The properties that appear to be sticking though are apartments in Gloucester at a comparatively lower 31.4%.I am always giving advice to my existing and new landlords in Cheltenham and Gloucester (as I have offices in both towns) 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 on the investments I have advised on.  

2 Bed Terrace Hatherley - 4.7% Yield

This 2 Bed Terrace property has just come on to  the market with Adams. It looks well presented and is located in one of the most popular rental areas in Cheltenham . On the market for just short of £190K , I think it should let for £750.00 PCM. This will be popular with small families and should let easily , therefore minimal void periods. The yield would be around 4.7% which is not fantastic but this would be a relative "safe " investment. You need to think about capital growth as well and this should be relatively strong in such a popular area.

                             http://www.zoopla.co.uk/for-sale/details/34647780

Why not give Adams a call to take a look. If you would like advice re the rentals opportunities of this or any other property, please do not hesitate to contact me - neil.west@belvoir.co.uk

2 Bed Terrace , Gloucester 5.5 % Yield

2 bed terraced property on the market with Michael Tuck at just short of £120K. Great rental property in a very popular area of Quedgeley. This will rent for £550 , if not £575 ( in tip top condition) . Thats a 5.5% to 5.75 % yield. 

                             http://www.zoopla.co.uk/for-sale/details/34625309

This is what Michael Tuck have to say:Michael Tuck estate agents are pleased to offer for sale a terraced house located in a Cul-d-Sac location on Millers Dyke. Comprises entrance hall, kitchen, lounge diner, two bedrooms and bathroom. Further benefits include UPVC double glazing, gas radiator central heating and gardens. Although in need of general updating the property is sure to appeal to investors and first time buyers alike, so an early appointment to view comes highly recommended

I say, that if you are looking for a relative safe bet, then this should be looked at. If you would like any advice regarding this or any other property, then please contact me.

Matson property market outperforms Churchdown by 400%

 I was talking to a couple last week, who are considering becoming landlords for the first time after they had come into some money, knowing the return they would get investing in the Bank. They were looking for advice as to what kind of property they should buy but wanted some advice on what property to buy and in what location.

Their budget was in the £300,000 to £350,000 region, so I initially looked at semi detached houses in Churchdown. The average value of a three bed semi detached property in Churchdown area is £231,500. The three beds rent on average for £850 per month giving an annual yield of 4.4%.  This gave us some change and I then suggested they get a second property with the aid of a mortgage.  However, the couple were not interested in taking a mortgage (although it does give certain tax advantages to the landlords when you buy with a mortgage).  Therefore, I considered the Matson area on the South West side of Gloucester.   One bedroom maisonette apartments are worth on average £53,000 here and rent for around £425 per month, giving a much better yield of 17.6%, which is proportionally 400% more than Churchdown.

However, to judge a rental investment, you must consider the capital growth as well as the yield. Since late 2001/ early 2002, the average Matson property has only risen by 53.1% (interesting the cost of living/inflation has risen by 47.3% since late 2001/early 2002, so in REAL terms, property in Matson has hardly risen at all).  This is quite relevant when you consider overall Gloucester average property values have risen by 74.2% over the same time frame.  However, even better, semi-detached houses in Churchdown have risen impressively by 118.2% during this time. Ultimately, we found both areas to be a good investment depending on your own situation, but as you can see, Matson does offer better yields, but at the expense of the capital growth that Churchdown offers. 

If you are a landlord, new or old, we’re certainly more than happy for you to pop in and see us at our offices on Worcester Street for a chat or email me direct on neil.west@belvoirlettings.com

3 Bed Flat - £85K !!! Cheltenham 8.4 % Yield !!!

I looked at this and thought 3 bed Flat  £85K - Must be a mistake! This should rent for around £600.00 PCM as the sales agent say. That's a great return of 8.4%. On reading the advert again, I noticed that this was a GUIDE price and that the agents were carrying out open viewings. This suggests to me that this property will probably go for more than £85K. Saying that, its well worth a look as at £100k will still be a 7.2 Yield.

                             http://www.zoopla.co.uk/for-sale/details/31469490

The sales agent does not have a lot to say really , probably because they think that this will walk out of the door and they are probably right. Please contact me , if you would like any advice on the rental market in Cheltenham or Gloucester. 

Also just to let you know Belvoir are entering the sales market. However this does not mean that I will not be offering free unbiased advise on other agents properties exactly the same as I am now. 

One Bed - Gloucester 6.0% Yield

Great investment opportunity in Quedegley. Gloucester. On the market for £105K and should let for £525.00 PCM. One bed houses are always in great demand as rentals as don't come along very often. Loads of one bed flats but not houses. This makes this a great investment opportunity.   

                              http://www.zoopla.co.uk/for-sale/details/34549407

The Property Centre have this to say : Double bedroom terrace house offered 'For Sale' with no onward chain. Accommodation comprises to the ground floor lounge and kitchen, whilst upstairs are two bedrooms and family bathroom. Externally is an enclosed garden plus parking for two cars. Ideal first time / investment purchase. Rental income in the region of £500-525pcm. Rental yield of approximately 6% based on £525pcm.( Think they mean one bedroom not two) 

I do agree with their rental projection and think that this is worth looking into further. If you would like any advice on this or any other property, then please do contact me on neil.west@belvoirletting.com or 01452 387334.

One Bed Flat - Cheltenham - 5.7 % Yield

I have just seen this well presented flat on the market with The Property Centre, on the market for £120K and should rent for around £575 PCM. Looks great, allocated parking and a popular area. This should give you a yield of around 5.7%. As with all leasehold properties, you need to check out the term of the lease and the management charges. 

                              http://www.zoopla.co.uk/for-sale/details/34489629

This is what The Property Centre have to say: Potential Rental Income Of £575 pcm. A ground floor apartment located in the popular area of Battledown Estate. An ideal investment or first time purchase benefiting from allocated car parking. The accommodation comprises open plan living room, fitted kitchen, bedroom and bathroom.

I think that this is worth checking out and if you need any advise regarding this or any other property, then please contact me at  neil.west@belvoirlettings.com

3 Bed Semi Detached - Quedgeley 5.2 % Yield

This 3 bed semi on the market with The Property Centre would make a great investment. On the market for £155,000 and should let for £675 PCM, that's a yield of 5.2%

                             http://www.zoopla.co.uk/for-sale/details/34490371

The Property Centre say :The Property Centre are pleased to offer 'For Sale' this three bedroom semi-detached House in Downy Close. Accommodation comprises to the ground floor a 16'8 lounge and kitchen / breakfast room, whilst upstairs are the three bedrooms plus a family bathroom. Externally is an enclosed garden to rear and off road parking to the front.

I think that this is an ideal investment as the property will appeal to families and will always be in demand.

I have been away for a while but now I am back. If you would like any advice on this or any other property, then please contact me at neil.west@belvoirlettings.com

Cheltenham vs Gloucester.. the tale of two very different property markets

I was talking to one of my landlords from Stroud the other week, when we were looking over a few properties that he was considering to buy in Cheltenham or Gloucester. As we have offices in both places, I was able to discuss the two areas in depth. We started to notice an interesting pattern in the house prices between the two. Cheltenham has always been a more expensive town to buy in comparison to Gloucester, but depending on what type of property you buy, there are some fascinating differences.

A few weeks ago, we said that the average value of a property in Gloucester was £204,000, compared to Cheltenham ‘s of £297,900 (making Cheltenham 46% higher). However, when you look deeper, things become quite interesting between the two places. Detached houses in Cheltenham are 42% higher than Gloucester’s (£471,800 to £310,600) ,flats are even higher being 55% more expensive in Cheltenham than they are in Gloucester (£184,100 to £118,400), terraced houses are even more expensive in Cheltenham having and average value of £235,700 compared to Gloucester’s £143,700, making Cheltenham’s terraced houses on average 63% more expensive.  Finally, semi-detached houses are 44% more expensive in Cheltenham compared to Gloucester (£271,100 to £187,100).

So if you look at the individual property types (i.e. detached, semi-detached, terraced and flats) the one thing which struck me was that whilst overall the average property in Cheltenham is 46% more expensive that Gloucester in some types, including terraced and flats, they are considerably more at 50 to 60%  more expensive.  Well after investigating, it transpires that in Gloucester there are 20.2% proportionally more detached houses than Cheltenham and 21.3% more semi-detached houses. However, on the other side of the coin, Cheltenham has proportionally 59% more flats and apartments compared to Gloucester.

As Gloucester has a lot more expensive detached and semi-detached houses and a shortage of apartments, this means the overall average property price is driven up in Gloucester over Cheltenham. These differing housing provisions in the two places just goes to show that you need to know your marketplace and decide which is the right place for your money. If you are an existing landlord or one who is thinking of become one in Cheltenham and Gloucester, don’t hesitate to pop by our offices on either Cheltenham  or Gloucester or send me an email to neil.west@belvoirlettings.com  

Cheltenham and Gloucester census figures released

It seems a distant memory three years ago when we were filling in our Census Returns, but now the figures are beginning to be released, especially the statistics about property. The figures for each individual town and city have been released, so let’s look at both Cheltenham and Gloucester’s figures. In the town of Cheltenham there are 46,137 households, just over six out of ten properties are owned,  62.9% to be precise (29,063 households) whilst in Gloucester of the 46,444 households 65.4% or 30,416 households are owned.  Renting interests me and in Gloucester there are 7,686 rental properties (16.5% of households being rented) whilst in Cheltenham there are surprisingly more rental properties with 21.1% or 9,763 households being privately rented.

So, with  between 16 and 21 % of households being rented in both Cheltenham and Gloucester, which is very much above  the national average of 15.6%, where does that put both Cheltenham and Gloucester? For renting, Cheltenham is just out of the top 25% of local Authorities when it comes to renting 92nd out of 347 authorities whilst Gloucester is the top 15% of local authorities when it comes to renting (52nd out of 347 authorities).

So does that mean renting isn’t booming in Cheltenham and Gloucester? .. quite the opposite! Demand continues to be good from quality tenants who are prepared a pay a decent rent, but only for a decent property. On average over the last 12 months, landlords in Cheltenham have achieved a total return on their buy to let investment, when you combine yield and capital growth, of 11.2% whilst in Gloucester it has been 12.3% . 

Also, if there were a glut of rental properties, there would be an over supply of property to rent, driving prices down. In the lettings industry, it is recognised there will always be 5% of the rental market up for rent at any one time, which means there should be 488 properties to let today in Cheltenham (5% of 9,763 as mentioned above) .. I am pleased to tell you there are only 406 as I write this article!  In Gloucester the picture is more or less the same where there were 384 properties to rent (if you assumed 5% were on the market) today there 371 properties available.

Don’t get me wrong, tenants are more discerning in the properties they rent. Woodchip wallpaper and no central heating won’t cut the mustard anymore. However, present your Cheltenham and Gloucester property to a good standard and price it right and you should do very well. If you are considering becoming a landlord or are an established landlord who is thinking of buying another property to rent out in Cheltenham and Gloucester, please do your homework. Feel free to ask my opinion on what makes a 'decent property'. I don't sell property, so it's in my interest for you to buy the right property for you, not me. I don't charge for that opinion, because I hope you will recommend me to your friends, which in fact is the best compliment you can make.

3 Bed House - Rosebay Gardens Cheltenham 5.3% Yield

                            http://www.zoopla.co.uk/for-sale/details/34231056

I have just seen this property on the market with Peter Ball . Three bed family house, good area therefore ideal for families, who tend to stay longer. On the market for £170,000 and should rent for £750 PCM, giving a yield of 5.3 %

                            http://www.zoopla.co.uk/for-sale/details/34231056

Click on the links and check out what Peter Ball have to say. I think this is well worth a look as an investment opportunity.If you would like some advice on this or any other property please contact me.

Property Values along The A40

As we enter into the late summer the most recent set of property price indices have been released showing some substantial property value increases in both Cheltenham and Gloucester.  Over the last three months an average property in Cheltenham has risen from £288,900 to £297,900 a rise of £9,000 or just over 3.1%.  The average property in Gloucester has also risen from £192,200 to £204,000 a rise of £11,800 or 6.1%.  This is great news for anyone who owns their own home in either Cheltenham or Gloucester. 

However, the A40 has other towns along its length and as a landlord one must consider other towns and cities to invest in. The first major town to the East along the A40 is Witney. An average property in Witney has seen an increase in property values by £10,000 over the last 3 months, taking an average property up in value by 3.4% up to £334,000. In a Westerly direction, we get to Ross-on-Wye, where average property values have risen by £8,200 to £277,600.

I find it interesting that four places along the A40 – Ross-on-Wye, Cheltenham, Gloucester and Witney all within a stone’s throw  of each other, can experience such variations in property prices. With average rents steadily rising by 1 to 2% a year and with continuing troubles for first time buyers raising the £10,000+ for the deposit and fees, I can only see greater demand for rental properties in Cheltenham and Gloucester, which will mean more people will continue to buy property for Buy to Let, and where there is greater demand, the price tends to go up. This however, is only my opinion.  If you want to chat about any matter relating to property in Cheltenham or Gloucester please pop in and see myself or one of my team in offices in either Cheltenham or Gloucester for a chat or email direct for any opinion on neil.west@belvoirlettings.com

3 bed Town House Gloucester - 5.27% Yield

Just spotted this 3 bed town house, on the market with Andrews at £165k. This won't be around long and would make a great investment property as should let for around £725 PCM, giving a yield of 5.2%.

                          http://www.zoopla.co.uk/for-sale/details/34211398

Check out the link above for more details from Andrews. Please feel free to contact me for free advice on this or any other property.

One Bed Flat Cheltenham - 5.2 % Yield

This One bedroom Flat is on the market with Martin & Co for £120K. This should let for £525 PCM, giving a 5.2 yield. Good location to attract young professionals, working at GCHQ. These flats always let well and to great tenants.

                             http://www.zoopla.co.uk/for-sale/details/34168281

This what Martin & Co have to say:  Offered for sale with no onward chain Martin & Co are delighted to offer this modern first floor one double bedroom apartment situated on the popular estate within close proximity to GCHQ.
The property comprises; Entrance hall; open plan living/dining room and kitchen; double bedroom and bathroom with shower over the bath and benefits from gas central heating, double glazing throughout and an allocated parking space.
Situated ideally for access to Cheltenham, Gloucester and access to the M5 as well as being on good public transport routes.

I think that you should check out the details on the above link and contact me for advice on this or any other property.

Cheltenham and Gloucester Property market sees a 10% to 14% annual return

I was talking to an accountant from Cheltenham the other day following my recent articles about the Cheltenham and Gloucester property markets in my blog and newsletter. With all the news about house prices rising, he wanted to know what had happened to average property prices since the New Year. Well there is no such thing as an ‘average property’, but according to my calculations, the ‘average value of a property’ in Gloucester is now £202,800 which is a substantial rise from what I quoted 3 months ago of £192,200. In Cheltenham, price rises over the last few months have been a little more subdued and average values currently stand at £288,900.

Now by my calculations, the average rent being asked in Gloucester is £790 per month and £923 per month in Cheltenham, which means the yields/annual return are an impressive 4.6% per year in Gloucester whilst in Cheltenham, they are 3.8% per year. Looking at the recent Q2 2014 house price figures, in the last 12 months (July 13 to June 14), the average value of a property in Gloucester has risen by 10% and  6.85% n Cheltenham. This means Gloucester landlords have achieved a total return of 14.6% whilst Cheltenham landlords achieved a total return of 10.65%.

When comparing this to what you get in return from banks, buy to let could be good investment for you. Don't get me wrong, there are pitfalls. My message to all the people of Cheltenham and Gloucester, be you an existing landlord or you are thinking of dipping your toe in the water for the first time is quite simple - take some independent advice before buying anything, unless you're 100% sure of what you're doing. I say this because I know what happens when people don't.

Even if it's not from ourselves, there are still a few regulated 'lettings only' agents in Cheltenham and Gloucester who are well placed to advise on whether the property you're considering will rent, and at what potential price. I am certainly more than happy for you to pop in and see me at my offices in both Cheltenham and Gloucester for a chat.

Deerhurst Place - Quedgeley - 5.7 %

This 3 Bed terraced property came on the market yesterday with The Property Centre.  A 3 bed in Quedgeley will always let well and I would expect this property to let for £675 PCM. Purchase price of £140K give an impressive return of 5.7% 

                           http://www.zoopla.co.uk/for-sale/details/34139040

Go to the link above to check out what The Property Centre have to say and some more pictures. We could let this tomorrow if we had it and to good, professional families. Remember families, tend to stay longer and with a great return , this is worth viewing. 

Contact me for advice about this or any other property neil.west@belvoirlettings.com

Lloyd Close - Cheltenham 5.3 % Yield

On the market with Adams , 2 bed flat with parking. This has 2 double bedrooms which makes it great for couples and sharers alike. Very close to GCHQ so a good tenant demand here. It is on the market for £122500 and this will rent for £550 PCM , giving a yield of 5.3% . Don't forget those service charges though.

                              http://www.zoopla.co.uk/for-sale/details/34059963

Adams say:A modern, first floor two bedroom apartment. Available with no onward chain and in good order throughout, this spacious apartment offers a central hall, large living room, two double bedrooms, full bathroom and modern fitted kitchen. An excellent investment or first time buy opportunity.

I think this deserves further investigation. We let a lot of properties in this area and always popular. Do take those service charges in to account though, when doing your calculations. 

One bed House Quedgeley - Great Investment 5.4% Yield

This one bed terrace house in Quedgeley has just come on to the market with the Property Centre at £110k. This will let for £495 maybe even £525 on a good day ! Base your figures on £495.00 and thats a 5.4% yield. Perfect rental property and good to go. 

                                         

                             http://www.zoopla.co.uk/for-sale/details/34060378

The Property Centre say : Situated in the popular cul-de-sac of Tirley Close is this one bedroom terraced property which has been updated by the current owner. The property benefits from a refitted kitchen, white bathroom suite with shower, double glazing and good size enclosed rear garden plus off road parking.

I say that this would make the perfect investment for the first timer and should be looked into further. If you would like advise about this or any other property, please contact me.

Property market in St. Marks Cheltenham outperforms Leckhampton by 75%

I was recently chatting with a chap from Cheltenham, who lives in Leckhampton, he took me up on the offer of an informal chat about the Cheltenham property market and we were talking about buy to let in the town when the subject of yields and capital growth came up.I was able to tell the gentleman that the average property value of a Leckhampton property is £349,900 and the average rent is £1,024, giving a reasonable annual yield of 3.51%. However, it became interesting to compare the St. Mark’s housing estate where the average value of a three bed semi is £163,400 whilst the average rents for such semis are £839 per month, giving a very healthy yield of 6.16% a year, which is three quarters proportionally more than Leckhampton (or 75.4% to be precise).

However, like I said a few weeks ago, yields are not everything in property investment. Another is how the value of the property goes up over time. Better properties in better locations don’t have the best yields, but their property values tend to go up more quickly over the long term. Therefore, since 1999, the value of properties in the St. Marks area have risen by 149% on average, whilst average property values in Leckhampton have risen by an impressive 192% in the same time frame.

It just goes to show that you need to consider both capital growth and yield when in investing in property. If you look there are properties in Cheltenham that offer both decent capital growth and yields at the same time. As I don’t sell property, I can look at the whole of the Cheltenham market and give you my advice and opinion to help you find the best investment property. It is in our interest that you buy a property which will rent well, and for long periods of time. If you would like any advice on choosing properties, please come and see me at our office in Bath Road in Cheltenham or Worcester Street in Gloucester 

Kerstin Close Cheltenham 4.9% Yield

I like the look of this 3 Bedroom link detached house in the Wymans Brook area of Cheltenham. We have recently let a couple of properties in the area and this should let for £795 PCM. The property is on the market with Peter Ball & Co for £195,000. Therefore you should see a yield of 4.9%.  That's a reasonable yield and don't forget that this sort of property will appeal to families who tend to stay longer which means fewer voids. 

                             http://www.zoopla.co.uk/for-sale/details/34023379

This is what Peter Ball have to say: Draft particulars (awaiting vendor approval). A three bedroom link detached family home situated at the end of a popular cul-de-sac and within close proximity to local amenities. The accommodation comprises an entrance hall with a door to the living room and stairs leading to the first floor. The living room measures at max 15'7 x 11'5 (max) and opens to the dining room which benefits from sliding patio doors to the rear garden. The modern kitchen consists of a range of wall and base level units, work surface over, ceramic sink/drainer inset, tiled splashbacks, extractor fan, space for appliances and doors to an understairs cupboard and to the side access. On the first floor are two double bedrooms, with the master including built-in cupboards, a well proportioned single bedroom and a modern bathroom comprising panel bath with shower over, pedestal wash basin, W.C and tiled surrounds. To the rear of the property is a low maintenance block paved garden with gated access to off road parking and a car port with a door leading to a workshop. To the front is a lawned garden with planted borders. The property further benefits from gas central heating and double glazing.

I say that you should not discount this type of property as a buy to let investment. OK you may get better monthly yields elsewhere but look at the bigger picture. Steady yield, few voids, appeals to good quality tenants, potential long term capital gain. If you would like more advise regarding buy to let investments in Cheltenham or Gloucester please contact me. 

Vestry Gardens - Gloucester 6.6% Yield

This very well presented 2 bed flat has just come on the market with Sure Residential. This would make an excellent buy to let as this is a popular rental area. On the market at £103500 , the selling agents are quoting a rental of £595/£625.... Maybe... at a push but I think a figure of £575.00 is more likely. Even so this will give a yield of 6.6% - Don't forget those monthly service charges though.

             http://www.zoopla.co.uk/for-sale/details/34020233                  

Sure Residential Say - Calling all investment buyers & first time buyers! This beautifully presented two double bedroom purpose built apartment located in a sought after modern but private development with electric gated access offers exceptional value for money. Situated on the top floor with excellent views over looking Gloucester and the surrounding hills, the property consists of an open plan kitchen/lounge - The modern kitchen is well kept and provides many built in appliances, the light and airy lounge is of a good size plus provides a Juliet Balcony. The property also provides two doubles bedrooms, good sized bathroom with electric shower over, plus excellent storage facilities. Other benefits include private allocated parking, double glazed windows throughout plus the property owns the attic space which provides A huge amount of extra storage. Investment - Possible rent £595 - £625 / expected yield 7.5% (only to be used as a guide)

I say that this is worth a look but check out the service charges and build them into you figures. If you would like advise regarding this or any other properties, please contact me on neil.west@belvoirlettings.com

2 Bed Terrace - Cheltenham 5.5 % Yield

I like the look of this 2 bed terraced property in Cavendish Park, Cheltenham. It is on the market with Peter Ball & Co at £135k. We  recently let a similar property in Cavendish Park and this one  should a achieve a monthly rental of £625 or even £650 at a push. Base your figures on £625 and that's a 5.5% Yield 

http://www.zoopla.co.uk/for-sale/details/33979331

Peter Ball say - Draft particulars (awaiting vendor approval). Situated in a cul-de-sac is this modern two bedroom mid terrace home, benefiting from two off road parking spaces. The accommodation comprises an entrance hall with archway to the kitchen and door to the living room. The kitchen includes a range of wall and base level units, stainless steel sink/drainer unit and space for domestic appliances. The living room measures 16'9 x 11'10 and has sliding patio doors to the rear and stairs leading to the first floor. Bedroom one is a double with a built-in double wardrobe, whilst bedroom two is a well proportioned single. The shower room comprises a shower cubicle, pedestal wash basin, W.C and tiled surrounds. To the rear is a low maintenance panel fence enclosed garden. To the front is one off road parking space and just along from the house is a communal car park with one allocated parking space. The property further benefits from gas central heating and double glazing.

I say that this is a good, popular area and 2 bed houses here are in demand. Take a look at Peter Ball's website and arrange a viewing. If you would like any advise regarding this property or any others, then please contact me on neil.west@belvoirlettings.com

Housing market: Churchdown vs Shurdington

                               St Bartholomew's,  Chosen Hill ,Churchdown 

I was recently talking to someone who lives in Badgeworth, that lovely village between Cheltenham and Gloucester. He wanted to purchase his first Buy to Let property and had noticed my previous articles, so was interested in getting to know the industry a little bit more. As he has lived in the village for over 18 years and he felt comfortable investing around there as he knew it well, we started to discuss the property market in his area.

He asked what my thoughts were on the village of Shurdington, as it appeared to him that made an excellent place to start. Yes, of the 857 properties in the village, the average rent achieved for the rental properties over the last 6 months has been £1,786 per month and with average values at £297,800, that makes ‘on paper’ a very healthy 7.2% pa yield. However, the issue is that there are only 36 rental properties in the whole of the village and in the last 6 months, the only ones that have come up for rent have been those at the upper end of the price scale, meaning it affected the figures considerably. I have a large database going back as far as 2000 for both the Cheltenham and Gloucester of just about every property that has rented and its rental price achieved. This database enabled me to tell him that the long term yield in the village was much nearer the 3% to 4% mark, depending on the year in question. Also, due to what type of properties have been built in Shurdington (mostly cottages and middle/up market houses), he might have to wait a long time for a suitable property that would have good tenant demand (lower to middle terraces and semis) to come along.

However, with my local knowledge I was able to tell him that literary a stone’s throw away, on the other side of M5 was the village of Churchdown. There is a much more vibrant rental market, with over 491 properties under rent (representing 9.9% of the households in the village compared to Shurdington’s 4.2%). Values in Churchdown have risen at a faster rate in the last 5 years, rising by 18.8% compared to Shurdington’s 15.2%. Also, there are plenty of 3 bed semis in the village which can be bought for around £230,000 to and they rent for around £850 per month, a healthy yield of 4.4% per year, especially since 1999, semis in Churchdown have on average risen by around 189% in value. Interestingly the larger properties in Shurdington have only risen (although the number of comparables is very low) somewhere in the order of 140% to 160% depending on location within the village.

So with a reasonable yield and excellent capital growth, I recommended he consider Churchdown for a quicker investment instead of waiting potentially years for the miniscule chance a semi in Shurdington may come onto the market. If you would like to pick my brains on the local property market, feel free to pop through the door of our offices in either Cheltenham or Gloucester or email on neil.west@belvoirletitngs.com

5 Flats for sale Gloucester -Impressive 7.3 % Return

This property in Gloucester has just come on the market with Farr & Farr. House converted into self contained flats. It is on the market for £295K and the agent advise that the current rental income is £21720 per annum. That's a very impressive 7.3% yield . This looks interesting but you need to do lots of  due diligence in this sort of situation. Things like tenancy agreements, tenants deposits, safety, rent arrears etc.

                                 

  

                                 http://www.zoopla.co.uk/for-sale/details/33981088

Check out the link above for more details and contact me if you would like some free advice. If you are interested, I will gladly visit the property with you so that I can give you my opinion.

For advice about this or any other property, please do contact me. If you have a property and it is already tenanted and you would like some advice, I am happy to help. 

Honeybourne Drive, Cheltenham - 2 Bed Terrace 5.3% Yield

I've just spotted this property on the market with Andrews at £140K - 2 Beds , double glazing, Gas central heating and parking. Looks great, should let for £625 PCM - No problem ! Nice easy investment opportunity. 

                            http://www.zoopla.co.uk/for-sale/details/33902361

This is what Andrews have to say : Situated in "Cavendish Park " on the western outskirts of Cheltenham, this well presented mid terraced home offers entrance hall, living/dining room, kitchen with range of fitted units and door to rear. Upstairs has a landing area with two bedrooms and a bathroom including a shower over the bath. Outside the property has garden and driveway at the front providing off road parking whilst to the rear there is a low maintenance courtyard style garden enclosed by fencing. Finally the property also benefits from double glazed windows and gas central heating to radiators.

I think that this is a great investment opportunity for the landlord who wants an easy life . Horse for courses - The returns wont be as good as a refurb project but not everyone want the hassle. 

If you would like advice on this or any other property please get in touch neil.west@belvoirlettings.com