How The Rented Sector Has Transformed The Property Market In Salisbury

The Salisbury housing market has gone through a sea change in the past decades with the Buy-to-Let (B-T-L) sector evolving as a key trend, for both Salisbury tenants and Salisbury landlords.

A few weeks ago, the Government released a White Paper on housing. I have had a chance now to digest the report and wish to offer my thoughts on the topic. It was interesting that the private rental sector played a major part in the future plans for housing. This is especially important for our growing Salisbury population. Continue reading

Jubilee Close BTL- £159,950

For sale with Goadsby is this Two Bedroom first floor Apartment within Carnival House, Jubilee Close. Whilst it may be situated a little way out of town, these flats offer extremely well proportioned accomodation for the money as well as offering off-road parking and a regular bus service into the City Centre. We sold a ground floor flat within the same development just last year for a figure of £154,000 which we then let for £725pcm which means that for this flat’s asking price, you’d be looking at a potential return of 5.4%. What’s more, this property is offered with a tenant in situ, saving the hassle of finding a tenant once the purchase has completed and maximising rental income. http://www.rightmove.co.uk/property-for-sale/property-47616627.html

 

Edgam Place BTL Development opportunity – £185,000

On the market with McKillop and Gregory is this three Bedroom Terraced House requiring modernisation throughout.

The property is in a desirable location on the outskirts of Salisbury City Centre and boasts spacious accomodation throughout along with both front and rear gardens and off-road parking. At the current asking price, with a potential rental value of around £850pcm, you could be looking to achieve a yield of around 5.5%!

If you are an investor looking to maximise your income buy acquiring a project then this could well be the property for you! Alternatively, this would make a cracking first home, family home for those looking for a property in a desirable location on a low budget, or for developers looking to sell on for a profit. Whilst it has yet to be registered with the Land Registry, Carter & May were advertising a property within the same location which had been fully renovated for a figure of £235,000 at the end of last year so there is definitely an opportunity to make some money on this gem.

http://www.rightmove.co.uk/property-for-sale/property-65503853.html

 

Burgess Green BTL Bargain – £215,000

Currently advertised with Fox and Sons is this well presented three bedroom property within the ‘ever popular’ Bishopdown development. The accomodation is well presented throughout, however may require a little updating meaning that the purchaser will have the opportunity to put their own stamp on the property. At the current asking price with a potential rental value of £900pcm, you could be looking at a yield of 5%! Alternatively, this property would make a reasonably priced family home in a popular location with good local schools and transport links.

Give Fox and Sons a call to arrange your viewing.

http://www.rightmove.co.uk/property-for-sale/property-47567604.html

 

Quidhampton Development Opportunity £165,000

Calling all developers and cash buyers!

I thought i’d start the week with something a little different. Whilst this three bedroom property is of Reema construction and therefore only available to cash buyers, requiring modernisation throughout, it boasts a lot of potential with well proportioned rooms and a fantastic location, making a perfect development/investment opportunity. Having done some research on the sale history in the area, I discovered that this property within the same location sold in 2015 for a figure of 195,000, meaning that at the properties current asking price, there’s definitely some scope for profit depending on the quality of the refurbishment http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=51073469&sale=76508316&country=england

Alternatively, at the current asking price with a potential rental value of around £800pcm, you could be looking at a potential yield of around 5.8%! Either way, this property certainly has bags of potential. http://www.rightmove.co.uk/property-for-sale/property-47503866.html

 

Park Lane Perfect Yield, £159,950

Perfect BTL Opportunity to end the week! This two bedroom flat, currently advertised with Venditum, is in a cracking location, siuated just off of Park Lane, with views across Victoria Park. The property is immaculately presented with modern fixtures and fittings as well as laminate flooring throughout the living accomodation, proving incredibly attractive to potential tenants. We previously let this flat in November 2013 for a rental figure of £650pcm, however I believe in the current market you could achieve in the region of £695pcm, meaning at the current asking price, you could be looking to bring in a potential yield of around 5.2%! Book your viewings now as this one won’t hang arond for long! http://www.rightmove.co.uk/property-for-sale/property-65364284.html

 

Salisbury’s ‘Generation Trapped’ and the £4.12bn legacy

Last week, I wrote an article on the plight of the Salisbury 20 something’s often referred to by the press as ‘Generation Rent’. Attitudes to renting have certainly changed over the last twenty years and as my analysis suggested, this change is likely to be permanent. In the article, whilst a minority of this Generation Rent feel trapped, the majority don’t – making renting a choice not a predicament. The Royal Institution of Chartered Surveyors (RICS) predicted that the private rental sector is likely to grow substantially by 1.8m households across the UK in the next 8 years, with demand for rental property unlikely to slow and newly formed households continuing to choose the rental market as opposed to buying.

However, my real concern for Salisbury homeowners and Salisbury landlords alike, as I discussed a couple of months ago, is our mature members of the population of Salisbury. In that previous article, I stated that the current OAP’s (65+ yrs in age) in Salisbury were sitting on £1.93bn of residential property … however, I didn’t talk in depth about the ‘Baby Boomers’, the 50yr to 64yr old Salisbury people and what their properties are worth – and more importantly, how the current state of affairs could be holding back those younger Generation Renters. Continue reading

Three bed BTL Oaklands Avenue Amesbury – £215,000

Lovely weather to end the day and an even better BTL opportunity!

Simon Colligan of Amesbury have just begun the marketing of this fantastic, reasonably priced three bedroom property, situated within the Butterfield Down Estate. At £215,000, with a potential rental value of £900pcm, you could be set to bring in a potential yield of around 5%. The area is also subject to a reasonable level of capital growth, with similar properties on the Estate selling in 2013 for figures in the region of £175,000 like this one http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=39691910&sale=76545357&country=england

So with a cracking yield and a reasonable level of capital growth, this little gem has it all!

If you would like our opinion on the rental potential of your own property, or a property you have seen on the market, please give us a call, we would be more than happy to help! http://www.rightmove.co.uk/property-for-sale/property-65395865.html

 

3 Bed Semi on New Zealand Avenue £275,000 in need of some work!

Goadsby have just begun marketing of this 3 bed property ‘In Need of Refurbishment Throughout”. This could be music to the ears of many looking to ‘flip’ the property or find a bargain whilst stepping up the ladder. However, I thought I would look at prices in the area to see how much of a bargain this was……

Number 42 was sold in Sept’ 16 for £295,000 (extremely well presented), Number 36 sold for £275,000 in Jan’ this year (it would now benefit from some general updating and modernisation). So prices vary by £20k, you need to decide if you can renovate for this price or think a targetted offer is more your choice.

http://www.rightmove.co.uk/property-for-sale/property-47416386.html

2 Bedroom Flat £195,000 Harnham Great BTL

Its Spring! ……and what better way to start the week than with this fantastic 2 bed flat in Harnham. Marketed by Purple Bricks with a potential yield of nearly 4.9% at a suggested rental of £795pcm this property makes an ideal investment.This area has steady growth, the last property in this road sold for £180,000 in Dec’15.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=51850823&sale=76501470&country=england

http://www.rightmove.co.uk/property-for-sale/property-58656037.html