Monday, 30 June 2014

Royal Tunbridge Wells BTL deal of the day

This is a little gem of a property for sale with Ward and Partners and a very realistic price, its on the market for £115,000 and would achieve a rental yield on the whole value of 6.0% on a rental of £575pcm, that is above average yield for Tunbridge wells, if you was using a BTL with a 30% deposit then your yield after mortgage cost on your cash investment could be as high as 11.8%. This property would lend it's self to long term tenancy and the void periods would always be low since demand is good for 1 bedroom flats.  

Check out the details follow the link below if you have any questions please do call me at the office.

Tuesday, 24 June 2014

How can you find a good property deal in Royal Tunbridge Wells?

The subject of a lack of Royal Tunbridge Wells property bargains over the last couple of years has always been near the top of most local landlord’s thoughts. I have built up an extensive database of every property sale in Royal Tunbridge Wells since the late 1990 ’s, so am able to give an objective and unbiased opinion on what (and what does not) make a good property deal /investment. Knowing what is and what has happened to the property market in the different areas of Royal Tunbridge Wells (the differences of the property markets in Langton Green, Rusthall and Hawkenbury for example)  or comparing the town against say Tonbridge  or Maidstone, enables me to spot any trends /opportunities for buy to let landlords.

Here are some bargains that I spotted at the time and made a note of. It’s obvious other people thought the same as some have now resold recently. A lovely 3 bed terraced on Dudley Road in RTW came on the market in Spring 2011 at £395,000 and took until the late Summer of 2012, after a price reduction to £365,000, when it sold for £330,000.  Admittedly it needed a some TLC and a lick of paint (see the pictures),

..... but what a bargain, because the owner did some work to the property, put it back on the market last Autumn (2013) at £465,000 and it  sold it again just before Christmas for £445,000 .... a 35% increase in just over 12 months. (Average property values in Royal Tunbridge Wells in the same time frame only rose by 5.4% !). Look at the photos ..

Whether you are a landlord of ours or someone thinking of investing in rental market for the first time in Royal Tunbridge Wells please feel free to pop into our offices near the Railway Station for a chat about the property market in our town.

Friday, 20 June 2014

Beautiful 3 bedroom house Hawkenbury Royal Tunbridge wells

This cracking semi detached property won’t be on the market for long with Brackets, 3 double bedrooms, Nelson Road in Hawkenbury Royal Tunbridge wells ; this has increased in value from 2011 by an incredible 60% giving an increase of 20% per annum, the rental yield would only be around 4.5%,based on a rental of £1300pcm, but I think this will be snapped up by a lucky family for a family home rather than a landlord purchase.

Thursday, 19 June 2014

Sandhurst Road, Tunbridge Wells Buy to let deal

On the market with Lizard, this lovely much improved and extremely well presented terraced house, which benefits from off road parking, lovely landscaped gardens and from being situated in a popular residential area within walking distance of local amenities and the station at £249,950 wont be on the market that long.

Really nice inside (have a look at the pctures via the link), this wont be on the market long I think

Friday, 13 June 2014

RTW - Friday the 13th deal of the day

No nightmares with this one. This sweet little terraced has just had its price reduced to £195,000, making it a little sweetie, especially as this would rent, day in/day out at £895 or even a little more if you could add a little TLC. Its on the market with McAuley Miller, link below for more pictures. I have a feeling this wont be around long, now its on at a sub £200k asking price. 

Thursday, 12 June 2014

Lime Hill Road - 5% yield and decent capital growth

TW Property put this on the market yesterday at £164,950. They say, "A well-presented 1 bedroom entrance level flat situated in the popular town centre road, currently let at £675 pcm. The property benefits from a private entrance door, lounge with original bay window, separate kitchen with window to the rear, double bedroom and bathroom with shower over bath. This property with make an ideal 1st time purchase or Buy-to-Let investment."

I say, buy it for £160,000 and you will be getting a 5% yield. Ground rents on these are normally quite low. I like this, and whilst it wont win prizes for looks, it has a siting tenant. Capital growth has been around 15% to 17% on this street in the last 3 years, so when you compare against the RTW of 11% in thse 3 years ... these do up in value quite well 

Saturday, 7 June 2014

Ramslye Estate outperforms the Culverden housing market by 55%

Following a discussion with a local landlord who lives on Royal Chase backing onto the old hospital site, we got chatting about his two properties in Royal Tunbridge Wells and how property in the Ramslye Estate, where one of properties is, (just off Eridge Road) are so different to the housing market in the Culverden Park, where he owned the one he lives in. We got talking about the two properties in both areas and he wanted some advice on where to buy the next one. I did a comparison between the two and was surprised to find that the property market in the Ramslye Estate area had outperformed the Culverden development market by 45%!

The average price of property on the Ramslye Estate is £251,500. When you consider the average rents that are achieved in the Ramslye Estate are around £935 per month for a decent property, this gives us a yield of 4.5% per year. Yields in the Culverden area, where the average value of a property is £854,000 and the average rent is £2,050 per month, offer a 55% lower yield of 2.9% per year, so surely Ramslye is the best investment, isn’t it?

This, however, is a great example of annual yield/return not being the only factor when choosing an investment property, as you should also consider how much the value of the property goes up in the long term. In the last 13 years, property values have only risen on average by 102% in the Ramslye Estate, which is very impressive. However, average property values on the Culverden development have risen on average by 158% in the same time frame. Now whilst yield is very important, capital growth is just as, if not more, important in property investing.

 So, if you are investing in property in Royal Tunbridge Wells, do you want capital value or yield? I think all would agree that in an ideal world, as a property investor, we would like to invest in properties that offer both the best capital growth prospects and highest yields. However, this may of course be easier said than done as good capital growth prospects and high yields are not necessarily mutually exclusive but could prove difficult to achieve both
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Different landlords need different things (high yields or high capital growth or somewhere in the middle). As I look at each person as an individual, I recommended to him that his primary focus needed to be towards upon capital growth potential (rather than yield) when buying his next property, as I saw this as potentially the best way to meet his needs on the investment. In his case, the ideal property that offered a decent yield and decent capital growth was a nice semi in the Hawkenbury area of the town.

However, I reminded him to ensure that the yield has plenty of margin so any investment remains cash flow positive when such time arrives that interest rates rise to a more typical level. 
If you would like some more advice about buying to let, be you a landlord with a portfolio or someone thinking of investing in rental market. So, feel free to pop into our office near the Railway Station for a chat about the property market in our area.

Friday, 6 June 2014

Almost brand new 3 bed semi - F/hold yield of over 6%

Lovely 3 bed semi, just come on the market at £275,000 (well £275k to £295k Guide Price) with Freeman Forman. This will rent for £1500 per month in this condition, which gives a very nice 6.5% yield. If you wanted to safe at £1400 per month, it still gives a 6.1% yield .. this my blog reading friends wont be on the market long. Click on the Rightmove link for even more nice pictures

Wednesday, 4 June 2014

Dunstan Rd, RTW - nice 2 bed apartment - 5.12% yield

Bracketts, (on the High Street) have just put this very pleasant 2 bed apartment on the market at £210,000. They have let it out for £875 per month (its a 2 bed) , makes a decent yield of 5.12% per year. Wont be around for long. Click on the link for more pictures.

Tuesday, 3 June 2014

TN1 apartment - safe bet

Just seen this apartment come on the market yesterday with TW Property at the mid £150's, which for a converted house, isn't bad when you consider you have a share of the freehold and your own private entrance. Should rent for early to mid £600's, giving a yield of late 4%'s knocking on the door of 5%. Link to the property ...