Thursday 31 July 2014

Modern 3 Bedroom Mid-Terrace in Seaham (7.9% Gross Yield)

This 3 bedroom recently modernised Parkside property has a brand new kitchen and bathroom and offers spacious family accommodation

It's on the market for £74,950 and will return 7.9% Gross Yield based on £495pcm rent 

Click here for details http://www.zoopla.co.uk/for-sale/details/34006439?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert

There's a similar property on the same terrace for slightly more (£79,950)  but that will still return a decent 7.4% Gross Yield based on the same rent) - it's very coincidental that both have been listed on the same day so it may be they're owned by the same person who would do a good deal for both?

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Wednesday 30 July 2014

Immaculate 2 Bedroom Semi in Redhouse (6.6% Gross Yield)

At 6.6% Gross Yield this 2 bedroom Redhouse semi doesn't offer the highest Yield but where you lose on Yield you should gain in happy long-term tenancies

It's been improved considerably and will be the type of property where tenants will want to stay put, so in the long run it could outperform other investments with a higher Yield if there are fewer voids, remarketing costs etc

At £89,950 it's at the upper end of what you'd pay but as it would achieve £495pcm (the upper end of achievable rents for the area)

Click here for details http://www.zoopla.co.uk/for-sale/details/33985959?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 


Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Tuesday 29 July 2014

Two Bedroom Hill View Semi (7.4% Gross Yield)

This 2 bedroom, 2 reception room semi is on a cul-de-sac in the popular & sought after Hill View area

It needs work (both of the gardens look a state and it could do with some internal TLC) but £5k should cover it, and even adding this to the £74,950 asking price would return 7.4% Gross Yield given an achievable £495pcm rent

Click here for details http://www.zoopla.co.uk/for-sale/details/33991798?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Monday 28 July 2014

Spacious Two bedroom End Terrace Bungalow in Popular Part of Seaham (8.1% Gross Yield)

This two bedroom end terraced bungalow looks to be in a neat & tidy condition with a decent bathroom and kitchen

It's on the market for OIRO £69,950 which will return 8.1% Gross Yield based on a very achievable £450pcm rent

Click here for details http://www.zoopla.co.uk/for-sale/details/33973745?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Tuesday 22 July 2014

Two Bedroom Mid Terrace in Popular Roker Location (6.4% Gross Yield)

This 2 bedroom mid terrace is a short walk from Roker Beach and Marina and will be popular with working couples & young families, along with older tenants wishing to downsize

The popular, predominantly owner-occupied location means that investors should never struggle to find Good Tenants

At worst it looks to need a lick of paint throughout but even adding a generous £2,500 to the £92,500 asking price it will return 6.4% Gross Yield based on a £495pcm rent

Click here for details 
http://www.zoopla.co.uk/for-sale/details/33910131?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Monday 21 July 2014

Three Bedroom Terraced House in Ford Estate (7.9% Gross Yield)

This 3 bedroom ex-council mid terraced house will be of interest to a number of working tenants & whilst it does need a bit of cosmetic updating, still offers a return of nearly 8% Gross Yield

It's on the market for £70,000 and adding a generous £5k to this for improvements will deliver 7.9% Gross Yield based on a very achievable £495pcm

Click here for details http://www.zoopla.co.uk/for-sale/details/33910132?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Thursday 17 July 2014

Seaham Shock! Parkside Outperforms East Shore Village by 70%

Last week, a nice couple who owned a property in the East Shore Village development in Seaham came in to discuss potentially investing in a similar property as a Buy to Let

As I discussed with them, one of the most important considerations you will make before investing is the balance between annual return/yield and the annual value increase/capital growth

East Shore Village was built on the old Vane Tempest colliery site from 2005 onwards and is a mix of around 600 Yuill and Miller Homes and a smaller number of impressive detached self-build homes. It is one of the most sought after places to live in Seaham

The average sale price of a typical three bedroom semi-detached house on Alnmouth Way, East Shore Village is £138,916 and rents for this type of property are on average £595 per calendar month

With this in mind, it was a surprise to find that similar sized three bedroom semi-detached houses in the ex-council Parkside area have massively outperformed those on East Shore Village

This is because a three bedroom semi-detached house on a typical Parkside street such as Parkside Crescent can be bought for around £58,500 and the average rents on that street is currently £425 per calendar month 

The Gross Yield which could be achieved from property on Parkside Crescent is around 8.7% per year. When we compare this to the possible 5.1% on Alnmouth Way, it is 70% higher on Parkside Crescent

However, we must remember that yield is not the sole consideration when investing in Buy to Let properties and that capital growth is equally important

The average value of a three bedroom semi-detached house on Parkside Crescent in 2005 was £77,316 meaning homes there are worth nearly £19,000 less today than they were in 2005.  The average price of a brand new three bedroom semi on Alnmouth Way was £125,912 in 2005, meaning rather than suffering a heavy loss, their value has increased by 10% in the same period

If you would like more information on investing in the Seaham or Sunderland property market, please call me on 0191 567 8577 or drop me an email to neil.whitfield@belvoirlettings.com

'Needs Work' 3 Bedroom End Terrace in Seaham (+6.75% Gross Yield)

This 3 Bedroom End Terrace in the popular Parkside area of Seaham is priced reflecting the need for improvement

As there are no internal photos to help gauge how much work is required adding a generous £15,000 onto the £65,000 asking price will still return 6.75% Gross Yield based on an achievable £450pcm rent

Click here for details http://www.zoopla.co.uk/for-sale/details/33879732?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Wednesday 16 July 2014

One Bedroom Roker Ground Floor Flat (7.3% Gross Yield)

We've managed a property in this street for a number of years and know the SR6 location is likely to be popular with a range of tenants (both young single people/couples or older tenants downsizing or separating)

This 1 bedroom ground floor flat is new to the market at £64,950 and based on a conservative £400pcm rent will return 7.4% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/30846006?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information or to discuss

Tuesday 15 July 2014

3 Bedroom Terrace in Popular Redhouse (6.6% Gross Yield)

This 3 bedroom terrace offers spacious accommodation and in our experience will appeal to a wide range of working tenants (predominantly couples & families from the local area)

It looks in pretty good internal condition, requiring only a lick of paint in a couple of rooms, the patterned carpets replacing as required and a freshening up of the bathroom - this should be covered off with £5k on top of the £85,000 asking price

Based on a total investment of £90k and an achievable rent of £495pcm it will return 6.6% Gross Yield and better still, is likely to attract long term tenants

Click here for info http://www.zoopla.co.uk/for-sale/details/33832688?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert


Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Monday 14 July 2014

Cheap Student HMO (Potential for +13% Gross Yield)

We would always advise caution when entering the student market in Sunderland but that said, for an experienced student landlord this terraced property may be worth looking into

It's advertised as 6 bedroom but that's using the lounge as an additional bedroom so we'd base our calculations on 5 bedrooms - we've let the next door property for the last couple of years (to students) and working on the basis they are of a similar layout we know that you're far more likely to let it with a lounge

The lack of internal photos on the listing is a slight concern and leads me to suggest a generous budget for improvements should be allowed (as students are demanding ever-increasing standards of accommodation these days)

Even if you add £15k on top of the £84,950 asking price it will still return 13% Gross Yield (this is based on £55prpw and an 11 month tenancy)

Landlords tapping into the Sunderland student market need to be comfortable in offering the tenancy 'bills included' - an allowance for this would be added to the above £55prpw 

Click here for details http://www.zoopla.co.uk/for-sale/details/33840461?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more details or to chat

Friday 11 July 2014

Spacious Three Bedroom Semi in Popular Area (6.3% Gross Yield)

This 3 bedroom, 2 reception room semi in Town End Farm is larger than most, will appeal to a range of working tenants and is pretty much 'Ready to Let'

At £104,950 it's a little more expensive than a lot of our recommendations but doesn't need any additional spend to get it to a 'lettable' condition and will return 6.3% Gross Yield based on £550pcm rent. 

What's more, its the sort of property that is likely to attract long term tenants, so there should be a relatively low risk of voids

Click here for details http://www.zoopla.co.uk/for-sale/details/33813393?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert

For more information or to discuss please call 0191 567 8577 or email neil.whitfield@belvoirlettings.com 

Thursday 10 July 2014

'Ready to Let' Two Bedroom End Link in Popular South Hylton (6.6% Gross Yield)

This 2 bedroom end link property in South Hylton is likely to be popular with a range of tenants due to the location and the excellent condition of the property

It's 'Ready to Let' and based on the £89,995 asking price and and an achievable £495pcm rent it will return 6.6% Gross Yield

Click below for details - it's worth noting it's a new instruction with Andrew Craig but looking at the photo Your Move are also selling it (or at least have been) - this suggests there may be a deal to be done if the owner is getting twitchy about it not selling and bringing in additional estate agents! 

http://www.zoopla.co.uk/for-sale/details/33800085?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Wednesday 9 July 2014

Investors Guide to Sunderland - SR4

Investors looking to buy a rental property in Sunderland are often attracted to the SR4 postcode, which includes Millfield, Pallion, Barnes/High Barnes, St Gabriels, Grindon and South Hylton. They’re attracted by the diverse range of affordable housing and the proximity to the City Centre, University and the Sunderland Royal Hospital on Chester Road

The obvious choice would be to buy close to the hospital in Millfield, Pallion and Barnes, which are established rental areas and may in-fact deliver a decent return but in doing so investors may face stiff competition due to the large number of existing rental properties and be missing out on better investments elsewhere

The SR4 postcode contains approx. 22% of properties that are privately rented (a higher proportion than in the SR3, SR5 and SR6 postcodes but a smaller proportion than in SR1 or SR2) with the majority of properties within SR4 being terraced (55%) or semi-detached (34%) with only a relatively small number of detached houses (7%) or flats (4%)

The most expensive SR4 properties tend to be in the West Hill, Offerton and West Mount areas, the most expensive recent sale being a 3 bedroom detached property in Barnes View in January 2014 at £370,000. At the other extreme SR4 does contain large numbers of inexpensive properties, the cheapest recent sale being a 1 bedroom flat in Chester Mews at £29,000 in March 2014 & the cheapest 2 bedroom house being in Neville Street, Pallion at £35,000        

Prices in SR4 are typically lower than in Sunderland as a whole, there were 419 sales last year in SR4 with the average sale price being £103,466 compared to £125,555 for Sunderland. Prices are rising, albeit slowly – sale prices in SR4 are 3.8% higher than a year ago, 7.05% higher than 3 years ago and 12.18% higher than in 2009

There are currently 183 properties to rent in SR4, representing 25% of the total number of properties available to rent in Sunderland, with an average rent £475pcm

So where should you buy and what should you buy?     

Covering the obvious choices first (Millfield & Pallion) it is possible to pick up a bargain 2 or 3 bedroom terraced ‘cottage’ but competition for tenants is fierce due to the large numbers of comparable properties. In addition to this, the typical cottage can be prone to damp problems and the layout with the single bathroom at the rear of the ground floor is both not to everyone’s tastes and does risk problems with condensation

As an aside, for anyone interested in the history of the unique Sunderland ‘Miners Cottage’ – click below


Expect to pay upwards of £50,000 for a 2 bedroom cottage in Pallion or from £60,000 for Millfield. At that price they may still need work and additional spend on updating the kitchens and bathrooms (however in doing so you will build in some capital growth from the outset), with rents in the region of £400 - £450pcm for Pallion and £450 - £495 for Millfield

Staying close to the hospital an alternative strategy may be to look at larger 3 or 4 bedroom properties in the likes of Sydenham Terrace, Cleveland Road, Chatsworth Street & Jackson Street

Investors will need to pay more, but rents are also significantly higher – we manage a number of such properties, typically rented to professional families or occasionally groups of young sharers, with rents around £595pcm. Crucially because such properties are not so common (and there is generally a shortage of decent 3 and 4 bedroom houses to rent in Sunderland) tenant demand is consistently strong

A typical 4 bedroom terrace in Chatsworth Street will cost around £125,000 at current market values (the most recent sales in 2013 and 2014 being one sold for £122,000 and two at £125,000) however we do know of one investor who snapped up a bargain (in need of work) at auction for only £80,000 (click below for details)


Even building in a generous £15k for improvements & redecoration, that would still deliver a healthy 7.5% Gross Yield based on £595pcm

Some local landlords prefer to rent ‘nice’ houses in ‘nice areas’ (that they would be happy to live in) and for that type of investor High Barnes is an area for consideration – we recently did some research for such an investor who asked me whether there was a big difference between Barnes and High Barnes, given they’re right next to each other and both are likely to be popular with tenants, being close to Sunderland Royal Hospital

Last year the average price of a 2 bed terrace in Barnes was £92,799 whilst the average sale price for a similar property in High Barnes was £104,468. Generally rents are a little higher in High Barnes, averaging £550pcm for a 2 bed terrace rather than £475pcm for a similar property in Barnes. This equates to a gross yield of 6.3% for High Barnes compared to 6.1% for Barnes

Whilst the gross yields are quite similar, this is not the only consideration when Buying to Let and it would be worth also considering the potential for capital growth, which are again broadly similar - in High Barnes the average price at the 2008 peak being £141,070 compared to £128,621 for Barnes so it really does come down to personal preference

We consistently advise that investors look for 3 bedroom properties – due to the scarcity of supply previously mentioned and also because they attract longer term tenants (it’s not rocket science but the extra bedroom means families are far less likely to outgrow a 3 bedroom property than they would a 2 bedroom)

With the typical ‘cottage’ being a 2 bed layout (3 and 4 bedroom versions will have had a dormer roof conversion) SR4 offers a range of semi-detached 3 bedroom houses both modern, such as the popular Havelock Park development or older ex-council properties in Ford Estate -  the two areas being less than a mile apart

The average rent for a 3 bed semi on Halesworth Drive, Havelock Park is £575pcm (and we know that such properties will be popular as we manage several on this estate) and with an average sale price of £105,000 this would return a gross yield of 6.5%, we've certainly seen a lot worse return for relatively modern properties

The average rent for a 3 bed ex council semi on Falkand Road, Ford Estate is £525pcm, which based on an average sale price of £85,000 delivers a far healthier Gross Yield of 7.4%

Comparing capital growth potential, interestingly prices in both Havelock Park and Ford Estate are up around 12% on the peak in 2007/8

Finally one of the areas we regularly tip as containing good long term investments in Sunderland is Grindon. The location is good being very close to the A19 and the 2 or 3 bedroom ex-council properties are both popular with tenants and are available at prices that offer good returns

By way of example, the cheapest 3 bedroom property sold within the last 12 months in Grindon was this ‘needs work’ semi in Galashiels Road priced at £53,500

Whilst it may be possible to achieve a little more rent, we would tend to advise a realistic rent of around £495pcm (keeping under the magic £500 barrier) which based on the above plus a further £15k for improvements would still deliver a cracking 8.6% Gross Yield

The above example proves there’s clearly good investments to be had in the SR4 postcode but as always we recommend taking expert impartial advice before making any purchase


Please call on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for objective & impartial advice on all aspects of property investment in Sunderland

Three Bedroom Seaham Semi - Excellent Internal Condition (7.4% Gross Yield)

Don't judge a book by its cover! This ex-council 3 bedroom semi in the Parkside area of Seaham is nothing special externally but the internal shots reveal the current owners have updated it throughout to a very high standard

With this in mind, if priced sensibly it will be popular with a range of working tenants

Based on the £79,950 asking price and £495pcm rent it will achieve a healthy 7.4% Gross Yield - click below for details

http://www.zoopla.co.uk/for-sale/details/33770824?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Tuesday 8 July 2014

Two Bedroom Semi in Town End Farm (7.6% Gross Yield)

This 2 bedroom semi in the ever-popular Town End Farm needs a little TLC but once complete will appeal to a range of working tenants

Adding a very generous £5k onto the £69,950 asking price will cover internal repairs & redecoration, new flooring and sorting out the gardens

Once complete, the property will rent at £475pcm giving a 7.6% Gross Yield based on the £74,950 total investment

Click for details http://www.zoopla.co.uk/for-sale/details/33748434?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com if you'd like more information or to discuss

Monday 7 July 2014

'Ready to Let' Moorside Flat (6.3% Gross Yield)

For those investors not wanting to go down the ex-council semi route, Moorside flats offer a steady return of around 6.0 - 6.5% Gross Yield and given the location close to Doxford International Business Park there's never any shortage of working tenants

Our experience is that gas central heating makes a big difference, not only in tenant interest but also in the achievable rent, with a ceiling on what can be achieved without it

This 2 bedroom first floor flat has gas central heating and looks to be in great condition so it is 'Ready to Let'

At £95,000 the price is at the upper end of what Moorside flats tend to go for, but given the condition and the GCH it will command the higher end of the achievable rents at £495pcm, returning 6.3% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/33754450?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 


Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Friday 4 July 2014

Fifth Floor Echo 24 Apartment (+9% Gross Yield)

Landlords willing to tap into the International Student market can look forward to +9% Gross Yields with this modern Echo 24 apartment 


This will have been bought new for over £180,000 but it's now offered at £85,000 - making it a much better prospect as an investment

It should be possible to achieve £650 - £695pcm so even based on the lower figure will return 9.2% Gross Yield

There's a hefty service charge to bear in mind and obviously the ongoing repairs and upkeep associated with letting a furnished property to students, so it won't appeal to everyone but for those who are interested, there's likely to be no shortage of interested tenants

Click here for details http://www.zoopla.co.uk/for-sale/details/33720972?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Thursday 3 July 2014

Three Bedroom Semi in Hylton Castle (6.7% Gross Yield)

This 3 bedroom semi is close to Nissan & the A19 and will be popular with a range of working tenants

It looks to be in good condition, needing only cosmetic redecoration (kitchen & bathroom look OK)

It's on the market for £84,950 and based on an achievable rent of £475pcm will return 6.7% Gross Yield - click below for details

http://www.zoopla.co.uk/for-sale/details/33680494?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert    

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

1 Bedroom Flat for sale at Auction - Heavily Reduced & Worth a Look (8.1% Gross Yield)

We've just recently let a 2 bedroom flat in this block so know that this 1 bedroom flat should also be popular

It was originally put on the market at £59,950 but is now for sale in the Agents Property Auction with a Guide Price of £49,450 - click here for details http://www.zoopla.co.uk/for-sale/details/33693124?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert 

Assuming it sells for around £55k it will return 8.1% Gross Yield based on achieving £375pcm, making it perhaps a low cost entry-level investment for someone new to Buy to Let

Call us on 0191 567 8577 or email neil.whitfield@belvoirlettings.com for more information

Tuesday 1 July 2014

Three Bedrooms, Decent Condition, Popular Area, 8.8% Gross Yield - Whats Not To Like?

This 3 bedroom semi is in one of our preferred investment areas (Downhill), that's always popular with a range of working tenants

It seems in good condition, requiring only a lick of paint in some of the rooms (the kitchen and bathroom look decent)

The selling agent claim it will return £520pcm, even chipping away to a more likely & realistic £495pcm and adding £2.5k onto the £65,000 asking price it will return 8.8% Gross Yield and will have a queue of long term decent tenants

Click below for details - but I'd hurry as I suspect this will get snapped up! 


http://www.zoopla.co.uk/for-sale/details/33724521?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert

Call us on 0191 567 8577 for more information, or email neil.whitfield@belvoirlettings