Tuesday 30 September 2014

'Ready to Let' 3 Bedroom Semi Detached in Town End Farm (+7% Gross Yield)

This 3 bedroom semi in the always-popular Town End Farm will appeal to a wide range of family tenants and appears 'Ready to Let'

It's being advertised as OIRO £84,950 and based on paying this asking price and £495pcm rent it will return 7.0% Gross Yield - clearly there appears to be room for negotiation so the Yield should increase further...

Click here for details http://www.zoopla.co.uk/for-sale/details/34584308?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#CW9EvHGoW8Up7v1Y.97 

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

Monday 29 September 2014

Three Bedroom Pallion Semi Detached (7.8% Gross Yield)

'Proper' three bedroom semis are quite uncommon in Pallion, the majority of 3 bedroom properties being 2 bedroom terraces with dormer loft conversions

With this in mind this 3 bedroom semi on Cheviot Street will be popular - it looks to be in reasonable condition but I'd allow £5k for flooring and decoration on top of the £79,950 asking price

Based on a total investment of £85,000 and an achievable rent of £550pcm it will return a healthy 7.8% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34615147?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#uacACAyIggAjGdsV.97 

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

Friday 26 September 2014

Immaculate 2 Bedroom Modern End Terrace in Popular Area (7.1% Gross Yield)

This 2 bedroom modern end terrace is in a popular area and has lots going for it, so there should be no shortage of interest from Good Tenants


It's 'Ready to Let' and with a conservatory and off-street parking it will be popular with couples and young families

Priced at £79,950 and able to achieve £475pcm rent it will return 7.1% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34552777?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#t6u8up9jCwCm5IQd.97


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

Thursday 25 September 2014

Bargain but "Needs Work" 1 Bedroom Flat Close to City Centre & Mowbray Park

This 1 bedroom top floor flat needs lots of work throughout and once completed it will be competing against a lot of similar flats in Ashbrooke but the bargain price makes it worthy of consideration


It's on the market for £29,950 and I'd allow a further £15,000 for improvements so the total investment will be the best part of £45k

Both Sold Prices and Rents in SR2 have fallen in recent years (due to oversupply in both markets) but even so, based on the above and £350pcm rent this will return 9.3% Gross Yield and even with the large quantities of similar properties on the market there's scope for capital growth given most similar 1 bedroom flats in converted properties start from around £65,000

Click here for details http://www.zoopla.co.uk/for-sale/details/34541729?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#zU3sOS5zhkyidXt4.97 

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

Immaculate 3 Bedroom Semi Detached (6.0% Gross Yield)

This immaculate 3 bedroom semi detached home in Plains Farm will be popular with working family tenants and is 'Ready to Let'


Given the excellent condition both inside and out it limits the scope for building in capital growth through making improvements but it does offer the chance to hit the ground running with a 'lettable' property and may therefore appeal to less experienced landlords

Based on the £109,950 asking price and a realistic and achievable £550pcm rent it will return 6.0% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34549268?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#4qdbqmceAxE4QXsG.97

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

Wednesday 24 September 2014

Investors Guide to Sunderland (SR5)

Regular readers of this blog will know that I'm puzzled by a reluctance by many investors to consider the SR5 area north of the River Wear.

This applies mainly to Sunderland locals rather than 'out-of-towners' and may be due a combination of negative preconceived ideas about the area along with a fear of the unknown (as the vast majority of our local landlords live south of the river).

That's a real shame as they are missing out on great investments, which ironically are often snapped up by investors from out of the area who aren't constrained by such preconceived ideas and have a much more open mind.

I often highlight 2 or 3 bedroom, ex-council properties in the SR5 postcode in areas such as Downhill, Town End Farm and Redhouse which would attract working tenants & families who often look to stay in a property long term due to having a close family support network nearby.

It’s possible to pick up properties in the above areas for a better price than in comparable properties south of the river, making them worthwhile investments and making it possible for landlords to expand their portfolios for less.


As an example, the most recent purchase of a 2 bedroom semi in Redhouse was £55,000 paid in July for a property on Rochford Road. This would return a Gross Yield of 9.8% based on an achievable rent of £450pcm (assuming no additional spend was required to bring the property to a lettable condition). 

For comparison, the most recent purchase of a comparable 2 bedroom property in the other areas we highlight such as Farringdon (SR3) or Grindon (SR4) was £65,000 & £76,000 respectively (both in June 2014) 

Whilst the purchase price may be higher, the achievable rent may be a little higher in Grindon or Farringdon (£475 - £495pcm), so they still return healthy 6.5% - 7.8% Gross Yields, but not quite as good as the example shown in Redhouse.

Investors who prefer leasehold flats rather than houses can also make decent investments in SR5. Regular readers will know we rarely promote flats in or around the City Centre or Ashbrooke but do suggest that the two bedroom flats in more outlying areas built between the 1960's & 70's can make good investments. 

The average sale price of such a Moorside (SR3) flat is £78,505 and with rents ranging from £450 - £495pcm Gross Yields of 6.8% - 7.6% can be made. A comparable 2 bedroom flat in Downhill costs on average £59,850 and will return 7.9% Gross Yield based on a conservative achievable rent of £395pcm.


Furthermore we often see bargain flats in this area which can make ideal first investments for inexperienced landlords looking to make an inexpensive first purchase and in doing so build in capital growth - for example a 1 bedroom flat in King Henry Court was bought for £30,000 in June of this year - it needed about £10,000 of work doing to it but in doing so the investor will have built in capital growth in excess of the additional spend - for proof of this a similar size flat in the same block (but in a much better condition throughout) was sold for £47,000 in July.

Whilst the above areas would be chosen primarily for their ability to deliver healthy yields they would not be the areas where an investor should automatically expect to make significant capital growth. 

That said, it’s worth noting that when recently looking at house price trends across all SR postcodes the area showing consistently the highest percentage growth is the SR5 postcode with 11.0% growth vs. 2009 values, 7.5% growth in the last 3 years and 6.6% growth within the last 12 months.

What’s more, given competition for tenants is often more fierce in the more established rental areas of SR2, SR3 & SR4 due to a greater supply of properties, landlords who are prepared to look further afield can find that they find it easier to pick up good tenants and therefore have less of a risk of their properties remaining empty.

It's anecdotal rather than scientific but as mentioned above we typically find that tenants in SR5 stay significantly longer than those in some other areas, which is clearly in an investors interests to maximise their rental income and risk fewer void periods.


The above examples prove there’s clearly good investments to be had in the SR5 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




Modern 2 Bedroom Apartment in Seaham (7.0% Gross Yield)

This 2 bedroom apartment is in a new Miller Homes development in Seaham and should be popular with young professional tenants or older tenants wishing to downsize


It's on the market for £84,000 and will achieve £495pcm rent, returning 7.0% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/29286007?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#cppgVQItEXVQOArK.97


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

Tuesday 23 September 2014

Three Bedroom Modern Semi Detached in Roker (7.0% Gross Yield)

Modern three bedroom properties are in short supply in Sunderland and no more so than in the SR6 postcode


With this in mind this semi should be popular with family tenants and give good potential for capital growth

Based on the £109,950 asking price and £650pcm achievable rent it will return 7.0% Gross Yield (but given the most recent sale of a comparable property in this street went for £95,000 in July 2012 the asking price may be a bit ambitious...)

Click here for details http://www.zoopla.co.uk/for-sale/details/34549279?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#TzeJfz6Pgd9tHDEz.97 

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

Monday 22 September 2014

Bargain Two Bedroom Flat Close to St Peters Campus / Metro (8.3% Gross Yield)

This 2 bedroom flat will appeal to a wide range of tenants and the location close to the City Centre & St Peters Metro will be a plus

It's got electric storage heating which may not be to all tastes but even so it looks to be in a tidy condition and should still achieve £450pcm rent

Based on the £65k asking price that will deliver a healthy 8.3% Gross Yield - being a flat there will be a service charge but this is relatively low compared to newer, larger developments

Click here for more info http://www.zoopla.co.uk/for-sale/details/34555213?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#MrMEdxpY3PDcowGt.97 

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

Friday 19 September 2014

'Ready to Let' Town End Farm Semi-Detached (7.0% Gross Yield)

We know that many local investors are cautious about investing 'north of the river' in SR5, we can only assume due to fear of the unknown & perhaps bit of negativity surrounding nearby Castletown & Southwick


What this means is that those who do dare to invest in Town End Farm, Downhill, Redhouse etc can often pick up a better property AND have a steady supply of Good Tenants, as the market is not as saturated as in Millfield/Pallion, Ashbrooke etc

This immaculate 2 bed semi will rent out at £495pcm and based on the £84,950 asking price will return a very respectable 7.0% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34485489?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#oFTp2Bd7JvhAJCu2.97 


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

Thursday 18 September 2014

Three Bedroom Ground Floor Flat (7.1% Gross Yield)

This 3 bedroom ground floor flat in Silksworth is another 'Ready to Let' property that looks to offer spacious accommodation and will therefore appeal to a range of tenants


The surrounding area has a bit of a poor reputation locally but we've just rented a similar property in this street to a professional woman in her 40's within a week of putting the property on the market so in our experience there shouldn't be an issue in finding a Good Tenant

Based on the £83k asking price and £495pcm rent it will return a decent 7.1% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34524436?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#r7d2oT6shF6BYpxP.97

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

Wednesday 17 September 2014

How Can You Find a Good Property Deal in Sunderland?


How to find a genuine property bargain has always been near the top of most local landlord’s thoughts & perhaps that’s never more than now when many Landlords are looking to add to their portfolio.

I’ve built up an extensive database of every property sale in Sunderland since the late 1990’s, so I’m able to give an objective and unbiased opinion on what makes a good property deal or investment and what you should avoid. 

Knowing what’s happening now and what has happened to the property market in Sunderland, compared to say Newcastle or Durham, enables me to spot any trends or 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 a few years later for a very healthy profit.


A 3 bedroom, late 1960’s semi on Acklam Avenue in Grangetown sold in February 2012 for just over £106,000. Admittedly it needed work, but what a bargain, because they sold it last May following modernisation for £152,950 ....a 44% increase in just over 2 years.

I spotted a similar bargain in Sorley Street, Millfield last year - the buyer paid £58,000 in June 2013 for a typical and unremarkable 2 bedroom terraced ‘cottage’, selling in July this year for £74,000, a very healthy increase of over 27% in just over a year.

Clearly for every bargain there’s likely to be a larger number of ‘money pit’ poor investments that you should be aware of and avoid – here’s a couple of notable horror stories I’ve spotted.



You’d expect a 4 bedroom semi in sought after Kentmere Avenue in Fulwell would offer a sure fire guarantee of decent capital growth but one unfortunate buyer paid £120,000 in May 2013 and sold again at £90,000 in April of this year, a 25% reduction in value.

No tale of 
Sunderland property investment ‘flops’ would be complete without a mention of the apartments built between 2004 & 2007 such as River View & Echo24, the most recent example being a 2 bedroom River View apartment bought new for £168,000 in 2005 and sold in May this year for £72,500, a whopping 57% reduction on what was paid. You have been warned!!

Whether you’re a current Belvoir landlord or not or just someone thinking of investing in the Sunderland rental market for the first time, drop by our office in Frederick Street for a chat & to get some advice on where the bargains are or call me on 0191 567 8577 or email neil.whitfield@belvoirlettings.com  


Three Bedroom Farringdon End Terrace (7.9% Gross Yield)

Given we always suggest 3 bedroom properties are preferable to 2 bedroom properties (because family tenants tend to outgrow them less quickly...) this Farringdon end terrace property demands further attention


Internally it looks to be in good condition, the gardens could do with a little TLC however

Based on the £84,000 asking price and £550pcm rent it will return 7.9% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34525135?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#gLRmoA7Dht6j4ZEJ.97

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

Tuesday 16 September 2014

'Ready to Let' 2 Bedroom Semi in Grindon (7.4% Gross Yield)

Another well presented and very lettable ex-council semi, this one in Grindon

It looks to be in great condition so needs no work doing to it, which does mean there's less scope for adding capital growth but the upside is that you'll be able to rent it straight away (and at a very decent yield)


Based on the £79,950 asking price and a very realistic £495pcm in rent it will return 7.4% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34518012?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#Zhw0yKBoRTkkSEIQ.97 

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

Monday 15 September 2014

Two Bedroom Farringdon Semi-Detached (7.0% Gross Yield)

This two bedroom ex-council semi in the popular Farringdon area looks to be in a decent lettable condition and should be popular with couples and young families

It's being marketed at OIRO £84,950 meaning you should be able to chip away a little - even so, based on paying the full asking price and getting a very achievable £495pcm rent it will a very reasonable 7.0% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34513606?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#ExPCvTq11JSkOP5y.97


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

Wednesday 10 September 2014

Two Bedroom Semi Very Close to Nissan & A19 (7.4% Gross Yield)

This 2 bedroom ex-council semi is in the Hylton Castle area which may not be the most exclusive part of Sunderland but in our experience there's no shortage of good, working tenants looking to live there and the location close to Nissan & the A19 is a definite plus

Priced £79,950 it doesn't look to need much work (possibly making the decoration a bit more neutral) and it will deliver a decent 7.4% Gross Yield based on a very achievable £495pcm rent

Click here for details http://www.zoopla.co.uk/for-sale/details/34473110?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#2zwepwWD0PXwDVMV.97

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

Three Bed Ex-Council Semi in Ryhope (7.6% Gross Yield)

This substantial 3 bedroom ex-council semi looks to be in a Lettable condition (requiring only a lick of paint and selective carpet replacement, nothing too major)

It's Ryhope location will be popular with long-term family tenants and the front and back gardens, additional loft room and off street parking will make it popular

Priced at £90,000 if you pay the asking price and achieve £575pcm it will return a decent 7.6% Gross Yield 

Click here for details http://www.zoopla.co.uk/for-sale/details/34472600?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#GS7bJLzpw955FgZ0.97 

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

Tuesday 9 September 2014

Possible Auction Bargain - 3 Bed Riverview Apartment (9.6% Gross Yield)

The Riverview development on Low Street tends to buck the trend of City Centre apartments being hard to rent & at reduced rents - we find that the apartments we manage there are easy to rent out (typically to young professionals or students) and the rents have held firm in recent years

This 3 bedroom apartment could be a bit of an auction bargain - the guide price is £55,000 and the most recent 3 bedroom apartment sold for £75k in 2011, the previous one selling for £103,900 earlier that year

Based on a purchase price of £75k it will return 9.6% Gross Yield based on a conservative £600pcm rent - as it's a leasehold apartment you'll need to take Service Charges into account

Click here for details http://www.zoopla.co.uk/for-sale/details/34413225?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#0aGCevkVYFzM3j0c.97 

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

Monday 8 September 2014

Two Bedroom Ryhope Semi-Detached (7.8% Gross Yield)

This two bedroom semi detached property in Ryhope will be popular with a range of tenants and looks to be in a decent condition that will attract interest

It's for sale at £72,950 and will acheive £475pcm, giving a Gross Yield of 7.8%

Click here for details http://www.zoopla.co.uk/for-sale/details/34407662?tmad=c&tmcampid=35&utm_campaign=buy-alert&utm_content=contact-type-listing&utm_medium=email&utm_source=alert#GIGFa2y5uLgMbgAr.97 

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

Wednesday 3 September 2014

'Ready to Let' 2 Bedroom Semi in Thorney Close (7.2% Gross Yield)

This 2 bedroom semi in Thorney Close looks in immaculate 'ready to let' condition and with 2 reception rooms, off street parking, garage and gardens it will be popular

The 'Guide Price' of £75,000 suggests that they may accept less, but even based on paying the asking price and achieving £450pcm rent it will return 7.2% Gross Yield

Click here for details http://www.zoopla.co.uk/for-sale/details/34384463?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

Tuesday 2 September 2014

Three Bedroom Terrace Close to Sunderland Royal Hospital (7.5% Gross Yield)

This 3 bedroom terrace is currently rented achieving 'around £600' which would return 7.5% Gross Yield if the £95,000 asking price was paid


I've seen inside it a couple of years ago and it's larger size means it could appeal to a family paying this amount or potentially sharers (be they hospital workers or students) may be willing to pay a little more

Click here http://www.zoopla.co.uk/for-sale/details/30247826?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 1 September 2014

Two / Three Bed Mid Terrace in Hylton Castle (7.4% Gross Yield)

This mid terraced Hylton Castle property is being marketed For Sale as a 2 bedroom property but with a loft conversion (currently being used as a bedroom) in addition to the 2 first floor double bedrooms, it will give potential family tenants more flexible accommodation

It's offered for sale at £75,000 and based on £495pcm achievable rent and a total investment of £80k (it looks in generally very good condition but the kitchen is a bit dated and could do with updating) will return 7.4% Gross Yield

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

Normal Service is Resumed!

Apologies for the lack of blog posts throughout August - a combination of School holidays and staff absence has conspired against me!

Now the schools are back and the team have returned from holiday / seem to be in robust health it should allow the regular posts to resume as before!