How about this as an investment property?

Just sometimes a little nugget comes onto the market that may well be prime for the investor. I have been quite busy the last few days but I came across the following property and I'm a bit bemused why it is so cheap!

The property

I have spoken to the marketing agent and they tell me that it needs about £15,000 spending on it to bring it up to standard but I think this could be a very decent investment property.

The property comes with a 125 year lease (owner advised) but with the right approach you could gain a decent capital gain.

So what about the figures - If it all stacks up you could be returning a 7% yield on a rent of £725 per month.

Not sure this will be on the market very long so I would get in there fast if you are looking to invest!

Leighton Buzzard 2 Bedroom House - Close To Town centre

Doing my normal Monday morning scanning, I came across this property for sale in Leighton Buzzard on Rightmove - I have not looked at it myself but you may wish to.

http://www.rightmove.co.uk/property-for-sale/property-51272780.html

It came on the market on the 21st March 2015 and is on the market for £150,000 throughout that period with no variations in price. Advertised as a renovation project and is for cash buyers only which would suggest that it is unmortgage-able. But the winner with this property, is that it is a blank canvas and with a little imagination you can bring this property into it's own.

Return On Investment

Depending on how much you buy the property for and how much your renovation costs will be, you could buy and renovate the property for about £160,000. The rent is estimated as being in the region of £780 per calendar month giving you a 5.8% yield on your investment.

Valuation Estimate: £174,000

Valuation Range: £157,000 to £192,000

Rental Range: £700 - £860 pcm

Rental Estimate: £780 pcm

EPC: G!!

Demand

Rental demand in this area is very high, so you will have no trouble renting this out once it is renovated. You will, more than likely, rent this property out to a couple or single professional person for medium to term.

If you are one of the many readers of this blog looking for investment property, why not give us a call today and we can talk you through your options and help you find your next investment property - Like the one above! Call Mark on 01296 20 1234

Are We In A Buyers Market Or Sellers Market?

I suppose the answer to that question very much depends on whether you are a buyer or seller, but think about this.

The election is looming and we are just 3 weeks away from the one of the most tightly contested elections for many many years with much uncertainty on the horizon

So, just how is the election effecting the property market in Leighton Buzzard?

Take a look at this graph. 

I got this information from +Rightmove  this morning and found the result not surprising. I have said for a few weeks now that the election is having an effect on the property market, I even said to a friend of mine last night that we have seen a flurry of activity in February and the market has dropped off with regards to new instructions.

The last quarter of any year will always see a drop in properties coming onto the market as Christmas approaches. Traditionally, we then see the market start to pick up again and when spring is upon us the market is starting to get into full flow.

But not this year

From the graph above you can see that the Leighton Buzzard property market in the area has been gradually declining, but what will happen post election?

I personally believe that once the election is out of the way, we will see a flurry of properties coming onto the market which will make the market a buyers market. But what market do we have at the moment?

Let me have your thoughts below in the comments section if you think the Leighton Buzzard Property Market is a buyers or sellers market.

With the lack of instructions I believe it is a sellers market