Bournemouth BTL deal

If you are looking to start your BTL journey or you are a seasoned investor then here is a option for you to consider. I have been fortunate this week to have been instructed on a tenanted 1 bedroom first floor flat with ground floor entrance, own rear garden, freehold and converted loft room on top of the usual bedroom, lounge, kitchen and bathroom. See link below:

Sales

As it is currently tenanted it is a ready made investment. It currently rents at £650 pcm, with a scope for increase. Being located close to ensbury park it sits in a very central, and handy location offering great access to all local areas.

Having the freehold means no leasehold fees or concerns over lease length and no monthly or annual maintenance costs controlled by someone else.

At the current rent of £650 pcm it offers a return of over 5%. Couple that with what should hopefully be good capital growth and a rising rental market this looks a solid investment that should only go one way…

I am happy, as always, to chat through your personal requirements and thoughts surrounding BTL investment and what you are looking to achieve through any BTL purchase. Feel free to contact me anytime on aaron@gordonbarker.com

Bournemouth Landlords – How do your rental prices compare??

Whilst having an investment conversation with a Bournemouth landlord last week he asked me a question about how his properties were performing against the average in the area. So below was the research graph I showed him:

This graph showed her that his 1 bedroom property on the Talbot Woods / Winton border was outperforming the average 1 bedroom in the area by some distance. It was renting for £695.00pcm in 2015 (market average at £585.00pcm) and has just renewed at £725.00pcm at the end of 2016. A statistic that he is very happy with, as this shows it is out-performing the market average by over £100 per month now and shows an increase of 4% (as opposed to the market average of only 2%)

Just as I finished this conversation another client called, with a maintenance issue. Once we dealt with the details of that and arranging a contractor to fix it, I informed them of the previous conversation I had just had and he asked how his 3 bedroom house in Winton was performing against the average. The graph shows the average 3 bedroom property in Bournemouth rents for £1009.00pcm (on average from Oct ‘15 – Sept ‘16) whereas his 3 bedroom house in Winton was renting for £1395.00pcm. His property is a 3 bedroom 2 reception room detached house wit stunning rear garden and garage, so was always going to be out-performing the average but it is always lovely for a landlord to see the choices they made, the property we let for them is doing so well.

Please do use this graph above to judge your property against the market average, and if you want a 2nd eye to look it over or want a true market valuation with supporting evidence report then please do give me a call or email me and I’d happily take a look for you.

Read more articles: Why not read more articles from the Property Blog | Bournemouth by clicking this link..

Speak to me: If you’d like to speak to me about anything in this article, or anything property related please do drop me an email at aaron@gordonbarker.com. I’d love to hear from you.  

 

 

 

 

 

BH8 experiences sharp rise in 2016..

So, its February and it’s a great time to recap on what 2016 gave us, took from us and a look forward at what 2017 has in store. Whilst drinking my morning coffee, and munching on a crumbling chocolate cookie (new year, new you fitness regime suffered a momentary loss of momentum) I felt it only prudent to assess the best of 2016. So here goes: 

At one point, there were 355 properties being market, in July 2016, which was up from 293 in the corresponding month of 2015, That’s a rise of over 21% in marketed properties. And August followed suit with a rise of over 23% in market properties. But what did that do to prices? Well, by the end of August 2016, compared with August 2015, we saw the average semi-detached house and terraced house prices rise by 23% and 17% respectively and flats rise by 7%. Now that’s good growth year on year.

My experience within Bournemouth BH8 concurs with these stats. There was certainly a feeling of increased property on the market, and that prices had risen but this has meant that owners need to be realistic about what their property is worth to sell it successfully. It has never been more important to ensure accurate and realistic pricing when wanting to sell in good time.

We note that prices have risen in that time, but the rate of the raise needs to be considered when looking to sell as marketing at too high a price while there are a larger number of properties on the market can be detrimental to selling as those around will sell before yours if they’re priced more approximately. This is why I feel it is more important now, than ever before, to be realistic with pricing to attract the buys and not push them away. A property marketed at the correct price, with the correct advertising and using the right medium will result in a successful sale.

Read more articles: Why not read more articles from the Property Blog | Bournemouth by clicking this link..

Speak to me: If you’d like to speak to me about anything in this article, or anything property related please do drop me an email at aaron@gordonbarker.com. I’d love to hear from you.

FERNDOWN PROPERTY OWNERS – What’s happening to your property??

Ferndown property owners…how is your property performing?

Whilst sitting and arranging our visit to an event in Ferndown coming up it intrigued me to think exactly how property in Ferndown has performed over the last few years.

Rightmove.co.uk, as we know is the biggest property portal in the country, shows us that in November 2014 the average price of any house sold in Ferndown was £299,960 and by October 2016 this has risen to £335,870. That shows a BH22 average price rise on properties sold of approx 12% in just 2 years. Looking into this in a bit more detail shows that this has been a steady increase across that period, with the exception of a few spikes due to some larger properties being sold in one off sales.

Zoopla.co.uk also shows a similar increase with approx £300,000 being the average house price in BH22 in 2014 and over £350,000 being the anticipated average house value in 2017…again this is a staggering 16% 3 years. A great performing area. But why might this be?

Ferndown is an area that feels like it’s improving year on year in every aspect we see. There are new properties being built all the time, new blocks and new developments and there is a constant notice of new roofs, new cladding, refurbishments that can be seen when travelling around. Occupants and property owner of Ferndown are themselves increasing value. A new M+S food hall has recently been finished and a high street coffee shop chain is also now in Ferndown along with the large Sainsbury’s and large Tesco supermarket it now offers essential food shopping (plus some extra bits) to all family types in the area and a popular cup of coffee / mocha / hot chocolate to go with it. More and more reasons for local residents to stay in Ferndown as opposed to travelling to other local areas for these things…

The Schools in Ferndown also rank highly with Ofsted with results of ‘Good’, ‘Good’ and ‘Outstanding’ for Ferndown First, Parley First and Hampreston First respectively. Ferndown upper has also now turned around what was a previously indifferent Ofsted report to a ‘Good’ status and it’s GCSE and A Level results are believed to be are on par, or above that of it’s local rivals in Wimborne / Cranborne areas. And with the long awaited opening of a new school, Parkfield, in Hurn this will continue to push the competition within schools and ultimately the standard of schooling.

Schools are increasingly becoming a large reason why young families move to and area an buy, or rent and with the current situation looking good for schools, shopping and a large (and ever expanding) industrial estate Ferndown really looks to be a good place to be buying and/or living

And as for renting, whether this be looking buying a BTL rental or looking to move and rent in Ferndown all the same reasons apply as to why this is a great rental area. Especially with such easy access in / out of Hampshire and other areas of Dorset and less that 2 hours to central London it offers a huge amount to household of all shapes and sizes.

And of course, we can’t forget the stunning Ferndown Golf Club, that attracts new buyers and residents every year, and the amazing homes and beautiful garden we see from Golf Links Road that really do set the standard within Ferndown.

We love looking into our local property market and will showcase other areas surrounding Bournemouth soon. But for now here’s Ferndown as we see it..

We will be exhibiting at a local Trades and Services Fair on 18th Feb 2017 at The Barrington Centre next to Tesco, be sure to pop down and see us that day! 10am – 3pm and we’re always happy to talk Ferndown, Ringwood and Bournemouth / Poole property markets for both sales and lettings with anyone that wants a chat

Always to happy to speak about our local property market so feel free to email me on aaron@gordonbarker.com any time.