Super property in Springfield, Chelmsford

We had a potential landlord come in to our office a couple of days ago asking for our advice on rental properties, and what they should be buying, we had a look through Rightmove together and we spotted this one, I thought it would be worth putting out there for any other landlords that might be interested.

It's a 2 bed apartment in Springfield, not the most inspirational from the outside, but hey, you don;t live on the outside looking in! Inside though it appears to have been updated a fair bit with a nice modern kitchen. It has an asking price of £185,000, which doesn't seem too excessive and when you compare it to a rental guide of £775 pcm, you're looking at 5% as an annual return. 

http://www.rightmove.co.uk/property-for-sale/property-50591309.html?premiumA=true

I'm in the office most of the time, so if you would like to come in and discuss your buy to let options, please do so. My office is located on duke Street

 

What type of property in Chelmsford sells the best?

Knowing how saleable a property is half the battle when deciding what (or not) to buy for your next property investment. Why?  Well because one day, you may need to sell that property. If you go into the purchase with open eyes, you know most of the risks and can barter the price accordingly if you have to. Bearing this in mind, last week, a couple from Maldon popped into our offices to ask about investing in property. Their concern was if we have another property slump (and we will because that is what has happened to the British property market ever since the 1950’s), if they did need to sell, what type of property would be easier to sell. Now everything sells, even during a slump, but I did some research and followed up their query – I was actually quite surprised with the results.

A good guide to judge the saleability of property is the number of properties for sale, compared to the numbers that are sold, subject to contract. Now I carried out this comparison last week, so the numbers will be marginally different today, but of the 44,183 households in Chelmsford there are 1,243 properties on the market for sale. Of those 1,243 properties, 522 properties are fully available on the open market waiting for a buyer and 721 have buyers and are sold subject to contract. That means 58% of property on the market has a buyer in Chelmsford.

However, delve deeper, and in Chelmsford today, 65% of bungalows on the market have a buyer and great news for semi detached property owners, as 68% of them have buyers.  Terraced houses fair even better, with 193 of the 288 on the market now having buyers (making 67%). The properties that appear to be sticking though are apartments at a comparatively lower 49% and detached houses at 55%. 

I am always giving advice to my existing and new landlords in Chelmsford on what to buy (or not as the case may be).  Having this detail of information at my finger tips, allows me to spot trends in the local market, which then enables to me to give the very best advice to my clients. I don't charge for that advice as I have plenty of opportunity to earn money by finding the best tenants for my landlords in the years to come on the investments I have advised on. 

5.5% Yield in Great Baddow, Chelmsford

 

I don't normally plug our own properties, as I don't want to be seen as being biased, but we have just reduced this property to offers in excess of £167,500. Another poplar area for rental as it's close enough to the station to be suitable for commuters, but far enough out to be a tad quieter than the hub-bub of city centre living. 

We have rented many of these flats for around the £775 pcm mark, so you could be looking at a potential annual yield of 5.5%. There's not much you would need to do to this apartment either, other than the obligatory cleaning before a tenant moves in.

http://www.rightmove.co.uk/property-for-sale/property-50293595.html

This property is vacant, so if you would like to arrange a viewing, get in touch quickly and we will get it sorted

Potential 6% return in The Village, Chelmsford!

Roll up, roll up, come an' get your 6%'ers!

A nice way to start the week with a cracking little investment opportunity. This 1 bed apartment in The Village, in Chelmsford, just off Writtle Road is prime rental territory. Popular with commuters, singles, couples, families, it offers it all. 

I can't comment too much on what it's like inside as there are no internal images, so I'm taking a bit of a chance, but given the price and the fact it is modern, one hopes that it's not a hovel! It's probably because the agent are waiting to get in to take the internals, time will tell.

http://www.rightmove.co.uk/property-for-sale/property-48451714.html

For rental purposes, these 1 beds generally rent in the region of £675 pcm, which when you calculate it against the asking price of £135,000, would look to generate you an annual yield of 6% before the usual service charges etc. So, to my mind, this property is a no brainer, if you are looking for a quick 'n' easy rental property, either as your first, or to add to your growing portfolio.

I'm always happy to share any pearls on the property market, to take advantage, why not come in and see me in our office on Duke Street