Monday, 7 December 2015

Looking for a bargain in todays market is hard work! But this could be just what you are looking for....

As someone who keeps investors up to date with ideal purchases to add to their property portfolio across the Isle of Thanet, I have to admit that there hasn't been too many great deals over the last few months to really get excited about. Until now!

Over the weekend this little gem popped up. Currently being marketed with two agents and in need of complete refurbishment before a new tenant could move in. It is being marketed for £110k. Since September this year there have been four 2 bed terraced houses (very similar to this one) that have sold for £140k - £155k. We currently let 2 similar properties within 0.25 miles of this one for £675 pcm so would envisage a similar figure for this property, giving a very generous 7%+ gross yield. This house is currently the cheapest on the market in Margate and should be high up on the list of properties to view for any investor.

Check the full details here

http://www.cookeandco.com/FullDetails/JDK00014898/false/false/house-for-sale-11-biddenden-close-margate-kent-ct9-3rd

If you don't have the time to keep up to date on possible BTL purchases then give me a ring and I can do it for you, sending through any potentially decent purchases with a lowdown of all the important facts and figures regarding the area via email.



Thursday, 14 May 2015

Who Wants 7% Gross Yield?

Whilst looking for a decent buy for one of the investors I work closely with I came across this property in central Margate. 



The rental price would be around £800 pcm and would appeal to a number of prospective tenants. It was initially listed on Rightmove in March so I think that the asking price will be negotiable. Taking that into account the gross yield on this one would be around 7%. It is fairly simple to find a property that can offer you over 6.5% gross yield but you do need to know what to look for and where to look for it. If you are not familiar with the areas then it can be easy to buy completely the wrong property. With over ten years experience in Estate Agency in the local area I am best placed to help you. If you have read some of my other blogs then you will know that I don't sell property, I am purely a lettings only agent and buy to let specialist. This enables me to offer truly impartial and honest advice, stopping you getting conned in to buying something that really isn't suitable to look after your money and give you the returns you should be getting. If you are looking at investing across the Isle of Thanet then get in touch. 

gavin.horton@belvoirlettings.com

Here is the link to the property I discussed above. 

http://www.rightmove.co.uk/property-for-sale/property-45275423.html

Wednesday, 8 April 2015

Why you need to contact me first!

As a local chap working in the property industry in my local markets it is easy to forget that for people who don't really know the local area, finding a property that provides a steady stream of income with minimum amount of stress can be a hard task and one could end up with a property or tenant that does nothing but cost them time, money and a lot of hassle. Some of you may be thinking "that is why you speak to the local estate agents", however they are employed by the seller to sell the property, not by people looking to buy. It is in there interest to sell the property and earn their commission, that's what matters to them, what doesn't matter is who buys it and whether or not it's the best property for them. 

Over the last week or two I have been dealing with investors on different ends of the spectrum. On one hand we have a gentleman from London who has in excess of one million to spend on several investments and on the other hand a couple from Cambridge that don't know Margate too well and want to be fairly cautious so are looking for a 1 bedroom apartment in the region of £80k. Even though they are looking at differing properties, ultimately the aim is the same. Both want a secure investment that will bring a constant stream of steady income with as little stress as possible.

This is where I can come in, with almost a decade of experience within the industry and in the local area with the knowledge that I have garnered, I can assist in the property search. I can tell you what to buy, where to buy it and what not to buy and where not to buy it! Why can you trust me over other agents? Quite simple. I don't sell property, my advice is free and completely impartial. What's the catch? There is none, hopefully we get on well and you would like me to find you a suitable tenant and manage the property eventually, but there is no obligation so if you want to then you can go elsewhere. 

So really you have nothing to lose by contacting me first before you go ahead with a purchase. You can even send me a link to the property you are interested in and I can let you know if it will be a decent investment choice. 


Come in for a chat. Teas and Coffees are on me! 


Wednesday, 25 March 2015

A cautionary tale to all landlords...


Do you REALLY know who you are renting out your property to? How do you know that the person you meet is the person they say they are, and not an illegal sub letter? Would you knowingly want to be involved with shady tenants, or would you rather be protected from them?

What if your tenant trashes the place, rips off doors and radiators, kicks holes in the walls or runs a cannabis factory from home? Where do you stand – probably not where you want to be, that’s for sure. We have reports of these horror stories (and worse!) from even some of our seasoned landlords, who all had enough experience to cope with such matters – or so they thought. Can you imagine the stress and financial burden this would put on a novice at the start of their investing career?



The common denominator here is people – well, specifically tenants. Property investors often forget this is a PEOPLE business, it’s all about how you deal with them and how they interact with you, how you pick the good from the bad in the first place, and how do you know who to trust? Well if you don’t do thorough due diligence on your new tenants then the truth is you don’t. Would you honestly spend, for example, a quarter of a million pounds on a nice 3 bed semi and then effectively hand it over to strangers? Some landlords, and even agents, state that they want (and will get) a tenant living in an empty property before the week is out. Hmm, OK, let’s think about this – I don’t know you, you want to potentially be entrusted with what is in effect a LOT OF MY MONEY tied up in the value of my property, not to mention that I will effectively be offering you credit to the value of 6 months’ rent – well I certainly want to know all I can about you my friend! First I want to take up references from your current and previous addresses, I also want to contact your employer to confirm not just your salary but also that you DO HAVE a permanent position there for a period covering your initial tenancy. Got any CCJs or financial defaults? If so then I want to know, because as I don’t know you, it tells me you are a financial risk that I could do without.


Obviously, anyone’s situation can change, so I’d like to pop around in 4 weeks to make sure you have settled in OK and got to grips with everything at the property – oh did I mention, I’ll be back in 3 months as well, and every 3 months after that, just to keep an eye on my property. Sorry what’s that, you don’t think that’s fair? Well there are currently 97 other agents listed locally on Rightmove, perhaps they could accommodate you.


You see at Belvoir, our landlords get the protection from all of the above in the detailed level of service and tenant referencing we offer. What we want our landlords to understand is that we DO know our applicants even before they become our tenants, and that’s one of the things you pay your monthly fee towards. Come on, would you really gamble £250k for a saving of around £16 per month on your fee? If so, there are 97 phone calls you could be making. If not, just the 1 call to us on 01843 293 293 is all you need to make.

Monday, 16 February 2015

Interesting investment opportunity in Margate?

Hopefully everyone had a good weekend but it is Monday now and time to get back in to the swing of things. 

Over the weekend there was one particular property that caught my eye. The investors I have been dealing with recently have the same mindset when it comes to purchasing in this area. They don't want high risk properties that can give them more bang for their buck, they want a solid property that can give them a decent yield and an attractive capital growth. Who doesn't?! I hear you say and you'd be exactly right. So it is imperative that you have your finger on the trigger and be ready to pull it when something comes up. With that being said I don't think this one will hang around for long. 



The property is similar to one that has recently let around the corner for £725 however I would expect £750 and the current asking price is £140,000. If you peruse others on the market around the area and of similar size and facilities you will see most are in the £150k - £160k range. Depending on purchase price you will be looking at a solid 6% and above gross yield. 

The property would more than likely let to potential long term tenants giving you a solid base for a few years. 

If you are currently looking to invest in property in Thanet then come and speak to us so we can give you some tips. Remember we don't sell property so our advice is impartial.

For full details click the link below

http://www.rightmove.co.uk/property-for-sale/property-40382623.html


Wednesday, 11 February 2015

6.75% Yield in Central Margate




One of our investors completed on a property in Marlborough road recently, the property had been refurbished by the previous owners so was ready to rent immediately. The property had been sold early 2014 for £95,000, had a bit of money and tlc thrown at it and was back on the market by November and sold for £120,000. The property was on the rental market for 3 days and on its first viewing we had found a tenant (once referencing had been passed). 

There is high demand for good quality property and is driving the rental prices up. If you want to be kept up to date on areas and properties that would be good for investments then give me a call. 01843 293 293 or email gavin.horton@belvoirlettings.com

Tuesday, 11 November 2014

The Highs and Lows of Milton Avenue in the last 14 years.

A landlord I know has owned a few properties on Milton Avenue for the last thirteen (ish) years. She came in to our office to take advantage of our tea and coffee making facilities (me!) and to discuss the rise and fall of property prices on Milton Avenue and how this has affected her yield over the years.


In 2000, when she purchased her first property on Milton Avenue, the average value of a terraced house on the street was £44,649 which had a sharp rise to £86,879 by 2003. This rise in value continued and in 2006 the average value was £107,250. At the height of the property boom in this area, a terraced house on Milton Avenue had an average value of £113,028. This soon dropped and in 2009 - 2010 the average was £98,832, this year has seen the average value increase to around £108,000.

When she told me of the rents she had achieved on the street, they seemed fairly stable over the thirteen years. In 2003-2004 the average rent was £410 per month, in 2006 – 2007 this rose to £556, in the slump between 2008 – 2010 it dropped marginally to £540 and now the average rent in Milton Avenue is £575, dependant on the property’s accommodation. Therefore, a landlord could expect a respectable annual yield of around 6.4% on Milton Avenue at the moment.

If you would like some advice with your potential investment, please come and see us in our office along Northdown Road. I do make a great cuppa!

Data Source - Zoopla Sold Prices - Rightmove Plus

Friday, 7 November 2014

Who wants 7.6% -- 9% yield!?

This property has come on to the market with Cooke & Co estate agents. One bedroom flats are renting very well at the moment and  would achieve in the region of £350 and £375 each month. The current owner claims he had been receiving £400 a month but seems a bit high to me, but still achievable obviously. Properties like this don't need to have a lot of money thrown at them to get them up to a rentable standard. As long as there is a decent kitchen and bathroom, a lick of paint should suffice. So a purchase price of £55k (unless you can knock a bit off) and a minimum rent of £350 each month gives a cool gross yield of 7.6%. Lets imagine for arguments sake that you can purchase this one for £50k and you tart it up a bit. Rent it for £375 a month. You would be looking at a fantastic 9% gross yield! Not bad at all!

Check out the full particulars here

http://www.rightmove.co.uk/property-for-sale/property-46915450.html




Margate Terraced Property Values Increase By £266 Per Week



Regular readers may remember that recently I wrote about house prices in Ramsgate and the increase in the last year. So I thought I would do the same for Margate.

Over the last 12 months the average property value in Margate has risen by over £15,500 from £167,063 to £182,606. A very nice 9.3% increase. I took a closer look at terraced properties as they make up nearly 34% of the housing stock in Margate. The average cost of a terraced house at the moment is £162,497 which is £13,827 more than this time last year. A nice increase of £266 per week. 

One of my Landlords who invests all over East Kent has recently bought in Canterbury so I thought I would compare our Seaside town with the Student City. Interesting results.

Canterbury has a higher weekly increase in value of £298 but prices in Canterbury are higher than Margate so we need to note the percentages on this one. The percentage increase in Canterbury in the last year is 6.9%, which is still not a bad return. However this is trumped by Margate with its 9.3% increase. It is also worth noting that property in Westgate on Sea increased by over 11% and Broadstairs is nearly 13% which is a testament to how Thanet’s property market is performing. 

If you need any advice on what to buy and where to buy it then drop in for a cup of tea and a chat. Alternatively give me a ring or drop me an email on gavin.horton@belvoirlettings.com

Monday, 27 October 2014

Easy Peasy!

This property has just become available in Ramsgate. Within 0.25 mile to Ramsgate Train Station. It is in good rentable condition with modern kitchen that includes all the aplliances. There is outside space. The only downside to this property is the parking situation. However this is perfect for those who work in London. The property will rent in the region of £625 - £650 pcm giving you a yield of around 5.75% - 6% depending on how good a haggler you are! There is very minimal if any work needing doing so a tenant could be found immediately, meaning you will have very few costs before this one starts making you money! 




Selling agents are Miles and Barr in Ramsgate. Full particulars are here

Winstanley Crescent or Dane Park Road...Which is the best investment?

I was talking to somebody last week about the St Lukes area of Ramsgate, she was considering becoming a landlord for the first time. She visited our office to ask us whether buying a property on Dane Park Road or Winstanley Crescent would make a better Buy to Let investment, and which would offer a better return/yield. She knew the area well, as she lived around there a few years ago. I confirmed that the properties on both streets let and sell well, but I wanted to do a bit more research to help with her choice...
The average price for a property on Winstanley Crescent is £141,404, while on Dane Park Road it was nearly 8% more, at £152,713. To better understand the investment opportunities available, we took a look at the rents achieved over the last year. The average rent achieved on Winstanley Crescent was £655 pcm giving a yield/return of 5.6%. On Dane Park Road the average rent was slightly lower, at £616 pcm, with a corresponding yield/return of 4.8%. We took a quick look to see what capital growth had been achieved in both roads and found that a 2 bedroom terrace in Dane Park Road was sold in 2000 for £46,000 and sold again earlier this year for £126,000 giving a capital growth of just over 93%. In Winstanley Crescent a similar property sold in 2000 for £51,950 and sold again in August this year for £149,500 giving a slightly higher capital growth of just under 97%. We found both streets to be as good as each other, but as you can see there is a difference in the yields/returns, which we would not have identified without the extra investigation. In this case it really comes down to the best available property to buy on the day.

If you are a landlord or investor, whether you deal with us or not, feel free to visit us at our office on Northdown Road to ask our opinion on which property investment is best for you.

Feeling confused about property investment? Get in touch gavin.horton@belvoirlettings.com

Wednesday, 15 October 2014

One House or Two Flats - What should you buy?


I often see investors who want to buy the biggest house they can find with their available cash.  But in the world of property investment we often find it is the investors who have divided their cash among as many properties as possible that benefit the most.  As an example I have seen that Ward and Partners are currently advertising a great family home in the Westcliff area of Ramsgate for £199,995.

It has all the hallmarks of being a great rental property, driveway, close to the train station and close to schools.  If I listed this house to rent the phone lines would go into meltdown with the amount of enquiries we would get.  Based on a buy to let mortgage of 75% the deposit would be around £50,000.  A conservative rental valuation would be £850 per month giving a yield of around 5.1%.

However if you had £50,000 cash I would be telling you to increase your yield, simply by buying two smaller properties.  I have seen a 2 bedroom maisonette on the other side of town being advertised at £99,995 and another 2 bedroom maisonette around the corner on Hardres Street for the same price.  Obviously not as attractive as the house, there are no driveways but the office phone would still ring and we would have tenants very quickly for both.  The £50,000 will buy both of these properties with a 25% deposit and I would give a conservative rental figure of £575 on each.  Combine both rents and that gives a rental yield of 6.9% - 27% higher than the yield for the house!

Here at Belvoir, we don’t sell properties so you can be 100% confident that our advice is impartial and will help ensure you won’t be pushed in to buying something that isn’t suitable when you visit estate agents. 

Thursday, 9 October 2014

Great BTL property!




Great little BTL property here. Two double bedrooms and ready to rent straight away, keeping costs down! Id expect this property to rent in the region of £650-£675 pcm giving a gross yield of around 5.7 - 6%! Demand is high in this area so finding a decent tenant will not be difficult. We recently let an almost identical property not far from this one on the second day of marketing!  

See the full details here http://www.rightmove.co.uk/property-for-sale/property-32559492.html

Tuesday, 7 October 2014

Margate has some of the most affordable properties in the South East

An Investor came in to our office earlier this week to discuss the affordability of property in Margate, with the current national property market being in recovery with increasing house prices. The best advice I can give to those looking to invest in property is our secret trick of the trade. You can judge the affordability of a town by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is.
When we put this to the test, we found that Margate currently has an average property value of around £151,759 with the average salary being £19,810. This is a respectable ratio of 1 to 7.6. Meanwhile in Herne Bay, the average asking price is £196,289 with the average salary being £21,006. The ratio of property values to salary is 1 to 9.4, which suggests the property in Herne Bay is 21% less affordable than in Margate.
We also had a look at Deal and found the average salary is £21,923 and the average property value is £204,298. This means that property in Deal is also a rather significant 20% less affordable than Margate, with a ratio of 1 to 9.3.
This could mean that now is a brilliant time to invest in Margate’s property market, while the average value of property is low compared to the average salary.
If you would like to talk to us about your potential investment or to see if you are maximising the potential of your current investments, please come into our office along Northdown road in Cliftonville or alternatively drop me an email on gavin.horton@belvoirlettings.com.

Friday, 3 October 2014

How is the local property market performing in Sandwich?

I have recently been helping a Landlord who has invested in rental properties throughout Thanet and was interested in extending her portfolio, but as a side project she asked me about the property market in her home town of Sandwich. Now we don’t actually cover that area with our property management service but I was more than happy to look into the market and see how it has been performing.
What I found out was quite interesting. The average value of a property in Sandwich is £284,942 which is £48,523 above the average of its neighbouring town of Deal. The most expensive street in Sandwich is St. Georges Place where an average property is worth in excess of £700,000. Only 13 properties have been sold in this street since the summer of 1995.
The most expensive property sold in Sandwich was a fantastic property on Strand Street, which sold for £757,000 in 2008. Quite recently, in April in fact, another property in Strand Street became the second most expensive property in Sandwich at £740,000. The average rent in Sandwich over the last 3 years has been £740 per month. According to land registry 103 properties have been sold in the last 12 months. Overall sale prices in Sandwich were up 11% on the previous year and 4% higher than the peak of 2007, this is slightly better than Deal who boast a 10% rise in the previous year and a 3% increase on the 2007 levels.
If you would like to come and discuss property in the area or need some advice on investing in property across the Isle of Thanet then you are welcome to visit our office in Margate or pick up the phone and give me a ring. 

Thanet Property - Do you know the Facts and Figures?

Here at Belvoir, we can guide you to the right places to identify property values and yields in Thanet and other useful property related information so you can make sure you get all the information you need about your future investments. Here are just a few property facts about our towns in Thanet....

There are 511 streets in the CT9 postcode area with 22,192 households, and of all those households 2,719 have changed hands in the last 5 years. In the Ramsgate area of CT11 there are 391 streets with 15,173 households and in the last 5 years 2,192 have changed hands. If we turn our attention to Broadstairs we can see there are 381 streets in the CT10 postcode with 12,628 households, and again looking at the last 5 years we can see that a little over 16% of these (2,070 to be precise) have changed hands. 

If I concentrate on Margate for this instance, we can report that compared to the national average – detached houses in Margate make up 15.34% of households with the national average being a little over 23%. Semi-detached houses make up 24.26% with the national average being 28%, 33.82% of households are terraced houses with the national average just above 31% and 26.58% of households are made up of flats compared to 17.28% nationally. Along with the fact that nearly 38% of occupants are in the privately rented sector we believe this is a good indication that Margate is a good place to buy a buy to let property.


If you would like more useful facts and figures pop in to see us at our office, we are situated along Northdown road in Cliftonville. 

Monday, 22 September 2014

Ramsgate property prices increase by £19,204 in the last year.



Last week, a landlord came in to our office to discuss the property values in Ramsgate. He owns a varied portfolio of rental properties, primarily in Ramsgate but also throughout Kent and is hoping to increase his portfolio. So it is interesting to compare the increase in property values around the areas and see what area is performing better.
Over the last 12 months the average property value in Ramsgate has risen by nearly £19,205 from £174,240 to £193,445. This is an excellent increase of 11.02%. When we looked at the values for detached houses, this average increase is even greater at £28,361. This is a considerable average increase of £545.40 per week.
When I looked at some of the surrounding towns, Ashford has a lower average increase in property value, at around £311 per week, whilst Deal has an even more modest average increase of around £291 per week. Come back in to Thanet and in Margate property has increased by around £414 per week. A great sign to see our towns outperform neighbouring areas. A great reason for people to invest in property on the Isle of Thanet.  
When considering this landlord’s buy to let portfolio, the rental values have remained fairly stable during the 12 months. They are slowly recovering to the average of around 5 years ago, therefore it could be a good time to invest in the property market in Thanet. If you would like some advice about buying to let, please come and see us at our office in Northdown road in Cliftonville. 

Thursday, 4 September 2014

Buy To Let deal of the week!


On my morning travels of Rightmove this morning I noticed this little gem. It is a two bedroom terrace house situated in garlinge high street. The property is in great rental condition and would not require any works so could be available to let immediately. The current price is £119,995 and the possible rental will be in the region of £650 pcm giving a very appealing 6.5% gross yield. If your negotiating skills are top notch and you are able to knock some ££££'s off the asking price then even more reaon to grab this one whilst you can!






The property is currently marketed byu Miles and Barr in Birchington. Here is the link on rightmove http://www.rightmove.co.uk/property-for-sale/property-31989177.html
I doubt this will hang around for long as it is in a desireable location, it has no chain and is priced reasonably No banana skins here! If you need any further information on the property markets or would like advice in general. Drop me a line on gavin.horton@belvoirlettings.com or call me 01843 293 293. 

Friday, 29 August 2014

Struggling to sell? Why not rent?


One of the main sources of new properties to the rental market over recent months has been from people who can't sell their property for a price they are happy with, so rent it instead. These properties are usually popular with tenants as by their nature, they tend to be family properties in nice areas. As such finding a tenant isn't usually an issue. However if you are an 'accidental landlord' the overall success of letting your property depends to a large extent on your understanding and acceptance of what being a landlord involves.
What do I need to do before I can rent my property?
The vast majority of this will be covered by a competent letting agent when they visit to appraise your property. Getting a couple of ARLA agents round will identify key points that come up again and again – these are the ones that really need your attention.
• Switch your buildings and contents insurance to a Landlord specific policy. Your insurer won't pay out if you haven't told them the property is rented.
• Get the relevant safety certification sorted out for your property. Again a competent agent will assist you with this.
• Sort out any little imperfections that you know exist in the property, and that you put up with yourself – once someone is paying you money to live there, they won't put up with it like you did. Cupboard doors that don't quite close properly are a classic example!
• Think health & safety! A small pond in the garden may have been fine whilst you lived in the house alone, but is not fine if your tenant has 2 small children. You must protect your own interests by dealing with issues such as this.
• Clean it! This isn't always the easiest thing to get across to someone who's lived in a property, but look at it this way – if you pay for a professional clean before the tenant moves in, you can expect the property back with a professional clean done too.
Will I be satisfied with the rental experience?
We find that 'accidental landlords' are often less satisfied with the whole rental experience than people who have bought property specifically as an investment. To an extent this is inevitable as renting the house is not ideally what they wanted to do. To make it work, your expectations need to be realistic:
• Detach yourself! Although you may have lived in the house for 10 years, at the point you rent it you need to make a bit of a mental adjustment – the property is no longer your home and is now a commercial investment! If anything it's someone else's home. The key thing for you is making the investment pay.
• Be flexible. Although you may love your flowery green carpet, this isn't something that will necessarily appeal to a tenant. Don't be offended if your agent politely suggests changing things like this – they only make suggestions like this because they know if will enable them to find YOU a tenant more quickly.
• Accept that a tenant rarely cares for a property quite as well as an owner. You should not expect damage, but you should expect wear and tear. If you rent to a family with young children, spills, scuffs and scrapes are inevitable – this is part and parcel of renting a property. In particular tenants rarely maintain a garden like an owner does – if you've spent the last 20 years developing prize winning flower beds, don't be surprised when the tenant doesn't share your enthusiasm!
• Don't drive by every day and worry! If they don't cut the front garden or clean the front windows quite as often as you did, you can't insist on them doing this, unless they are fundamentally neglecting things. What matters is that the property is returned to you at the end of the tenancy in the same condition it was given, minus reasonable wear and tear.
What does an agent do?
Most 'accidental landlords' choose an agent to manage their property, rather than doing so themselves, as they don't have experience of letting, and don't know much about tenancy law. It's always a good idea to get a couple of different ARLA agents round and listen to what each has to say – in that way you'll get a flavour of what each can offer. Remember that finding a tenant is the easy bit – the skill is in looking after the property on an ongoing basis. You'll find ARLA agents are better geared to do this than estate agents who have opened a lettings department.
Don't make the classic mistake of choosing the cheapest unregulated agent in town. Your rental property is one of the biggest financial commitments you'll make in your life, and you want some assurance firstly it is being properly looked after, and secondly that you have some redress if it isn't. 
If you would like to discuss renting your home, come and see us here at Belvoir. We are situated at 200 Northdown road in Cliftonville. Alternatively give us a ring on 01843 293 293.

Tuesday, 26 August 2014

Is the West Cliff area of Ramsgate the place to buy a buy to let?

A couple of weeks ago I had a couple pop their head through the doors of my offices on Northdown road. They live in Canterbury, near the Golf course, and wanted to pick my brains on buying their first buy to let property in Thanet. They were particularly interested in the West Cliff area of Ramsgate, particularly around the football ground.

Therefore, I looked at the area around Southwood road. From January this year, 27 properties have been let with 7 more currently on the market at the moment. The average time it is taking to let a property here (the time between first day of marketing and tenant moving in) is 27 days. This is important for investors to know as they should factor this in to their costs as it would be a month without income. As always it is worth taking into consideration the possible capital growth. I used a property in Hebert road as an example. It sold in April this year for £119,000 (am sure would have been more if the kitchen and bathroom had been modern) and in 2004 it was sold for £80,000 giving a capital growth figure of 48.75%. Sticking with this same property, the likely rent would be in the region of £750 giving a gross yield of 7.5%. With such excellent demand from tenants and excellent amenities surrounding this area (easy to reach bus links, less than a mile to the train station and local shops within walking distance) could this be the right area to purchase your next buy to let investment?

If you are considering buying a property for investment in the near future, as I don't sell property, I am always happy to give you my considered opinion on which property to buy (or not as the case may be) to give you what you want from your investment. If you are a landlord, new or old, I am more than happy for you to pop in and see me or email on gavin.horton@belvoirlettings.com