July 20, 2015

Last week, one of our portfolio landlords came in the office to discuss the rising property values in Telford. He owns a varied portfolio of rental properties, primarily in Telford. With our guidance this particular landlord invested in his first buy to let property in Telford just over 3 years ago, a ground floor apartment in Telford. Since then, he’s added several properties including a semi-detached and a terraced house.

We got chatting and I expressed the fact that I felt we hadn’t really seen a drastic boom in property prices for a good few years. Shropshire is a relatively settled and consistent market and I thought it would be beneficial to research growth over a 3 year period, the time that had passed since this landlord purchased his first buy to let.

So, let’s get to the interesting stuff…...

June 10, 2015

After the shock to so many of the Conservatives returning to power with a majority at Westminster, all the potential issues and possible uncertainties of a hung parliament has lifted the cloud from the Telford property market. Talking to other agents and solicitors at the recent ARLA event in Stafford, there are signs that the market is picking back up following a subdued six months. Every 5 years we suffer a degree of political uncertainty ahead of the General Election which naturally slows the property market.

Labour’s election promises of rent controls and three year tenancies, did cause buy to let landlords to be vigilant, to wait and see how these new policies would be implemented before they commit themselves to buying more property for their buy-to-let portfolio. Now that uncertainty has bee...

May 20, 2015

With the new Taylor Wimpey site (Haycop Rise) in view out of our office window, it got me thinking…. what’s needed in this town? Looking on the various local social media sites, some say we need more affordable housing others say family homes, very few say rented accommodation. Whilst we’re a nation who believe in owning your own home, there’s still a huge demand for quality rental accommodation. On the last count in 2011, there were just 349 private rented properties in Broseley! That’s just 14% of the total number of homes in the town.

As a qualified mortgage adviser, I am fully aware of price to earnings ratios. The average purchase price in Broseley is £171,200 (according to mouseprice.com), and the average salary in Broseley is £20,964. Price to earnings ratios are effective measures of the re...

May 8, 2015

I was talking to one of our landlords last week, when they suggested there were no property bargains for them to buy in Broseley. We don’t sell property and don’t charge for our advice, but we can give impartial advice without any conflict of interest to our landlords. Here’s what I discovered recently about finding bargains that I had found over the last few months.

A 2 bed terrace sold on Ironbridge Road in 2006 for £156,000. In January 2015, the same property sold again for £105,000, a drop in value of 32.69%! When you take in to consideration this property could achieve a 6.5% yield, with very little work to do, not a bad little investment. A 2 bed on Speeds Lane, sold for £139,500 in December 14. Just 4 years before, it sold for £147,500, these are excellent value properties.

Finally, a nice 3...

May 7, 2015

I had an interesting chat to a first time landlord earlier this week in our office in Broseley. Having read our previous blog post “Could a buy to let be your nest egg”, he wanted my opinion on the market, and more importantly, why he should consider buy-to-let and where to buy exactly. Knowing the different areas in and around Telford allows me to easily weigh up hotspots in the rental market and show potential landlords where there could be a good opportunity.

It became apparent that due to the nature of this landlord’s job, he didn’t want a property too onerous, in an area he was comfortable with, and with a return that would “wash its face” or in laymen’s terms, cover its costs! So, after a good chat, we settled on Lawley Bank/ Dawley Bank – an area he had once lived with a good choice of prope...

February 1, 2015

Since opening 5 years ago, we’ve seen a shift in the type of landlord with a buy to let investment. Typically, people expect a buy to let landlord to own a portfolio of properties, with vast amounts of experience in property and finance. But interestingly, we’ve found a new type of landlord, someone dipping their toes in to the water, looking for something to run alongside their pension.

Dwindling pension funds and poor returns of savings has helped the buy to let market boom! Low mortgage rates combined with affordable housing is making the daunting step to become a landlord that little bit easier.

Despite the ups and downs, property is relatively consistent and we’re fortunate that our stunning county, Shropshire, has not seen the drastic price crash that the North East has suffered, or the extrem...

January 20, 2015

Broseley. A fantastic place to live, there’s great bars, cafes and restaurants, a fantastic butchers, a fine grocer, gift shops, playgrounds, good schools and a great community spirit. Being Broseley born and bred, naturally I am somewhat biased towards the town, but if I take a step back and put my property market hat on, this place inspires me in every sense.

Focusing on 3 bedroom properties, 2014 saw on average a sale price of £155,000 and an average rent of £650 per month. Landlords who purchased in 2014, would have achieved a 4.8% gross rental yield. Although 4.8% is arguably very average in terms of property investment, what’s astounding is the huge demand shown by prospective tenants to be in this fantastic town.

During one week in December 2014, arguably the quietest week in the property mar...

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Ellie Garbett
Property Expert
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Combining great communication skills with an eye for detail, Ellie is a licensed ARLA letting agent and a qualified book-keeper. As a landlord herself, Ellie knows what both landlords and tenants want from the local property market. 

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