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 bed house, on Cockshutt Lane, sold for £166,000 in 2007. Considering property values are much of those being achieved in 2007, some lucky person picked up a bargain in February, when it sold again for £145,000.
I mentioned in my blog earlier this year that Broseley is a relatively steady market, however there are still some absolute gems out there.
I’ll be posting regular updates on the ever changing property market moving forward, keep an eye for advice and information about the local market.
Whether you’re a landlord of ours or not, drop by our offices if you would like any advice…