VIDEO – Buy To Let Opportunity – 30/3/17

Welcome back. A great 2 Bedroom End Terrace (I said Semi by mistake!) on the market with Your Move at £145,000. These properties are ideal to convert to 2 x 1 Bedroom flats. Though it’ll cost to convert, the end value with increase substantially. Plus you’re more likely to get a 12 month tenancy if its a flat, rather than a room. We’re currently getting £175 pppw for a flat; you’ll get £18,200 (12 month tenancy), meaning your gross yield is around 12.5%!

For more information, hints & tips, please call me on 024 7650 0005.

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

Im am also contactable via email: heenay@newman.uk.com

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

1,006 Properties For Sale in Coventry … is this an issue?

 

 

2017 has started with some positive interest in the Coventry property market.  Taking a snap shot of the Coventry property market for the first quarter of 2017, the picture suggests some interesting trends when it comes to the number of properties available to buy, their asking prices and what prices properties are actually selling for.

 

Let us first consider the number of properties for sale, compared to 12 months ago:

Graph

Type of Coventry Property Number of Properties on the Market 12 months ago Number of Properties on the Market now % change
Detached 294 258 -12%
 
Semi 298 318 +7%
 
Terraced 197 200 +2%
 
Flat 143 167 +17%

 

So when we add in building plots and other types of properties that don’t fit into the four main categories, that means there are 1,006 properties for sale today compared with 1,010 a year ago, a drop of less than 1%.

 

Next, Coventry asking prices, compared to the same as a year ago, are 2% higher.

 

With that in mind, I wanted to look at what property was actually selling for in Coventry. Taking my information from the Land Registry, the last available six months property transactions for CV2 show an interesting picture (note the Land Registry data is always a few months behind due to the nature of the house buying process and so November 2016 is latest set of data). The price shown is the average price paid and the number in brackets is the number of properties actually sold.

 

Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16
Detached £195,880 (5) £206,000 (2) £180,083 (6) £269,900 (5) £195,400 (5) £157,625 (4)
Semi

Detached

£145,807 (13) £164,835 (21) £162,461 (13) £160,927 (21) £142,553 (17) £162,344 (16)
Terraced £141,866 (41) £137,589 (42) £127,051 (48) £138,860 (38) £141,332 (36) £151,583 (36)
Flat £95,020

(5)

£88,938

(8)

£98,165

(3)

£97,063

(8)

£86,707

(7)

£77,800

(5)

All £143,226 (64) £141,969 (73) £136,934 (70) £149,752 (72) £139,927 (65) £148,753 (61)

 

So what does all this mean for the property owning folk of Coventry?

 

Well, with a similar amount of properties on the market as a year ago and asking prices only 2% higher, those trying to sell their property need to be mindful that buyers, be they first timers, buy to let landlords or people moving up the Coventry property ladder, have much more price information about the Coventry property market at their fingertips than ever before.

 

Those Coventry people who are looking to sell their property in 2017, need to be aware of the risks of over pricing their property when initially placing it on the market. Over the last 12 months, I have noticed the approach of a few Coventry estate agents is to suggest an inflated asking price to encourage the homeowner and secure the property to sell on their books. The down side to this is that when offered to the market for the first time, buyers will realise it is overpriced and wont waste their time asking for a brochure. They won’t even view the property, let alone make an offer. So when the price is reduced a few months later, the property has become market stale and continues to be ignored.

 

Whilst the Coventry property-market has an unassailable demand for property – there is one saying that always rings true – as long as the property is being marketed at the right price it will sell.

 

If you want to know if your Coventry property is being marketed at the right price, send me a web link and I will give you my honest opinion.

 

For more information, hints & tips, please call me on 024 7650 0005.

 

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

 

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

 

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

 

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

 

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

 

Im am also contactable via email: heenay@newman.uk.com

 

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

 

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

Tuesday’s Tip’s – Letting Your Property – PART THREE

 

Welcome back to Tuesday’s Tip’s, a prevention rather than cure guide for Landlords wanting to achieve a hassle free tenancy.

When pricing your property:-

Tip 6 – Look in a 1/4 mile radius to find similar comparable properties
Tip 7 – Only pay attention to the pricing of properties which have been Let Agreed
Tip 8 – Try to find out how much the property actually achieved rather than assuming it got the full asking price.
Tip 9 – Note the length of time the properties took to rent.
Tip 10 – Price your property keenly. There’s no point in trying to achieve an extra £25 per month if its going to take you an extra month to achieve it.
It’ll take you a long time to re-coup one months’ lost rent.

Thanks for Watching.

For more information, hints & tips, please call me on 024 7650 0005.

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

Im am also contactable via email: heenay@newman.uk.com

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

Buying for University Students in Coventry

 

Not sure what to buy? Unsure where to buy? Are you aware of the different sub-markets which student tenants are attracted to? Do you know what your competition is offering? Do you know why the market is changing?

 

Contact me on heenay@newman.uk.com or call me on 024 7650 0005 and I’ll send you a FREE 17 PAGE GUIDE based on a seminar it took back in December 2016.

 

Thank You to all of our Landlords who attended and put their faith in us.

 

For more information, hints & tips, please call me on 024 7650 0005.

 

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

 

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

 

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

 

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

 

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

 

Im am also contactable via email: heenay@newman.uk.com

 

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

 

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

‘Flipping’ Heck – Coventry Property Values Rise by £24.82 a day

 

Investing in Coventry buy to let property is different from investing in the stock market or depositing your hard-earned cash in the Building Society. When you invest your money in the Building Society, this is considered by many as the safe option but the returns you can achieve are awfully low (the best 2-year bond rate from Nationwide is a whopping 0.75% a year!). Another investment is the Stock Market, which can give good returns, but unless you are on the phone every day to your Stockbroker, most people invest in stock market funds, making the investment quite hands off and one always has the feeling of not being in control.

However, with buy to let, things can be more hands on. One of the things many landlords like is the tactile nature of property – the fact that you can touch the bricks and mortar. It is this factor that attracts many of Coventry’s landlords – they are making their own decisions rather than entrusting them to city whizz kids in Canary Wharf playing roulette with their savings.

I always say investing in property is a long-term game. When you invest in the property market, you can earn from your investment in two ways. When a property increases in value over time, it is known as ‘capital growth’. Capital growth, also known as capital appreciation, has been strong in recent times in Coventry, but the value of property does go up as well as down just like shares do but the initial purchase price rarely decreases.  Rental income is what the tenant pays you – hopefully this will also grow over time. If you divide the annual rent into the value (or purchase price) of the property, this is your yield, or annual return. So, over the last 5 years, an average Coventry property has risen by £45,300 (equivalent to £24.82 a day), taking it to a current average value of £192,700. Yields range from 5% a year and can reach double digits’ percentages (although to achieve those sorts of returns, the risks are higher).

However, something I haven’t spoken of before is the more specialist area of flipping property to make money. (flipping – buying a property, carrying out some minor cosmetics and re selling it quickly).  I have seen several investors recently who have made decent returns from this strategy. For example …

 

 

 

 

This demonstrates how the Coventry property market has not only provided very strong returns for the average investor over the last five years but how it has permitted a group of motivated buy to let Coventry landlords and investors to become particularly wealthy.

I would add that the above examples are based on a traditional method and you may find it difficult to purchase a property at a low price, as there are still enough first-time-buyers competing with you. However, please call me on 02476 500 005 for more creative ways of flipping properties and achieving even higher returns!

As my article mentioned a few weeks ago, more and more Coventry people may be giving up on owning their own home and are instead accepting long term renting whilst buy to let lending continues to grow from strength to strength.

If you want to know what (and what would not) make a decent buy to let property in Coventry, then one place for such information would be the Coventry Property Blog.

For more information, hints & tips, please call me on 024 7650 0005.

 

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

 

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

 

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

 

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

 

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

 

Im am also contactable via email: heenay@newman.uk.com

 

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

 

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

Tuesday’s Tips – Letting Your Property – PART TWO

 

Welcome back!

Tip 4 – According to research, buyers and tenants decided to take q property within the first 15 seconds of entering the property. Therefore ensure your front garden, door and Hallway is in good condition.

Tip 5 – Make sure any plastics or paintwork which should be coloured white, are in pristine condition including skirting boards, doors and door frames, window frames, electric sockets, light switches and even boiler covers.

***The research went on to uncover that the remainder of the viewing was spent either confirming that applicants really did trust their gut-feeling as well as pick fault with the property, to help negotiate the price down***

For more information, hints & tips, please call me on 024 7650 0005.

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

Im am also contactable via email: heenay@newman.uk.com

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

VIDEO – Buy To Let Opportunity – 20/3/17

 

 

This three bedroom semi detached house is current on the market with Merrick Binch at offers in excess of £200k. You could add value, due to its price and condition. Its also rare to find a semi with side garage in this part of Cheylesmore. The thing which was of real interest is if you could change the plans from creating a 4/5 bedroom house, to incorporate a 1 bedroom flat. This would receive around £550 pcm, on top of the £900 pcm (maybe £950 pcm) to give you an awesome yield.

For more information, hints & tips, please call me on 024 7650 0005.

For more b2l opportunities please follow me on twitter: @CovBuy2Lets

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

For visual idea’s, please isit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

Please subscribe to my Youtube channel: Coventry Property TV which can be found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

Im am also contactable via email: heenay@newman.uk.com

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

How The Rented Sector Has Transformed The Property Market In Coventry

 

The Coventry housing market has gone through a sea change in the past decades with the Buy-to-Let (B-T-L) sector evolving as a key trend, for both Coventry tenants and Coventry landlords.

 

A few weeks ago, the Government released a White Paper on housing. I have had a chance now to digest the report and wish to offer my thoughts on the topic. It was interesting that the private rental sector played a major part in the future plans for housing. This is especially important for our growing Coventry population.

Graph

In 1981, the population of Coventry stood at 319,000 and today it stands at 345,500.

 

Currently, the private rented (B-T-L) sector accounts for 20.5% of households in the city.  The Government want to assist people living in the houses and help the economy by encouraging the provision of quality homes, in a housing sector that has grown due to worldwide economic forces, pushing home ownership out of the reach of more and more people. Interestingly, when we look at the 1981 figures for home-ownership, a different story is told.

 

66.38% Coventry people owned their own home in 1981

25.39% Coventry people rented from the Council or Housing Association in 1981

and 8.23% Coventry rented from a Private Landlord

 

The significance of a suitable housing policy is vital to ensure suitable economic activity and create a vibrant place people want to live in. With the population of Coventry set to grow to 439,000 by 2037 – it is imperative that Coventry City Council and Central Government all work actively together to ensure the residential property market doesn’t hold the area back, by encouraging the building and provision of quality homes for its inhabitants.

 

One idea the Government has proclaimed is a variety of measures aimed at encouraging the Build-to-Rent (B-T-R) sector (instead of the B-T-L sector). These include allowing local authorities to proactively plan for B-T-R schemes, and making it simpler for B-T-R developers to offer inexpensive private rented homes.

 

To do this, the government will invent a distinct affordable housing class for B-T-R, called ‘Affordable Private Rent’, which will oblige new homes builders to provide at least 1 in 5 of a new home developments at a 20% discount on open-market rents and three year tenancies for tenants. In return, the new homebuilders will get better planning assurances.

 

Private landlords will not be expected to offer discounts, nor offer 3-year tenancies – but it is something Coventry landlords need to be aware of as there will be greater competition for tenants.

 

Over the last ten years, home ownership has not been a primary goal for young adults as the world has changed. These youngsters expect ‘on demand’ services from click and collect, Amazon, Dating Apps and TV with the likes of Netflix. Many Coventry youngsters see that renting more than meets their accommodation needs, as it combines the freedom from a lifetime of property maintenance and financial obligations, making it an attractive lifestyle option.

 

Private rented housing in Coventry, be it B-T-L or B-T-R, has the prospective to play a very positive role.

 

For more information, hints & tips, please call me on 024 7650 0005.

 

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

 

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

 

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

 

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

 

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

 

Im am also contactable via email: heenay@newman.uk.com

 

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

 

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

Video

NEW – Tuesday’s Tip’s – Letting Your Property – Part One

Welcome back to Tuesday’s Tip’s – Prevention rather than Cure Guide for existing Landlords wanting a prosperous tenancy.

Tip 1 – Assuming you’ve got an existing tenant giving Notice to Quit, start marketing the property immediately – time is money!
Tip 2 – If there are any minor works which will need to be done before the next tenancy starts, make sure you Guarantee the works will be done to a high standard during viewings, to your applicants (potential tenants)
Tip 3 – Incentivise your current tenant to co-operate when viewings are being arranged. Offer a financial reward if you are able to Agree a Let before the tenant moves out.

Please check back next week for Letting Your Property – Part Two!

Thanks For Watching

For more information, hints & tips, please call me on 024 7650 0005.

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

Im am also contactable via email: heenay@newman.uk.com

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.

NEW – Tuesday’s Tips! Prevention rather than Cure Guide for Existing Landlords.

 

Being a Lettings Agents, you can imagine the wide variety of questions that I get asked by existing Landlords; “This has happened, so what can I do?” type of questions.

The under-lying issue is that the Landlords are trying to find a cure for the problem, rather than preventing it from happening in the first place.

Tuesday’s Tip’s will be a series of weekly video’s he help you experience a positive let, whilst trying to prevent problems occuring in the first place.

If you have a rental property and are considering suing a managing agent, please call me on 02476500005.

Thanks For Watching!

For more information, hints & tips, please call me on 024 7650 0005.

Please subscribe to my new YouTube channel; Coventry Property TV found at https://www.youtube.com/channel/UCRxB2n1Kh-5XwOOpHC4yDTg

If you would like to save time and want me to source the whole market and all agents to bring you the best buy to let opportunities, please follow me on twitter: @CovBuy2Lets

For my comments on Coventry’s Property Market, please visit CoventryPropertyMarket.co.uk

For visual idea’s, please visit my boards on Pinterest: uk.pinterest.com/CovBuy2Lets/

My office is located at 2 Greyfriars Court, Greyfriars Road, Coventry, CV1 3RY

Im am also contactable via email: heenay@newman.uk.com

REMEMBER We are also located in Southam, Leamington Spa and Rugby.

We are experienced in Lettings, Property Management, Block Management, Portfolio Management, Sales and Financial Services.