Lack of affordability of local housing means good rental opportunities.................

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Following on from our recent articles on the right time to invest in the local property market we had a client come into our office to discuss their first Buy To Let. Their main concern was is it still a good time to buy property for rental purposes and is the demand still strong in the local area. 

The best way to judge this is to look at the affordability of local housing by simply finding the average property price and comparing to the average salary, the higher the ratio the less affordable property is and therefore the more likely that people will rent rather than buy.

To test this we found that Hoddesdon currently has an average property value of £302,000 and with the average salary quoted as £35,100 pa. This is a ratio of 1 to 8.6. Meaning a Mortgage of over 8 x salary and a deposit of over £15,000 would be required. 

With Mortgages being harder to obtain than in previous times and the amount of high deposits needed to proceed with a property purchase, for many people renting is continuing to be a very good option and this trend is likely to continue. Therefore it would stand to reason that for those with the means to be able to "Buy To Let" now is a good time.    

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"Your local property experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”

 

Stanstead Abbotts Property Prices............

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Had a quiet moment in the office and checked out some Interesting statistics for property sales in Stanstead Abbotts over the last 12 months.

Most sold were apartments with an average price of £169,564. Terraced properties had an average sold price of £269,999 and semi-detached properties averaged at £368,406. 

Surprisingly there has only been 8 detached houses sold in the same period with an average price of £662,500 although this was mainly bumped up with one property being sold for £1.7 million!

If you have a property that your are considering selling in Stanstead Abbotts or any of the surrounding areas drop into our High Street office and we can discuss your options. 

"Your local property experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”

 

Needs Updating, potential Yield of around 5.5%, good capital growth

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In need of updating there is potential here for a an investor to make a good "Yield" and capital growth. 

On the market at £300,000 you will need to spend some cash but once complete you can expect a monthly rental of £1400 to £1500 per calendar month which is a yield of around 5.5% as long as you control the spending.

Located in a good position within close proximity to the local School and not far from the High Street this is an ideal rental for a family looking to move to the village with its great facilities and commuting options. 

If your interested in Buy to Let and want some free advice why not drop into our High Street office and speak to your local property experts.

 

4 Bedroom House, Needs updating, £299,995 

"Your local lettings experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”

 

4.5% Yeild, Low Voids & Ready to Rent

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Offered chain free and ready to rent, this property is located in the High Street of Stanstead Abbotts in close proximity to the train station so good option for tenants looking for an easy commute. We currently rent a very similar property in the same block and it has a great record of low void periods and low maintenance. Expect to achieve a rental of around £600 per calendar month which will return a "yield" of 4.5%, still better than cash in the bank with the future capital growth a good bonus.   
 

 

One Bedroom Apartment, Stanstead Abbotts, £134,995

"Your local lettings experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”

 

Stanstead Abbotts Property Values Increase by £519 per Week...

 www.propertyfile.co

Last week a local resident came into our offices in Stanstead Abbotts High  Street to discuss the rising property values in the area.  He owns  a varied portfolio in Hoddesdon Stanstead Abbotts and Ware so it was interesting to compare the increase in property values around. 

Over the last 12 months, in Stanstead Abbotts, average property values have risen from £330,700 to £357,700 a rise of £27,000 or over £519 per week. When we look at some of the surrounding areas, Ware has had an increase from an average property value of £359,000 to £388,000 which is an increase of £557 per week and Hoddesdon has the had an increase in average property values from £269,000 to £302,000 which equates to £33,000 or  £634 per week.

This gets even more interesting when you break down the increase into percentages as both Ware and Stanstead Abbotts, although the amount  slightly differs, have both had an increase of a little over 8.1% over the same 12 month period, a figure which is in line with the national average, but Hoddesdon has had an increase of over 12.3%, That's a third more in percentage terms but the actual average value still  remains considerably less than it is in Ware and Stanstead Abbotts. 

When considering the Landlords next purchase these figures are a good indication of where to invest. It shows that in both Stanstead Abbotts and Ware the growth is steady but your initial purchase price may be higher than that of Hoddesdon where you are likely to get good value for money with the opportunity of better capital growth, however the rentals achieved may well be higher in Stanstead Abbotts and Ware.

If you are looking to invest in the local area and are looking for some free advice just give us a call or drop into our offices and we will steer you in the right direction.     

Source—Zoopla ZED index    

"Your local lettings experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”

 

River Meads, Ready to Rent!

www.propertyfile.co

Here is a lovely example of a two bedroom apartment on the market in River Meads, Stanstead Abbotts. Very well presented so no need to spend any large amounts of money to get it ready to let. Expect to achieve a rental of around £850 to £900 per calendar month.

Click on the link below to see the full specification and if you would like any more unbiased advice please feel free to get in touch.

2 Bedroom Apartment, River Meads, Stanstead Abbotts - £189,995 

"Your local lettings experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”

River Meads, Stanstead Abbotts a Strong Investment.....

www.propertyfile.co

Having recently let several properties in River Meads, Stanstead Abbotts we were approached by some new investors looking to Buy To Let in the area and was asked if this is still a good investment option. 

River Meads is a large development located between the River Lea and St Margarets station. It consists mainly of one & two bedroom apartments with some two bed terraced houses and is ideal for rental due to the close proximity of the station and picturesque setting.

A number of one bedroom apartments have sold in River Meads over the last 12 months with an average price of £147,500. Expect to achieve around £700 per calendar month, which would provide a very reasonable annual yield of 6.0%. The one bedroom apartments will start to increase in value over the next twelve months and so it may be prudent to buy now should one become available at the right price, even paying slightly higher than the last 12 months average should still return a good yield and with the area in strong demand from tenants the all important "Void" periods will be low. 

The apartments themselves are well built and the grounds well maintained, electric storage heaters and modern open plan living and therefore make for a great Buy -To- Let as they rent well and should be relatively easy to maintain.

If you would like to talk to us about property in this or any of the other areas we cover  please feel free to visit our office on Stanstead Abbotts High Street and we will be glad to help. 

"Your local lettings experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”

Ready to Rent, fully Furnished, Low Voids

www.propertyfile.co

Just come onto the market this ready to rent, 1 bedroom apartment in a prime location. Vendor will sell fully furnished so nothing to do just get a tenant. Expect a rental of £700 pcm.   

                           

1 Bed Apartment, River Meads, £150,995 

Your local lettings experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”

Quick renting property, good location and 5% Yield

www.propertyfile.co 


Here is a nice property for "Buy To Let".  Located in Wheatsheaf Drive Ware, on a housing development off of Westmill Road, is a first floor maisonette with allocated parking. Well presented so no need to spend any large amounts of money to bring up to standard. 

This area always rents well with easy access to Ware town centre and not far to travel to the train station. You should expect achieve a monthly rental of between £700 and £750 per calendar month and so the Yield will be at least 5% and with the added benefit of relatively low maintenance charges its a good deal.

If you are looking to invest in the property market and need a bit of advice drop into our High Street office in Stanstead Abbotts and we will be glad to help.

   

Click the link below to see the full details!

1 Bedroom Maisonette, Ware, £139,995

Your local lettings experts, our advice is free but our knowledge is priceless" 

           
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”