Is Plomer Avenue in Hoddesdon on the up?

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A landlord recently missed his chance to buy a two bedroom apartment on Plomer Avenue, near the 100 acre estate off the Ware Road, as it sold in a matter of days. He asked me if there were something special about the area, so I did a little research.

Plomer Avenue is the main road leading through the Boundary Park Estate off Ware Road in Hoddesdon which was built around 10 years ago. It consists mainly of two bedroom apartments and some two bed terraced houses. The road leads onto Christian Close which comprises large town houses and onto Ellis Close & Gosse Close which consists of some very nice 4 and 5 bedroom detached houses. 

A number of two bedroom apartments have sold in Plomer Avenue over the last 12 months with an average price of £148,500 and as they are relatively new it should not take a lot to prepare one for rental. Expect to achieve £800 per calendar month, which would provide a very reasonable annual yield of around 6.5%. The two 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 made with double glazed windows, 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 with low costs.

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”

Buy To Let in Stanstead Abbotts

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A couple of weeks ago we had a couple pop their head through the doors of my offices on the High Street in Stanstead Abbotts. They live in Lawrence Avenue in the Village by the River and wanted to pick my brains on buying their first buy to let property in the area. They were particularly interested in the The Granary or Sanville Gardens on the approach to the Village from Hoddesdon and gave me an idea of the budget they had in mind.

This set me about a very interesting task of looking at the type of properties they would get for there investment, the yield they would acheive and most importantly the potential "Void" periods that may reduce there yearly return.

I looked at the area as a whole and not just the two specific developments they had shown interest in and this is the information that I found.

Of the properties that were available on the sales market at the time three had the potential to be good buy to lets, one in the area they had initially looked at, one in Lee Close a bit nearer to where they were located and one in River Meads by St Margarets station. Surprisingly the Sanville Gardens property seemed the least attractive proposotion as the asking price was considerably higher than that of the others and the evidence found on the rental income achieved for these properties showed that the "Yield" would be nearly 1% less. 

But what about demand from tenants? Looking back at the previous three months of apartments on the the market for rent and the time in which they took to let 75% of the properties were taken within three weeks of initial marketing which proves that, marketed at the right price and presented in the right way, these properties are always in demand. With such excellent demand from tenants, could this be the right area to purchase your next buy to let investment? 

Therefore, if you are considering buying a property for investment in the near future, I am always happy to give you my considered opinion on which property to buy (or not as the case may be) even ones on the market with other agents so if you are a landlord, new or old, I am more than happy for you to pop in and see me or email on adrian@propertyfile.org

"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”

Potential to Improve and increase Yield

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Heres a property that has just recently come onto the market and would make an ideal first time buy-to-let. 

Located in the very sought after location of River Meads in Stanstead Abbotts this is a large Studio apartment on the top floor with views across the river. Currently Let at £550 per calendar month this could easily achieve a higher rental figure with a bit of TLC and has the potential for converting to a one bedroom apartment with a bit of thought and investment.

The great thing about this property is that it has already had the lease extended and so has nearly 200 years left, therefore great as a long term investment safe in the knowledge that reselling with a short lease wont be a problem.

With the right refurbishment expect to achieve £650 per calendar month as a large studio in this location.  For further information or if you just want a general chat about the local Buy-To-Let market come into our offices in Stantead Abbotts High Street and we will be glad to help. 

          

 Click the link below to see the full details!

Loft Space Studio Apartment - Stanstead Abbotts - £129,995

"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”

Two Bedroom House, low Voids and 4.75% Yield

 www.propertyfile.co

Just come onto the market is this lovely two bedroom house in a very desirable "Village" location. These properties are well sought after in the rental market and therefore the all important "Void" periods should be very low. The Yield is not as high as other investments locally but you can expect a good capital growth over the medium to long term and so couple that with regular rental income this makes an ideal investment property if your looking for something a bit different from a one or two bed apartment. Expect to achieve around £950 per calendar month with most applicants looking to rent medium to long term.

 

Click the link below to see the full details!

 Two Bedroom House, Lovely Location £242,500

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

o

           
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”


 
Adrian Fallart - Director - Property File

Local Buy-to-Let a Good option

www.propertyfile.co

There are a number of reasons why many people see buy-to-let as a good medium term option: Nationally there’s a shortage of housing and unless we start building on a massive scale, it’s only going to get bigger. People’s lifestyles are changing so more people live alone, or in smaller family units, which only increases this demand. Pensions don’t seem to be delivering as they used to so people are looking for other ways to fund their later life. Buy To Let locally is increasing with a number of people ploughing in on a monthly basis.

The long term demographics of Hoddesdon, Hertford, Ware and surrounding areas make buy-to-let investment here an attractive option. The towns are well established and conveniently situated for commuters, the train stations get people into London within 40 minutes and the road links are good for commuting to other major Towns. The returns are favourable too with average "Yields" on investment of around 6% and more importantly the void periods are generally low. 

There’s a fair amount of decent employers here too with GSK & Merck Sharp & Dohme each employing a considerable number of people. The schools, especially John Warner, Richard Hale and Presdales are huge magnets to the town and people shouldn't underestimate the importance of them.

A diverse town such as these gives rise to a number of investment options too. There’s been a lot of property built in the last 10 years, which is always popular with tenants, such as Stanstead Abbotts, Hoddesdon and Ware. There’s a solid Victorian Terrace market, the staple rental territory of many UK towns. Equally, we have large areas of ex Local Authority properties which offer high yields and enjoy constant tenant demand.

Prices are reasonable too,Two bed houses are the bread and butter of any rental market and these range from about £180k in some areas to £250k in others. For £100k to £150k you'll get something very rentable in an area you feel comfortable with.

In short ...  the long term prospects for Buy-to-let in Hoddesdon, Hertford and Ware are very good

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

o

           
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”


 
Adrian Fallart - Director - Property File