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

www.propertyfile.co

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”