Parrotts Field in Hoddesdon a Good start in Buy To Let

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With many more people now looking to invest in the Buy to Let market we are often asked where is a good place to purchase their first investment property locally. This question arose recently when a new client came into our offices. The client was looking at Hoddesdon as an area to invest and wanted some advice.

Looking at the local market as a whole, Parrotts Field in Hoddesdon is a great first time purchase for Buy to Let, the properties always rent well in this location and the purchase prices are very good value for money with Studio apartments having been selling for between £103,000 to £115,000 over the last 12 months. Couple that with a rental income of between £525 and £600 per calendar month and you will get a good return.

The properties themselves are generally well built but most importantly of all is the location. Positioned within a stones throw of the Town Centre with its new Morrisons supermarket and easy walking distance to the Main line station Parrotts Field makes an ideal place for tenants looking to rent.

Having delved a little deeper into the statistics of this area it also became apparent that the capital growth has not been bad either with property sold prices increasing by an average of  5% over the last 2 years.  

   

"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”

 

Ideal Buy to Let, No work required, 5% Yield

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Here is an opportunity to purchase an ideal first time "Buy to Let" investment. We've just rented one very similar to this in the same development at £575 pcm but this one could achieve up to £600 pcm. Its been refurbished already so no need to do any work and is very well presented so should rent quickly.

Click the link below to see the full details!

Studio Apartment, Lygean Avenue, Ware £119,995

"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”

The Right Time to Invest

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Just looking through my emails and came across this article that states that levels of tenant demand in the private rented sector (PRS) are at a record high, according to new research.

The latest report from Sequence claims the average monthly rent has increased by four per cent over the past 12 months, with the growing number of people looking to rent a major factor in this.

Stephen Nation, head of lettings for Sequence, stated: "Demand to rent across the UK has reached record highs, with six prospective tenants competing for every available rental property.

"This has caused rents to rise four per cent annually and now accounts for more than a third of the average UK salary."

According to Property Reporter, the lettings expert said the number of buy-to-let mortgages is now at the highest level in 2014 so far and increased 14 per cent year on year in June and 12 per cent since May.

"Change to pension annuities has also encouraged more investors to look to property for their pension pot as house prices and rents continue to rise," Mr Nation stated.

Locally we are finding that tenant demand is very high, particularly with two and three bedroom properties very much in demand and yet there is far less new rental stock becoming available. Therefore this is a perfect time to invest in property.

With average yields locally between 5% & 6% the return on investment is still a lot better than having your money just sitting in the bank and with the right direction you could get it working a lot better for you.

So if you are considering investing in property for the first time or perhaps expanding your portfolio, feel free to give us a call or pop into our High St office, 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”

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

www.propertyfile.co

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