This property is new to the market and came online just a few days ago. The two bedroom semi-detached house needs a full program of refurbishment however it is priced to reflect this.
Once renovated, you could look to receive a rental figure of around £650.00 per calendar month, which is a project yield of over 8% on the initial purchase price. Taking into account the cost to renovate, you would still expect a yield of well over 6%.
The property is on the market with Spencer Harvey and can be found on Rightmove HERE.
If you would like any advice or to talk further about buy to let investments give me a call on 0161 443 4022.
Want to know how in demand properties in a given area are? Occupancy is a useful indicator for demand, as well as illustrating how spacious or cosy properties are in the local area. In SK5, 37.2 per cent of properties have two or more extra rooms and 30.4 per cent have one extra room.
With increasing clarity from the government, the housing market is returning to it’s usual stride. Looking at quarter-on-quarter price data in SK5, we can see that the average sold prices of flats is up 36.0 per cent since the last quarter of 2015.
New housing is a hotly debated subject in the UK. Despite the recent uptick in building rates, demand continues to outstrip supply and more affordable homes need to be built. The situation has improved over the last few years; the number of new homes started and finished in the UK is at a nine-year high. However, forecasts show that England alone needs to build 50 per cent more homes to keep up with demand, so the issue is far from resolved. The pressure is mounting on the government to find a solution.
156,140 new homes were registered for construction in 2015, the highest it has been in eight years. This was half a per cent higher than the previous year and 45 per cent higher than 2009.
From 2014 to 2015, private sector starts increased by seven per cent, while Housing Association starts rose by five per cent. That means that since the credit crunch in 2008, the UK housing stock has grown by around five percent, which is no small feat.