Cheapie 1 bed apartment in Chelmsford

http://www.rightmove.co.uk/property-for-sale/property-31681479.html?premiumA=true

On my Rightmove travels this morning, I noticed this little 1 bed apartment. It is a nice example, nothing too fancy, but it looks to be nicely presented. This area is very popular with tenants as it;s not too far from the city centre and also has easy access to main road links as well. 

It's on the market for £135,000, which doesn't seem too unreasonable and I would expect to be able to achieve in the region of £600 pcm rent. Based on these figures alone, you could be looking at an annual yield of 5.3%. this figure doesn't take into account ground rent or service charges that the property may be subject to.

If you require any advice on where to buy (or not as the case may be), drop me a line or send me an e-mail stephen.frost@martinco.com

Nice 2 bed apartment in Chelmer Village

 

http://www.rightmove.co.uk/property-for-sale/property-32384259.html

Another property has come up in Chelmer Village in one of the more popular roads for tenants. We have rented several of these apartments and they are always popular. A property in this sort of condition, I would expect to rent in the region of £695 pcm. If you looked into updating the kitchen, there is the potential to rent it for a higher figure. At £695 though this would still produce a gross yield of 5.4%

Abbotts have got this on the market for £155,000 and they are doing an open house this weekend. I reckon that there will be an abundance of people that will turn up, so if you are interested, you better be one of them!

Check out past stories on this blog for more market updates and advice

Chelmsford has itchy feet, with more than 3 times the number of people moving than in Braintree or Witham!

A brilliant indicator, which is commonly overlooked, of an area’s property market is the amount of times properties change hands.

There are 69,667 properties in Chelmsford and 16,528 have changed hands in the last 7 years. Our neighbours in Witham may only have 12,875 properties, but of these 3,017 households moved during the last 7 years. This works out as 23.4% of the town’s property market changing hands, which is not too dissimilar to our 23.7%. Having looked at our other neighbouring town Braintree, which has seen 4,537 of 21,203 households change hands, this works out as slightly less with only 21% of properties changing hands. 

Whilst the percentages are all very similar, the numbers speak volumes with over 3 times as many people having moved in the Chelmsford area compared to Braintree, and more than 5 times as many people than Witham.

This shows you must cover every detail from the property to the area’s market before making a decision to buy, be it for yourself or as a buy to let investment.

If you would like to talk to us about buy to let, please feel free to visit our office on Duke Street.

Lovely maisonette in Old Moulsham

http://www.rightmove.co.uk/property-for-sale/Chelmsford.html?sortType=1&maxDaysSinceAdded=7&includeSSTC=true&_includeSSTC=on&index=20

This maisonette is lovely, you can see that the current owners have loved it. you won't need to do anything to it to rent it out from what I can see. 

These maisonette's rent very easily as the area is very popular with professionals due to the close proximity to the City centre. I would expect to rent this for around £800 pcm. Which based on an asking price of  £199,995, not taking into account, any deal you are able to make, this would give you a gross yield of 4.8%.

As you will see from my previous blogs, buying a good investment property, isn't always down to the highest yield you can possibly get, you also have to take into account capital growth and potential void periods. 

This property probably wont be around for long, so I suggest you get down to the selling agents asap