The Milton Keynes Property Blog: August 2015

Friday 28 August 2015

Furzton 1 bed maisonette, £130k with 6.2% gross yield possible

This maisonette that we are talking about today would really suit the entry level market, particularly appealing to youngsters just out of University or a young couple starting out in their first home.

With an asking price of £130k, it could really do with UPVC windows being fitted to update the wooden single glazing, and some decorative updates here and there which would add around £5k to your costs - even so, if rented today at around £675 PCM this would still give a yield of between 6.0 - 6.2% which is very good in Milton Keynes at this time. Demand is high for such properties, and with this having its own private garden as well, it won't hang around for long. Last month there were 73,932 searches which would have put this property in front of applicants, so you can see the high number of people chasing this every month.

http://www.rightmove.co.uk/property-for-sale/property-54283202.html

If you really can't find what you are looking for on the property rental market and need a little help finding gems like the one above, speak to us about how we can keep you appraised of the latest opportunities before the rest of the pack. For more information about other potential investment properties that we could introduce you to (such as ready tenanted properties for sale by our existing landlords), or to ask about our thoughts on your own investment choices, call us now on 01908 562582 or send us an email.

miltonkeynes.enquiries@belvoirlettings.com

Thursday 27 August 2015

Bletchley 3 bed already refurbished, reduced to £200k with 5.4% yield

If you want a property that has already been recently (and fully) refurbished, this could be the one for you.....

On the market now at a reduced price of £200k, this typical 3 bed terraced house looks like all the pain of bringing it up to speed has been dealt with by the current owner, so although you won't be able to add much value yourself, it should be relatively easy to own and rent out for the next 5-7 years or so. It is finished in completely appropriate condition for the rental market, having neutral colours, laminate floors downstairs, a modern kitchen and bathroom and full UPVC double glazing. The asking price clearly reflects this high level of work, and to be honest it's a fair price - on the rental market today, we would be asking £895-925 PCM which is a yield of 5.4-5.6%, not bad when you don't have anything else you have to do here.

How about some internal shots to whet your appetite?

Want to see some more? Please contact the vendor through this link:

http://www.rightmove.co.uk/property-for-sale/property-35630754.html

miltonkeynes.enquiries@belvoirlettings.com

Wednesday 26 August 2015

Wolverton 3 bed Victorian terrace, £190k with around 6.3% yield

This has al the hallmarks of being a refurbishment project if you read between the lines - just one external photo, below market value and sold with no upper chain. Intrigued? Then read on...

These houses in Wolverton are spacious and there is good demand for them locally, being located in the centre of town with schools and shops on the doorstep, yet with a garage set within the rear garden, so parking need not be such a big problem at this house. With UPVC windows already fitted along with gas central heating, the major improvements seem to have been taken care of, but I do wonder if it needs a full redecoration or some modernisation internally, so do get along and check this for yourself. In reasonably modern condition, with clean, newly painted walls, we would rent this for £995 PCM right now, so with an asking price of around £190k that would give the new owner a 6.3% yield. Even if you had to spend £10k on bringing it up to scratch, you would still see a yield of 6% which for the local market is a really good return.

http://www.rightmove.co.uk/property-for-sale/property-36038286.html

miltonkeynes.enquiries@belvoirlettings.com

Tuesday 25 August 2015

Oldbrook superb 1 bed house £150k, 5.4% yield with huge demand for this

These 1 bed starter houses are always popular amongst young professionals, and today we have one within sight and short walking distance of both the city centre and the train station.

With its own rear garden, a spacious bedroom and bathroom, this represents decent value for money, and would have enduring appeal for years to come due to its central location and the space it offers internally. In the last month, there were 1790 searches for a property such as this on Oldbrook alone - city wide, there were 76,749 results that would have put this property in front of prospective tenants, so you can see how high demand is for a small starter home. On the rental market today, we would happily ask £675 PCM for this, if not a little more if it was painted throughout and brought a little more up to date internally, so a return of at least 5.4% is achievable here.

http://www.zoopla.co.uk/for-sale/details/37791126?search_identifier=375eba050e7bdcbb4f38a2811294e948#qcbSAfCtAwr58TG1.97

miltonkeynes.enquiries@belvoirlettings.com

Thursday 20 August 2015

Bletchley great value 3 bed terrace, £185k with 5.5% yield

This just appeared on the market, and is also available to let at the same time, so either the owner doesn't know what to do for the best or they need the rental income from it until it sells.

So what we have here is a 3 bed terraced house, there is just the 1 photo so please do go and have a look at the condition for yourself, but at £185k there is still some money left in this one, possibly as a 'quick flip' or as a longer term let when tidied up. Tentatively I would suggest a rental value of around £850 PCM at the moment, but having not seen anything of the inside of this property I can't yet comment on the style, cleanliness or age, so this could well be revised upwards subject to it being prepared to a good, modern standard.

http://www.rightmove.co.uk/property-for-sale/property-54093149.html

miltonkeynes.enquiries@belvoirlettings.com

Wednesday 19 August 2015

Project time - West Bletchley 3 bed needing full refurb, £180k with 6% yield

Another West Bletchley refurbishment project appeared on the market today, at a great price of £180k, you may need to put £10-15k into this but then you would have a completely modernised and sorted rental property, ready to let for the next 10 years without any major issues.

Now when I say a project, I mean a FULL refurbishment - new kitchen, bathroom, flooring, full redecoration and possibly skim the walls, look at the electric and gas while the house is tripped bare. In fairness, the boiler does look like a fairly recent replacement, the windows are mostly UPVC double glazed with just a few of the older aluminium framed doors needing attention, and the front & rear gardens just need a spruce up at the end.

Offered for sale today at £180k, I would allow for around £10-15k to cover all the works necessary, but of course you could put in the hours (well, it would be more like weeks!) yourself to keep the costs down and just use certified tradesmen for the absolutely essential tasks, in which case you could achieve close to 6% yield if this was ultimately rented at £895 PCM. Even if your total spend was £190k, a yield of 5.7% is still possible, but of course all your expenditure would the be taken care of and it should pretty much just tick over for the next 5-8 years without any bother.

http://www.rightmove.co.uk/property-for-sale/property-54151355.html

miltonkeynes.enquiries@belvoirlettings.com

Monday 17 August 2015

Bletchley possible project, £200k with 6% or greater yield

Sometimes we see properties advertised at what appears to be well under market value. Now nobody wants to give something away for nothing, so try to find out if this one could be a gem or could be a horror story.....

In a fairly ordinary part of a West Bletchley estate is this 4 bed semi. Looking at the external photos it tells me that it hasn't been cared for, or has been vacant for rather a long time. Now even if this took some capital expenditure to get it up to speed, it would still make a nice family home, and with the train station within walking distance it has a broad appeal. Even if your total spend on this reaches £220k with renovations, you would still see a 5.7% yield, but of course if you can get away without such a spend then the yield is likely to be well over 6%, which is amazing in the strong market conditions right now. Click the link below and have a look for yourself:

http://www.zoopla.co.uk/for-sale/details/37650264?search_identifier=a7d6421c587357b0bc6998751ac88529#38frJwsLvEe7HhY2.97

miltonkeynes.enquiries@belvoirlettings.com

Friday 14 August 2015

Stratford Park, Wolverton - 2 bed modern apartment for £170k, 5.8% gross yield

As regular readers will know, Wolverton is becoming more and more popular these days and our blog on 22nd May explained why, so have a look here if you want to do some homework.

So how about this lovely, modern 2 double bedroom apartment which is a little over 2 years old from new? It is superbly appointed inside with a beautiful kitchen and bathroom, clean neutral colours throughout and allocated parking in a secure, gated residents carpark.

Offered for sale at £170k, we would be able to offer this for rental today at around £825 PCM which represents a healthy 5.8% gross yield. Having easily let a neighbouring property in Addington Avenue earlier this spring, we know this would appeal to young professionals, either 2 friends sharing or a young couple starting out in their first home, and demand would be high from this demographic, as they can also walk to the train station to commute to London or drive quite easily into Central Milton Keynes. Looking at the photos, this looks like it needs virtually no work before being let out, so it's not as if this will be a money pit or a long term drain on resources, but do enquire as to the details of the lease and annual standing charges.

http://www.rightmove.co.uk/property-for-sale/property-51125842.html

miltonkeynes.enquiries@belvoirlettings.com

Wednesday 12 August 2015

Kents Hill starter 2 bed house, £175k with 5.5% gross yield

This property should be very familiar to us, as we already manage 2 others in this terrace and at one point managed another as well.

A pretty little 2 bed starter home on Kents Hill, it only has a communal garden but what a great proposition this is, and freehold as well. Offered for sale today at £175k with most of the important work already taken care of, this represents a decent opportunity to acquire a very popular type of property in a decent area, serving employees of The Open University, Red Bull Racing and is a fantastic base for a London commuter, with quick and easy access to the M1 motorway.

The rental market for such a property is very strong, with continual high demand for this size and price of house, and today we would market this at around £795 PCM, a 5.5% yield, very good in this strong market. It also would have a very long term future, being located on a family friendly estate with all amenities on the doorstep, there will not be a problem finding tenants for this over the coming years.

http://www.rightmove.co.uk/property-for-sale/property-53722511.html

miltonkeynes.enquiries@belvoirlettings.com

Tuesday 11 August 2015

Early Victorian cottage on Simpson Road, £180k with 5.3% yield

If you look hard enough, there are some real gems out there hidden amongst the plethora of bland vanilla boxes on modern estates, and today we have one such example....

A lovely example of an early Victorian terraced cottage, this 2 bed property has a beautifully modern interior with central heating, a light airy feel and a clean and simple decorative style. Located just on the edge of Fenny Stratford and Bletchley, yet with a charming village feel about it, this is up for sale at just under £180k, and we would suggest a rental value of at least £800 to £825 PCM, giving a yield of at least 5.3% rising to 5.5%. The appeal here is that a young family or a couple could have something a little different to live in, yet with all expected mod cons, and it would certainly sit well against its peers as something different and attractive - we think this in itself adds to the asking price, and from the right person you may even be able to command a higher rental price.

http://www.rightmove.co.uk/property-for-sale/property-35817297.html

miltonkeynes.enquiries@belvoirlettings.com

Monday 10 August 2015

Bargain alert! Medbourne 2 bed apartment £140k, potential gross yield 6.8%

Well what a great way to start the new week, with what appears to be an absolute bargain 2 bedroom apartment in a nice, quiet location.

For sale today at the incredible price of £140k, this great little apartment would be very sought after by some of the many employees of Santander on Shenley wood, or possibly a teacher at one of the 3-4 fantastic local schools, so you would get a young professional person or couple who are looking for a modern property with minimum fuss. We would be happy to offer this on the rental market right now for around £795 PCM subject to seeing the internal condition and specification, but if it achieved that rent you could enjoy a gross yield of around 6.8% which is fantastic in the current climate. Don't delay and get along to see this as soon as you can, it won't hang around for long and someone else will be enjoying the rewards.

http://www.rightmove.co.uk/property-for-sale/property-51086971.html

miltonkeynes.enquiries@belvoirlettings.com

Thursday 6 August 2015

Stunning! 2 bed flat on the river in Newport Pagnell, just £160k with 6% gross yield

Today's offering represents real value for money and there will be no delay in someone snapping this up - a riverside 2 bedroom apartment with secure parking and a high spec interior is certainly not to be missed.

For sale today at £160k for this 2 bedroom apartment (yes, £160k for 2 bedrooms), we could put this virtually straight back onto the rental market and achieve around £800 PCM for this, if not a little more. The only thing preventing me from stating a higher value is the size of bedroom 2, and the fact it has just the one bathroom (but very nice all the same) which means it pretty much excludes the professional sharing market, unless they were happy to be a little cosy. The location is just fantastic, being within a few hundred metres of Newport Pagnell town centre and its shops & bars, and yet close enough for commuters to hit the M1 motorway within 5-10 minutes.

http://www.rightmove.co.uk/property-for-sale/property-48887056.html

If you can't find what you are looking for on the property rental market and need a little help finding those gems, speak to us about how we can keep you appraised of the latest opportunities before the rest of the pack. For more information about any other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01908 562582 or email us on miltonkeynes.enquiries@belvoirlettings.com

miltonkeynes.enquiries@belvoirlettings.com

Wednesday 5 August 2015

Family sized home in Ashland, £240k with 5.3% yield

Todays deal is quite a nice family sized house in the newly redeveloped area of Ashland - for those not local to the area, there used to be a greyhound racing track here and it used to host a huge Sunday market, but it was all removed, landscaped and redeveloped starting around 9 years ago, and new build continues to this day.

With 3 bedrooms across 3 floors, an en-suite to master bedroom and a garage, all of this can be had for £240k right now, and on the rental market today we would ask around £1050 PCM for this, and it would achieve that price. Within easy reach of Central Milton Keynes, Bletchley and with excellent road access via the A5 north and south, this would be a fantastic home for a growing family, and at todays price you can still pick this up for around the same price that the original purchaser paid right back in the days just before the credit crunch, so from here on in the growth should be much improved, as so much more of the estate is now occupied and drawing more and more people in to the area.

http://www.rightmove.co.uk/property-for-sale/property-53024081.html?premiumA=true

miltonkeynes.enquiries@belvoirlettings.com

The Milton Keynes Property Blog

This is the first and original property blog which offers advice and support for those thinking about a Buy to Let property. Being the only truly independent property blog in Milton Keynes you’ll find completely honest and unbiased opinions on a variety of properties all which would be suitable for the novice as well the experienced property investor.

With over 20 years as a specialist residential letting agent in Milton Keynes I have successfully helped a number of landlords and property investors increase their Buy to Let portfolio’s. I know and understand the local market in great detail and I am always happy to share that knowledge and experience.

By using this blog I will be able to share my expertise and thoughts on the local rental market, the changes which effects all landlords and what it means to invest in property. Being part of a national brand we have the benefit that this brings in keeping ahead of competition but additionally we are a family run business so are able to provide a much more personal service than the corporate. Through the medium of this blog, I hope that my expertise and experience shines through and helps us to standout from the rest of the local agents in Milton Keynes.

By being particular you can be assured that I will only present properties which I consider to be good deals as I will only let you know about properties that I would want to let out and which are safe deals for both the novice and experienced landlords, my intention being that the property suits the individuals long term investment goals.

It has been my personal policy not to sell property (except for a small number of landlord to landlord sales, often with a tenant in place), so any potential investment properties I talk about will be listed on the open market by other agents, in this way I am able to give a completely honest, unbiased and professional opinion on its potential (both good and bad) as I have no vested interest in their sale, so if you want an open second opinion or just want to talk about a property then contact me at:-

stephen.tunney@belvoirlettings.com

or drop into our offices on
London Road in Stony Stratford and speak to us. Alternatively, I can be
contacted by telephone on 01908 562582.

stephen.tunney@belvoirlettings.com

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