Friday, 8 May 2015

The Gosforth property market outperforms Jesmond by 26%

A landlord with a small property portfolio came into our office in Regent Centre last week.  He lives between Gosforth and Jesmond, on Dene View, just off Matthew Bank.  He has properties in both towns and wanted our opinion on where his next buy-to-let property should be.

Looking at Jesmond, the average value of a property is an impressive £270,700 with an equally impressive average rent of £990 per month.  In Gosforth, the average value of a property is actually lower at £247,950 but the average rent is a whopping £1,160 per month.  Based on these figures, the annual yield in Jesmond is 4.3%, compared to Gosforth where he could achieve an annual yield of nearer 5.6%.

This made me consider other suburbs close by such as Longbenton and Kingston Park.  Whilst it was no surprise to see that the average value of a property in Longbenton was lower at £144,000 it was interesting to see that the average rental was £675 per month, giving a yield of 5.5%.  In Kingston Park, the average value of a prop

It just goes to show our suburb of Gosforth can be a good area for an investment property, but it is a decision that shouldn't be taken lightly.  These are only averages, so the yields for some small to medium sized properties in popular areas of Gosforth can achieve yields of 5.6% to 7.5% per year. 

If you want to know our thoughts on property in Gosforth, pop into our office in Regent Centre for a coffee and a chat.

Thursday, 30 April 2015

Salters Road, Gosforth - Fantastic looking flat and a great investment opportunity

If you read my blogs regularly you will have seen a few different investment opportunities on Salters Road, Gosforth.

The reason for this is simple, they make great buy-to-let investments!  You can achieve good rental incomes, are likely to attract quality tenants, and if you pick one up at the right price you should achieve some capital growth.

Sarah Mains have just yesterday placed this 2 bedroom flat onto the market, at a price of £135,000.

Looking at the pictures this looks like a really lovely flat, I wouldn't expect you to have to spend much time or money on the property, perhaps a lick of paint here and there!

A 2 bedroom flat here that is as well presented as this will achieve £600 per month in rental income, that's a gross annual yield of 5.3% - are your savings getting that type of return?

This one is well worth a look around, I'd contact the agent sooner rather than later if I were you as I have a feeling this one won't be around for long.

Have a look at the property by following the Rightmove link below:

Warkworth Woods - potential buy to let investment with 5.6% yield

As a resident of Great Park I can't speak highly enough of the development here.  Having lived in Gosforth my whole life I settled really quickly into the area and love it!

So, when I saw this 2 bedroom flat on Warkworth Woods come onto the market yesterday it naturally caught my eye straight away.

If you are thinking about an investment property in and around Gosforth, this one has several advantages.  It's modern, so highly unlikely to be in need of any structural work and this also makes it attractive to potential tenants.

It's in a great location, minutes into Gosforth or onto the A1.

Furthermore, I would expect a 2 bedroom flat of this quality to achieve £700 per month in rental income.  Reeds Rains are advertising the property at a fixed price of £150,000 - that's a healthy yield of 5.6%.

As with a lot of the properties on Great Park, there is likely to be a service charge payable so make sure to find this out and factor it into your figures.

Well worth a look at in my opinion, the Rightmove link to the property is below.  As always, my office is in Gosforth so pop in for a chat and a coffee to discuss this or any other potential investment property you have your eye on.

Wednesday, 8 April 2015

Broomfield Road - Central Gosforth investment opportunity with 5.1% yield

This property has just come onto the market and given it's location I just had to check it out!  Pattinson's have rightly said in their advert "hurry before it's gone!" - I couldn't agree more.

It's a 3 bedroom flat, and for those that don't know Broomfield Road, it's one of the cross streets that run in between Linden Road and North Avenue.  This makes it a very sought after place to live, and at £165,000 I think represents good value for money.

I would expect you to achieve at least £695 per month in rental income, and it looks like to flat is in good condition from the pictures.  That would give you an annual yield of 5.1%, and if you have been reading my articles you can be confident in some capital growth in the long term, as values in this part of our lovely town are rising.

Don't delay, get yourself along for a viewing and let me know your thoughts - pop into my office in Regent Centre for a coffee when your on your way back!

You can see the property on Rightmove by following the link below:

Thursday, 2 April 2015

Broad Meadows, Gosforth - Buy-to-let investment with 5% yield

This 3 bedroom semi-detached property has just come onto the market with Pattinson's, and it caught my eye as a good opportunity.

These properties always rent really well for a few reasons.  They are modern, well designed and have great transport links into Gosforth, the A1 and Newcastle city centre.  They are also right on the doorstep of Kenton shops, at the top of Salters Road.

The asking price is £155,000 and a 3 bed semi here will rent for £650 per month which gives you an annual yield of 5%.

Check out the property on Zoopla by clicking the link below:

Friday, 20 March 2015

Monopoly in would you play?

A couple of local landlords and I had a discussion about the property market in Gosforth, when the subject of risk against returns arose.
All landlords are different in the way they play the property game. Some landlords prefer to accept a modest yield/return on their investment for an increased certainty of finding a quality tenant. Other landlords are interested in high returns, with a greater risk with regards to the quality of the tenant. Before you start playing, it is a good idea to have a game plan.
For a low risk investment, you could buy property in the areas of Gosforth which are perceived as being more desirable, such as Fencer Hill Square and Grove Park Oval, where you should be able to achieve an annual yield of around 4-6%. Following my article a few weeks ago, if you don’t mind a slightly higher risk of void periods or a more varied quality of tenant, you are likely to be rewarded with a higher annual yield of 6-7%. 
This level of risk can be typically taken with semi-detached houses around Gosforth in areas like Kenton or Kingston Park. If you are after annual yields of 8% and over, you could take more of a risk with properties in areas like Coxlodge which may attract tenants of a lower quality but can generally be bought at a lower cost and with rents remaining stable in our area they can offer these yields.
Investing in property is a balancing act, with several factors to consider, and just like the board game a strategy is an important part of the process.
If you would like any advice on choosing properties, pop in to my office in The Grainger Suite, Regent Centre for a chat.

Saturday, 14 March 2015

Wrendale Court, South Gosforth - buy to let investment with 5.6% yield

I received an email alert yesterday about a property that has just come onto the market in South Gosforth, Wrendale Court to be precise, just behind Station Road.

I've been in a few of the Wrendale Court flats, and found them to be really quite lovely!  So when I saw that Your Move have just placed this 2 bedroom flat onto the market at a price of £140,000 it had my attention straight away.

I've actually recently let a property here for a landlord of ours, and we achieved £650 per month, looking at the pictures I see no reason why this couldn't achieve the same rental income.  Based on a purchase price of £140,000 that would generate an annual yield of 5.6%, but bear in mind that there is a service charge payable each month for these flats so that will impact slightly on that figure.

If you are in the market for an investment property then why not arrange a viewing and see what you think, the property details can be found by clicking the link below: