Morley’s Own Homes Under the Hammer

Spotting a Bargain

I love spotting a bargain and this week as I was researching some property prices for a new customer, I came across a real Homes Under the Hammer story that happened recently in Morley.

I'm sure if like me you love property you probably love Homes Under the Hammer, it’s a definite favourite of mine.  It’s great watching the properties bought and then being transformed, but of course what we all really want to know is how much they spent doing it and how much profit has been made!

Churwell Hill Property

Imagine my surprise when I came across the details for 80 Elland Road in Churwell and realised it would have been more than worthy of its own slot on my favourite show.  The property is a 3 bedroom detached property situated on Churwell Hill and if you live in or around Morley, like me, you've probably passed it hundreds of times.

The property was put up for auction in March 2015 at a guide price of £125,000 and sold for £126,000 in April 2015.  From the photos on the listing it looked a little dated in areas such as the bathroom but overall in fairly reasonable condition with a neutral décor.

A Cheeky Little Profit

I then noticed the property had sold again just a few months later in November 2015 for a considerably larger figure of £151,000.  I was intrigued to see what work had been done to achieve a £25,000 increase in only a few months and here’s where I was really in awe – as I started to compare the two listings I could see that in actual fact nothing at all had changed!  See for yourself in the pictures below.  In fact, after purchasing the property in April 2015 for £126,000 the purchasers then put the property up for sale the month after in May 2015 for £159,950 and sold for £151,000 completing the sale in November.  Now that is someone with an eye for a bargain!

It just goes to show that with the right market knowledge and an eye for a good deal, property investment can be very rewarding.  If you have a potential property bargain that you are considering but would like an impartial viewpoint, please feel free to call me for a chat on 0113 436 4360, I'm always happy to talk property.