Ready to go investment with a 7% yield potential

Brand new to the market is this very nicely presented two bed back to back on Bridge Street.  If you're an investor who doesn't want to do any work to a property then this could be for you.

Bridge Street is a good location for commuting into Leeds or Wakefield as its on a bus route or easily accessible to the motorway if commuting by car, however it is a very busy road so parking can be a bit of an issue.

At £97,500 I think it's a great buy looking at the standard of finish internally, I'm confident it would be popular on the rental market and is likely to achieve £575pcm which would give you a nice healthy 7% return.

It's on the market with Onwards & Upwards, here's the link: http://www.rightmove.co.uk/property-for-sale/property-44326080.html 

I'm always hapy to talk property, if you want to discuss this or any other deal you are considering then give me a call on 0113 436 4360 or drop me a line at claire@openhousemorley.co.uk

6.6% yield buy-to-let deal for chapel conversion

Reduced to £99,995 yesterday is this tidy looking 2 bed flat in a chapel conversion on Bruntcliffe Road.  There's parking and it's really handy for motorway network, close to Asda and not far into Morley centre so should prove popular on the rental market.

Internally it looks to be in excellent condition, modern kitchen and bathroom and 2 bedrooms.  It's an open plan kitchen / living area which isn't to everyone taste but seems to work well for the rental market.

There is likely to be service charges and ground rent so potential buyers would need to check that out to ensure numbers still work.

In this location, I would envisage it renting for £550pcm giving a 6.6% yield which is pretty healthy.

It's on the market with Yourmove, the link is here http://www.rightmove.co.uk/property-for-sale/property-42495840.html 

If you'd like impartial advice on this or any other buy-to-let deal you are considering, feel free to drop me a line on claire@openhousemorley.co.uk or call me on 0113 436 4360.


Read more Morley property news:

Find out how Morley property investments compare for capital growth

Where's the most expensive street in Morley?

Morley vs Batley property values – which town has performed the best?

When purchasing a buy to let property, there are two ways landlords make money through property letting - capital growth and rental income growth.

A landlord from Upper Batley, who has a number of properties in both Morley and Batley, asked me a few weeks ago about the difference between Morley and Batley housing markets. He was focused on capital growth but also wanted to ensure his yield was relatively fair.  I was quite surprised with my findings and wanted to share them with you.

The average property price in Morley is currently £161,798. In the last 12 months property values in Morley, according to my calculations, have risen by 0.86%. Whilst in Batley, average property prices are £133,324, having risen by 2.28% in the last 12 months. Therefore, is Batley the better bet?

Well, not necessarily.

Over the last 5 years, property values in Batley have risen by 2.97% and in Morley by just over 17.8%, meaning over the last 5 years, property values have increased at an incredible 501% quicker rate in Morley compared to Batley.

But then there is question of yield, Morley does tend to provide a slightly better yield than Batley but property is more expensive in general so you would need to invest quite a lot more capital in the first place in order to achieve those yields.

Each Morley (and Batley) landlord will have different needs and requirements in his or her property investment. If you want an unbiased opinion on what (and what doesn't) make a good property investment. Knowing what has happened to values in different towns, enables us to spot any trends or opportunities for buy to let landlords.

If you would like to discuss my thoughts on the rental markets, feel free to give me a call on 0113 436 4360 or send me an email to claire@openhousemorley.co.uk