Croft House Spectacular!

I love seeing what people do with properties after they have bought them, that's probably why I love Homes under the hammer!  Here’s a great example of how to make a quick profit from property investment.  This lovely little 2 bedroom bungalow on the popular Croft House estate was purchased in June 2015 for £117,000 and needed a quite bit of up-dating as you can see from the photo’s.  

In just under a year the whole property was fully refurbished inside and out and sold for £155,000 in May 2016.  I think whoever bought it did an amazing job, I’m sure you’ll agree from the before and after photo’s.  I hope they were still left with plenty of profit from the £38,000 they made from the sale after all the works had been paid for, they certainly deserve it and the new owners now have a beautiful home.  It’s great to see tired properties like this being given a new lease of life.

Don’t forget to visit the links below to view back dated deals and Morley Property News.

Blog: morleypropertyblog.blogspot.co.uk

Facebook: www.facebook.com/openhousemorley

Twitter: twitter.com/openhousemorley

Website: openhousemorley.co.uk

Family semi-detached home with 3 bedrooms on Ingle Grove – great investment opportunity

This looks a good prospect just come onto the market, 3 bed semi detached on Ingle Grove.  It appears to be nicely presented with a good sized low maintenance garden and nice sized kitchen which looks reasonably modern which both tick the box for the family market. There’s no bathroom view so chances are that needs up-dating!

It's on the market for £135,000 and is likely to be popular on the rental market and should achieve around £650 pcm, which would give a 5.77% yield.  Family homes to rent are always in high demand in Morley which should mean minimal void periods, long term tenants and a choice of good tenants making it a great investment prospect.

It’s on the market with Dacre, Son & Hartley – here’s the rightmove link: Ingle Grove Rightmove Listing

If you want to discuss this or any other property investment you are considering, feel free to get in touch on 0113 436 4360 or claire@openhousemorley.co.uk, I’m always happy to talk property!

Don’t forget to visit the links below to view back dated deals and Morley Property News.

Blog: morleypropertyblog.blogspot.co.uk

Facebook: www.facebook.com/openhousemorley

Twitter: twitter.com/openhousemorley

Website: openhousemorley.co.uk

A few facts about the property market in Gildersome

A landlord who has invested in rental properties throughout Morley and surrounding areas asked me about the property market in her home village of Gildersome.  If you’re not familiar, Gildersome is thought to have been founded by Dutch immigrants who fled from Guelderland in around 1751. It was an old mining community and some of the original mining locations remain today. Some of the old housing built for the miners still stands today, including the town houses and terraces built on Street Lane. A lot of land has been redeveloped. Mill Lane now sits on what used to be a large industrial area.  Gildersome is generally regarded as part of Morley, but it technically it is separate and is not governed by Morley town council.  Since being established as a parish in 2004, Gildersome now has its own parish council serving its 5,804 residents.

What we found out about the area was quite interesting. The average value of a property in Gildersome is currently £188,174 which is a huge £27,599 above the average of neighbouring Morley.   The most expensive street in Gildersome is Yarra Court, where an average property is worth in excess of £355,000.  Incredibly, 1799 properties have been sold in Gildersome over the last 10 years.

The most expensive property was a stunning new 5 bedroom detached property on Church Street, which sold for £570,000 in 2013.  The average rent in the village is £625 per month and 48 people have sold their property so far this year, according to the Land Registry.

If you would like to discuss property in the area, you are welcome to give me a call on 0113 4360 4360 or drop me a line at claire@openhousemorley.co.uk

Don’t forget to visit the links below to view back dated deals and Morley Property News.

Blog: morleypropertyblog.blogspot.co.uk

Facebook: www.facebook.com/openhousemorley

Twitter: twitter.com/openhousemorley

Website: openhousemorley.co.uk

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

7% yield potential on good looking flat

New to the market is this well presented two bedroom flat at Providnce Works in a handy location for commuters situated on Howden Clough Road, accessing the M62 / M621 in minutes.

The flat looks very well presented and with two en suite bedrooms is likely to prove popular with young professional sharers and should achieve a rental income of around £575pcm to potentially £600pcm giving a healthy 7% yield.  Of course as a leasehold flat there are likely to be ground rent and other service charges to take into consideration when calculating return on investment.

The property is on the market with Whiegates Dewsbury - here's a link to the property details to see more http://www.rightmove.co.uk/property-for-sale/property-43898568.html 

If you want to discuss the merits of any property inb=vestment you are considering, feel free to give me a call.