Are you still after a property bargain in Burton? They’re still out there!

Newspapers report property prices in England have soared to a record high – sparking predictions that the country is facing another dangerous property bubble.

Values in the East Midlands are still 13.5% lower than their previous peak in the Autumn of 2007. Even with that news, I have been speaking to a couple of landlords over the last few weeks who had concerns in some quarters that the state backed schemes to boost the supply of mortgages such as Funding for Lending and Help to Buy are inflating a new housing bubble.

Those landlords are asking if this means the end of property bargains in Burton?

Well, if you do your homework, there are still plenty of good buys in Burton. Don’t expect them to come on the more popular streets in the town. The first rule of buy to let investment is that it is isn’t you that is living in the property, it’s the tenant, and there is always demand for every street in Burton!

Back in the Summer of 2013, a two bed semi detached house came up for auction in Hilton with a guide price of £95,000. It wasn’t that bad inside. I kept the photos of the inside and it had a white modern bathroom suite and modern kitchen. The property also offered gas central heating and double glazed windows. It actually sold in August 2013 for £109,000. A matter of months into 2014, it sold again for £122,500. With an estimated rental income of £550 per month, that is still a 5.4% return!

Other ones I spotted were a lovely semi detached bungalow in Rolleston that was bought for £125,000 in the Summer of 2012 and flipped again in early 2014 for £150,000, with just a lick of paint and some new carpets.

By keeping an eye on the local market, I am able to judge if a property is good value to buy for a landlord. I give this advice and opinion freely to anyone who asks, be they an existing landlord of ours or of another agents. I will also give it to anyone thinking of becoming a buy to let landlord for the first time.

I have said it lots of times before, capital growth and rental returns are both as equally important as each other - with good local knowledge, you can achieve both! Let me advise you on where, what and how much!

I do not charge for this service, because if I offer you a honest and straight forward opinion, you could consider using me to manage your property. However, I must stress there is no obligation to do so. Feel free to pop your head through our door on the High Street in Burton to chat about the ups and downs of the property market in Burton.

Click HERE to arrange you FREE RENTAL VALUATION.