Eyes On….This Weeks Investment Properties In Newark

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Here is this weeks round up of new properties for sale in NG24 up to a value of £150,000.

Here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor!

Address: 18 Marton Road, Newark, NG24 1SL
Asking Price: £115,000
Property Type: 3 Bed Semi Detached
Estate Agent: SDL Auctions Graham Penny
Condition: Light refurbishment
Rent Range: £625-675pcm
Yield: 7.04%
Comments: Needs to be viewed to assess the condition. £130,000 seems to be the average price for a property on this street. Also factor in the buyers premium payable to the auctioneer.

Address: 44 Smith Street, Balderton, NG24 3BA
Asking Price: £120,000
Property Type: 2 Bed Terraced
Estate Agent: William H Brown
Condition: Ready To Rent
Rent Range: £525-575pcm
Yield: 5.75%
Comments: Two doors up sold for £115,000 in 2016. Looks recently modernised and ready to rent. The only bathroom is located off one of the bedrooms hence why they have described it an an en-suite. Located down a quiet cul de sac.

Address: 30 Smith Street, Balderton, NG24 3BA
Asking Price: £120,000
Property Type: 3 Bed Terraced
Estate Agent: Richard Watkinsons
Condition: Full Refurb Required
Rent Range: £550-600pcm
Yield: 6.00%
Comments: They’re all selling up on Smith Street. This needs a lot of work but offers a lot of potential. Good sized bedrooms and a huge garden which is missing a fence. Overpriced considering the amount of work required.

Address: 174 Northgate, Newark, NG24 1HL
Asking Price: £120,000
Property Type: 2 Bed Terraced
Estate Agent: Winkworth
Condition: Light Refurb Required
Rent Range: £475-525pcm
Yield: 5.25%
Comments: Small terraced house in a good spot for the station. Next door sold for £106,000 last August and looks more modern (just looking at the front doors). Around £25,000 too much.

Address: 6 Wood Street, Newark, NG24 1PN
Asking Price: £125,000
Property Type: 3 Bed Terraced
Estate Agent: Haart
Condition: Ready To Rent
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Next door to a house share. Paid £111,000 in December 2014 after it was renovated so probably not done anything to it since. Located near to Barnby Road Academy.

Address: 3 Newton Street, Newark, NG24 1SU
Asking Price: £130,000
Property Type: 3 Bed Terraced
Estate Agent: Bairstow Eves
Condition: Light Refurb Required
Rent Range: £550-600pcm
Yield: 5.76%
Comments: Better location than Wood Street I think, though you’ll pay a bit more for it. Next door sold for £115,000 in January this year.

Buttercross Best Buy
Address: 28 Pelham Street, Newark, NG24 4XD
Asking Price: £130,000
Property Type: 2 Bed Terraced
Estate Agent: Jon Brambles
Condition: Ready To Rent
Rent Range: £525-575pcm
Yield: 5.31%
Comments: Tidy property close to town centre. Last bought for £107,000 in 2014. Comes with a garage which is handy in this location.

Address: 4 Toll Bar Cottages, London Road, Balderton, NG24 3JE
Asking Price: £130,000
Property Type: 2 Bed Terraced
Estate Agent: Jon Brambles
Condition: Ready To Rent
Rent Range: £575-600pcm
Yield: 5.54%
Comments: Another tidy property from Jon Brambles. Number 1 sold for £117,000 in 2014. Car park to the side of the property.

Address: 5 Riverside Road, Newark, NG24 4RJ
Asking Price: £140,000
Property Type: 2 Bed Semi Detached
Estate Agent: Newton Fallowell
Condition: Light Modernisation Required
Rent Range: £575-625pcm
Yield: %
Comments: Popular location and plenty of storage which is lacking in more modern properties. Kitchen needs modernising and probably the bathroom. Number 1 sold for £136,500 in 2015.

Address: 4 Friary Road, Newark, NG24 1LE
Asking Price: £145,000
Property Type: 2 Bed Terraced
Estate Agent: Newton Fallowell
Condition: Ready To Rent
Rent Range: £575-600pcm
Yield: 4.96%
Comments: Very well presented terraced house near to the town centre. Busy road and neighbours have Japanese knotweed which is being treated. Something to investigate further.

Address: 16 Baines Avenue, New Balderton, NG24 3BL
Asking Price: £145,000
Property Type: 2 Bed Semi Detached
Estate Agent: Alasdair Morrison
Condition: Probably Needs Work (No internal photos)
Rent Range: £575-600pcm
Yield: 4.96%
Comments: Paid £133,950 in September 2007 shortly after it was renovated (bought in February of the same year for £95,000). No internal photos to see what it’s like now and the description doesn’t help. Off street parking for when the road fills up during the school run. Often used as a run through to the back of Balderton.

Address: 26 Boundary Road, Newark, NG24 4AL
Asking Price: £150,000
Property Type: 3 Bed Terraced
Estate Agent: Newton Fallowell
Condition: Ready To Rent
Rent Range: £600-625pcm
Yield: 5.00%
Comments: Last terrace to sell on the street was #16 for £132,000 back in 2015. Looks very well presented. Quite tight for parking around this busy road.

If any of these properties have caught your eye and you’d like to discuss it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Newark On Trent Property Market Statistics to December 17

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Following our last update at the end of June 2017 we wanted to share with you the changes to the market as we have seen it to the end of the year. Data has come from properties we have let, Land Registry and Home.co.uk. We’d love to know how your property compares so please leave any comments below.

(Figures in brackets are from the last update)

Average Monthly Rent In Newark

£599 (£578) – Let by Buttercross Estates
£542 (£568) – According to Home.co.uk

Average Monthly Rents By Type

£485 (£466) – Flats
£599 (£583) – Terrace
£624 (£629) – Semi Detached
£898 (£781) – Detached

Average Monthly Rents By Postcode District

£564 (£550) – NG24 1
£608 (£649) – NG24 2
£569 (£563) – NG24 3
£679 (£582) – NG24 4

Average Weekly HMO Room Rate

£86 (£85) – Standard
£120 (£116) – En-Suite

Average Time Taken to Move Tenant In from Instruction

20 Days (From properties taken on from another agency)

Average House Price By Type (Sold Price Data)

£104,251 (£104,890) – Flats (55 total)
£128,643 (£127,733) – Terrace (201 total)
£148,916 (£142,187) – Semi-Detached (229 total)
£233,749 (£222,511) – Detached (183 total)

Average Gross Yield By Type

5.58% (5.33%) – Flats
5.58% (5.47%) – Terrace
5.02% (5.31%) – Semi Detached
4.61% (4.21%) – Detached

Sales data has been released up to the start of October. Sales often slow on the run up to Christmas and we’ve seen that with the number of new properties coming to the market in the past month (just 27 in the past 14 days). It’s a good time to pick up a bargain as January will no doubt see a small surge in activity from both buyers and sellers.

If you would like a free review of your buy to let properties our door is always open. We can identify where your portfolio needs improving and how it can be done. With the changes to legislation and taxation landlords profits are being hit harder than ever so it is key you keep on top of your investments. Call today to book your slot 01636 343014.

Have a prosperous 2018.

Nottinghamshire Selective Licensing Update

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Yesterday I attended the EMPO (East Midlands Property Owners) and DASH (Decent and Safe Homes) event updating about the selective licensing schemes across Nottinghamshire. The talks gave updates on Nottingham City’s proposed scheme, Gedling’s proposed scheme and updates on how Ashfeld’s scheme has been running since it’s implementation earlier this year…

Nottingham City

In November 2016 Nottingham City Council (NCC) voted to commence a city wide selective licensing consultation impacting 35,000 homes. The 11 week public consultation ended on 31st March 2017 and produced just 1,466 responses. Having considered the responses, on 18th July 2017 NCC approved a revised scheme now impacting 32,000 homes. The fee per property will be £655 for non accredited landlords and £400 for accredited landlords (see my previous post about becoming accredited). The fee is paid in two parts. The first payment on application and the second on notification by NCC to grant a licence. Due to the size of the scheme, NCC is required to seek permission from the Secretary of State and this was sought a the end of September 2017. If approved the scheme will potentiall remove circa £20m from the Nottingham Private Rented Sector (PRS) and will be the third largest scheme in England. The decision from the Secretary of State is due in January 2018.

Netherfield

Gedling Borough Council (GBC) have a consultation running until the 5th January 2018 and you can respond to it via their website. GBC believes a scheme is the only option available to compel landlords to improve management practices leading to a better housing and an environment where a balanced housing market and positive economic and social change will be assured. Netherfield is identified as one of the 15 Partnership Plus areas (high crime/ASB hotspots) within Nottinghamshire where evidence suggests the PRS delivers substandard accommodation. In Netherfield there were over 400 reports of fly tipping in 2016, some attributed to the PRS. Under this selective licensing proposal landlords will need to take more responsibility for the storage and disposal of rubbish arising from their properties.

Within GBC enforcement area, Netherfield has experienced the highest number of service requests made about housing conditions during 2012-16 period. GBC believes 680 properties will fall under licensing based on housing data captured from the 2011 census (22.5% of the ward is privately rented). The proposed scheme will be entirely self financing. The fee for non accredited landlords will be £675 and accredited landlords £650, per property. GBC is conducting a briefing meeting on Tuesday 21st November at their offices. Details can be found here.

Ashfield

The selective licensing scheme in Ashfield was implemented on 1st February 2017. 463 properties are affected under the designation in Stanton Hill and Central Sutton In Ashfield. The Council has revised the number of properties to 956 after 113 landlords were registered as living at their rental properties therefore they were not originally identified as within the PRS. The fee is £350 per property for non accredited landlords and £250 for accredited landlords (though I believe the discounted period has ended). A property inspection will take place prior to issuing the licence and a follow up HHSRS inspection after the licence is issued. The scheme has forced a number of rogue landlords to sell their properties and there have been 56% less complaints being made about waste problems. Some stats from Ashfield Council since their scheme has been up and running;

  • 950 properties require a licence
  • 536 landlords have actively engaged
  • 279 applications are being processed
  • 63 properties have been rewired
  • 43 properties have had new roofs and windows
  • 8 properties have been identified as high risk
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Newark On Trent Property Market Statistics to July 17

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Following our last update at the end of 2016 we wanted to share with you the changes to the market as we have seen it to July. Data has come from properties we have let, Land Registry and Home.co.uk. We’d love to know how your property compares so please leave any comments below.

(Figures in brackets are from the last update)

Average Monthly Rent In Newark

£578 (£557) – Let by Buttercross Estates
£568 (£552) – According to Home.co.uk

Average Monthly Rents By Type

£466 (£447) – Flats
£583 (£540) – Terrace
£629 (£603) – Semi Detached
£781 (£782) – Detached

Average Monthly Rents By Postcode District

£550 (£565) – NG24 1
£649 (£613) – NG24 2
£563 (£512) – NG24 3
£582 (£578) – NG24 4

Average Weekly HMO Room Rate

£85 (£83) – Standard
£116 (£115) – En-Suite

Most Viewings Within 7 Days Of Listing

17 (For a detached 4 bed house in Balderton)

Average House Price By Type (Sold Price Data)

£104,890 (£109,059) – Flats (28 total)
£127,733 (£124,271) – Terrace (108 total)
£142,187 (£149,991) – Semi-Detached (121 total)
£222,511 (£221,525) – Detached (97 total)

Average Gross Yield By Type

5.33% (4.92%) – Flats
5.47% (5.21%) – Terrace
5.31% (4.82%) – Semi Detached
4.21% (4.24%) – Detached

Sales data has been released up to the start of June and after speaking with Andrew & Co solicitors last week they were stacked out on sales so I expect there was a flurry of completions before the holiday season. Although our ensuite HMO room rate hasn’t changed much, we’ve broken the ceiling and achieved £135pw.

If you would like a free review of your buy to let properties our door is always open. We can identify where your portfolio needs improving and how it can be done. With the changes to legislation and taxation landlords profits are being hit harder than ever so it is key you keep on top of your investments. Call today to book your slot 01636 343014.

Have a great holiday season.

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Why you can’t always rely on the experts

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It’s fair to say that what we don’t know is far greater than what we do know. Being humans, this means that when we come across something which we didn’t know we often trust a person in authority to give us the correct information. In fact, 93% of landlords haven’t read the tenancy agreement they signed.

OK, so I just made that fact up, but I’d hazard a guess it’s pretty high. Did you trust it?

I had a couple come in the other week who were looking at buying their first BTL property. They were looking for something around the Beacon Hill area near to where they lived and shortly after we had a coffee the ideal house came on the market. They booked a viewing and subsequently agreed to buy the property on the condition that the owners were allowed to rent the property back from them. In a horrible scenario one of the owners was terminally ill (and has since passed away) so they wanted to release their equity and minimise the disruption by staying in the property. “No problem” said the sales agent, “we do these all the time“. Referring to the fact that the owner would be staying in the property as a tenant.

As a landlord, it’s the perfect scenario. No voids and a tenant who will look after the property as if it’s their own and the chance to help someone in a very difficult situation. Why wouldn’t you do the deal?! Well, when they came back to tell me the good news, I p*ssed on their bonfire. Sale and rent back is a practice regulated by the FCA (for over 5 years now) after lots and lots of unscrupulous property investors were buying houses off vulnerable people at huge discounts with the promise of rent free periods then booting them out after 6 months. Not a good situation and as a result the FCA stepped in and only “authorised firms” are able to carry out these transactions.

Understandably, the couple were more than a bit surprised given this contradicts the advice given to them from their sales agent and even their solicitor. Off they went, with their spirits deflated, to do their own research. They contacted their solicitor again and pointed out the FCA regulation at which point they decided they weren’t comfortable acting on the purchase. They contacted the FCA directly who were about as much help as Manuel the waiter. In the end they could not be sure that they would not be prosecuted by the FCA if they agreed to a SARB. They met the owners again and explained the findings. It wasn’t what they wanted to hear but they understood. It was agreed that they would purchase the property with vacant possession with the owners moving into rented accommodation elsewhere.

The couple popped in last week with the news that they are getting the keys tomorrow with work starting on the renovation on Saturday. I’ll be popping down to give them advice on how best to prepare the property ready for their first venture into landlording.

The point I’m trying to make is that even when you are entrusting experts to look after your interests, make sure you don’t do it blindly. The sales agent and solicitor weren’t trying to make the couple do something illegal, however it would be the couple that the FCA would come after should it have gone ahead. There is a wealth of free and accessible resources on the internet so there is no excuse.

If you’ve got a property predicament and want a second opinion, I probably won’t know, but I can certainly find out and the door is always open (figuratively, we’re in the pub by 5.31pm).

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Newark On Trent Property Statistics for 2016

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We keep a close eye on the market and wanted to share with you some of the observations of the property market in Newark On Trent. Data has come from properties we have let, Land Registry and Home.co.uk. We’d love to know how your property compares so please leave any comments below.

Average Monthly Rent In Newark

£557 – Let by Buttercross Estates
£552 – According to Home.co.uk

Average Monthly Rents By Type

£447 – Flats
£540 – Terrace
£603 – Semi Detached
£782 – Detached

Average Monthly Rents By Postcode District

£565 – NG24 1
£613 – NG24 2
£512 – NG24 3
£578 – NG24 4

Average Weekly HMO Room Rate

£83 – Standard
£115 – En-Suite

Most Applications Received At Once

4 (For a furnished 2 bed terraced house)

Average House Price By Type (Sold Price Data)

£109,059 – Flats (79 total)
£124,271 – Terrace (229 total)
£149,991 – Semi-Detached (195 total)
£221,525 – Detached (208 total)

Average Gross Yield By Type

4.92% – Flats
5.21% – Terrace
4.82% – Semi Detached
4.24% – Detached

The latest data for sales in Q4 of 2016 has not yet been released but this is unlikely to affect the average prices much. What I find interesting is that the numbers of detached houses is greater than semi-detached and not much behind terraced. It shows that the market in Newark is still very strong throughout the higher end.

Our HMO room rates are likely to increase when we bring to market a high end HMO towards the end of February.

We’ve excluded some properties which would throw the figures off. Like a 2 bed terraced house that generates £1,100 per month. I won’t go into details about how it generates so much or I’ll have to kill you…

If you would like a free review of your buy to let properties our door is always open. We can identify where your portfolio needs improving and how it can be done. With the changes to legislation and taxation landlords profits are being hit harder than ever so it is key you keep on top of your investments. Call today to book your slot 01636 343014.

On behalf of Abi and I, have a wonderful and prosperous 2017… we can’t wait!

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EYES ON……THIS WEEKS INVESTMENTS IN NEWARK

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Here is this weeks round up of new properties for sale in NG24, up to a value of £150,000.

As ever, here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 10 Clarke Avenue, Newark, NG24 4NY
Type: 3 Bedroom semi-detached
Asking Price: £140,000
Estate Agent: Richard Watkinson
Condition: Ready to rent
Rent Range: £600-650pcm
Yield: 5.57%
Comments: Recently renovated to a very good standard and a new ground floor extension added to the rear, it’s quite obvious they’ve spent a lot of money on the property; Whether it justifies the price considering Number 39 was sold in August for £110,000 it is up to you to decide.

Address: Parsons Close, Fernwood, Newark, NG24 3UX
Type: 1 Bedroom quarter house
Asking Price: £92,000
Estate Agent: Martin and Co
Condition: Ready to rent
Rent Range: £375-425pcm
Yield: 5.54%
Comments: Located on the popular Fernwood development with allocated parking, this size property would be ideal for a couple however without any photos it’s impossible to know what it’s like inside!

Address: 55 Appleton Gate, Newark, NG24 1LN
Type: 2 Bedroom end terrace
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready to rent – apart from the kitchen!
Rent Range: £525-550pcm
Yield: 5.5%
Comments: Good location for the train station and town centre, the property is neutrally decorated until you get to the kitchen which has different colour cupboards, tiles and splash back that i know i wouldn’t want.

Buttercross Best Buy
Address: 120 Winthorpe Road, Newark, NG24 2AX
Type: 3 Bedroom semi-detached
Asking Price: £139,950
Estate Agent: JHW Home
Condition: Ready to rent
Rent Range: £625-675pcm
Yield: 5.78%
Comments: Properties like this one on the street don’t appear on the market very often, it’s in a great location for the A1/A46 and would suit most types of tenant, however the shower unit could do with coming out of the bathroom and replacing it with a bath and an overhead shower as it will appeal to more tenants.

Address: 103 Elizabeth Road, Newark, Nottinghamshire, NG24 4NR
Type: 3 Bedroom semi detached
Asking Price: £134,950
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £625-675pcm
Yield: 6%
Comments: The owners have clearly spent a lot of money on the property, it was bought 2 years for £37k less than the current asking price so it looks like there hard work has paid off. Great property for a family with plenty of living space and a large enclosed rear garden.

If you’ve seen a property in Newark or Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Investor Evening 3rd November

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Are you looking to expand your property portfolio, or perhaps considering that first investment opportunity?

Then join us in Jon Brambles office, 1-3 Barnby Gate, Newark, NG24 1PX on 3 November 2016 between 5.30pm and 7.30pm

There will be sales staff, mortgage advisor and lettings specialists on hand to answer any questions you may have.

In addition, we will have full details of properties that may be suitable for your investment, together with an idea of potential rental income.

Refreshments will also be provided.

To register your interest, please email hello@buttercrossestates.com

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Eyes On… This Weeks Investments In Newark

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Here is this weeks round up of new properties for sale in NG24, up to a value of £150,000.

As ever, here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 190 Barnby Gate, Newark, NG24 1RH
Type: 3 bed terraced house
Asking Price: £112,500
Estate Agent: Winkworth
Condition: Needs modernising
Rent Range: £525-575 pcm
Yield: 6.13%
Comments: Possibly the most random combination of decoration and carpeting I have seen. Barnby Gate is a busy street. Bought for £60,000 in 2003 and probably hasn’t been touched since.

Address: 4 Sam Derry Close, Newark, NG24 1FY
Type: End terraced house
Asking Price: £130,000
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £550-600 pcm
Yield: 5.54%
Comments: Looks like the developer is selling these off one by one. Next door (Number 3) sold for £116,000 so they will consider an offer. Boring fact alert, Google has decided that the street is Sam Berry Close. I’m sure Col Derry would not be too happy.

Address: 303 The Roundhead, Warwick Brewery, Newark, NG24 1TX
Type: 2 Bed apartment
Asking Price: £132,500
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £525-575 pcm
Yield: 5.21%
Comments: Love these apartments as they are finished well but not a fan of the high service charge and the quantity that are rented.

Address: 60 Appleton Gate, Newark, NG24 1LR
Type: 2 Bed terraced house
Asking Price: £119,950
Estate Agent: CPG Property
Condition: Ready to rent
Rent Range: £525-575 pcm
Yield: 5.75%
Comments: Nice house in a good location. Last sold for £95,000 in 2005. Looks a little small but don’t think the photos do it justice.

Buttercross Best Buy
Address: 33 Beacon Hill Road, Newark, NG24 2JH
Type: 3 Bed detached bungalow
Asking Price: £150,000
Estate Agent: Newton Fallowell
Condition: Needs modernisation
Rent Range: £850-900 pcm
Yield: 7.20%
Comments: Looks like an ideal property to flip. Those regular readers will know I love a good (bad) bungalow. This won’t be on the market long.

If you’ve seen a property in Newark or Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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Eyes On… This Weeks Investments In Newark

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Here is this weeks round up of new properties for sale in NG24, up to a value of £150,000.

As ever, here’s a quick reference guide to what is on offer, for how much and what you can expect as an investor.

Address: 5a Chain Lane, Newark, NG24 1AU
Type: 2 Bed apartment
Asking Price: £84,950
Estate Agent: Sell It
Condition: Ready to rent
Rent Range: £375-425 pcm
Yield: 6.00%
Comments: Useful photo of the bunk bed. Interesting positioning of the shower. Lazy electrician?

Address: Eton Avenue, Newark, NG24 4JD
Type: 3 Bed semi detached house
Asking Price: £115,000
Estate Agent: CPG Property
Condition: Requires full refurbishment
Rent Range: £575-625 pcm (when refurbished)
Yield: 6.52%
Comments: Ridiculous price. Worth around £85-90,000. Would’ve had the Buttercross Best Buy if it was priced sensibly.

Address: 9 Village Way, Farndon, NG24 4SX
Type: 2 Bed semi detached bungalow
Asking Price: £134,950
Estate Agent: Richard Watkinson
Condition: Requires full refurbishment
Rent Range: £600-650 pcm (when refurbished)
Yield: 5.78%
Comments: Bungalows are always in good demand as so few come onto the market. Number 29 sold for £125,000 in very good condition. If it was £100,000 I’d still say it was overpriced.

Address: Worthington Road, Balderton, NG24 3RE
Type: 2 Bed terraced house
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £500-550 pcm
Yield: 5.50%
Comments: Tidy little property suitable for a couple or small family.

Buttercross Best Buy
Address: Gainsborough Drive, Newark, NG24
Type: 3 Bed semi detached house
Asking Price: £149,950
Estate Agent: Now Homes
Condition: Ready to rent
Rent Range: £625-675 pcm
Yield: 5.41%
Comments: Refurbished to an excellent condition. Good location north of the town centre. Highest sale on the street was number 5 for £135,000 in 2007.

Address: Mount Road, Balderton, NG24 3HF
Type: 3 Bed semi detached
Asking Price: £119,950
Estate Agent: Newton Fallowell
Condition: Probably needs updating
Rent Range: £600-650 pcm
Yield: 6.50%
Comments: More photos of the outside than the inside suggest it’s a tired property. Nothing on the street has sold for more than £105,000.

Address: 11 Park Crescent, Newark, NG24 2BY
Type: 3 Bed semi detached house
Asking Price: £125,000
Estate Agent: Lesley Greaves
Condition: Needs modernising
Rent Range: £600-650 pcm
Yield: 6.24%
Comments: Around the corner from Gainsborough Drive. Looks like the carpets and decorating need attention as a minimum. They paid £120,000 in 2009.

Address: 7 Century Street, Newark, NG24 1QP
Type: 2 Bed mid terrace
Asking Price: £94,950
Estate Agent: Jon Brambles
Condition: Cosmetic work required
Rent Range: £450-500 pcm
Yield: 6.32%
Comments: Quite a tight street this one. One of the larger ones on the street as it goes over the passage. Paid £100,000 in 2010. Last sale on the street was also by Jon Brambles for £92,000 a couple of years back.

Address: 55 Appleton Gate, Newark, NG24 1LN
Type: 2 Bed end terrace
Asking Price: £119,999
Estate Agent: Sell It
Condition: Cosmetic work required
Rent Range: £550-600 pcm
Yield: 6.00%
Comments: These houses tend to fetch £90-100,000. They paid £113,000 in 2007 so prices here still haven’t got back to where they were. Good location though.

Address: 12 Nicholson Street, Newark, NG24 1RD
Type: 2 Bed mid terrace
Asking Price: £130,000
Estate Agent: Newton Fallowell
Condition: Ready to rent
Rent Range: £550-600 pcm
Yield: 5.54%
Comments: Excellent condition. Looks like a lot of money has been spent on it hence the price tag. They haven’t been helped by the portfolio that went to auction earlier in the year across the way from them. They were in poor condition though.

Address: 33 Lovers Lane, Newark, NG24 1HU
Type: 3 Bed mid terrace
Asking Price: £120,000
Estate Agent: Jon Brambles
Condition: Ready to rent
Rent Range: £500-550 pcm
Yield: 5.50%
Comments: Small house on a busy street. Been recently renovated but they seemed to have missed the front door (only painted). Curious one as it looks to have been bought 6 months ago for £115,500.

Address: 17 Village Way, Farndon, NG24 4SX
Type: 2 Bed semi detached bungalow
Asking Price: £149,950
Estate Agent: Newton Fallowell
Condition: Cosmetic work required
Rent Range: £650-700 pcm
Yield: 5.60%
Comments: Occupying a larger plot and having been extended make this a much more appealing bungalow however you are paying for it. Priced much more realistically than Richard Watkinsons. Same price they paid for it in 2005.

If you’ve seen a property in Newark or Nottinghamshire and would like a detailed report on it’s investment potential, call us on 01636 343014, or better still pop in for a chat and a cuppa.

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