Bexley Borough Property News

Crossrail is coming to Abbeywood!!! I know this is old news, which most of you are aware of, and many investors have concentrated their efforts on investing in Abbeywood in anticipation of this; resulting in the Abbeywood property market soaring over the last couple of years – Zoopla estimates a 20.5% increase in property values in the last two years. However, this has also created a buzz elsewhere. With a new two-level station being built (planning to open its doors in 2017) and the faster link resulting in journey times across London being cut dramatically, Abbeywood is set to be driven into a different housing bracket. However, just like the ripple effect, Belvedere has also benefited from these new plans. Although Crossrail isn't coming to Belvedere, its railway station is just one stop from the  Abbeywood Crossrail Station and Zoopla have estimated that Belvedere has benefited from an increase of 17% in property values in the last two years. One trick of the trade i...

This 3 bedroom split level maisonette is an ideal Buy to Let investment. It's on with Anthony Martin with for £160,000. With potential rent of £1,000pcm you would be looking at a yield of 7.5%. Belvedere seems to be getting attention from Investors who may not be able to find a good deal in Abbeywood but would like to benefit from the new Cross Rail coming to the area. If you're interested then get in touch with Anthony Martin soon as I can't see this one being on the market for long. Here is the property on Rightmove:  http://www.rightmove.co.uk/property-for-sale/property-47433415.html

I recently had to advise one of our  Landlords who was considering investing in more buy to let properties, but was unsure about whether he should go for an investment that produced a better yield or capital growth. This is one of the most important considerations that you will make before investing; the balance between annual return/yield and the annual value increase/capital growth. He had been considering the Bexley Park development, which was built around 2002, and is perceived to be nice development to live in. I researched into Pinewood Place in Bexley Park. The average two bedroom flat there sells at around £225,000, with rental returns of around £1,000 per calendar month. I then looked at similar sized two bedroom flats on Frobisher Road in Erith which, when looking at yields, have outperformed those on Pinewood Place. This is because a two bedroom flat on Frobisher Road can be bought for around £130,000 and the achievable rents can be around £850 per calendar month. ...

Browsing through the portals and this property caught my eye. It’s a 3 bed terraced house in Crayford, which is in need of improvements, on for £220,000. I believe this property offers good potential for an investor looking to snap up a property below market value. Looking through the photos it's obvious the bathroom is dated and could do with replacing and also the Kitchen has seen better days. When replacing the kitchen, I would knock through the wall to the room on the side and create a much more desirable kitchen/diner and then partition the lounge creating a separate reception room. With the refurbishment cost kept below £10,000 (which I would say is reasonable), you’re looking at ending up with a 3 bedroom, freehold house costing you less than £230,000 – and if you were to re-value the property then I would expect it to come back at around £250,000; the way the market is moving I wouldn't be surprised if, after the refurbishment period, it was more than this. On...

How would you play? I was having a discussion with some local landlords about the property market in Bexley Borough, when the subject of 'risk against returns' arose. One of the landlords has a vast portfolio consisting of some houses of multiple occupancy and properties that he has converted into multiple units. Everyone plays the property game differently. Some landlords will accept a modest yield/ return on their investment but are not prepared to compromise the quality of tenant. Others are more interested in high returns and are willing to take a risk with regards to the quality of tenant. Before you start playing, it is advisable to have a game plan. For a low risk investment, there are properties in areas of Bexley that are perceived to be more desirable - such as The Old Mill development or on Thanet Road - where you may achieve an annual yield of around 4-6%. At the other end of the scale, you have flats in the Frobisher Road development in Erith, where you ...

A property which would not only be appealing to someone who is looking for one ready to be let out but with a potential yield of 7.19% it is an attractive investment for those who seek higher yields. It is a first floor, 2 bedroom flat being offered chain free for £134,500. It has recently been redecorated and carpeted. On top of that the communal areas on this development are also undergoing substantial improvements, which the seller has already paid for! Being in close proximity to local shops, schools, and bus routes; finding a suitable tenant should be no hassle and with the rental demand so high you could be looking at £900pcm in rent. Take into account the reasonable annual Service Charge of £900 and Ground Rent of £200 that would net the Landlord a healthy yield of 7.19%. It is on the market with Able Estates in Erith and if you’re interested then I wouldn't delay in giving them a call. Here is the property on Rightmove: http://www.rightmove.co.uk/property-for-sa...

Here is a good sized, freehold, 3 bedroom end of terrace property in the Northumberland Heath area. It is ideally located to local shops and schools and in my opinion makes a good buy to let investment. 3 bedroom end of terrace properties in the area should achieve £1,200pcm in rent and with the guide price set at £240,000 - £260,000 that would result in a rental yield of 5.54% if the property was purchased for £260,000. With high demand in the rental sector I can’t see this property being a difficult one to let, but I also believe it’s a property which will be snapped up pretty quick by a 'savvy' investor. If you’re interested then get in touch with Robinson Jackson in Northumberland Heath. Here is the property on Rightmove: http://www.rightmove.co.uk/property-for-sale/property-33510825.html

Bexley property v alues increase by  £715.38 per week Last week, a Landlord visited our office to discuss the rising property prices in Bexley. He owns a diverse portfolio of rental properties in and around the area, so it was interesting to compare the increase in property values. Upon doing some research, I discovered that, over the last 12 months, the average property value in Bexley has risen by £37,200, from £344,500 to £381,700. This is a remarkable increase of 10.8%, which equates to an average of £715.38 per week. When considering detached houses, the average increase is even greater at £52,400 or £1,007.69 per week. I then looked at the surrounding areas to find that, in Bexleyheath and Sidcup, the average increase is lower, at around £601.31 and £518.88 per week respectively. Nonetheless, this is still a very healthy increase. Compared to the national average rise of £353.90, this would suggest that the property market is performing very well in Bexley and the surr...