2 Bed Apartment in Fitzrovia, Great for Buy To Let!

As some of my regular readers will know, I spend a fair chunk of time trawling the property portals, trying to find any potential good deals that would make a great buy to let investment. With more landlords coming to the market, it is more important now to make sure that landlords are buying the right types of property for what the market demands. That's why I have been doing what I have to hopefully aid the decision making process.

So if you are looking for a great buy to let property, look no further.....!

This 2 bedroom apartment is presented very nicely, with a modern kitchen and bathroom, in beautiful condition, you can tell that it has been loved by the current owners so there's not much that you would need to do to it to get it 'letting ready'. It's priced at £550,000, which is a realistic price, looking at what they have been going for in the area. The 2 bed apartments in this area rent in the region of £475 pw, so you could be looking at an annual return of 4.5%.

As I said before, this type of property are flying out at the moment, so if you see something you like, you really can't hang around and wait to make a decision.

If you would like any more information about investing in Property in Fitzrovia, feel free to come in and have a chat. My office is only on Cleveland Street

http://www.rightmove.co.uk/property-for-sale/property-52410410.html

Fitzrovia Apartment - Primed For BTL..

Now, this property is ideal if you are looking for a city centre apartment for investment purposes. A great price being moments for Great Portland St tube - Regents Park and is on the market for £425,000.

This type of property would rent in the region of £415pw. Therefore you are looking at a potential annual yield of 5%, which for a Fitzrovia property is amazing.

It's located on Cleveland Street, within easy reach of the tube station, so this one will appeal to that all important professional market, as long as it is presented well, which this one seems to be and is clean, you should have no issues in renting it out.  At this price I don't think this will be around for long......!

http://www.rightmove.co.uk/property-for-sale/property-52321808.html

Quality properties like this are getting snapped up incredibly quickly, it's not just sales talk! If you are interested, you need to get a wriggle on!

If you decide this one isn't for you, but would like any advice on where you should (or shouldn't) be buying your buy to let property, come and see me for a cuppa and a chat. My advice will always be honest and hopefully will enable you to make an informed decision of what is right for you. benjamin.draper@martinco.com

Is this Fitzrovia apartment too good to be true?

Good morning, on my routine Rightmove trawling, I spotted this little gem. It's a 2 bedroom apartment in the heart of Fitzrovia, located on Goodge Place just off Goodge Street and literally opposite Charlotte street. Superb area for buy to let as the properties always let really quickly here being so close to great transport links and all the delights of Charlotte Street on your doorstep.

From looking at the photos, it looks as though it’s in great condition and ready to let as soon as keys are collected. LDG have put it on the market for £925,000 and I don't expect this to be around for long.

Similar properties to this rent easily in this area for around £650 pw. So you could be looking at a potential annual return of 3.6.%, this is of course not taking into account any service charges or ground rent that may be due. You should always look into this before jumping into any investment. 

If you would like to pick my brain about buy to let in Fitzrovia, please do pop in to see me, my office is located on Cleveland Street, on the same road as the BT Tower!


http://www.rightmove.co.uk/property-for-sale/property-34495080.html

Property Values rise by 0.8% in Fitzrovia

Property values in Fitzrovia rose by only 0.8% in March. This follows several months of sluggish activity in the Fitzrovia property market in the run up to the Election, putting the average price of a property in Fitzrovia at £906,800, 12.7% higher than in March 2014.

Interestingly, the Council of Mortgage Lenders and Estate Agent trade bodies over the last few months have reported seeing a fall in mortgage lending and enquiries from prospective homebuyers. This is important because it comes amid an overall fall in housing market activity in Fitzrovia. Data from the Land Registry said completed house sales in Fitzrovia in the three months to January 2015, (the most up-to-date figures available) fell by 36.98% compared to the same three month period up to January 2014.

However, I believe that the slowdown in property sales in Fitzrovia is supporting Fitzrovia property values, as there is a shortage of houses coming onto the market. Even though in the whole of the first Quarter of 2015, Fitzrovia property value increases may seem subdued when compared to 2014, let us remember, property values are still rising well above the level of inflation. 

As I have said many times before, the population in Fitzrovia is growing at a much higher rate than the number of properties being built. This increasing demand for a roof over people’s head, which is outpacing the supply of new houses being built in Fitzrovia, is creating a severe imbalance in the Fitzrovia (in fact the whole of UK’s) housing market, thus making homeownership an ever increasingly distant dream for many of Fitzrovia’s potential first time buyers.

In fact, I still maintain the view that house prices are likely to rise by around 3 to 5% in Fitzrovia in 2015, even after taking into account this blip at start of the year. The reason being is that the rise reflects both strong economic conditions and steady market conditions with (and this is the most important factor) very low numbers of properties on the market. 

Many Buy to Let landlords know that investing in the Fitzrovia property market is a long-term strategy of 10, 20 even 30 years. Governments come and go, but unless Westminster and Camden Borough Council’s start to build hundreds of new properties a year to make up for the shocking lack of supply, Fitzrovia people will always want a roof over their head, and irrespective of which party is in power, if there aren’t any council houses and they can’t (or are unable to buy), a demand for rental properties will always remain.

As my existing Fitzrovia landlord clients will testify, whether you manage your property yourself, or another Fitzrovia agent manages your properties, everyone is always made to feel welcome when they pop in for a coffee at our offices in Fitzrovia to discuss anything to do with the Fitzrovia property market, how Fitzrovia compares with its closest rival towns. I don’t bite, I don’t do hard sell, I will just give you my honest and straight talking opinion.

However, if you are too busy to pop into town, you could always visit the Fitzrovia Property Blog www.fitzroviapropertyblog.com for advice, intelligent commentary and analysis of the Fitzrovia Property market.