Thursday, 17 December 2015

Are there any good property deals in Eastwood?


I was talking to one of my landlords the other day about the impending Christmas festivities and her plans for next Year, when she explained there were no property bargains for her to buy in Eastwood or the surrounding area.  With prices having risen recently it’s always easy to fall into the mind-set that the bargains have gone. So after having a quick look here is what I discovered in terms of bargains in and around Eastwood.

A 2 bed terraced house on Maws Lane, Kimberley, sold in 2007 for £105,000. In September of this year (2015), it sold again for £57,000, a drop in value of nearly 20%!

Another 2 bed town house on North Street, Langley Mill, sold for £76,000 in August this year, whereas back in 2007 it sold for £90,000. A near 16% reduction. These are excellent value properties, even before taking inflation in to account.

Finally, one of those nice 1900s three-storey town houses on Garden Road, sold for £108,000 in the Autumn of 2007. Considering property values are approaching those being achieved in 2007, some lucky person picked up a bargain in the Summer, when it sold again for £96,000.

As we ourselves don’t sell property and don’t charge for our advice, we can give impartial advice without any conflict of interest to our landlords. Whether you are a landlord of ours or not, drop by our offices or give us a ring if you would like any advice.

Thursday, 10 December 2015

Heanor Property - Do you know the Facts and Figures?

Here at Spruce Tree Lettings, we can guide you to the right places to identify property values and yields in Heanor and other useful property related information so you can make sure you get all the information you need about your future investments. Here are just a few property facts about our town of Heanor....

There are 249 streets in the DE75 postcode with 8,384 households and nearly 31% of all those houses (2,597 to be precise) have changed hands since 2005.

Compared to the national average - Heanor has 40% more detached houses, 15% more semi detached houses and as for flats – there are very view with less than 1% of housing stock in Heanor being made up of flats – compared to the national average of around 17.5%. Interestingly, around only 4% of all households across Derbyshire are flats, although this figure will no doubt increase as more are built.

This is all a good indicator that Heanor is good place to buy property in. If you would like more useful facts and figures pop in to see us at our offices.

Thursday, 3 December 2015

Shipley View Estate, Ilkeston – Property everywhere but none to rent?


I was recently asked why there are so few properties to rent on the Shipley View Estate. I did some research and found that since the beginning of 2015, only twenty five properties have been available for rent on the Shipley View Estate, one of Ilkeston’s most popular housing estates. Now whilst the market may be starting to slow a little now as we approach Christmas (which starts for many around the 18th December!), as more people focus on the holidays, many of the properties that have been to let on the Shipley View Estate this year have let in typically 2 to 3 weeks, proving it’s popularity.

As we speak in early December 2015 there are several 2-beds available but they haven’t been on the market for long – all less than two weeks - and probably won’t remain so! So the fact is that actually there is property to rent on the estate – tenants just have to be quick about reserving theirs when they come up.

We can help you identify property values and other useful property related information to make sure you can get everything you need about your future investments. Here are just a few property facts about Ilkeston…

The average house price is around £142,500, and the average income of someone living in Ilkeston is £18,530 per year. Price to earnings ratios are effective measures of the relative affordability of property in a given area (the higher the number – the more expensive it is to buy). In Ilkeston it is the ratio is 7.69 compared to 8.75 across all of Derbyshire and 11.21 nationally. Of course these ratios are dwarfed by those in places such as Kensington & Chelsea where the ratio is a staggering 46.94!