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gruffydd

Top 10 Buy-to-let Hotspots - The Times

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http://timesbusiness.typepad.com/money_web...t-hotspots.html

"Buy-to-let landlords have been hard hit by the property crash, along with private homeowners. But one small silver lining in the generally gloomy outlook..."

Sure thought some of the rental figures were suspect. Don't know any of the areas well enough to be sure. Any thoughts?

they are all bottom end of the market which to me implies Govt / Housing Associations artificially inflating the market

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1. Glasgow

Average Yield: 12 per cent.

Typical property: A one bedroom first floor flat in Rutherglen, Glasgow. Price: £32,000. Monthly Rental: £350.

2. Houghton Le Spring, Tyne and Wear

Average Yield: 10 per cent

Typical property. A two bedroom terraced house five minutes walk from the town centre. Price: £46,500. Monthly Rental: £400.

3. Telford, Shropshire

Average Yield: 10 per cent

Typical property: A one bedroom first floor apartment flat Price: £59,950. Monthly Rental: £500

4. London Borough of Lewisham

Average Yield: 8 per cent

Typical property: A one bedroom first floor flat in Lee. Price: £95,000. Monthly Rental: £675

5. MIddleton, Manchester

Average Yield: 8 per cent

Typical Property: A two bedroom middle terraced house in a suburb of Manchester. Price: £64,950. Monthly Rental: £450

6. Barnsley, South Yorkshire

Average Yield: 8 per cent

Typical Property: A three bedroom semi-detached house in the Darton district of Barnsley. Price: £65,000. Monthly Rental: £450

7. London Borough of Newham

Average yield: 8 per cent

Typical Property: A one bedroom flat in East Ham. Price: £104,500. Monthly rental: £700.

8. Burnley, Lancashire

Average Yield: 7 per cent

Typical Property: A three bedroom terraced house in the east Lancashire town of Burnley. Price: £79,500. Monthly Rental: £525

9. Neath, Wales

Average Yield: 7 per cent

Typical Property: A two bedroom semi-detached house in the Neath Abbey part of the town. Price: £69,950. Monthly Rental: £450

10. Newcastle upon Tyne:

Average Yield: 7 per cent

Typical Property: A three bedroom semi-cetached house in the Throckley district. Price: £69,950. Monthly Rental: £450

Fill yer boots.

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I suspect it's difficult to rent out in. A mate rents down there - 3 bed terrace for £320 / week.

2 bed semi £450? WTF! Very suspect information.

Edited by gruffydd

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they are all bottom end of the market which to me implies Govt / Housing Associations artificially inflating the market

Or housing benefit payments distorting lower end of the market? Can't believe working people pay that much in Barnsley.

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I suspect it's difficult to rent out in. A mate rents down there - 3 bed terrace for £320 / week.

2 bed semi £450? WTF! Very suspect information.

Just done some checking. Generally, good sized 3 beds in Neath are around £420-£500 / week through a letting agent - £350 plus direct.

So C'mon BTL people. Come and invest in Neath :lol::lol::lol:

Edited by gruffydd

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RE: 9. Neath, Wales

Average Yield: 7 per cent

Typical Property: A two bedroom semi-detached house in the Neath Abbey part of the town. Price: £69,950. Monthly Rental: £450

I did a Rightmove Search on Neath Abbey -

Here's the price for a 2 bed terrace [below] in Neath Abbey - the cheapest 2 bed terraced house was nearly 68,950k in that area.

2 bedroom terraced house for sale

5 St Johns Terrace, Neath Abbey, Neath, Neath Port Talbot

£105,000

On the main road through the village, a freehold semi-detached two bedroom house offering accommodation on three levels. There is uPVC double glazing, gas heating and a large garage at the rear. The vendors are re-locating and have priced the property to attract early interest.

Where did they get the £69,950 figure for a 2 bed semi in that part of town? INSANITY? The cheapest 2 bed semi listing on Rightmove was 105k - and it was a tiny bungalow.

Edited by gruffydd

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don't know any of the areas but interesting that all in lower end of market - so low levels of monthly rent - ie to make decent amount of money would need to have 5 houses and 5 tenants rather than one top end - so would expect higher rental yield due to higher risk and hassle at lower end of market.

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Middleton. Almost close enough to spit on from Oldham.

How big are LHA areas? If they're big enough areas like middleton will drag everywhere else down quicker :)

Cool.

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I enjoyed the comment by TAQI:

More grossly irresponsible lies emanating from estate agents masquerading as journalists.

Never mind the massive oversupply of rental property, and the fact that just a week ago RICS pointed out that rents have collapsed by 30%. Oh, and ignore the fact that a further 25% fall in capital value is cast-iron guaranteed.

All that matters is that the slimy spivs who call themselves estate agents, together with their willing whores in the media, trick the greedy and the mentally feeble into the BTL fraud.

Utterly, utterly disgraceful.

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What the hell is the editor doing letting these grossly misleading lies through to print. I get the impression that the journo either has a massive vested interest in ramping the market or has simply phoned up a few letting agents and failed to double check the facts.

Edited by gruffydd

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3. Telford, Shropshire

Average Yield: 10 per cent

Typical property: A one bedroom first floor apartment flat Price: £59,950. Monthly Rental: £500

The Telford rental price appears to be around £100 too high in the Times article as well. This is typical for Telford:

1 bedroom apartment to rent

10, Huntington Drive, Lawley Bank, TELFORD, Shropshire

£400 pcm

Unfurnished Modern first floor flat,of lounge with french doors, fitted kitchen with appliances, Double sized bedroom, bathroom. Night storage heating and parking....

Edited by gruffydd

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pff, those kind of yields are for amateurs only. i'm sure that hamish has been boasting on here of being able to earn 16% up in scotland.

an interesting mix though... (1) & (2) are former mining towns, so, i guess, were (6) and (9) to some extent...

i looked around Lewisham a little bit a while ago... and i guess it's kind of OK, i'd be very surprised if there's anything much at all there for £100k... yeah, i just checked houseprices.co.uk and nothing has sold there for below £100k in quite a few years.

my guess is that all of those yields have been inflated a percentage point or three.

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