Why you'd be best off ignoring Rightmove's latest report if you are a homeowner in Welling

Keeping up to date with whats happening in the property world, especially in Welling, is naturally a big part of my job.

Every month I get a report from Rightmove, the UK's largest property portal, which tells me what is happening out there, and you'll find this month's via a link at the bottom of this article. 

It's titled "Lowest annual increase since 2013 gives warning to overpricing sellers". Most people would read that and be pessimistic, and assume the market is slow. Not so in Welling!

Firstly, let's address the overpricing comment. Overpricing your property makes no sense, whatever the market conditions may or may not be. If you are selling a property, or renting one, you should want your property to be popular and to create an environment of demand, competition and urgency. That is far less likely if you overprice. Ask a local expert for their opinion, and to back it up with some evidence of previous transactions, so you can be confident in the figures given. 

Then there is the "lowest since .." side of things. It's still an increase. Prices are still rising, and this is because of a lack of supply to the market, with significantly more people looking to purchase family homes than there are houses available. This means that if you price correctly, you are likely to get that competition and demand which removes the "time waster" buyers, and often means you get sensible offers in and around asking price, or even sometimes above, rather than "cheeky" offers considerably lower than you were hoping. 

And to back this all up properly? Rightmove report record traffic levels during January 2017. 

As they say, statistics can be used to prove anything. The fact is, the market in Welling is very strong, and if you are looking to move, re-finance, or rent your home, then there is someone out there ready to take your property from you, and probably for more money than you had budgeted. 

Rightmove's House Price Index report for this month can be found here ... http://www.rightmove.co.uk/news/house-price-index/

So why not get an estimate for your place? You can do so online via our free online tool ... valuation.dansonpropertyservices.com or if things are a little more serious please do contact me directly on kevin@dansonpropertyservices.com free and without obligation.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

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Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

Welling Investment Property of the Week - 21st Feb

We had such a good response to our recommendation last week we haven't ventured too far from there this week. 

The developments on the Welling/Bexleyheath border are ideal for first time renters, and therefore investors, as they offer excellent transport links into central London from Bexleyheath station, numerous bus links, easy access to the A2, Danson Park and Crook Log Leisure centre all within a short walk. 

As well as Talehangers Close, Fox Hollow Drive, and last weeks example on Brampton, Regency Way and its neighbouring blocks by the Toby Carvery are great investments. 

Their style is different to most in the local area which should appeal, and everything a young professional tenant could want is within a few hundred yards, take your pick of one of these two depending on the budget ...

Properties of the Week

One bed ....

Marketing Price £235,000-£250,000

Expected Rental £975pcm

Rental Yield at Asking Price 5.0%

http://www.rightmove.co.uk/property-for-sale/property-57988450.html

Two bed ....

Marketing Price £250,000

Expected Rental is some minor cosmetic work £1200pcm

Rental Yield at Asking Price 5.8%

http://www.rightmove.co.uk/property-for-sale/property-46900086.html

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

Welling Investment Property of the Week - 14th Feb

We were going to venture a little further afield today with our investment buy of the week, to nearby Bexleyheath, figuring anyone interested in Welling isn't likely to object.

Such a bargain was the property we picked out over the weekend that by the time I came to write this piece it was already under offer. Just shows, I hope, that a good buy highlighted by us usually gets snapped up quickly, so do follow for further guidance in the future. 

The property in question?

http://www.rightmove.co.uk/property-for-sale/property-58049269.html

A brilliant first time buy of course, but also buy-to-let investment. With a rental return of £1250pcm, and being so near the station and the amenities neighbouring it, that gives a 5.7% rental yield at asking price. Well done to whoever snapped that one up. 

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

8 things you should be doing to maximise your rental income in Welling

The New Year is now in full flow and the housing market traditionally picks up as we come into the Spring.

If you are involved with renting properties out and want to have a successful 2017 then these are the things you need to know and do:

1. Tax Changes - mortgage/loan interest

If you have not heard already, you will not be able to fully deduct mortgage interest as a cost from your rental income. Instead, for this year, you can deduct 75% of it. 25% of the cost will be added as a credit at the end.

2. Repairs

You will be please to know that repairs are still fully deductible. However the 10% wear and tear allowance has been scrapped. A fie time to replace, as these costs are now fully recoverable. 

3. Voids

Don't be that landlord that doesn't do repairs and ends up with a substandard property towards the end of the tenancy. Tenants will still be living there and they could potentially put of the prospective new tenants. Let's face it, if they are leaving they have little inclination to keep the place spotless, sure, but don't give them any more ammunition to short you down with. You want a glowing recommendation from them if possible. Ultimately any repairs that are done properly will enhance capital value, which is great if you want to re-finance, but will also potentially increase rental value, make tenants stay longer and reduce void period. On that note, if you do receive notice, talk to your tenants. You may find some shocking things that they just didn't bother reporting was ever wrong, but they thought it was easier to move than trouble you with repairs. 

4. Price

Don't be the landlord that everybody hates. You know, the one that wants top dollar for their property that is isn't presented accordingly. Let the agents decide, or the comparable on the market, what your property is worth. Remember the cost of your mortgage and the rent you are able to achieve are as different as chalk and cheese. Price competitively, get multiple offers, choose the tenant that suits you best. A good tenant at £1300 a month is better than a poor one at £1350. 

5. Legalities

Make sure your house is in order, literally. Have you done your annual gas safety/boiler service? Given it to the tenants? Did you register the deposit for any new tenants? Have you served them the "How to Rent" booklet, and the EPC? If any of this is alien to you, just ask. 

6. Refinancing?

Make sure that you are able to. This year the mortgage lenders have been asked to tighten up their lending, so your rent must be 145% of the interest only mortgage payment, not 125% like in days gone by. 

7. Buying?

Stamp duty, and loads of it. 3% is a lot. Make sure you budget accordingly. 

8. The property market

Nobody knows the future, but I have predicted rent rises in the local area for several years, due to more red tape, agency fees being banned, and various other costs that ultimately will be passed on to the customer - the tenant. 

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation

Welling Investment Property of the Week - 7th Feb

Property of the Week

Marketed Price £260,000

Expected Rent £1200pcm

Rental Yield 5.5% at asking price

http://www.rightmove.co.uk/property-for-sale/property-46360071.html

Another week, another great investment out there for landlords. 

With previous sales in this development at £250,000 and £255,000 for identical flats, but crucially from nearly 12 months ago, this appears to be tremendous value at £260,000 and in excellent condition. It could be rented without any work needed for £1200pcm offering a return of 5.5% per annum. 

From my knowledge of Elmfield Court, DA16 the flats are larger than most houses, so potential tenants, and buyers when you come to re-sale in the future, shouldn't be short on the ground. 

Well worth a call to one of our neighbouring agents in Welling to investigate further.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ. There is plenty of parking and the kettle is always on.

Don’t forget to visit the links below to view back dated deals and Welling Property News.

Follow The Buy-To-Let Property Investment Market in Welling

Welling Property Market LinkedIn Page

Danson Property Services Welling Facebook Page

Danson Property Services Welling Twitter Page

Welling Investment Property Specialist Danson Property Services Website

Find out how much is your Welling home worth. Click here for your FREE Instant Online Valuation