The FMP Group are investment specialists that help clients invest in the UK property market with ease. Our end-to-end investment strategy utilises our in-house services so that every stage of a client’s investment journey is planned and delivered with space to enjoy growing wealth and freedom.
With a focus on UK property in the North of England, we service clients across the UK and overseas providing turnkey buy-to-let investment solutions through our property sourcing, property renovation and property management services.
**House prices** achieved in June are 6.3% higher than Jan 2024 and 3.2% higher than March 2024.
**Listings** - 34.6k UK listings this week. 8% higher YTD than 2017/18/19 YTD average.
**Total Gross Sales** - 24,858 - 6.7% higher than 2017/18/19 YTD levels & 10.5% higher than 2023 YTD levels.
**Net Sales** - 18,656 this week, 25.9% higher than the same week in 2023.
**Sale fall-thru rate rising.** For the last few months its been around the 21% to 22% range, yet in the last few weeks its been towards the mid 20’s. This week it crept up again to 24.95% - Yet, everything in context, the 7 year Long Term Average is 24.8% and it was 40%+ in the Truss Budget.
This property consists of:
1 bedroom apartment
2 bedroom apartment
They are currently tenanted achieving £750PCM. The last rent review was in 2019 so there is the opportunity to increase the current rental return.
Apartments rented in this area average around £450PCM for a 1 bed apartment and £525PCM for a 2 bed apartment.
Properties had an overall average price of £130,683 over the last year.
The majority of sales during the last year were terraced properties, selling for an average price of £93,965. Overall, sold prices are 14% up on the 2020 peak of £114,614.
A rare opportunity to purchase a newly renovated block of 8 Apartments.
7 x 2 Bed Apartments
1 x 1 Bed Apartment
We have estimated that the 2 bedroom units will return between £650-£700PCM and that the smaller 1 bedroom unit will return £550PCM. As these are newly renovated there may be potential to achieve a higher rent.
REDUCED BY £30K
This large 3 bedroom, 2 reception property with kitchen extension has the perfect floor layout for a 4 bedroom HMO with minimum internal re-structuring. Using the existing floor plan we are able to convert to 2 x double bedrooms and 2 x single bedrooms with a shared bathroom. In addition, there is also then a separate kitchen and additional communal living space.
We recommend that you be satisfied with the expected rental returns and income based on the property's purchase price. Consider any potential future increase in value as a bonus. The property market can fluctuate, sometimes decreasing in value, so it's wise to think of property investment as a long-term strategy.
Our estimations for potential revaluations and rental incomes are based on current market trends. Please note that we are not responsible for any discrepancies between our estimates and the valuations made by lenders. We encourage all clients to independently verify any figures we provide and base their purchasing decisions on their own investigation of rental returns, current and potential market values in the area.
Be aware that all renovation cost figures are approximations. Actual costs may vary, potentially increasing or decreasing depending on the nature of the work and any unforeseen issues after purchase completion. Properties requiring electrical testing may need extensive work, such as a complete rewiring, if they fail these tests.
Any property purchase is undertaken at the buyer's own risk. We always recommend seeking professional advice. Our service is intended for guidance and should not be solely relied upon for decision-making.
Copyright © 2024 The Finnigan-McNeill Property Group Ltd. All Rights Reserved. Registered Company No: 13979169.
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