Great Letchworth investment opportunity!

Satchells have just started marketing this three bedroom property in Letchworth at £275,000.  We have let this house for a number of years and an investor can expect a yield of around 4%.  Take a look at our video and the Satchells advert here

With 2,805 people in private rented properties in Letchworth should you still be investing in Letchworth buy to let?

If I were a buy to let landlord in Letchworth today, I might feel a little bruised by the assault made on my wallet after being (and continuing to be) ransacked over the last 12 months by HM Treasury’s tax changes on buy to let. To add insult to injury, Brexit has caused a tempering of the Letchworth property market with property prices not increasing by the levels we have seen in the last few years. I think we might even see a very slight drop in property prices this year and, if Letchworth property prices do drop, the downside to that is that first time buyers could be attracted back into the Letchworth property market; meaning less demand for renting (meaning rents will go down). Yet, before we all run for the hills, all these things could be serendipitous to every Letchworth landlord, almost a blessing in disguise. Letchworth has a population of 32,897, so when I looked at

read more With 2,805 people in private rented properties in Letchworth should you still be investing in Letchworth buy to let?

Letchworth first time buyers borrow £18.3m in the last 12 months

Starting with the bigger picture, over the last 12 months in the UK, 1,061,557 properties were sold with a total value of £223.74 bn. To give that some context, ten years ago 1,581,727 properties sold with a total value of £405.56bn, so it can be seen the number of people moving house has dropped by over a third over the last decade. Whether you are a landlord, homeowner or tenant, it’s always important to keep an eye on the Letchworth property market, not just from your point of view, but also from every player’s point of view. Over the last 12 months, 381 properties have sold (and completed) in Letchworth, worth £127.4m. Interestingly the number of properties changing hands in Letchworth has also dropped when compared to a decade ago. It might surprise you that first time buyers in 2017 will benefit from a slight decline in Letchworth buy-to-let investors. Those looking to buy a home in the spring and

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104 Letchworth households occupied by OAP renters

Recent statistics published by the Office of National Statistics show that there are 267,704 private rented households in the Country that are occupied by people aged 65 and older, meaning 4.39% of OAP’s are living in private rented property. It got me thinking two things. How many of these OAP’s have always rented and how many have sold up and become a tenant?  In retirement, selling up could make financial sense to the mature generation in Letchworth, potentially allowing them to liquidate the equity of their main home to enhance their retirement income.  I wanted to know why these older people rent and whether there was opportunity for the buy to let landlords of Letchworth? The Prudential published a survey recently that said nearly six out of ten OAP renters had never owned a home.  Two out of ten OAP renters were required to sell up because of debt, just about one in ten OAP renters sold their property to

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