An interesting article……. Are Baldock homeowners ready for an interest rate rise? For more information about the Baldock property market and where it is going – please read my other blog posts on http://www.baldockpropertyblog.co.uk or drop me note via email firstname.lastname@example.org, like many Baldock landlords are doing. Alternatively pop in to our office for a cuppa or give me a call on 01462 894565.
The mind-set and tactics you employ to buy your first Baldock buy to let property needs to be different to the tactics and methodology of buying a home for yourself to live in. The main difference is when purchasing your own property, you may well pay a little more to get the home you (and your family) want, and are less likely to compromise. When buying for your own use, it is only human nature you will want the best, so that quite often it is at the top end of your budget (because as my parents always used to tell me – you get what you pay for in this world!). Yet with a buy to let property, if your goal is a higher rental return – a higher price doesn’t always equate to higher monthly returns – in fact quite the opposite. Inexpensive Baldock properties can bring in bigger monthly returns. Most landlords use the phrase ‘yield’
I recently read a report by the Yorkshire Building Society that 54% of the country has seen wages (salaries) rise faster than property prices in the last 10 years. The report said that in the Midlands and North, salaries had outperformed property prices since 2007, whilst in other parts of the UK, especially in the South, the opposite has happened and property prices have outperformed salaries quite noticeably. As regular readers of my blog know, I always like to find out what has actually happened locally in Baldock. To talk of North and South is not specific enough for me. Therefore, to start, I looked at what has happened to salaries locally since 2007. Looking at the Office of National Statistics (ONS) data for North Hertfordshire District Council, some interesting figures came out: Salaries in North Hertfordshire have risen by 25.96% since 2007 (although it’s been a bit of a roller coaster ride to get there!)
Available for sale through Country Propeties in Baldock at £165,000, this property seems like an ideal investment opportunity! Less than half a mile from the mainline station to London and in a quiet development with allocated off road parking. Anticipated annual yield of 4.7%. Take a look at the advert here and call Country Properties to view ASAP!