Well it definitely feels like winter has arrived today!
During my browse of Zoopla this morning I came across this 2 bedroom flat in Haxby Court which is just off Schooner Way. Now the reason I picked this one, is not just the price (it is on the market with Jeffrey Ross for a guide price of £124,950) but also it’s location which is a great attraction to prospective tenants. It has the advantage of being within walking distance to both the Mermaid Quay are and the City centre.
Now if you take a look at the photos it is all neutral and looks pretty much ready made for tenants to just move in making it a hassle free investment.
So as I was having a browse on Zoopla last night this two bed in Prospect Place stuck out.
It is being advertised as a tenanted investment opportunity with a yield of 6.5% which sounds very good! It has just come on the market with Knight Knox for a bargain of £132,500! Now there are no internal photos at the moment so I would definitely suggest a viewing to check this is all what it seems but at this price it is worth a look. It has two bedrooms and two bathrooms and similar flats in the development are typically being sold for £145,000 and upwards.
This two bedroom on Harrowby Street which is right in the middle of Cardiff Bay caught my eye this morning. The location is ideal as it just a few minutes walk to the popular Mermaid Quay, where all the restaurant, cafes and bars are so would be very attractive to prospective tenants.
It has come on the market for a reasonable £151,500 and is on with Simpsons Estates. The property has an open plan living room/kitchen and two double bedrooms with the master benefiting from an en suite which is great for sharers.
You should be looking to achieve a rental figure of around £725pcm.
Now like I have said before the Windsor Quay development is definitely worth considering if you are a looking for an investment opportunity. It can get over looked as it is one of the older developments in the Bay but you can get a lot for your money and they still rent out very well.
This two bed in Morel Court has come to the market with Taylors for offers over £140,000. From the photos the decor looks good and kitchen and bathroom is modern which will attract prospective tenants. The added benefit of this one is that it comes with a separate garage which is very rare for a Cardiff Bay apartment!
Take a look at the link below for some more photos
I was having an interesting chat with a Cardiff Bay buy to let landlord the other day when the subject of size of households came up in conversation. For those of you who read my Brexit article published on the morning after the referendum, one of the reasons on why I thought the Cardiff Bay property market would, in the medium to long term, be OK, was the fact that the size of households in the 21st Century was getting smaller – which would create demand for Cardiff Bay Property and therefore keep property prices from dropping.
Looking at the stats going back to the early 1960’s, when the average number of people in a home was exactly 3, it has steadily over the years dropped by a fifth to today’s figure of 2.4 people per household. Doesn’t sound a lot, but if the population remained at the same level for the next 50 years and the we had the same 20% drop in household size, the UK would need to build an additional 5.28 million properties ( or 105,769 per year) .. When you consider the Country is only building 139,800 properties a year … it doesn’t leave much for people living longer and immigration. Looking closer to home…
In the City of Cardiff Council area, the average
number of occupants per household is 2.3 people
When we look at the current picture nationally and split it down into tenure types (i.e. owned, council houses and private renting, a fascinating picture appears.
The vast majority of homeowners who don’t have a mortgage are occupied by one or two people (81% in fact), although this can be explained as residents being older, with some members of the family having moved out, or a pensioner living alone. People living on their own are more likely to live in a Council house (43%) and the largest households (those with 4 or more people living in them are homeowners with a mortgage – but again, that can be explained as homeowners with families tend to need a mortgage to buy. What surprised me was the even spread of private rented households and how that sector of population are so evenly spread across the occupant range – in fact that sector is the closest to the national average, even though they only represent a sixth of the population.
When we look at the City of Cardiff Council figures for all tenures (Owned, Council and Private Rented) a slightly different picture appears…
1 person households in Cardiff Bay
2 person households in Cardiff Bay
3 person households In Cardiff Bay
4 person households in Cardiff Bay
5+ person households in Cardiff Bay
But it gets even more interesting when we focus on just private rental properties in Cardiff Bay, as it is the rental market in Cardiff Bay that really fascinates me. When I analysed those City of Cardiff Council private rental household composition figures, a slightly different picture appears. Of the 28,972 Private rental properties in the City of Cardiff Council area,
4% of Private Rental Properties are 1 person Households
2% of Private Rental Properties are 2 person Households
2% of Private Rental Properties are 3 person Households
9% of Private Rental Properties are 4 person Households
9% of Private Rental Properties are 5+ person Households
As you can see, Cardiff Bay is not too dissimilar from the national picture but there is story to tell. If you are considering future buy to let purchases in the coming 12 to 18 months, I would seriously consider looking at one or two bed apartments. Even with the numbers stated, there are simply not enough to meet the demand. They have to be in the right part of Cardiff Bay and priced realistically, but they will always let and when you need to sell, irrespective of market conditions at the time, will always be the target of buyers.
Every now and again I like to look at the best which our area has to offer. This won’t be in most people’s price bracket but for the lucky few this could just be the ideal family home.Click the link and enjoy…. http://www.rightmove.co.uk/new-homes-for-sale/property-54299669.html If nothing else may it could make a lovely start to your weekend.
If you have available cash and would like to view then give the agent, Savills a call.
This jumped out at me as I was scanning Zoopla for potential property deals for one of my retained clients. The apartment is located in the Ferry Court development.
It’s a one bedroom flat which looks in a pretty good condition, possilbly just needs a lick of paint to freshen it up. These one beds always seem to rent well and attract good quality professional tenants. The only thing to bear in mind is one beds do tend to have a higher turnover of tenants so you wil have to consider potential vacant periods in between tenancies. Although from experience these don’t tend to be long.
It has come on the market with Purplebricks for £112,000 and for more details click on the link below.