Posted on: Tuesday, October 27, 2020
It is estimated that nearly two million people own buy-to-let property across the UK (Resolution Foundation 2019), with property being regarded as a ‘safe-haven’ asset. At 5.4% and 5.7% respectively, the gross yield on residential property across the West Midlands and Wales is attractive.
Ceredigion is currently the strongest performer in the area, followed by Birmingham, Nuneaton and Bedworth, and Wolverhampton. In all four areas, gross yields are currently more than 6%.
Property prices across the West Midlands were 4.1% higher year-on-year and across Wales were 2.8% higher as the housing market reopened in June. Ceredigion, Wales is currently the strongest performer in the region. Activity across the market has been bri¬¬sk; nationally the average time taken to sell a property fell to 53 days in August, down from 62 days in August 2019. Sensible pricing remains crucial, as correctly priced properties are nearly twice as likely to be sold ‘subject to contract’ within four months of listing than those that have had their asking price reduced. Properties are currently selling, on average, in just 50 days across the West Midlands.
“Birmingham City Centre has had a robust busy property market this autumn. Notwithstanding overall high stock levels there have been good levels of activity from price sensitive tenants and purchasers alike. The sales turnover has been, however, slowed by the post Grenfell fire regulations now sought by mortgage surveyors. Overall, lettings prices are down 5% on last year, with sales prices remaining stable.”
This unique four-bedroom hop kiln conversion is set in an idyllic rural location in a wonderful established garden set in approximately half an acre with adjoining farmland.
The property, which benefits from LPG central heating and double glazing, offers spacious accommodation of considerable character with many fine features including two bedrooms in the original hop kiln, exposed timbers, vaulted ceilings, oak doors, staircase and double-glazed windows.
This immaculately-presented modern home benefits from a bespoke interior design throughout with underfloor heating on the ground floor and a solid oak staircase. A particular feature of this home is a delightful kitchen and breakfast room with a stunning island topped with granite work surfaces and bi-fold doors leading out onto the rear garden
This well presented and spacious four-bedroom detached family residence is situated in a sought after semi-rural location with further scope for development. The excellent living accommodation comprises a study, living room, dining room, breakfast kitchen, master bedroom with en-suite shower room, three further bedrooms, family bathroom, double garage with roof storage space and gardens all around.
Click to see the market reports in other regions:
● Market Report 2020 Autumn South West
● Market Report 2020 Autumn East Midlands
● Market Report 2020 Autumn Essex, Norfolk and Suffolk (East)
● Market Report 2020 Autumn Hertfordshire, Bedfordshire and Cambridgeshire (East)
● Market Report 2020 Autumn London
● Market Report 2020 Autumn North East and Yorkshire
● Market Report 2020 Autumn North West and North Wales
● Market Report 2020 Autumn Northern Ireland
● Market Report 2020 Autumn Scotland
● Market Report 2020 Autumn South East Home Counties - Kent and East Sussex
● Market Report 2020 Autumn Southern Home Counties - Surrey and West Sussex
● Market Report 2020 Autumn Southern
● Market Report 2020 Autumn Thames Valley, Berkshire, Oxfordshire and Buckinghamshire
● Market Report 2020 Autumn West and South Wales
If you want independent guidance on moving home or are looking for the best agent in your area, find your local Guild Member today.
We are required by law to conduct anti-money laundering checks on all those selling or buying a property. Whilst we retain responsibility for ensuring checks and any ongoing monitoring are carried out correctly, the initial checks are carried out on our behalf by Lifetime Legal who will contact you once you have agreed to instruct us in your sale or had an offer accepted on a property you wish to buy. The cost of these checks is £60 (incl. VAT), which covers the cost of obtaining relevant data and any manual checks and monitoring which might be required. This fee will need to be paid by you in advance of us publishing your property (in the case of a vendor) or issuing a memorandum of sale (in the case of a buyer), directly to Lifetime Legal, and is non-refundable. We will receive some of the fee taken by Lifetime Legal to compensate for its role in the provision of these checks.