6.8% rental yield in Clapham South

This four bedroom flat in Poynders Garden SW4 has just come onto the market with Foxtons, at an asking price of £399,950.

http://www.rightmove.co.uk/property-for-sale/property-49501853.html

Finished to a reasonable standard, with four good size double bedrooms, a large reception room, and within easy walking distance of Clapham South (Northern Line) and Balham (London Victoria), the property would make an ideal home for professional sharers. 

After studying the floorplan and noting the lack of a bathroom photograph, it seems unlikely that it includes a shower - something most sharers would consider essential. A bathroom refit should be considered if you want to make the property as attractive as possible to prospective tenants. After making minor changes a weekly rent of £525 would be achievable, offering a 6.8% yield at asking price. The recent stamp duty reform also represents a saving of £2,000 when compared to the old 'slab' system.

If you've spotted a buy-to-let opportunity or need impartial advice regarding your current property portfolio, feel free to give me a call on 020 3397 2099 or email me at jeroen@xandermatthew.com.

How will stamp duty reform affect the Clapham property market?

The big news from George Osborne's Autumn Statement was a complete overhaul of the stamp duty system. The old "slab structure" has been replaced with a sliding scale along the same lines as income tax, with different rates applying only to the portion of the property price within each band.

From today, this means:

• No stamp duty will be paid on the first £125,000
• 2% is paid on the portion up to £250,000
• 5% is paid on the portion up to £925,000
• 10% is paid on the portion up to £1,500,000
• 12% is paid on anything above that

For the majority of buyers across the UK this can only be a good thing, with stamp duty decreasing or remaining the same on all purchases below £925,000. 

But what does it mean for the property market in Clapham?

There are currently 340 properties for sale within the SW4 postcode.

Of these, 33 fall within either the 250k-300k or 500k-550k range. The reform represents good news for the sellers of these properties, as under the old system their true value was often distorted due to buyer's reluctance to offer above the thresholds, where the increased rate applied to the entire value of the property (3% at 250k and 4% at 500k). 

With many buyers struggling to raise a large enough deposit to secure a mortgage, the reduction in stamp duty from £7,800 to £3,000 on a £260,000 property will have a significant impact, with greater demand anticipated in cheaper areas such as the Solon New Road Estate and the Clapham Road Estate. First time buyers will hope to compete for properties which would usually be snapped up by buy-to-let landlords.

Clapham will, however, feel the negative effects of the reform far more than neighbouring Brixton and Stockwell. In upmarket areas such as Abbeville Village and Clapham Old Town, buyers are going to feel the pinch, and this could have a knock-on effect further down the chain.

95 properties in SW4 are on the market with asking prices in excess of £925,000. The majority of these are 4+ bedroom family homes on streets such as Cautley Avenue, Narbonne Avenue and Lillieshall Road. 40 of the 95, on streets such as The Chase and Macaulay Road, have asking prices in excess of £1,500,000. At that level, buyers are at least £18,750 worse off. It's fair to assume that in the short term at least, they may look to offset this loss by making slightly lower offers.

If you have any questions regarding the stamp duty reform, or you'd like to know how it might affect your property, give me a call on 020 3397 2099 or email me at jeroen@xandermatthew.com.

You can calculate the stamp duty on your property purchase here:
http://www.hmrc.gov.uk/tools/sdlt/land-and-property.htm

Auction: 5 bed between Clapham and Wandsworth Commons

This five bedroom terraced house in Mayford Road SW12 is available via Barnard Marcus Auctions and goes under the hammer on 16th December.

http://www.rightmove.co.uk/property-for-sale/property-49351424.html

The property appears to be in reasonable condition - an empty shell ready to be turned into the superb family home that the location warrants. Mayford Road is very highly regarded and is just a stone's throw from Wandsworth Common Station (for London Victoria) and easy walking distance from Balham Station for the Northern Line. 

With a guide price of £900,000, it's a potentially lucrative investment opportunity. In February 2014, a five bedroom terraced house in Mayford Road, finished to an extremely high standard throughout, sold for £1,795,000, while another comparable four bedroom property is currently on the market with an asking price of £1,650,000.

Viewings with Barnard Marcus Auctions are scheduled for 1.30pm on the following dates:

Friday 5th December

Tuesday 9th December

Thursday 11th December

Monday 15th December

If you're a developer or buy-to-let landlord who's spotted a potential investment opportunity, why not ask my opinion with no obligation? Give me a call on 020 3397 2099 or email me at jeroen@xandermatthew.com.

Buy-To-Let bargain

Just a quick one from me today - blog followers will remember this three bedroom flat in Camberwell from a couple of weeks ago. 

http://www.rightmove.co.uk/property-for-sale/property-49183244.html

The asking price has now been reduced from £335,000 to O.I.E.O £300,000. This represents a potential rental yield of up to 6.7%, a great opportunity for any buy-to-let investor. 

If you're a landlord or developer who's spotted a property with investment potential, email the web link to jeroen@xandermatthew.com and I'll be happy to give you my opinion. 

Buy-To-Let in Streatham Hill

This two bedroom flat in Streatham Hill has been on the market with Haart for just over a month, and was reduced today from £295,000 to £288,000.

http://www.rightmove.co.uk/property-for-sale/property-46638283.html

The ground floor flat in Balcombe House, SW2 is within walking distance of Streatham Hill station (for London Victoria) and offers two good size double bedrooms as well as a large reception room. In the current rental market it could be expected to achieve £1,400pcm, offering a 5.8% yield at asking price. 

It's not uncommon for properties in the £250,000 - £300,000 range to have difficulty attracting buyers because of the stamp duty threshold. It's likely that the vendor would entertain offers lower than the asking price, enabling a buy-to-let investor to maximise their yield.

Thinking of buying, selling or letting? Ask my opinion with no obligation by giving me a call on 020 3397 2099, or email me at jeroen@xandermatthew.com.

Development opportunity on Cavendish Road

The lots for December's auctions have been released, and this four bedroom property in Balham SW12 looks to be one of the best opportunities available for developers and investors.

http://www.rightmove.co.uk/property-for-sale/property-32958450.html

The property on Cavendish Road goes under the hammer on Wednesday 10th December with Auction House London, with a guide price of £675,000. It's available with 124 years remaining on the lease, and planning permission has already been granted to create a separate lower ground floor two bedroom flat in addition to extending the existing two bedroom garden flat. 

With its enviable location close to Clapham South Tube (Northern Line) and The Common itself, two bedroom period flats on Cavendish Road can fetch anywhere from £500,000 to £700,000, depending on condition and outside space. 

Viewings can be booked with Auction House London (020 8012 3603) and are scheduled for the following times:

Thursday 27th November 14:30

Monday 1st December 13:30

Thursday 4th December 14:30

Monday 8th December 13:30

If you have your eye on a development or buy-to-let opportunity, why not get a second opinion? Email the Rightmove or Zoopla link to jeroen@xandermatthew.com and I'll be happy to give you my thoughts.

7% yield in Brixton

This four bedroom flat in SW2 is available through Beresford Residential with an asking price of £375,000. 

http://www.rightmove.co.uk/property-for-sale/property-49181534.html

At over 1,000 sq. ft. and offering four good size double bedrooms plus a reception room, it would make an ideal buy-to-let property. If there's one downside it's the lack of public transport links in the immediate area. Potential tenants would have a 15 minute walk to the nearest train station, but given the demand for four bedroom properties this shouldn't be problematic.

At this time of year it could be expected to achieve in the region of £480 per week, but in the peak summer rental market where sharers are willing to pay a premium for three and four bedroom properties, £525 per week wouldn't be unrealistic. This represents a fantastic 7.3% yield at asking price. 

If you've spotted a buy-to-let or development opportunity in SW London, give us a call on 020 3397 2099 for free advice with no obligation. 

Buy-to-let with 6%+ yield

Something a bit different for the blog today, as it's the first time I've posted a property that's on the market with my own agency! Trust me, if you're a buy-to-let investor it's worth a look. The property in question is a three bedroom ex-local authority flat on the market with an asking price of £335,000, and is available chain free for a prompt sale.

http://www.rightmove.co.uk/property-for-sale/property-49079678.html

With three good sized double bedrooms and a large reception room, it would be an ideal home for professional sharers. Located in Camberwell SE5, the property is within easy walking distance of several stations as well as Kings College Hospital. It could be expected to rent for £390 per week, offering a 6% yield at asking price.

Thinking of buying, selling or letting? Why not ask my opinion with no obligation? Email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

Update on Queenstown Road period flat

Eagle-eyed blog followers will remember me telling you about this 3 bedroom period flat a few weeks ago http://claphamproperty.blogspot.co.uk/2014/10/period-flat-with-excellent-capital.html

http://www.rightmove.co.uk/property-for-sale/property-48777956.html

In the last 24 hours the asking price has been reduced from £565,000 to £535,000, offering a rental yield of 4.4%. The demand for period properties, ongoing regeneration of Nine Elms, and the Northern Line extension to Battersea all bode well for future capital growth prospects, and this is where you'll really see a return on your investment. 

To maximise your future profit I'd suggest testing the water with an offer below the £500,000 stamp duty threshold.

If you're thinking of buying, selling or letting and want a second opinion with no obligation, give me a call on 020 3397 2099 or email kevin@xandermatthew.com.

Auction Lot: Victorian terraced house in Balham SW12

This four bedroom Victorian terraced house on Calbourne Road is available via Barnard Marcus Auctions and goes under the hammer next Monday 17th November, with a guide price of £775,000. 

http://www.rightmove.co.uk/property-for-sale/property-48977084.html

Calbourne Road is very highly regarded. Located within a few hundred yards of Wandsworth Common and Balham stations it offers an easy commute to London Victoria and London Bridge via the Northern Line. The property is comprised of four bedrooms, two reception rooms, cellar, kitchen, bathroom and rear garden. Requiring complete refurbishment, a developer could turn it into a superb family home and see a sizeable return on their investment. 

Given that an immaculate four bedroom property on the same road recently sold for £1,365,000, my advice would be to go and take a look. Barnard Marcus are conducting viewings at 10.30am on Wednesday 12th and Friday 14th November.

SOLD: August 2014

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=39327772&sale=52152977&country=england

If you're a developer or landlord who's spotted an investment opportunity, email me the web link to kevin@xandermatthew.com and I'll be happy to give you my honest opinion. 

The best ex-local flat I've seen in a while. A stunner

Those were the words of one of my colleagues in the lettings department when he came across this property this morning. I'd have to agree.

http://www.rightmove.co.uk/property-for-sale/property-48961985.html

At almost 1,000 sq. ft. with three good size double bedrooms, a study and large reception room all finished to an excellent standard, this Brixton flat would make a superb home for professional tenants. The block itself is well maintained, as is the surrounding area, and lies just 400 yards from Brixton tube (Victoria Line). 

Available for offers in excess of £375,000, the flat would fetch £475 per week in the current rental market offering an attractive yield of 6.6%. 

If you're thinking of purchasing a buy-to-let or development property then why not ask my opinion with no obligation? Email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

How much? £144,000 annual salary needed to buy in Wandsworth.

I came across this article in The Wandsworth Guardian this morning and thought it was worth sharing. In order to buy an average Wandsworth property, an individual or family has to earn an annual household income of £143,534. 

Northcote Road in Battersea

The stats are perhaps slightly exaggerated. In the current sales market the average buyer usually has a deposit considerably higher than the 5% quoted, often supported by The Bank of Mum and Dad who worry that it's a case of "now or never" for their child to get on the property ladder. Regardless, the figures are still staggering.

The good news for buy-to-let landlords is that with more and more young professionals and families resigning themselves to renting for the foreseeable future, there are excellent opportunities for both high rental yield and capital growth. If you come across a property that interests you on Rightmove or Zoopla, send the link to me at kevin@xandermatthew.com and I'll be happy to give you my honest opinion. 

Location, Location, Location

Moments from Stockwell tube (Northern and Victoria lines), this 2 double bedroom apartment would be ideal for a first time buyer or buy-to-let investor.

http://www.rightmove.co.uk/property-for-sale/property-46850578.html

The property is listed with LudlowThompson for £350,000. Having recently been refurbished, and available chain free, a quick sale seems likely. Two double bedrooms so close to the tube will catch the eye of good quality professional tenants who would expect to pay up to £1,600pcm in the current rental market, offering a 5.5% yield at asking price. 

Thinking of buying, selling or letting? Why not ask my opinion with no obligation? Feel free to email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

Spacious Victorian family home in need of modernisation. Arlesford Road, SW9

This five bedroom Victorian family home has just come onto the market with an asking price of £999,950. Arlesford Road is one of SW9's most desirable streets, within east walking distance to Clapham High Street as well as Clapham North (Northern Line) and Stockwell (Northern and Victoria Lines) tube stations.

http://www.rightmove.co.uk/property-for-sale/property-32847192.html

Split over three floors, and offering four sizeable bedrooms and one single/small double as well as outside space, it would make a fantastic family home once modernised throughout. 

Alternatively, developers will notice its potential to be reconfigured into two properties - a 2 bedroom ground floor garden flat, and a split-level 3 bedroom flat on the upper floors. Finished to a high standard they could be expected to fetch £700,000 and £650,000 respectively in the current sales market. You may need to offer a fair way below the asking price to create a good profit margin, but for a cash offer that might be acceptable.

If you have your eye on a development or buy-to-let opportunity in SW London, feel free to send the Rightmove/Zoopla link to kevin@xandermatthew.com and I'll happily give you my honest opinion. 

Development opportunity, North Side Wandsworth Common, SW18

This Victorian ground floor flat in one of Wandsworth's premier areas, and just a stone's throw from celebrity chef Gordon Ramsay's home, is available via auction this Thursday 30th October, with a guide price of £440,000.

http://www.rightmove.co.uk/property-for-sale/property-46602880.html?utm_content=v2-ealertspropertyimage

Currently arranged as a one bedroom flat, with a generous 756 sq. ft. it has the potential to be reconfigured as a two double bedroom property. The opportunity to do just that and turn a quick profit is obvious, with a comparable two bed flat currently on the market with an asking price of £700,000 (http://ow.ly/Ds9ks).

Thinking of buying, selling or letting? Why not ask my opinion with no obligation? Feel free to email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

Low rise Brixton flat offering high rental yield

This split-level four bedroom flat in Brixton Hill is available for offers in excess of £350,000. In a similar location to Wednesday's blog entry (http://ow.ly/Dhwmk) it offers four good size bedrooms, a reception room and a well designed kitchen and bathroom.

http://www.rightmove.co.uk/property-for-sale/property-48774170.html

Whilst it is around 200 sq. ft. smaller than the New Park Court property, it comes with a much lower asking price and judging by the photographs, appears to be immaculate inside. The property would achieve a minimum of £500 per week in the current rental market offering a whopping 7.4% rental yield if purchased for £350,000. 

Thinking of buying, selling or letting? Why not ask my opinion with no obligation? Feel free to email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

Development opportunity on Hazelbourne Road SW12

One for the developers today. You'll have to act quickly, with final viewings scheduled for tomorrow (24/10) at 10.30am before it goes under the hammer with Savills Auction House on Tuesday 28th October.

Lot 49

http://catalogue.auctions.savills.co.uk/London-National/Online-Catalogue/Default.aspx?st=2#&&s=2

With "four rooms", a kitchen, separate WC, and the potential for a loft conversion to create a split level flat with roof terrace, the guide price of £480,000 represents an enticing opportunity for a savvy developer. I can't comment as extensively as I would like having not inspected it, but knowledge of the area dictates a two bedroom flat would comfortably change hands for £700,000 plus. If the potential exists to get three bedrooms, a roof terrace, and to make the property split-level by converting the loft then there is huge margin to be made.

Hazelbourne Road is an excellent location moments from Clapham South tube (Northern Line) and the A205 South Circular. Clapham Common, Clapham High Street and Balham High Road are all within walking distance.

If you're thinking of buying, selling, or letting a property then why not ask my opinion with no obligation? Feel free to email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

More than meets the eye. Four bedroom Brixton buy-to-let opportunity

This four bedroom flat in Brixton has just come onto the market at £450,000. Whilst not the most attractive property from the outside, internally it offers four decent size bedrooms, a galley kitchen and a large reception room making it ideal for letting sharers, and therefore all you buy-to-let landlords!

http://www.rightmove.co.uk/property-for-sale/property-48325697.html

At the top end of Brixton Hill, the walk to the station is a little more than most would like, but with at least 8 different bus routes running down the hill to Brixton and central London the transport links are significantly better than you may expect. It's rare to come across a four bedroom unit where at least one bedroom isn't compromised and/or a lounge is sacrificed. To get four double bedrooms and a lounge should appeal to tenants and ensure their stay is a happy one. It would comfortably achieve at least £500 per week in the current rental market, offering a yield of 5.8% at asking price.

Got your eye on a buy-to-let property? Thinking of buying, selling or letting? Why not ask my opinion with no obligation? Feel free to email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

Period flat with excellent capital growth prospects, Queenstown Road SW8

This three bedroom period flat is just a two minute walk from Queenstown Road (Battersea) station and has recently come onto the market for £565,000. 

Period properties generally offer fantastic potential for capital growth, but the investment appeal of this location is increased further by the ongoing regeneration of Nine Elms as well as the Northern line extension to Battersea, which is marked for completion by 2020. 

http://www.rightmove.co.uk/property-for-sale/property-48777956.html

In the short term, with two good size double bedrooms and one small double/good single, this property could be expected to fetch £450 per week in the current rental market, offering a decent yield of 4.1% at asking price. Hold onto it for a decade and the capital growth is where you’ll see a huge return.

It makes you wonder why the current owner, having appeared to renovate it, is selling it. Take advantage and grab it from them!

Got your eye on a buy-to-let property? Thinking of buying, selling or letting? Why not ask my opinion with no obligation? Feel free to email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

Two bedroom flat in Clapham SW4, short lease, priced accordingly

Although this flat having a 43 year lease could be perceived as problematic, I’m a positive person and prefer to look at it as a great opportunity for an investor. “Normal” buyers will either be put off or unable to raise finance, so if you are a cash buyer or have a deposit in excess of 50%, you’ll find there is less competition to fight off for this one. My advice would be to take advantage!

http://www.rightmove.co.uk/property-for-sale/property-47984792.html

Once you have ownership, get that lease extended as soon as possible, or run it in conjunction with your conveyancing when purchasing, and you’ll have an asset worth a long way north of what you paid for it before you have even considered adding value with some simple, quick repairs and renovation.

In the short term, with two reasonably sized double bedrooms and nearby transport links at Clapham High Street (London Overground) and Clapham North (Northern Line) the property would achieve £350 per week in the current rental market, offering an attractive yield of around 6%. 

It's worth noting that this property is also available via auction, set to take place on 3rd November 2014, with a guide price of £285,000. http://www.rightmove.co.uk/property-for-sale/property-32651850.html

Got your eye on a buy-to-let property? Thinking of buying, selling or letting? Why not ask my opinion with no obligation? Feel free to email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.

High yield buy-to-let flat, SW9

I've just come across this chain free 3 bedroom split-level flat in SW9. A recent price reduction from £314,950 to £299,950 makes it an even better buy-to-let prospect.

http://www.rightmove.co.uk/property-for-sale/property-46412839.html

Within easy walking distance of Brixton (Victoria Line) and Stockwell (Victoria and Northern Lines) and in a well maintained ex-local authority block, it would comfortably rent for £425 per week after a quick clean and a lick of paint. This offers an excellent rental yield of 7.4% - even better if you can negotiate to below asking price of course! Capital growth won't be as high as other property types, but where else can you get a 7.4% yield for under £300k? The option to then re-mortgage in the near future and draw finance to purchase another could see you operating a small portfolio in no time.

Got your eye on a buy-to-let property? Thinking of buying, selling or letting? Why not ask my opinion with no obligation? Feel free to email me in confidence at kevin@xandermatthew.com or call me on 020 3397 2099.