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Saturday 22 December 2018

Our Southampton Buy 2 Let deal of the week

This city centre two bed flat has just come on the market at £180k. It is a good size unit at 700 sq.ft and benefits from under-croft parking, balcony and en-suite. Its lease has 114 years to run with property costs coming in at £950 p.a. Rental income will be c£875 per month. Gross yield is good at 5.8% and this nets down to 5.3% after direct property costs. Brexit or no Brexit it is a tidy buy 2 let. Full details can be found here…/property-77947922.html

Wednesday 19 December 2018

Midanbury Lane, Southampton …the road where people move the most

Many folks say moving home is the most stressful thing. Moving home is like someone (and that someone is usually you and you are the cause of this devastation) has collected all your worldly goods, put them into brown boxes and into a lorry making your whole life look like a Amazon delivery van, only to spend the next six months unpacking it all, whilst unable to find important things like your bank cards, ‘those’ shoes or special jewellery!

We wish we could be instantly transported like in Star Trek “Beam me up Scotty to a blissful moved in state”.  Yet the week you move, it’s like an episode from the original 1960’s series Star Trek, when the crew had a transporter accident with an ion-storm sends Kirk and Spock into an alternate reality, where the caring Federation is the merciless Terran Empire, and the USS Enterprise is a warship and chaos eschews!!!

Star Trek aside, when you decide to move and before the stress of living out of cardboard boxes for months descends; first you trawl the portals (Rightmove/Zoopla/On The Market) to find a new house, which out of the hundreds of properties available to buy, you will probably only view around four or five of them, for no more than 20 minutes each. Then, you will arrange a second viewing of one or two of those initially viewed properties for the estate agency industry stated average of 30/45 minutes maximum (fascinating when you think most people take hours to decide what clothes or shoes to buy but minutes to spend hundreds of thousands of pounds on their next home!).  Then you put your property on the market with an estate agent, find a buyer for your Southampton property, agree a price for both, then instruct solicitors. The property becomes sold ‘subject to euphuism’ ... sorry ‘contract’ … as solicitors and surveyors and mortgage companies pick holes in the paperwork, threatening to wreck the chain at any moment, whilst you can’t get too attached to the property you want to purchase in case the sale falls through … phew - stressful or what??!!

Is it worth it? Worth the stress? The brown cardboard boxes? Well many Southampton people think so.

In the last 12 months, 461 families have sold and moved home in the Southampton SO18 area

Yet the question I want raise is ... do people on certain streets in the SO18 postcode move more often than others? Well, the answer might surprise you. I looked at the Land Registry for all the property sales going back 23 years (to 1995) in the SO18 postcode whilst also calculating the average value of a property on a particular street/road (to see if there was a correlation between price and moving). So initially looking at the top 10 streets in the postcode, in terms of pure out and out house sales, Midanbury Lane is the winner with an average of 13.78 house sales per year (since 1995) as on the graph below. 

And to look at the bigger picture, the table below shows the top 25 streets, with the average value of a property on that street.  As you can see, there is no correlation between the average value of a property and the number of times a property gets sold on that street. 

Average Value of a Property
On that Street/Road
Average Number of
Properties Sold per Year (since 1995)
Midanbury Lane
Woodmill Lane
West End Road
Cobbett Road
Bullar Road
Bitterne Road West
Harbourne Gardens
Quayside Road
Dean Road
Manor Farm Road
Duddon Close
Torridge Gardens
Riverdene Place
Thornhill Park Road
Newton Road
Oaktree Road
Edelvale Road
Cobden Avenue
Eden Road
Vespasian Road
Mersham Gardens
Hawkeswood Road
Ash Tree Road
Pound Street
River View Road

However, I still felt the information wasn’t telling the whole story … some roads in SO18 have more properties on than others, so I wanted to then compare the average number of properties sold by the actual number of properties on that street, to find out the streets whose owners proportionally moved (or sold more often) than the rest of the locality.

In the next article, (and I promise I won’t mention Star Trek again), I will answer that question in great depth ... and the results should (as they did me) certainly raise an eyebrow. The question is ... do you live on one the top 25 Southampton most saleable streets in S018?  

Come back to my Southampton Property Blog for the next article to find out!

If you are looking for an agent that is well establishedprofessional andcommunicative, then contact us to find out how we can get the best out of your investment property.

Email me on or call on 023 8001 8222.

Don't forget to visit the links below to view back dated deals and Southampton Property News.

Wednesday 12 December 2018

2 bed, 3 bed or 4 bed homes – Which Sell the Best in Southampton?

A few months ago, I wrote an article on the Southampton Property Blog about the length of time it took to sell a property in Southampton and the saleability of the different price bands (i.e. whether the lower/middle or upper local property markets were moving slower or quicker than the others). For reference, a few months ago it was taking on average 41 days from the property coming on the market for it to be sold subject to contract (and that was based on every Estate Agent in Southampton) … and today … 74 days  .. does that surprise you with what is happening in the UK economy?

Well, a number of Southampton landlords and homeowners, who are looking to sell in the coming months, contacted me following that article to enquire what difference the type of property (i.e. Detached/Semi/Terraced/Apartment) made to saleability and also the saleability of property by the number of bedrooms) As I have said before, whether you are a Southampton landlord looking to liquidate your buy to let investment or a homeowner looking to sell your home; finding a buyer and selling your property can take an annoyingly long time… but anything you can do to mitigate that is helpful to everyone.

So, I did some research on the whole of the Southampton property market .. and these were my findings …  to start with by type (i.e. Detached/Semi/Terraced/Apartment)….

As you can see, the star players are the terraced/town house and semi-detached variants of Southampton property, whilst apartments seem to be sticking in Southampton.

Next I looked at what the number of bedrooms does to the saleability of Southampton property..

… and as you can see the one bed properties seem to be taking the longest time to sell ..and to answer the question in the title .. it’s four bed properties!

So, what does this mean for Southampton buy-to-let landlords and homeowners?  

There is no doubt that there is a profusion of properties on the market in Southampton compared to 18 months ago … it’s not because more houses are coming on to the market, it’s because they are also taking a little longer to sell. This makes it slightly more a buyer’s market than the seller’s market we had back in 2014/5/6. Therefore, in some sectors of the Southampton property market, it is much tougher to sell, especially if you want to sell your Southampton home fast.

Therefore, to conclude, on the run up to the New Year, if you are looking to buy and plan to stay in the buy to let market a long time, perhaps take a look at the Southampton properties that are sticking as there could be some bargains to be had there? Want to know where they are .. drop me a line and I will tell you a nifty little trick to find all the properties that are sticking.

If you are thinking of selling your Southampton home or if you are a Southampton landlord, hoping to sell your buy to let property (with tenants in), either way, if you want a chat to ensure you get a decent price with minimal fuss ... drop me a message or pick up the phone.

If you are looking for an agent that is well establishedprofessional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on or call on 023 8001 8222.

Don't forget to visit the links below to view back dated deals and Southampton Property News.

Friday 7 December 2018

Our Southampton Buy 2 Let Deal of the week

This cracking little unit just goes to show you dont have to spend a fortune to get a great little investment. This large studio has just hit the market today at £95,000. It has been fully refurbed with a new kitchen and bathroom. It is a stones throw to the Central Train Station and a 10 minute walk to West Quay Shopping Centre. We recently let a studio in the block at £560 which would give a gross yield of 7%. Better still it is on a 999 year lease with service charge of £540p.a. Full details can be found here

Wednesday 5 December 2018

The £30,159,309 Ticking Time Bomb for Southampton Landlords

I just love looking over and keeping up to date the 108 pieces of legislation that govern the rental of residential property in the UK”  
...No Southampton Landlord, ever
If you are one of the 9,846 Southampton landlord’s that manages your own property, would it surprise you to know that there are 108 separate pieces of legislation that govern the rental of private houses to tenants. Oh, and on top of the 108 pieces of law, there are further 300+ regulations in the mix. Whilst Southampton landlords may once have preferred to manage their Southampton buy-to-let properties themselves to boost their profits, many Southampton landlords are starting to see this as a false economy.

In the last four years, an additional 3,787 landlords in Southampton have converted from self-managed to having their property managed by a letting agent in Southampton, taking the total number of properties under management in Southampton to 15,401 (out of a total of 25,247 private rental properties in Southampton).

Now, don’t get me wrong, self-managing your Southampton rental property can be a very fulfilling experience, allowing you, as a Southampton landlord, to build a deep relationship with your tenant and your emergency 24 hour plumber, builder (happy to do small jobs at a drop of a hat), decorators, first name terms with their deposit provider, lawyer and EPC provider to name but a few. (Wow!)

Also, did you know if your tenants deposit isn’t registered, or doesn’t continue to be registered after the end the periodic tenancy upon renewal ... you could be fined up to three times your deposit? With the average rental deposit in Southampton being £1,021, each self-managed landlord in Southampton could be fined £3,063 per tenancy if the deposit isn’t currently registered. Therefore...

...if every deposit of every Southampton self-managed landlord’s property wasn’t registered, the total fines would amount to £30,159,309
Now of course, I am not suggesting for one minute all the self-managed landlords of Southampton haven’t registered their deposits, yet almost on a daily basis, I come across horror stories to that effect. Another two (but by no means all) hot issues that the Courts are cracking down on, are doing immigration ‘Right To Rent’ checks on all tenants (yes all tenants) and confirmation proving the tenant received the ‘How to Rent’ guide. If that second issue cannot be proved (a ‘sent’ email won’t suffice), the landlord cannot serve the section 21 Notice, meaning the tenant cannot be served notice to vacate the property.

To many, it’s really a case of DIY or getting a qualified professional in … as those additional Southampton landlords mentioned above have done since 2014. You might say, “Of course you are going to say all this – you are a Letting Agent”. Well the choice really comes down to your time and your knowledge. If a Southampton landlord is not equipped, or able, to devote time keeping up-to-date of legislation and law nor doesn’t want to be bothered 24/7/365 about a blown light bulb, dripping taps, have that confrontational conversation with their tenants about missing rental payments, or arbitrate arguments and disagreements between your tenant and the neighbours, it is perhaps better to pass this accountability/responsibility onto a letting agent.

One thing I would say is all letting agents aren’t the same. Would it surprise you to know that letting agents aren’t regulated?

Southampton landlords that do use a letting agent should not forget that passing over management to a letting agent doesn’t mean they can disregard legislation and they are still responsible for deposit/rent repayment legal directives, civil fines or action if the letting agent makes a mistake. Therefore, it’s important to pick a respectable letting agent from the start.

Nevertheless, for those Southampton landlords that see their job as a professional landlord and want to be intricately involved in the day to day administration of their rental properties, it can be worthy pursuit.

If you are a self-managed landlord in Southampton, and want to know if your paperwork is in order please feel free to drop me a line and I am more than happy to do an ‘MOT’ on it to ensure you are the right side of the law.

If you are thinking of selling your Southampton home or if you are a Southampton landlord, hoping to sell your buy to let property (with tenants in), either way, if you want a chat to ensure you get a decent price with minimal fuss ... drop me a message or pick up the phone.
If you are looking for an agent that is well establishedprofessional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on or call on 023 8001 8222.

Don't forget to visit the links below to view back dated deals and Southampton Property News.