These two rare investment opportunities came available over the weekend with Allsops and are certainly worth a look! There is a three bed semi on Willow Way with a guide price of £250k which if rented out would achieve approximately £1,250PCM. There is also a two bed terrace on Crossway in the centre of Didsbury with a guide price of £175k which if rented out would achieve £950PCM. There are no internal photo’s of the properties so these predicted rents would be if the properties were well presented inside.
The advent of broadband has dramatically altered our expectations about what we can do from the comfort of our own home. The ability to buy groceries, order a new dress, stream HD movies, make video calls and download files all at the same time has changed the way we think about where we live. With that in mind, it is no surprise that broadband speeds play an important role in house-hunters and landlords’ decisions when looking for new homes or buy-to-let properties.
Research by internet service provider KC suggests that three out of four people take broadband speeds into account when choosing a home. Rightmove certainly agree, with results of their recent survey indicating that people now value broadband speeds just as much as a property’s proximity to a good school or transport infrastructure.
Of course, out of everyone it is the younger generation who place the most emphasis on internet speeds, with Rightmove reporting that 18 to 35 year olds are influenced by how fast a connection is. Around half of this age bracket say they would reconsider a property if they found that the connection speed was inadequate for their needs.
As the world becomes ever smaller and more integrated via the web, there is a greater amount of people working from home instead of commuting to an office. ONS reports that the total figure of home-based workers in the UK is currently 4.2 million; nearly 14% of the entire UK workforce. In M20, 4.7% of the workforce works from home, equivalent to around 1,250 people. Those who do work from home might not have to worry about the daily grind when commuting to work, but they will want to make sure their internet speed does not cause them a daily headache.
Even for those not working from home, broadband has become an essential part of everyday life. Video messaging services like Skype and FaceTime have changed the way we communicate, while live streaming of music and movies on sites like Spotify and Netflix has made the need for an uninterrupted internet connection that much more important.
A survey conducted for the Halifax showed that over 20% of people surveyed would be willing to pay more for a property with a fast broadband connection than for one without. Broadband provider Hyperoptic also recently found that people were willing to pay up to 11% more for a property with 100Mbps broadband speeds. Given the average property price in M20 is £262,400, this equates to an additional £28,900. Hyperoptic also found that 60% of the people they spoke to said an internet connection was more important than having a garden, or good neighbours. These results just go to show what an important role superfast broadband plays in people’s lives.
This property is in need of full renovation but there is great scope to add value! Marketed by Gascoigne Halman for £180,000 this house once renovated would rent for £1,000PCM and could sell for approx £240-260k depending on what work you did to it and if it was extended. Located close to Withington village and the train station, Parrs Wood Road is a very popular location and this property has fantastic potential…
This is a lovely one bedroom apartment on a very desirable road in West Didsbury marketed by Jordan Fishwick for £130,000. These properties are in high demand and would achieve a rent of £650PCM giving an annual yield of 6%. Within walking distance of Burton Road and with off-road parking and nice views over the communal gardens this property is well worth a look…
This property would make an excellent buy to let and would be suited to a family wanting to be in the desirable M20 area of South Manchester. Marketed by Bridgfords for £160,000, this house with some cosmetic improvements, would rent for £800PCM giving an annual yield of 6%. This area of Withington is close to Fog Lane Park, train stations and local amenities making this a great investment property and well worth a look..