Monday 29 February 2016

11.5% yield for 3 bed flat in Falkirk


I am going back in time for today’s buy to let opportunity in The Falkirk Property Blog but at a yield of 11.5% it is worth it.

When I am looking for buy to let opportunities on the sales portals I often look at the latest properties that have been put on but today I did something a wee bit different and looked at the properties that had been on the market for a long, long time.  Today’s buy to let opportunity was first marketed in October 2014; yup over 2 years ago.

The property is a top floor 3 bedroom flat in Haugh Gardens.  Haugh Gardens is a cul de sac off Haugh Street which is of Carron Road. The flats is in a 1950’s block and it is an ex Council property.

This apartment has a good sized lounge, an almost fitted kitchen with a balcony off it, three decent sized bedrooms and a bathroom with a bath and shower over it.  There is double glazing, gas central heating and off street parking.  The flat needs a wee bit of TLC – let’s say this will cost you £3,000.



The asking price for this property, which is on the market with Your Move, is offers over yesterday.  As I said earlier, it has been on the market since October 2014 so let’s say it sells for £52,000 which, once you add in the £3,000 TLC spend, gets you to a total spend of £55,000.  Based on our experience of renting this type of properties in this area, you should get a rent of £525 pcm on this property.

So that gets you to a yield of 11.5%.

If you would like to explore how we can help you with your property investments, or should you require any advice about investing in the Falkirk property market, wish to enquire about our Investment Analysis Reports, Property Sourcing, Residential Lettings or Property Management services, please do not hesitate to pop in an see us in our new office at 6 Vicar Street, Falkirk or contact us by phone on 01324 469840 or by email at falkirk@thekeyplace.co.uk.

Friday 26 February 2016

Very keen seller for easy to rent 2 bed flat in Falkirk?


Here at The Falkirk Property Blog we track properties continuously so we are able to spot properties which are ‘sticking’ on the market that are ripe for price negotiation.  Today’s property is one of these – the price of this property has been dropped twice over the past few months so the seller is clearly ‘very keen’.

The eagle eyes amongst you will know that I have highlighted this property before on The Falkirk Property Blog but yesterday’s price drops make it worth mentioning again.

The property is a 2 bedroom flat in Fairfield Place.  Fairlfield Place is a fairly modern development off Thornhill Road near Forth Valley College so it is within walking distance of the town centre and the railway station, perfect for the commuting tenant.

This apartment has a good sized lounge, a fitted kitchen, too decent sized bedrooms and a bathroom with a bath and shower over it.  There is Upvc double glazing but on electric heating.  There is ample parking and views onto Victoria Park.   



The asking price for this property, which is on the market with Clyde Properties, was reduced yesterday to offers over £54,500.  Given that the seller is clearly keen to sell, let’s say you can get it for £57,000.

Based on our recent experience of renting this type of properties in this area, you should get a rent of £400 pcm on this property.

So that gets you to a yield of 8.4%.

We hope you find our posts useful.  If you would like some advice with your potential investment, please come and see us in our new offices at 6 Vicar Street, Falkirk for a chat, give us a call 01324 469840 or email us on falkirk@thekeyplace.co.uk

Wednesday 24 February 2016

The Falkirk property market outperforms Linlithgow by 27%


A landlord with a small property portfolio came into our new office on Vicar Street earlier this week. He lives in Polmont, and has properties in Falkirk and Linlithgow (although interestingly not Polmont itself but that is a discussion for another day!). He wanted to ask my opinion on where he should his buy his next Buy to Let property.

Looking at Falkirk, the average property price can be an impressive £136,447 and the average rent is £472 per month. In Linlithgow, average property prices are much higher at £227,196 as are average rent at £619 per month. The annual yield in Falkirk could be 4.2% per year, compared to Linlithgow where he could only achieve an annual yield of 3.3%.

It made me consider three other towns close by, Grangemouth, Larbert and Bo’ness. In Grangemouth, I was not surprised to find property values are lower than in Falkirk or Linlithgow, with an average property price of £95,997. They have an average rent of £465 per month, which could achieve an impressive yield of 5.8% which is considerably higher than both Falkirk and Linlithgow. The average price of a property in Larbert is £169,683, with average rents of around £459 per month. This could achieve you a yield of 3.2% per year which is on the low side.  Finally, in Bo’ness the average property prices and rents are £131,367 and £488 respectively which gives a yield of 4.4% similar to Falkirk.

It goes to show our town of Falkirk can be a good area for an investment property, but it is a decision that shouldn't be taken lightly. These are only averages, so the yields for some small to medium sized properties in popular areas of Falkirk can be well in excess of 6% per year and in less popular areas they can be well in excess of 8%.

If you want to know my thoughts on property in Falkirk, come and see me in our new office at 6 Vicar Street, Falkirk – the balloons are out and the cupboards are stocked with coffee and cakes.  Alternatively, call me (01324 489840) or email me (falkirk@thekeyplace.co.uk).

Monday 22 February 2016

Desirable Falkirk terraced house giving a 7.7% yield


For those of you who are looking for an investment property in Falkirk why not take a look at this property below. I personally think it would make a good buy to let investment if you’re looking to add to a rental portfolio or looking as a first time investor. 

This property is a three bedroomed terraced house on Balmoral Street.  Balmoral Street is off Windsor Road near both Bantaskine Primary and Falkirk High Schools making it an ideal family house in a desirable location.  This house has a large lounge/dining room, a fitted kitchen, three good sized double bedrooms and a bathroom with a shower over the bath.  There are gardens to the front and rear and on street parking.




It has been on the market with the on line estate agent, Purple Bricks since early January 2016.

So what do the figures look like; the asking price is offers in the region of £90,000 so let’s say it goes for £90,000.  The rental price per month should be around £575.  This gives you a rental yield of 7.7%.

If you would like to pick my brains about buying for investment purposes, pop into our new office at 6 Vicar Street, Falkirk for a coffee and we can have a chat!  Alternatively, give us a call on on 01324 469840 or email us at falkirk@thekeyplace.co.uk

Wednesday 17 February 2016

How can you find a good property deal in Falkirk?



I was having a cuppa with one of my landlords the other day, when he explained there were no property bargains for him to buy in Falkirk. I politely suggested to him that this was ‘hog wash’ (technical term for ‘surely not true Sir’!) and said that I would find a few examples to show him that there were indeed property bargains to be had, you just need to know where to look. We don’t sell property and don’t charge for our advice so we can give impartial advice without any conflict of interest to our landlords.

Here is what I discovered when I did a bit of digging.

A flat in Melrose Place in Falkirk sold in 2008 for £63,250. In October 2015, it sold again for £45,000, a drop in value of £17,750 or 28.85% over the whole 7 year period or 4.63% per annum! A flat at the Maltings development in Falkirk sold for £88,000 in November of last year. When it was last sold in 2007, it was sold for £133,000 which is a fall in value of £45,000 or 33.83% over 8 years or 4.68% per annum. These are both excellent value properties.

Now I accept that 2008 was the height of the boom so you could argue that the Melrose Place property and, to a lesser extent, the Maltings property are a bit misleading so I delved a bit deeper to find some equally good examples when it was not boom times.  A terraced house in Taylor Court that was bought for £86,500 in July 2013 was sold late last year for £77,000 which a reduction in value of £9,500 or 10.98% over this short period of just over two years or 4.81% per annum.  Whilst a semi detached house in Corrie Place that sold for £80,000 in November 2015 had been bought for £117,000 in 2006, a drop in value of £37,000 or 31.62% over the period or 4.02% per annum.

So there are bargains to be had in Falkirk .... there have been in the past, there are currently and there will be in the future.  The trick is to be able to spot them.  We have detailed information about the Falkirk property market at our finger tips which allows us to spot property bargains that we can recommend to our clients. We don't charge for these recommendations.  

If you want some advice, call us on 01324 628332, come and see us in our offices (29 Upper New Market Street, Falkirk) or email either of us (robert@thekeyplace.co.uk; linda@thekeyplace.co.uk).

Monday 15 February 2016

Falkirk Modern Buy to Let Deal – 6.1% yield


Good morning, I hope you had a nice weekend.

If you are a potential landlord looking to invest in a buy to let property in Falkirk this is one I would recommended to you…

It’s a two bedroom apartment on the fairly new development Creteil Court in Falkirk which is right next to Callander Park.   It is a top floor apartment whose accommodation and location make it ideal for a young professional couple of two professional sharers.


It has very recently come up for sale with the estate agent, Clyde Properties.  Given the type of property it is and its location, I’d give the a call quick to arrange a viewing.
So what do the figures look like; the asking price is offers over £92,500 so let’s say it goes for £97,500.  The rental price per month should be around £495.  To work out the yield you take the annual rent and divide it by the asking price, would see a return of 6.1% which is a fair return given that it is a fairly new property (which means less maintenance costs) in a popular location.

You wouldn’t dream of investing in the stock market without at least looking in the newspapers or taking advice and opinion from others, so why not you the same advice and opinion about buying a buy to let property in Falkirk?  Give us a call on on 01324 628332, email us at robert@thekeyplace.co.uk; linda@thekeyplace.co.uk or pop in and see us at our office on Upper New Market Street, Falkirk. 

Wednesday 10 February 2016

Falkirk’s Woodburn Road property market outperforms Queens Drive’s by 51%


Last week, a couple from Arnothill came in to the office to discuss potentially investing in property for Buy to Let. One of the most important things you will consider before investing is the balance between annual return/yield and the annual value increase/capital growth. Queens Drive, just along from Arnothill, is one of Falkirk’s premier roads to live on. It is one of the most sought after places to live near the centre of Falkirk. The average house sells at around £200,000 and rents are roughly £700 per calendar month.

With this in mind, it was a surprise to find that houses on Woodburn Road, which is just across the main road from the Forth Valley College in Falkirk, have outperformed those on Queens Drive. This is because a house in Woodburn can be bought for around £70,000 and the achievable rents can be around £500 per calendar month.

The yield which could be achieved from property on Woodburn Road is around 8.6% per year. When we compare this to the possible 4.2% on Queens Drive, it is nearly 51% higher in Woodburn Road.

However, we must remember that yield is not the sole consideration when investing in Buy to Let properties. The average value of a house in Woodburn Road in 2005 was £66,636, which has since risen by 5% in the last 10 years. A house on Queens Drive in 2005 was £145,750, meaning the value has increased by 37% in the same 10 years.

Having this detail of information at our finger tips, allows us to spot trends in the local market, which then enables us to give the very best advice to our clients. We don't charge for that advice.  If you want some advice, come and see us in our offices (29 Upper New Market Street, Falkirk) or email either of us (robert@thekeyplace.co.uk; linda@thekeyplace.co.uk).

Wednesday 3 February 2016

What type of property in Falkirk sells the best?


Knowing how saleable a property is half the battle when deciding what (or not) to buy for your next Falkirk property investment. Why?  Well because one day, you may need to sell that property. If you go into the purchase with open eyes, you know most of the risks and can barter the price accordingly if you have to.
Bearing this in mind, last week, a couple from Gartcows popped into our offices to ask about investing in property. Their concern was if we have another property slump (and we will because that is what has happened to the British property market ever since the 1950’s), if they did need to sell, what type of property would be easier to sell. Now everything sells, even during a slump, but I did some research and followed up their query – I was actually quite surprised with the results.

A good guide to judge the saleability of property is the number of properties for sale, compared to the numbers that are sold, subject to contract. Now I carried out this comparison last week, so the numbers will be marginally different today, but of the 16,819 households in Falkirk there are 90 properties on the market for sale. Of those 225 properties, 140 properties are fully available on the open market waiting for a buyer and 85 have buyers and are sold subject to contract. That means 38% of property on the market has a buyer in Falkirk (interestingly in Grangemouth 27% of properties on the market have a buyer, in Linlithgow it is 33% and in Larbert it is a staggering 52%).

However, delve deeper, and in Falkirk today, 39% of terraced houses on the market have a buyer and great news for semi-detached house property owners, as 44% of them have buyers.  Detached houses fair even better, with 20 of the 40 on the market now having buyers (making 50%). The properties that appear to be sticking though are flats at a comparatively low 31%.

We are always giving advice to our existing and new landlords in Falkirk on what to buy (or not as the case may be).  Having this detail of information at our finger tips, allows us to spot trends in the local market, which then enables us to give the very best advice to our clients. We don't charge for that advice as we have plenty of opportunity to earn money by finding the best tenants for our landlords in the years to come on the investments we have advised on.  If you want some advice, come and see us in our offices (29 Upper New Market Street, Falkirk) or email us (falkirk@thekeyplace.co.uk).

Tuesday 2 February 2016

Scope for price negotiation on this 2 bed flat in Falkirk?


Some landlords are insatiable!  One of our landlords, who had only just completed the purchase of a buy to let house in Falkirk a couple of weeks ago, came into our office at 29 Upper New Market Street yesterday asking about my thoughts on this flat that he was looking at.
The property is a 2 bedroom flat at 20 Middlemass Court in Falkirk.  20 Middlemass Court is a modern block of flats in a quiet cul de sac off Grahams Road just down from the Tesco retail park so it is within walking distance of the town centre and the railway station, perfect for the commuting tenant.

This apartment has a good sized lounge, a fitted kitchen, two decent sized bedrooms and a bathroom with a bath and shower over it.  There is double glazing but only electric heating.  There is residents’ parking and the Helix Park is only a short distance away.


Let’s do the maths.  The asking price for this property, which is on the market with Nest Estate Agents, is offers over £59,995.  The adverts show the property being empty and the advert says that it is ‘Priced to Sell’ which means that there may be negotiation on the price but let’s say it goes for £65,000 to be prudent.

Based on our recent experience of renting this type of properties in this area, you should easily get a rent of £425 pcm on this property and £450 may even be achievable.

Based on a price of £65,000 and a rent of £425 pcm gets you to a yield of 7.8%.

Our landlord got quite excited about the opportunity particularly the scope for price negotiation so was off to have a look at the flat.

If you would like any advice on buying a property to let, feel free to pop into our office at 29 Upper New Market Street, Falkirk for a chat, give us a call 01324 628332 or email us on (robert@thekeyplace.co.uk; linda@thekeyplace.co.uk).