Investment properties in Falkirk come in all shapes and sizes

I recently attended a local meeting in Falkirk where I got recognised as being the Falkirk Property Blog chap (well you have to be recognised for something, why not that!).  A question I was being asked repeatedly was ''What is the ideal property to invest in in Falkirk?''.  So I thought I would share my thoughts with you.

When considering a buy-to-let purchase what is believed to be a good deal will vary from person to person.  Everyone will have a different budget and varying preferences on location, style of property, condition etc as well as having different financial situations. That isn’t unusual, no different to everyone who has a different taste in music (I’m a 1980’s person myself with love of Abba if you are interested!).

I have always been of the opinion personally that “spreading the risk” is wise if you have a large portfolio.  A few flats, a few houses, a couple in New Carron Village, a few in Rosebank, some in Gartcows etc, makes sense. All your eggs in one basket is a risk if something unpredicted were to occur.

I am also of the opinion that buying two properties for £85,000 is better than one house at £170,000.  If you choose wisely two properties at £85,000 might rent for £500 a month each, but you’d struggle to find a £170,000 house that would rent for anywhere near £1,000.

Then there is the view that flats change hands more regularly than houses, so for longevity of tenancy buying a house might be wiser. But then these houses are rented by families with children, and children might lead to more wear and tear on the property, the “what if’s” are endless.

Also, you need to be nimble when investing in property and change your investment strategy to take account of market, legislative and tax changes.  Take tax as an example.  It has been well documented that the additional 3% of Land & Buildings Transaction Tax (the Scottish stamp duty to you and me) for buy to let purchases that came into place on the 1st April 2016 is likely to affect the market but opinions vary on how.  What I am seeing ‘on on the ground’ is a change in the requirements of some investors in that they are lowering their budgets and considering smaller properties to avoid paying out more than needed on tax.

One thing is for certain, demand for one, two and three bedroom properties in the rental sector is high which means that there is room to trial many different stratagies.

We have developed a checklist which guide peoples to work out what sort of property is likely to fit their circumstances.  Please get in touch is you want a copy.

In short, don’t assume.  Feel free to get in touch and ask me what I think about your plans. I would be happy to cast an eye over the property you are considering buying and let you know what I think the pro’s and the con’s of it are – you can pop into my office at 6 Vicar Street (the kettle is always on), call me on 01324 469840 or email me on news@thekeyplace.co.uk.

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Falkirk property market together with regular postings on what I consider the best buy to let deals in Falkirk out of the many of properties on the market irrespective of which agent is selling it, then visit my blog, the Falkirk Property Blog, or sign up for our monthly newsletter, the Falkirk Property News.

www.thekeyplace.co.uk

A few more interesting articles about the Falkirk property market:

• A 0.95% Return with The Post Office or a 12.37% Return with Falkirk Buy to Let Property? http://bit.ly/2bH0IzW
• Post Brexit Life in the Falkirk Private Rented Sector http://bit.ly/2bOw05y
• Post Brexit property disaster - more like a ‘soft landing’ so far Nationwide claims http://bit.ly/2bjesNb
• 266% increase in 20 years in Falkirk – interesting, very interesting http://bit.ly/2ahgFNo
• A look at how the Private Rented Sector is performing, Summer 2016 http://bit.ly/2aR3kKN

A 0.95% Return with The Post Office or a 12.37% Return with Falkirk Buy to Let Property?

I had an interesting email from someone in Falkirk a couple of weeks ago, that I want to share with you (don’t worry I asked his permission to share this with you all). In a nutshell, the gentleman lives in Polmont, he is in his mid 60’s and still working. He has a decent pension, so that when he does retire in a couple of years’ time, it will give him a comfortable life. He had recently inherited £180,000 from an elderly aunt. One option he told me was put it into a savings account. The best he could get from a reputable lender was a 2 year bond with the Post Office, which paid 0.95%, meaning he would get £1,710 in interest a year.  One of his other options was to buy a property in Falkirk to rent out and wanted to know my thoughts on what he should buy, but he had concerns as he didn’t want to take a mortgage out at his time of life he was also worried about all the tax changes he had read about in the papers for landlords. 

Notwithstanding the war on Falkirk landlords being waged by both John Swinney and George Osborne/Philip Hammond, the attraction of bricks and mortar endures for many. As our man is a cash buyer, he would not have to deal with the intricate cut to mortgage interest tax relief that will diminish, or even eradicate, the profits of some Falkirk landlords. It’s true he would face the extra 3% in Land and Buildings Transactions Tax (the old ‘Stamp Duty’) to buy a second property, but with some good negotiation techniques, that could soon be mitigated.

I told him that buying a Falkirk buy to let property is all about the total return on investment. True, he could put the money in the Post Office bond and receive his interest of £1,710 a year, or as he rightly suggested, invest in property in Falkirk. The average yield (yield being the equivalent of the interest rate on the property) at the moment in Falkirk is 5.7% per annum, meaning our potential F.T.L (First Time Landlord), should be able to, depending on what he bought in the town, earn before costs £10,260 a year. (However, I told him there are plenty of landlords in Falkirk earning half as much again (if not more), if he was willing to consider more specialist investment types of properties – again, if you want to know where – look at my blog or drop me an email).

The bottom line is this, the success of investing in Falkirk buy to let property versus a savings account with the Post Office (or whatever Bank or Building Society is offering the best rate) will depend on the performance of those assets. Unlike a savings accounts, with property the capital you invested can also go up (and yes, it can go down as well – more of that in second). Property values in Falkirk have risen by, on average, 2.4% per annum over the last five years, meaning that on top of your £10,260 in rent, but also seen an uplift of £4,320 …meaning his overall return for the year would have been £14,580 (not bad when compared to the Post Office!).

...  but the doom mongers amongst you will say, property values can go down, as they did in 2008 and in 1988 and 1979. Yes, but after 1979, prices had bounced back to their 1979 levels by 1984 and went on to grow an additional 58% in the following four years. Then again, they dropped 1988 and did take 13 years to reach back to those 1988 figures, but the following six years (between 2001 and 2007) they then increased by an additional 66%. Now, according to the Registers of Scotland, average property values in Falkirk currently stand 12.4% above the January 2008 (ie pre crash) level, and anicdotal evidence suggests that in the nicer parts of Falkirk, we are well above these sorts of levels. Therefore, all this talk of property crashes seems unfounded.

… and what would that £180,000 get you in Falkirk? A decent terraced house as well as a reasonable flat in many parts of Falkirk ... in fact, the world is your oyster. But which oyster?

If you would like a chat to find out more about investment property and property management in Falkirk please pick up the phone (01324 469840) or pop in (6 Vicar Street, Falkirk) or email (news@thekeyplace.co.uk).

www.thekeyplace.co.uk

A few more interesting articles about the Falkirk property market:

• Post Brexit Life in the Falkirk Private Rented Sector http://bit.ly/2bOw05y
• Post Brexit property disaster - more like a ‘soft landing’ so far Nationwide claims http://bit.ly/2bjesNb
• 266% increase in 20 years in Falkirk – interesting, very interesting http://bit.ly/2ahgFNo
• A look at how the Private Rented Sector is performing, Summer 2016 http://bit.ly/2aR3kKN
• To buy or sell in the Falkirk property market? That is the question http://bit.ly/2abCFX5

Post Brexit Life in the Falkirk Private Rented Sector

The latest report from the Association of Residential Letting Agents (ARLA) shows that the buy to let rental market remains stable post Brexit announcement.

77% of letting agents saw no change in rents as a result of the announcement, whilst 12% of letting agents reported an immediate dip in rent.  This contradicts expectations, as before the result 19% predicted rents would increase, and 20% expected them to fall. 61% thought they would stay the same.

Supply and demand has also so far been unaffected with 67% of letting agents seeing no change in supply and 64% reporting no change in the number of people looking to rent.  Scottish letting agents have reported a surge in interest from landlords in recent weeks, showing the confidence in the Scottish market.

Lenders are continuing to offer very good rates on buy to let mortgages which is proving to be attractive to Scotland’s many landlords and investors, who typically reside within Scotland.

Robert Young, author of the Scottish Property Blog series says “Inch by inch, we are beginning to see what life will be like in the post Brexit vote world and there is evidence that life will continue .... as if it wouldn’t.  There is not enough housing being built to satisfy the increased demand for housing – this supply and demand imbalance will not be fundemantely affected by the aftermath of the Brexit vote, whatever the aftermath may be”.

It is worth bearing in mind that for the majority of people property investment is a long term (10-20 year) strategy.  If this is so, then it is a case of weathering the storm, and things should be OK.  In the long term things will pick up if there is a blip.  Currently buyers are being a little cautious which may present itself as an opportunity as fewer people will be jumping in with both feet.

RICS , the surveyors’ professional body, has published advice on its website to members about valuations post-Brexit.  It strongly implies that surveyors may be in danger of stating too high a price in their valuation reports.  It suggests a form of wording which essentially advises customers that the valuation may not be reliable as the “probability” of that price being achieved in the event of a sale “has reduced”.  So what does this mean for buy to let property investors?  It means that sellers are more likely to be open to price negotiation at the moment so you could ‘bag yourself a bargain’!

In summary, we don’t know what the effect of Brexit will be on the local market yet. We don’t know how long it will take to trigger Article 50 and, once it is triggered, we don’t know how long it might take to sort all of the issues out.  However, if we look at the performance of the rental market (see accompanying newsletter article on the Private Rented Sector) we do know there is a huge and growing demand for rental property.

For now the rental market remains calm, with no immediate fallout.  The government needs to incentivise landlords to stay in the Private Rented Sector, and needs to encourage institutional investors to stay in the market.  If these 2 groups pull away, tenants will be further affected as the lack of supply (which is already chronic) will push up rents.

The Falkirk Property Blog will keep you posted on any post Brexit changes if and when they happen.

www.thekeyplace.co.uk

Post Brexit property disaster - more like a ‘soft landing’ so far Nationwide claims

Nationwide has recently reported that house prices continued to rise 0.5% in July and up by 5.2% annually. Although their chief economist, Robert Gardener, warns that demand could still fall.

"This is the first month's data following the EU referendum. However, it is important to note that, in constructing the index, we use data at the mortgage offer stage, this means any impact from the vote may not be fully evident in July's figures, as there is a short time lag between a buyer making the decision to purchase a property and applying for a mortgage."

"It would be tempting for commentators to assign any trends in the coming months to the impact of the referendum. Housing market transactions were always likely to soften over the summer after the surge in activity in March, as buyers bought forward purchases of second homes to avoid the Stamp Duty levy (Land & Buildings Transaction Tax), which took affect in April."

Commentators and speculators all have differing opinions of how much impact the referendum will have overall but as a result of the tax changes on Buy to Let properties and uncertainty over the economy there will inevitably be an overall softening of the housing market.

The lack of supply and Estate Agents stock levels already being so low has lead to more of a 'soft landing' than a full blow crash. The same is very much true for Lettings, new investment landlords are being generally cautious buying properties until they see how prices fair and tenants are tending to stay to see how much rents will rise or fall, all leading to a lack of supply in the rental sector. This continued lack of supply will inevitably lead to a continued rise in rents and house prices demand continues to outstrip supply.

This has been back up by The National Association of Estate Agents' whose June housing market report found 57% of agents reported a drop in demand and 58% saw supply fall in the week following the vote. However, agents remain positive, predicting this would level out over July.

Mark Hayward, managing director of the NAEA, said “In periods of extreme political and economic uncertainty, the housing market will always respond.  We remain upbeat and need other in the industry to do so as well. The new housing minister confirming his commitment  to building a million new homes will be encouraging for many buyers, especially those looking to buy their first home. Hopefully we should soon see housing market confidence bouncing back to the levels pre-brexit."

www.thekeyplace.co.uk

It’s summer time .... and there are burglars about in Falkirk

When the weather is good, there’s no beating a Scottish summer. It’s the time to enjoy barbecues, outdoor entertaining, children splashing in the paddling pool and balmy evenings.  

However, because there is never any guarantee of really hot weather, British households tend not to have air conditioning, unlike other countries where sweltering summers are inevitable. So when things hot up, we tend to revert to our manual air-conditioning system – we open the windows!

The problem is that we often forget to close them again, or we deliberately leave them open night and day, providing a perfect opportunity for burglars and opportunists to pounce. Indeed, insurance companies report a 21% increase in claims following an unforced entry during the summer months. Small easily-snatched items such as handbags, car keys, mobile phones and jewellery are among the most popular thefts; lucrative for the thief and really, really, annoying to lose. Burglars can be in and out of a property in seconds, often whilst unsuspecting occupants are in the garden or watching television in another room.

To add insult to injury, insurance companies will not usually honour a claim for such theft unless the homeowner has “taken reasonable steps to prevent loss or damage”. An open window is an invitation to a burglar and hardly demonstrates the reasonable care demanded by insurers.

There are obvious yet often overlooked ways of avoiding the anxiety of a summer theft, such as:

• Never leave front doors or windows open or unlocked when you are at the back of your property or in the garden.
• Never leave valuables on windowsills.
• Use restrictors on windows so they can only be opened part-way.
• Regularly review your home insurance needs.
• Support your local Neighbourhood Watch scheme.

May we wish you a happy and secure summer!

www.thekeyplace.co.uk

Why the 2.2% increase in Falkirk prices?

Falkirk’s continuing housing shortage is putting the town’s (and Scotland’s) repute as a nation of homeowners ‘under threat’, as the number of houses being built continues to be woefully inadequate in meeting the ever demanding needs of the growing population in the town.

In fact, I was talking to some friends the other day at a get together and the subject of the Falkirk property market came up in the conversation after the weather and politics. It was said that it used to be that if you went out to work and did the right thing, you would expect that relatively quickly you would be buying a house, you would go on holiday every year and you would save for a pension. But now things seem to have changed. 

At least 30,000 new homes are needed each year in Scotland to tackle the chronic housing shortage this Country has. 

As you can see from the graph above (courtesy of the Office of National Statistics), only 18,285 properties were built in 2015 in Scotland as a whole (split down 12,050 built by private builders, 3,060 built by Housing Associations and a paltry 1,160 council houses).  Also, and perhaps more concerning, is the fact that the last time we build more than 30,000 homes a year was in 1977 (the year of the punk explosion and the Queen’s silver (yes, silver!) jubilee depending on your taste) and we have only built 21,000 homes per year on average over the last 10 years.

The current Scottish Government is helping – they are committed to see the building of 6,000 homes per year on average and are on track to deliver this.  However, this still leaves another 24,000 homes per year to build.

The picture in Falkirk is similar to the Scottish wide trend.

There are simply not enough houses in Falkirk and the shortage of supply has meant Falkirk property values have continued to rise, meaning they are 2.2% higher than 6 months ago despite the Brexit impact on the housing market.

I was taught at school that it is all about supply and demand, this economics game. The demand for Falkirk property has been particular strong for properties in the good areas of the town and it is my considered opinion that it is likely to continue this year, driven by growing demand among buyers (both Falkirk home buyers and Falkirk landlords alike). You see, Falkirk’s economy is quite varied which will help it weather the current economic uncertainties that we are going through.

…and of supply, well we have spoken about the lack of new building in the town holding things back, but there is another issue relating to supply. Of the existing properties already built, the concern is the number of properties on the market and for sale. The number of properties currently for sale in Falkirk is only 257, whilst 12 months ago this figure was well over 400 … a massive drop!

With demand for Falkirk property rising, minimal new homes being built and less properties coming onto the market, that can only mean one thing, now is a good time to be a homeowner or landlord in Falkirk. 

If you would like a chat to find out more about investment property and property management in Falkirk please pick up the phone (01324 469840), pop in (6 Vicar Street, Falkirk) or email (falkirk@thekeyplace.co.uk).

www.thekeyplace.co.uk

A few more interesting articles about the Falkirk property market:

• 266% increase in 20 years in Falkirk – interesting, very interesting http://bit.ly/2ahgFNo
• A look at how the Private Rented Sector is performing, Summer 2016 http://bit.ly/2aR3kKN
• To buy or sell in the Falkirk property market? That is the question http://bit.ly/2abCFX5
• Falkirk property market – evidence that there is life after Brexit vote http://bit.ly/2a4vpii
• Falkirk Buy to Let sees returns of 8.9% in the last year http://bit.ly/2abkMst

14.5% yielding Falkirk BTL property that is definitely worth a look!

The last buy to let opportunity I posted on The Falkirk Property Blog was a KISS one .... it was a really simple buy to let opportunity.  Today’s one is the complete opposite as it is risky and will not be for everybody .... but the rewards all the greater as a result of this!

The property is a 4 bed upper villa in Hayfield in Falkirk.  Hayfield is just the other side of the canal off Bankside.

The property has a large lounge/dining room, an old style fitted kitchen, 4 good sized bedrooms and a bathroom with a shower over the bath.  It has double glazing and gas central heating.  There is an enclosed rear garden and on street parking.

Based on the pictures, the property needed a bit of sprucing up but, gut feel, no more than £10,000 worth of work.

Double click here to get more details about this property

Turning to the financials.

The asking price for this property, which is on the market with Your Move, is offers over £50,000 so let’s say it goes for £55,000.  Adding in for now the gut feel spend needed on the property of £10,000 gets you to total spend of £65,000.

This property is likely to be rented to Housing Benefit tenants – the 4 bed rate is £787.50 pcm.

So that gets you to a whopping yield of 14.5%.

That looks too good to be true I hear you say.  Well, probably not too good to be true for the right buyer but certainly you need to go into this one with your eyes open as:

• The property is being ‘Sold as seen’ which means any issues with property are for the buyer to deal with.  Given this, you need to do more due diligence, and you need to take more serious legal advice, before you buy. 
• The property is effectively a ‘double upper’ (ie first and second floors) with 2 of the bedrooms being in the attic.  This will reduce the number of tenants wanting the property given that it is the sort of property that would suit a large family.
• The property does need work doing to it.  If you are up for this then you would need to access this carefully to work out what needs doing and how much it would cost.  My £10,000 gut feel is just that a gut feel!
• To get this level of rent you are likely to need to take Housing Benefit tenants and you need to be comfortable with this as a landlord.

However, at a yield of 14.5%, it is worth a look!

We hope you find our posts useful.  If you would like some advice with your potential investment, pop into my office at 6 Vicar Street, Falkirk for a chat – the kettle is always – or call me on 01323 469840 or email me on news@thekeyplace.co.uk.

www.thekeyplace.co.uk

A look at how the Private Rented Sector is performing, Summer 2016

New research has revealed that the Private Rented Sector (PRS) is now the biggest form of tenure after home ownership.  Furthermore, it is predicted that growth is going to treble over the next 5 years (Knight Frank).  Currently in the UK around 5.4 million, or 20% of households are being let out to private tenants.

Recent Legal & General research found that brokers in Scotland are the most positive about the future of buy to let, with 63% believing it will remain the same size as last year despite the introduction of the Land & Buildings Transaction Tax (LBTT) and forthcoming changes to tax relief.

The Knight Frank report also states that 53% of tenants favour a six month or one year tenancy on their rental property.  Whilst there are many benefits to a longer tenancy, landlords are paying out around £5 billion because of damage to property and unpaid rent (Access Legal Survey 2015).  Landlords need to bear in mind that when they get their property back at the end of a long tenancy, there will likely be significant wear and tear which will cost money to put right.  This is of course different to malicious damage. See accompanying newsletter article on wear and tear.

The same Knight Frank survey found that for 52% of tenants the key priority in choosing their rental property is finding somewhere close to work or their place of study.  30% of tenants stated that their main reason for moving was to upgrade to a nicer or bigger property.  38% of tenants have lived in 5 or more rental properties; most have relocated within a mile or so of their previous property, however 19% have moved more than 60 miles to relocate for work or study.  This highlights the flexibility people are finding in renting properties.  Overall, a very large percentage of those staying in the PRS are choosing to stay there as renting suits their lifestyle.

Interestingly a quarter of those who are renting think they are not likely to buy a home in the future.  Less than half of those who have expressed a desire to be a home owner are actually saving towards a deposit. 

A quarter of those living in the PRS live alone, 34% are a couple (no children); 43% of 18 to 24 year olds live in a flat share with other young adults.  Looking at age groups within the PRS, in the last 10 years the number of under 45s living in rented accommodation has more than doubled.  The 25 to 34 year age group make up 37% of the PRS.

Looking at the supply of rented properties, the PRS is still made up largely of private landlords, many of whom have more than 1 rental property.  The PRS increased dramatically in the 1990’s along with the increased availability of buy to let mortgages.  Current buy to let mortgage products are very attractive, drawing new investors into the market and allowing existing landlords to expand their portfolios.  Predictions are that the market is set to continue growing.  It is likely that we will also see an increase in large-scale institutional investors within the PRS, building purpose built rental properties.  This is common in other countries, where rented accommodation is a specific asset class.

All of the above confirms the seismic shift there has been over recent years in the PRS.  More people are renting and this is set to grow.  Tenants are choosing to make rental properties their long term homes.  Fewer people are considering buying their own home.  And there is a great deal of confidence that buy to let will remain strong in 2016 and beyond.

For information and advice on buy to let contact The Key Place now.

www.thekeyplace.co.uk

266% increase in 20 years in Falkirk – interesting, very interesting

You find me in a reflective mood today as I want to talk about the future of investing in property in Falkirk. The truth is that we have got fat and lethargic, with many people having mistaken the ever rising Falkirk (and in fact the whole of the UK) property market since the 1960’s as the eternal gift that kept giving as property prices constantly rose and doubled every five to seven years.

The days of making money from property as easy as falling off a log, like taking candy from a baby are sadly over my Falkirk Property Blog reading friends

With George Osborne and John Swinney having decided now is the time to milk the ‘Golden Cow’ of UK’s private landlords, with changes in taxation for buy to let property, and the UK having voted to leave the EU, many pundits are predicting the end of buy to let as we know it. However, it is still possible to make a reasonable, profitable and safe return on property with these changes. You see, I have always seen investing in the Falkirk buy to let market (as I would anywhere in the UK), as I might see Mother Nature, creating some truly wonderful stunning warm weather but at the same time, she will bite, creating catastrophic situations such as snowstorms and hurricanes.  You need to study the market, take advice and opinions from many people and then decide what the proverbial property weather will be … remember, tenants will always want a roof over their head and I don’t see the Scottish Government building the millions of houses required to house them?

Nobody knows the future, and yes people can predict but I wouldn’t be afraid of this change ..... because as a famous French proverb says (I told you I was a reflective mood today), ‘the more things change, the more they stay the same’.  I mean, no one could have predicted how the property market has changed in Falkirk over the past few years? Fifteen years ago, 31,692 households (meaning 60.5% of property) were owned, 15,513 (or 29.6%) were rented from the Council and only 1,412 households were privately rented (meaning 2.7% of property was rented out by private landlords). Roll the clocks on and the change has been seismic ….. 36,640 of properties in Falkirk are now home-owners (64.7% of a higher number of properties in total), only 12,716 or 22.5% are rented from the Council (a huge fall of 29.6%) and the jump in private renting has been out of this world, as 4,124 properties are now privately rented, proportionally 7.3%).

Also, if you had asked someone in 1996 to predict what would happen to property values over the proceeding 20 years (ie between 1996 and 2016), they might have predicted similar growth to the growth experienced over the previous 20 years (ie between 1976 and 1996), which was a very impressive 351.55%. Yes, property values in Falkirk have increased over the last 20 years (between 1996 and 2016), but by a more modest 265.94% (and most of that can be attributed to house price growth between 2000 and 2006).

The property market is constantly changing and buy to let for too long has been heavily dependent solely on house price growth, where yield has been almost forgotten.  I see the changes in tax and landlord & tenant law and the uncertaitly caused by the EU vote in a different perspective to the doom-mongers and see it as bringing many opportunities. You might need to change your buy to let benchmarks, your approach to financing or even consider places other than Falkirk in which to invest your money, but this will shine a light on investing in properties with healthier yields and create more realistic long term buy to let opportunities, instead of short term growth bets and wagers ..... this is what The Bank of England wants.

The advice I give to my landlords, and you my blog reading friends is this: these changes will make some landlords panic, meaning competition for decent Falkirk buy to let bargains will reduce as fear of change kicks in and amateur investors flee the market. These opportunities will provide a more stable platform for knowledgeable and wise Falkirk buy to let landlords to thrive in. 

If you would like to pick our brains about buying for investment purposes, please call me on 01324 469840, pop into my office at 6 Vicar Street, Falkirk or email me on news@thekeyplace.co.uk.

www.thekeyplace.co.uk

A few more interesting articles about the Falkirk property market:

• To buy or sell in the Falkirk property market? That is the question http://bit.ly/2abCFX5
• Falkirk property market – evidence that there is life after Brexit vote http://bit.ly/2a4vpii
• Falkirk Buy to Let sees returns of 8.9% in the last year http://bit.ly/2abkMst
• Falkirk Property Market – Reflections Two Weeks After The Referendum http://bit.ly/29vQFOK
• Post EU referendum – wi
• ll history repeat itself in the Falkirk property market? http://bit.ly/2922wPP

And so it came to pass to the Falkirk property market ....

In my 29 June 2016 posting on the Falkirk Property Blog, I suggested that post the Brexit vote there would be softness in property prices.

And so it has came to pass .... RICS, the surveyors’ professional body, has published advice on its website to members about valuations post-Brexit.  It strongly implies that surveyors may be in danger of stating too high a price in their valuation reports.  It suggests a form of wording which essentially advises customers that the valuation may not be reliable as the “probability” of that price being achieved in the event of a sale “has reduced”.

So what does this mean for Falkirk buy to let property investors?  It means that sellers are more likely to be open to price negotiation at the moment so you could ‘bag yourself a bargain’!

www.thekeyplace.co.uk

A few more interesting articles about the Falkirk property market:

• To buy or sell in the Falkirk property market? That is the question http://bit.ly/2abCFX5
• Falkirk property market – evidence that there is life after Brexit vote http://bit.ly/2a4vpii
• Falkirk Buy to Let sees returns of 8.9% in the last year http://bit.ly/2abkMst
• Falkirk Property Market – Reflections Two Weeks After The Referendum http://bit.ly/29vQFOK
• Post EU referendum – will history repeat itself in the Falkirk property market? http://bit.ly/2922wPP

And so it came to pass to the Falkirk property market ....

In my 29 June 2016 posting on the Falkirk Property Blog, I suggested that post the Brexit vote there would be softness in property prices.

And so it has came to pass .... RICS, the surveyors’ professional body, has published advice on its website to members about valuations post-Brexit.  It strongly implies that surveyors may be in danger of stating too high a price in their valuation reports.  It suggests a form of wording which essentially advises customers that the valuation may not be reliable as the “probability” of that price being achieved in the event of a sale “has reduced”.

So what does this mean for Falkirk buy to let property investors?  It means that sellers are more likely to be open to price negotiation at the moment so you could ‘bag yourself a bargain’!

www.thekeyplace.co.uk

A few more interesting articles about the Falkirk property market:

• To buy or sell in the Falkirk property market? That is the question http://bit.ly/2abCFX5
• Falkirk property market – evidence that there is life after Brexit vote http://bit.ly/2a4vpii
• Falkirk Buy to Let sees returns of 8.9% in the last year http://bit.ly/2abkMst
• Falkirk Property Market – Reflections Two Weeks After The Referendum http://bit.ly/29vQFOK
• Post EU referendum – will history repeat itself in the Falkirk property market? http://bit.ly/2922wPP