Private Renting in Aylesbury increases by 484.23% in 20 years

What is the future for investing in property to let in Aylesbury? The truth is that many investors have become lethargic, with many having mistaken the ever rising Aylesbury (and in fact the whole of the UK) property market since the 1960’s as the eternal gift that keeps giving as property prices constantly rise and double every five to seven years. The days of making money from property as easy as falling off a log, are over . 

Whilst our dear friend George Osborne has decided now is the time to milk UK’s private landlords, with changes in taxation for buy to let property, 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 when these changes commence. I have always seen investing in the Aylesbury 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 property weather will be … remember, tenants will always want a roof over their head and I don’t see the Government building the millions of houses required to house them.

 

Nobody knows the future, and yes people can predict but I would not be afraid of this change... because as a famous French proverb says, ‘the more things change, the more they stay the same’.  No one could have predicted how the property market has changed in Aylesbury over the last couple of decades? Looking specifically at the Aylesbury Parliamentary Constituency, twenty years ago, 27,875 households (meaning 69% of property) was owned and only 1,049 households were privately rented (meaning 2.6% of property was rented out by private landlords). Roll the clocks on twenty years and the change has been substantial … Now 29,915 of properties in the Constituency are home-owners (69.15% being owner occupied) but the jump in private renting has been out of this world, as 6,538 properties are now privately rented (proportionally 15.19%). Neighboring Constituencies show similar changes as well. 

Who would have predicted in 1995 that the private rental sector in Aylesbury would have grown by 484.23% in the proceeding 20 years?

 

Also, if you had asked someone in 1995 to predict what would happen to property values over the proceeding 20 years (i.e. between 1995 and 2015), they might have predicted similar growth to the growth experienced over the previous 20 years (i.e. between 1975 and 1995), which was a very impressive 351.55%. Yes, property values in Aylesbury have increased over the last 20 years (between 1995 and 2015), but by a more modest 267.39% (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 has often been heavily dependent solely on house price growth, where yield has taken a back seat.  I see the changes in tax and landlord/tenant law in a different perspective to the doom-mongers and see it as bringing many opportunities. You might need to change your buy to let outlook, your approach to financing, but this will shine a light on investing in properties with healthier yields and create realistic long term buy to let opportunities, instead of short term growth bets and wagers.

The advice I give to my landlords… these changes will make some landlords panic, meaning competition for attractive Aylesbury buy to let bargains will reduce as fear of change kicks in and uninformed investors flee the market. These opportunities will provide a more stable platform for knowledgeable Aylesbury buy to let landlords to thrive in.

 

 If you want to learn more about the Aylesbury Property Market pop in to my office in Temple Street for a coffee and a chat or failing that, visit the Aylesbury Property Blog, where you will find many more articles like this ...solely on the topic of the Property Market in Aylesbury  http://theaylesburypropertyblog.blogspot.co.uk/

 

 

Sunny afternoon walks on Fairford Leys

Aylesbury Buy to Let sees returns of 13.03% in 2015

As the New Year celebrations fade as a distant memory and we all struggle to stay on track with those resolutions made it is  frightening to realise that we are already well in to February. Scary! At the weekend I met up with an old school friend I had not seen for 30 years. We both still live in Aylesbury but our paths have not crossed until recently. Turns out he has built a small property portfolio locally and is considering another purchase so it was not long before we found ourselves discussing the local market. His goals are similar to myself and most of my landlords…enhance retirement income, hope to have a strong enough portfolio to help the children get on the ladder when the time comes and see a small monthly return in the meantime.

 Before I could advise him, I reminded him that the most important thing when considering investing in property is finding Aylesbury property with good rental yields for income return, yet at the same time, it must have the potential for capital growth from rising house prices over time. Going further into 2016, Aylesbury landlords will be under more pressure to find the best combination of yields and capital growth, as extra stamp duty charges for buying properties and a squeeze on mortgage interest relief will raise their costs.

Before we look at yield and capital growth, one important consideration that landlords tend to overlook, is the possibility of future rent increases. Interestingly, the average rent of an Aylesbury property currently stands at £919 per month, which is a rise of 6.0% compared to twelve months ago (although it must be noted this rise in rents is for new tenancies and not existing tenants).

Anyway, back to yield and capital growth, the average value of an Aylesbury property currently stands at £305,100, meaning the average yield stands at 3.15% per annum, which on the face of it, many landlords would find disappointing.  That is the problem with averages. If I were to look at say 2 bed houses in Aylesbury which are the sort of properties a lot of landlords buy, in Aylesbury, the average value of a 2 bed house is £239,700. The average rent for a 2 bed house is £865 per month, giving a yield of 4.33%. However, if that is not high enough for you, there are landlords in Aylesbury who own some specialist properties with specialist tenancies, that are achieving nearly double that yield – again it comes down to your attitude to risk and reward (give me a tinkle if you wanted a chat about those sorts of properties – although they can be fun and games!).

Ultimately most investors want to be making gains from both rent and house price growth. When combined, the rental yield and capital growth gives you the return on investment, and that is what I told my old school friend. Return on investment is everything (ROI). Property values in Aylesbury have risen in the last year by 8.7% …. which means the current annual ROI in Aylesbury for a typical 2 bed house is 13.03% a year .... not bad.

Whether you are a soon to be new landlord or existing seasoned landlord in Aylesbury, you might be interested in a blog about the Aylesbury Property market, where you will find similar articles to this one about what is happening in the Aylesbury Property market http://theaylesburypropertyblog.blogspot.co.uk/

See, I can be well behaved!

I will soon be running a drop in clinic for landlords giving you access to a wide range of property advice from accountants and other property professionals and exclusive packages, details to appear here on the blog soon. Held at our office space will be limited.

Doom and gloom for Aylesbury property investors?

One of my landlords rang me last week from Stone, after he had spoken to a friend of his. Over the last few weeks, they have been discussing the Aylesbury property market and neither of them could make their mind up if it was time to sell or buy property. If you read the newspapers and the landlord forums on the internet, there is a good slice of doom and gloom, especially with changes in the taxation towards landlords, new legislation on checking tenants and the general uncertainty in the world economic situation. 

There are landlords in Aylesbury who have borrowed heavily in the last few years with high percentage loan to value mortgages. Those landlords with a modest profit will start to suffer, as their modest monthly positive cash flow/profit, i.e. income (rent) less costs (mortgage, fees, tax), will become negative as the tax and mortgage rates rise throughout 2017 and beyond. It is these landlords that are most likely to sell some of their portfolio before the new tax regime begins.

 

There are landlords who have treated the Aylesbury Buy to Let market as a sure bet and have not approached it as a business. They will struggle in the new environment of higher taxes and interest rates. These are the people who will be thinking twice. I see lots of opportunity for the informed investor; it is going to be an exciting year ahead. 

Gone are the days when you could buy any old house in Aylesbury and it would make money.  Yes, in the past, anything in Aylesbury that had four walls and a roof would make you money because since WW2, property prices doubled every seven years. 

 

Since January 1997, the average price paid for an Aylesbury apartment has risen from £36,059 to today’s current average of £151,070 in the town, an impressive rise of 319% .Terraced houses have risen in the same period, from £55,268 to £238,011, an even better rise of 331%. However, look back to 2005, and in that year, the average flat was selling for £131,854, meaning our Aylesbury landlord would have seen a modest rise of 19% and the terraced owner would have seen an increase of 72%, as they were selling for on average £137,077 ... not bad until you consider inflation. 

Since 2005, inflation, i.e. the cost of living, has increased by 33.4%. That means to retain its value, Aylesbury terraced property bought for £137,077 in 2005 needs to be worth £182,818 today. Therefore, our landlord has seen the ‘real’ value of his property only increase by 38.6% (i.e. 72% less 33.4% inflation). 

 Therefore, it is sensible that anyone considering investing in property carries out some serious research using independent investment expertise. An agent you are buying from is going to tell you what you want to hear not what you need to know! You can still make money by buying the right Aylesbury property at the right price and finding the right tenant. However, remember, investing in Aylesbury property is not only about capital growth, but also about the yield (the return from the rent).

 It’s also about having a balanced property portfolio that will match what you want from your investment – and what is a ‘balanced property portfolio’? Well we discuss such matters on the Aylesbury Property Blog ...  it might be worth a few minutes of your time looking at the historic articles?  http://theaylesburypropertyblog.blogspot.co.uk/

 

What are we waiting for? C'mon lets go!

What has my landlord in Stone decided to do? He is looking to buy property before the Stamp Duty thresholds change in April.

Oppurtunities do still exist in the Aylesbury property market.

I recently tipped off readers about the apartment we had available in Hilda Wharf at the bottom of the High Street next to the canal. The response was considerable and we agreed an asking price sale very quickly. Another one has now come to market with  Hursts Estate Agents

http://www.rightmove.co.uk/property-for-sale/property-57649655.html

Also interesting is  Lot 65 appearing in the 18th February Allsop Auction

http://www.rightmove.co.uk/property-for-sale/property-52838167.html

Two studio apartments being sold occupied with AST's in place as one lot. Hard to tell condition from the agents details but the location is close to town and rental would not be a problem.

If these are of interest you would need to contact the selling agents direct , not me.
If you would like to talk facts and figures through please give me a call, as always if you are passing I am happy to put the kettle on!

Beat the tax trap by owning buy to let properties in Aylesbury through a company

From time to time I come across articles that are worth sharing with landlords. On this occasion Keith Witchell has agreed I can post his article for your benefit on the Aylesbury Property Blog...

Following changes to tax relief for buy to let properties announced in last year’s Summer Budget, individuals that own rental properties are being hit hard. Here’s a quick re-cap of the forthcoming changes:

·	Tax relief for mortgage interest on a buy to let property to be restricted to 20% by 2020;
·	10% wear & tear allowance for furnished lettings to be scrapped from April 2016

In addition we have the 3% stamp duty hike on second properties which arrives in April and, although this equally applies to limited companies (in most cases), it is fair to say that higher rate taxpayer property owners are being targeted by the taxman.

So what can you do about it? One option is to own properties through a limited company, which pays 20% tax on its rental profits and is not affected by the mortgage interest relief restriction mentioned above.

In the past owning properties through a company was not tax efficient in most cases, due to the much feared double tax on the increase in value of the properties when sold. This is because the company will pay Corporation Tax on any capital gain made when it sells a property PLUS the shareholders would pay income tax (in most cases) when they withdraw the profit as dividends. This compares unfavourably to the capital gains tax that an individual property owner would pay.

However, there have been lots of changes over recent years that make property ownership via a company more attractive.

Firstly, companies get indexation allowance which allows property values to increase by a measure of inflation (linked to RPI) before any tax is due on the increase in their value. Individuals do not get indexation allowance, although they do benefit from the Capital Gains Tax annual exemption.

Secondly, if rental profits are not used to supplement income but instead are saved up to buy further properties, then company ownership works well as Corporation Tax is at 20% and there would be no personal tax for the company owners to pay. Compare this to 40% tax on rental profits for many investors and the company structure starts to make real sense.

Thirdly, we have the new dividend allowance. From April 2016, even higher rate taxpayers can earn up to £5,000 a year in dividends tax free. So if the investor is a higher rate taxpayer already and they are not using the dividend allowance on any other shares, then holding their properties via a limited company allows them to withdraw some money from the company tax free each year, effectively meaning the tax on rental profits remains at 20%.

Fourthly, the Corporation Tax rate is due to reduce from 20% to 18% by 2020.

Taking the above factors and then adding in the changes to mortgage interest relief for individual property owners really builds a case for company ownership. Plus it is a very flexible structure, allowing other family members to hold shares.

In addition, for people who already have a trading company and intend to use funds from that company to invest in buy to let properties it often makes sense to form a group of companies with a separate property company that sits alongside the trading company. By doing so the funds for the purchase do not need to be withdrawn from the trading company and therefore personal tax can be avoided, while the properties are effectively ring fenced from the trading activities.

So are there any downsides? The main downside is that the property company will need to prepare annual accounts and file these at Companies House together with an Annual Return, plus a Corporation Tax return will need to be prepared and submitted to HM Revenue & Customs. This all represents an annual administrative burden/cost which is likely to outweigh the tax benefits of company property ownership for those with only one or two properties. However, for those with three or more properties the company ownership model really starts to make sense.

A further downside is that there are fewer mortgage lenders that will lend to limited companies and therefore interest rates tend to be higher. However, with more and more people looking to own properties via a company demand is increasing and more lenders are expected to enter the marketplace which should drive interest rates down.

Is there anything else to consider? One important point is that if you already own properties personally then transferring them to a company will generally be subject to stamp duty based on their current market values (with a 3% hike in stamp duty rates from April!). Capital Gains Tax is also triggered, although this can be avoided in some cases using incorporation relief.

Keith Witchell

Keith Witchell ACA FCCA CTA

kwitchell@krwaccountants.co.uk

What does the Aylesbury tenant look like?

“What does the Aylesbury tenant look like?” asked one of my landlords from Lower Hartwell yesterday. He carried on before I could reply, “Let me guess, a professional couple, both in their 30’s, flawlessly tidy, pays their rent early, do not complain or fuss, who has no plans to move and cheerfully accepts annual rent rises”!

Before I can answer that question properly, I have always believed all a landlord wants (and expects) of their tenants is that they pay their rent on time and look after the property as if it were their own. In return, the tenant expects the landlord should provide a property that is warm, clean, modern and damp free and resolve any issues (such as repairs) quickly and without fuss. 

Back to the tenants – tenants tend to fall into several groups ... 20 something professionals; young and middle aged families; corporate tenants (i.e. their employer finds their employee a house to live in); students; older singles/couples and housing benefit claimants – and they come with different needs and wants. So choosing who best suits your Aylesbury property – and steering clear of those tenants that do not match your criteria – is a big factor in making property investment a success.

One topic that I am often asked is should a landlord, accept tenants on housing benefit?

It might interest the landlords of Aylesbury that of the 8,096 private rented properties in the local council area, 24.6% of the tenants of those properties are in receipt of some form of housing benefit. (1,993 properties to be exact).

I know many landlords have suffered late rent payments with tenants on benefit, especially since 2008, when local authorities started paying housing benefit to tenants rather than directly to the landlords, but you cannot ignore the fact that housing benefit tenants make up a significant proportion of the Aylesbury rental population. Equally there are non-benefit tenants that pay late. The final choice of accepting any tenants has to be the landlords.

Interestingly, it might surprise some readers of the Aylesbury Property Blog, when we compare Aylesbury to the national picture, Aylesbury’s number of Housing benefit claimants are lower, as nationally a higher proportion of private tenants claim benefit. Nationally, 39.2% of the tenants of the 3,891,467 rental properties in Great Britain claim some form of housing benefit (i.e. 1,526,915 properties).

Now, let us look at the occupations of Aylesbury tenants, which makes even more fascinating reading. Of the 8,096 privately rented properties in the Aylesbury area, 6,827 head tenants (the head tenant being classified as the head of the household) are in employment (the other 1,269 rental property head tenants either being retired, long term sick, students or job seekers).

Splitting those 6,827 head tenants down into their relevant professions, 3,209 of them are Managers, Directors, Senior Officials, Professional or Technical Professions, 544 in Administrative and secretarial occupations, 1,002 in Skilled Trades, 596 in the Caring, Leisure and other service occupations, 393 Sales and Customer Service Occupations, 470 Process, Plant and Machine Operatives and finally, 613 in Elementary Occupations.

The one thing I have always known anecdotally, but until I did my research, never had anything to back it up with, was the high proportion of professionals and skilled trades renting property in Aylesbury.

As a landlord you need to decide what sector of the market you are trying to let to. Most landlords have a preferred tenant type and will buy property to suit their desired tenant.

For example many landlords have come to me over the years wishing to buy a property close to Stoke Mandeville Hospital so they can let to medical staff, however most of these staff are not paid well enough to be able to afford the rent unless they share and many landlords see sharers as problematic.

To discuss your investment needs, what property you should be buying and your ideal tenant please give me a call or pop in to the office when you are passing.

http://theaylesburypropertyblog.blogspot.co.uk/

Sleepy husky, a rare sight.

Aylesbury Landlords count the cost of a Tory Election win

Can you remember 10.05pm on Thursday, 7^th May 2015 ... with the shock news that BBC Exit Polls suggested the Conservatives would be returned with a majority? The middle classes exhaled a huge sigh of relief, as Aylesbury landlords, faced with rent controls from Red Ed and the Labour Party, now had something to cheer about. The Tory’s were always considered to be a political party that accepted the importance of the rental market, supported its development while properly targeting the lawbreaker landlords renting out below standard rental accommodation.

Since May though, George Osborne has announced future rises in stamp duty for buy to let landlords and a change in the interest relief on buy to let mortgages, some people have started to question that loyalty. However, things could have been a lot worse for Aylesbury landlords as previous ideas of making landlord’s pay more tax was the idea (which was seriously considered) of increasing Capital Gains Tax rates to the landlord’s own income tax levels. If Landlords would have had to pay capital gains tax of 40% to 45% on any uplift in value, that would have made investing in property a non-starter for almost everyone.

However, the loss of mortgage higher rate tax relief will make a number of properties not stack up financially. The new rules are likely to slow demand in the Aylesbury housing market, which is in fact good news for some landlords, as there will be less competition.

Just a thought, but making Aylesbury landlords think twice and run their numbers more cautiously is not such a bad thing.

So looking at the numbers, the November figures have just been released and they show a growth of property values in Aylesbury of 0.8% over the month of November. That figure doesn’t surprise me due to the time of year. It’s quite dangerous to look at one month in isolation, so looking at a more medium term view, over the last 12 months, property values in Aylesbury have risen by 8.7%, not bad when you consider inflation is running at -0.1%.

However, regular readers of the Aylesbury Property Blog know my passion for looking deeper into the stats. The really interesting information is the value growth, but what types of property are actually selling in Aylesbury?  Looking at all the properties sold, as recorded by the Land Registry, within 2 miles of the centre of Aylesbury in September 2015 (this data always runs a couple of months behind the house price data) compared to September 2007 (a couple of months before the credit crunch started to bite and the subsequent property crash).

	Sept 2007	Sept 2015	Difference
Detached in Aylesbury	24	30	+ 25%
Semis in Aylesbury	37	23	-38%
Terraced Houses in Aylesbury	48	61	+27%
Apartments / Flats in Aylesbury	30	25	-17%

 Now I have mentioned in previous articles that the numbers of properties selling in the Town has certainly dropped post 2008, but what amazed me were the drop in the number of semis and apartments selling in Aylesbury compared to the sales of detached and terraced properties.

Fewer properties are selling than last decade in Aylesbury and the types of properties selling have changed ...interesting times ahead for the Aylesbury Property market! 

Therefore, all I can say to the landlords of Aylesbury is do your homework, make sure the numbers do stack up, take advice and opinion from professionals and above all, for those of you planning to add to your portfolio, buy the right property at the right price. One place for such advice and opinion on the Aylesbury Property market is the Aylesbury Property Blog http://theaylesburypropertyblog.blogspot.co.uk/

 

Ooh that's something new!

 

Aylesbury apartment in Hilda Wharf with higher than average yield

Aylesbury gross rental yields average around 4% to 5% although some of this is being eroded by the high prices in the sales market the high rental figures achievable seem to be making a strong effort to maintain this average. Therefore you could do worse than buy an apartment that is already at the higher end of that average especially if you prefer yield over capital growth. Rental around £750pcm asking price £169,950, gross yield 5.29%
I have owned a property here myself for some years and it has always worked well for me.

Hilda Wharf, Aylesbury, HP20 1RJ

 

 Hilda Wharf is situated just off the High Street in a most convenient location with both the town centre and railway station being within a short walk.  The Tesco supermarket on Tring Road is within easy walking distance of the property and the local bus route can also be found nearby.
This well planned first floor apartment is offered for sale with no upper chain making it an ideal first purchase or buy-to-let investment.  Internally the property offers good sized accommodation including a lounge with separate dining area, refitted kitchen, two bedrooms and bathroom.  Outside there are well maintained communal gardens and allocated parking for residents together with further spaces for visitors.
For fuller details http://www.rightmove.co.uk/property-for-sale/property-57407270.html
If you want to discuss the numbers or are looking for investments of a different type please give me a call 01296 398555 or pop in to see me
UPDATE 19/01/2016 Sorry this property is already under offer

Where will Aylesbury Property Prices be by 2021?

I was having lunch the other day at the Chequers Inn , Weston Turville, with a local Aylesbury solicitor friend of mine, when the subject of property inevitablity came up. He asked me my thoughts on the Aylesbury property market for the next five years.  Property prices are both a British national obsession and a key driver of the British consumer economy.  So what will happen next in the property market? Here is what I told him, and now share with you.

Before I can predict what will happen over the next five years to Aylesbury house prices, firstly I need to look at what has happened over the last five years.  One of the key drivers of the housing market and property values is unemployment (or lack of it). That drives confidence and wage growth – key factors to whether people buy their first house, existing homeowners move up the property ladder and even dictates whether buy to let landlords have an appetite to continue purchasing buy to let property.

When the Tory’s came to power in May 2010, the total number of people who were unemployed in town stood at 1,489 (or 2.6% of the working age population in Aylesbury parliamentary constituency). Last month, this had dropped to 610 people (or 1.0% of the working age population).

As the Aylesbury job market has improved with better job prospects, salaries are rising too, growing at their highest level since 2009, at 3.4% per year in the private sector (as recently reported by the ONS).  That is why, even with the turbulence of the last few years, property values in the Aylesbury area are 25.62% higher today than they were five years ago.

Many home occupiers have held back moving house over the past seven to eight years following the Credit Crunch but with the outlook more optimistic, I expect at least some to seize the opportunity to move home, releasing pent up demand as well as putting more stock onto the market. With a more stable economy in the town, this will, I believe, drive a slow but clearly defined five year wave of activity in home sales and continued house price growth in Aylesbury.

I forecast that the value of the average home in Aylesbury will increase by 22.2% by 2021.

22.2% might sound optimistic to some, but according to Land Registry, values are currently rising in Aylesbury at 8.1% year on year, I believe my forecast to be fair, reasonable and a reflection of both positive (and negative) aspects of the local property market and wider UK economy as whole.

However, it would not do not to mention those potential negative issues as I do have some slight concerns about the future of Aylesbury housing market.  The number of properties for sale in Aylesbury is lower than it was five years ago, restricting choice for buyers (yet the other side of the coin is that that keeps prices higher). Interest rates were being predicted to rise around Easter 2016, but now I think it will be nearer Christmas 2016 and finally the new buy to let taxation rules which are being introduced between 2017 and 2021 (although choosing the right sort of property / portfolio mix in Aylesbury will, I believe, mitigate those issues with the next taxation rules).

I am telling the landlords I speak to, that with interest rates at their current level 0.5%, the cash in your Building Society Passbook is going to grow so slowly that it might as well be kept under their bed. Property prices, by contrast, have rocketed over the years, even after the property crashes, far outstripping bank accounts and inflation.

So my final thought ...  property is a long term investment, it has its’ up and downs, but it has always outperformed, in the long term, most investments. Those in their 40’s and 50’s in Aylesbury would be mad not to include property in their long term financial calculations. Just make sure you buy the right property, at the price in the right location. One source of information on such matters would be the Aylesbury Property Blog ... http://theaylesburypropertyblog.blogspot.co.uk/

 

I think I have her attention

Aylesbury landlords...Something for the weekend

A great opportunity for landlords who do not mind doing a bit of work. Need to put in new kitchen, bathroom, carpets and decorate throughout. General tidying up throughout.

26 Palmer Avenue, Aylesbury HP19 8EF

This excellent and well proportioned two bedroom semi detached property is offered for sale with no upper chain and does require a degree of updating.  On the ground floor there is a good size lounge/dining room and a kitchen whilst on the first floor there are two good size double bedrooms and a bathroom.  A particular attractive feature of the property is the delightful rear garden which extends to approximately 50ft in depth and backs onto park land.
Full details available via Rightmove http://www.rightmove.co.uk/property-for-sale/property-57319505.html
If rented once updated you could expect around £900pcm giving a gross yield of around 4.5% and sensible opportunity for capital growth.
If you are considering a purchase to let in Aylesbury and want to give your figures a sanity check please give me a call 01296 398555. The archive pages of this blog are likely to answer many questions but please call me if you need something that is not available..
UPDATE 19/01/2016 Sorry this property is already under offer

A great buy for Aylesbury landlords with 5.2% gross yield.

55 Stoke Road, Aylesbury HP21 8BL

This superb three bedroom terraced Victorian home has recently been the subject of a comprehensive modernisation program and is now ready to move straight into.  The property benefits from gas fired central heating to radiators, refitted kitchen and bathroom, re-wiring and many other improvements.  On the ground floor the entrance hall leads to two good sized reception rooms and in addition there is a nicely refitted kitchen, utility area and bathroom.  On the first floor there are three good sized bedrooms.  Outside the property enjoys a pleasant low maintenance courtyard garden  to the rear.

Being close to the town offsets the lack of car parking on site so finding tenants who walk to work in town should not be an issue. Having just been refurbished initial and medium term maintenance should be at a minimum.
The rental market as we know remains strong and I would see this letting very readily at £900pcm or perhaps even a little more. At £900 the property offers a very respectable gross yield of 5.2%, higher than the Aylesbury average.
More details and pictures available via Rightmove http://www.rightmove.co.uk/property-for-sale/property-52631374.html or call the sales team on 01296 398555

OPEN HOUSE SATURDAY JANUARY 16TH 2PM - 3PM
Just turn up on the day, no appointment needed
55 Stoke Road, Aylesbury HP21 8BL
UPDATE 19/01/2016 Sorry this property is already under offer