Why invest in Spennymoor?

After several blogs on different properties in Spennymoor, I thought it was about time to let investors know why to buy property in Spennymoor. The town has a lot of potential and through this edition of my blog I'll give you some reasons to look at Spennymoor as a potential investment town.

Firstly, and most importantly, there is a strong rental demand in the town. As an investor, this is the most important factor. The demand is a mix of housing benefit and non-housing benefit tenants but a good property well-priced will always attract the right attention and you will be able to let in a short period of time. As with most of the North East, there are plenty of families looking to rent and if you can pitch it right then you'll find a good match.

This leads on to the estate agents. There are a few lettings agencies in the town, and these are all quite active in the lettings market. As with many UK estate agents, lettings has become a larger part of their business since the crash in the housing market that started with the credit crunch in 2008. The main agents all conduct sales and lettings, so if you buy through them, you can sample their services before you choose a lettings agent.

Spennymoor itself has lost a lot of their big employers as the main factories have closed. The retail area in the town centre is a little disjointed but provides employment. In terms of employment, one of Spennymoor's great advantages is it's proximity to Durham and it's links to the A1. This means that large parts of the population live here but work elsewhere in the North East. By travelling up and down the A1, it means that places such as Newcastle, Leeds and York can be reached in a commute. Although train services are relatively poor in comparison with other parts of the country, the East Coast Main Line connects durham quickly and regularly to Edinburgh, Newcastle and routes down to London. Again, this provides a potential commute for your tenants.

For me, as a Spennymoor resident, one of the main "selling points" of living here is access to the wonderful  North East and the leisure activities it offers. We are on the doorstep of such natural beauty and being able to reach and experience this quickly is a major selling point for any landlord looking to attract people from around the country.

Whether you're from Spennymoor or not, I hope this sheds some light on why you should consider an investment property in our town.