I have come across the following property from an estate agent outside of the town-
4 bedroom detached house for sale on Glastonbury Close, County Durham , Durham, DL16 6XP
It is for sale by a company called Springbok Properties, who are based in Manchester. Their marketing blurb says -
"Springbok Properties offers a market-beating alternative to the traditional way of selling property.
We have grown from selling 4 properties a month in March 2012 to selling 200 properties a month in March 2015. How have we grown so quickly? Simple: our entire organisation is aligned to one mission, and only one –providing the best customer service humanly possible."
There probably is long overdue a real shake up in the estate agency industry with better customer service and lower costs starting to come through, especially from online-only estate agents.
On to the property in question. It is available at an asking price of Offers In Excess of £140,000 and is a 4 bedroom detached house. It lies on the Yuill Estate so is very popular and has great transport links, being close to a bus route and close to the town centre.
The description and photographs are of a generally well maintained property that wouldn't need much work to turn around and start renting out. Whoever decided that it was a good idea to include those photographs of the bathroom need to start thinking about their future in estate agency though.
I think that there is a demand for four bedroom properties in the Spennymoor area and, as I said before, there is a glut of 2 bedroom property at the moment. In terms of rental potential, I can see this one going for somewhere between £575 and £650 per month. This equates to a gross annual return of between 4.9% and 5.6% based on the asking price.
It really has become decision time for many landlords with the changes in buy to let rules occurring in April 2016 so if you want to make a move before then this may be the time
.
