Parkside in Spennymoor will attract families and investors

A new property to the market is this 3 bedroom family home that's just come to the market via Dowen-

PARKSIDE, SPENNYMOOR, SPENNYMOOR DISTRICT

http://www.rightmove.co.uk/property-for-sale/property-50169509.html

It's in the ever-popular Parkside and has gone on the market at £118,500. Although it's another example of an estate agent not getting to grips with portal pricing, there's definitely potential here. It may appeal more to a family than an investor, but there's probably value here for either.

It's got three bedrooms and a kitchen/diner, which is popular for current buyers. Personally I'd get the estate agent back round to re-take some of the photos - a car on the drive is never a good start, for example.

For an investor, this property would attract a monthly rental return of between  £525 and £600. This equates to an annual rental return of between 5.3% and 6.1%, based on the asking price.

For a family home, there is always a demand for homes on Parkside. There have been 8 sales on Parkside in the last 5 years, with sold prices ranging from £86,000 to £130,000 but recent sold prices have been towards the lower end of this range-

http://m.nethouseprices.com/soldprices/property_results?street=PARKSIDE&town=SPENNYMOOR&outcode=DL16

It's definitely worth viewing for investors and owner-occupiers, so call the agent and make an appointment!

Almond Close in Spennymoor would work as a family home but perhaps notfor investors

There has only been one property uploaded to Rightmove in spennymoor so far this week-

Almond Close, Spennymoor, Durham

http://www.rightmove.co.uk/property-for-sale/property-30755448.html

It's a 4 bedroom detached property on Almond Close, off of Grayson Road at the top end if the town.

If you ignore the non-committal statements from the estate agent, such as "deceptively spacious" and "well maintained" then you will see a set of marketing photos that show-

*An imposing front photo

*A good-sized garden

*Rooms that look large, on the whole

Since 2008 properties in the close have sold for between £170,000 and £245,000, but these figures can only be seen as a historic guideline - the last recorded sale was in 2011.

As a family home, £167,500 seems a good starting price (albeit a strange price point for property portals.) as a potential investment, I would expect a rental return of between £675 and £795 per month, which would give a gross rental yield of between 4.8% and 5.7% per annum, based on the purchase price. I would guess that these returns would be too small for an investor, so the market closes a little to families - but that's not too much if an issue as there are plenty if families looking to move in or to Spennymoor.

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