Buying Cheap UK Property
Everyone seems to have their opinion. There are those who purchased London property and sought capital appreciation…which in todays world of covid has been now low yields if they can even rent their property including price depreciation. Contrarily there are those whom purchased in the NE or NW in some of the tougher areas seeking high yield yet could not manage their properties and ended up dumping them to auction.
How about buying below 2008 prices in areas that there will be price appreciation. Add in the fact of a 10 year govt backed social housing contract. This becomes a win win and highly profitable. We saw this in Salford Manchester in 2014 when we started. Prices started at 60-70k and today are 110 to 130k for basic 2 bed terraced houses. Currently we are seeing this in Hartlepool, Stockton on Tees as well as St Helens.
Buying properties and putting them on these social housing contracts allows us to focus on sourcing and refurbishing rather than managing tenants.
We sold properties in Salford to an investor from Saudi Arabia. He held them several years and then sold them fo a 30% uplift and including the rents walked away within 3 years of almost a 60% return. Can this happen again…do not know…however we are seeking cash flow and price appreciation is a gift when and if it happens.
Learn more about our social housing properties.
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