Today from the 'Property Hawk' Landlords looking for a buy-to-let bargain will have to head west & north according to the latest figures released by Mouseprice.com.
Mouseprice have released figures for the cheapest streets in the UK.
The one street they have identified as being the cheapest is Fernhill in the Welsh region of Mountain Ash where the average property costs just "28,600. This street also topped last years poll, although average pries have risen over the year from £24,640.
The top ten cheapest streets in order were:
1. Fernhill,Mountain Ash. Wales £28,600
2. Oxford Street, Brierfield, North West £32,800
3. Ann Street, South Bank, North East £32,900
4. Edward Street, South Bank, North East £34,200
5. Scarborough Street, Middlesbrough, North East £34,400
6. Redcar Road, Middlesbrough, North East £34,400
7 Victoria Street, South Bank, North East £35,600
8. Wood Street, Burnley, North West £35,700
9. Elmwood Street, Burnley, North West £35,800
10. Altham Street, Burnley, North West £35,900
Landlords looking for a bargain property investment should remember that a cheap property isn't necessary a great investment. Cheap properties are also likely to have low levels of rent so that what a landlord should look at is the relationship between the capital value and the rent. The rental yield. Areas with low capital values are likely to be blighted by low demand from owners and renters leading to lower capital and rental growth prospects.
Check them out on Google Street View - some don't look too bad, though I personally wouldn't be tempted. It's a bit like deciding to buy a Korean car or one made in Germany....
Lets be careful out there folks !
Mr Jackson.
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