Birmingham Property Value Changes to 2012

Currently there are around 4,279 properties for sale in Birmingham, with an average price of £151,990. This figure represents a drop of £13,580 (-8.68%) over the past five years; in fact, property values have declined over each of the last five years.  The last three months alone have seen a fall of £674 (-0.47%).  The rental market is buoyant, with the average monthly rent sitting at £703; there are currently 2,393 properties on Birmingham’s rental market.

Comparing these statistics to the London equivalent is interesting, with the current London property market showing the following statistics:

Current Properties for Sale in Birmingham

Long Leys Court, Water Orton, Birmingham B46

First floor studio apartment with good sized lounge/sleeping area together with kitchen and fitted bathroom. Represents an ideal investment opportunity with sitting tenant.

£79,950

Ravenswood Hill, Coleshill B46

Two-bedroom maisonette reduced in price. Two double bedrooms, lounge/diner, fitted kitchen and bathroom. Leasehold with 99 Years remaining ideal Investment opportunity or first time purchase.

£99,950

Mercer Avenue, Water Orton, Birmingham B46

Reduced in price mid-terrace town house with three bedrooms, re-fitted kitchen, lounge, dining room, garage in separate block, fitted bathroom with separate shower. Freehold with no upward chain

Offers over £150,000

Coleshill Road, Water Orton B46

Traditional three-bed semi detached Home with two reception rooms and extended breakfast kitchen. Garden with access to the local park. Freehold

£249,950 open to offers

Birmingham Repossessed House and Below Market Value (BMV) Auction Agents

Pattinson

4 Fellside Road
Whickham
Newcastle Upon Tyne NE16 4JU

Tel:             0191 300 8558

Choices

Interlet House, Park Chesterfield
Chapel Road
Smallfield
Surrey RH6 9NW

Tel: 01342 777509

Birmingham Property Area Statistics

• Located – West Midlands
• Miles from London – 121 miles
• Density: Birmingham –  3,649 people per km2
• Density: London – 4,761 people per km 2
• Population: Birmingham – 1,028,700. (2009)
• Population: Greater London – 7,753,600 (2009)

Residential Areas in Greater Birmingham

The Greater Birmingham area is divided into myriad residential areas.

We hope you find this brief overview of buying repossessed properties in Birmingham a useful ‘jumping-off’ point. Whatever type of property you are interested in buying and whether it’s destined to be your own home or an investment buy, Birmingham is hard to beat in terms of choice and potential.

Is Bristol your kind of city?  If you think it might be you’ll find lots of investment opportunity in its repossessed housing market and, for first time buyers in the South West, Bristol is a gold mine…

Living in Bristol

• Located – South west of England
• Density – 3,639 people per km 2
• Population – 398,300. (2005)
• Area – 110 km2

Bristol is commonly referred to as the capital of the South West, I prefer to think of it as the gateway to the south west but, however you describe it, Bristol is certainly the largest city in the South West of England.

Overflowing with history, Bristol is also beautiful and a haven for the ‘culture vulture’ – whatever your aesthetic and cultural tastes. Moreover, the Centre for Cities annual index, “Cities Outlook 2011″, lists Bristol as one of five UK cities to watch which “will be better-insulated from the economic impact of the spending squeeze, and have high potential to create private sector jobs.

Bristol is also a designated Science City with first-class scientific research and development carried out in its universities and business sectors.  More creative than scientific? Bristol is a key centre for the creative industries and home to such scions as Aardman Animations, best known for its Wallace and Gromit animations.

Far from being out in the boondocks, Bristol was recently ranked as having the highest quality of life in England and Wales.

Residential Areas in Bristol

Choose from picturesque, modern harbourside, Victorian terraced houses – in fact, whatever your budget or taste, you’ll find a repossessed or distressed property opportunity to suit. And don’t immediately write off those areas with a history of social problems; as with most cities, neighbourhoods change and evolve with yesterday’s ‘black hole’ becoming tomorrow’s desirable area.

• Barton Hill: Thirteen blocks of 1950s council flats within the inner city area. A reputation for crime and vandalism but also the target of government social improvement projects. Lies to the East of the city centre and close to Bristol Templemeads railway station.
• Bedminster: Lying to the south of the city centre, Bedminster also encompasses the Ashton Vale district.  Close to two railway stations: Bedminster and Parson Street.
• Bradley Stoke: A residential area, built in the late 1980s, on the north side of the city of Bristol. Named after the local Bradley Brook and Stoke Brook streams.
• Brislington:  A large area of Bristol and therefore divided into two, East Brislington and West Brislington for local government. Situated on the south eastern outskirts of Bristol and just 10 miles from Bath.
• Hartcliffe:  A post-war government housing development on the southern edges of Bristol.  This is a deprived area of the city but regeneration projects are underway.
• Henbury:  Approximately 5 miles north west of Bristol city centre. Henbury is just two miles away from junction 17 of the M5, and five miles from the M4/M5 interchange. Hengrove
• Henleaze: A residential development built between the wars, Henleaze sits to the north of Bristol city centre.  A pretty, Edwardian neighborhood.
• Horfield: On Bristol’s northern edge, together with Filton, Horfield marks the boundary between Bristol and South Gloucestershire. The A38 (the Gloucester Road) runs through the town.
• Knowle: Situated to the south of Bristol and by Filwood Park to the west, Brislington to the east, Whitchurch and Hengrove to the south and Totterdown to the north. Lots of open space provided by Redcatch Park. Strong community focus here with many community action groups.
• Knowle West: Two miles south of the city centre, Knowle West sits on a low plateau; it is the site of a 1930s council estate, built for the government slum clearance programme of that time. There are no major employers in the area, although the numerous industrial estates provide some job opportunities. Five schools, four churches, and numerous community groups provide social opportunities. Six out of eight areas in the neighbourhood are categorised economically deprived.
• Lawrence Weston: A post war housing estate in North West Bristol. On edge of the Severn flood plain and directly beneath the wooded Kingsweston Hill. Employment opportunities mainly at the port of Avonmouth – a mile across the flood plain to the west – and the associated industrial complex.  Also home to Weston Moor, a nature reserve under the management of Avon Wildlife Trust and leased from Bristol City Council.
• Lockleaze: Situated just north of Bristol and separated from Horfield by the main line Bristol to South Wales railway, Lockleaze is another post war council development; however nowadays there are plenty of privately owned properties. In 2008, however, Lockleaze was graded as one of the 10% of most deprived areas in England, with Filton Avenue North being the most deprived road in the area.  
• St. George: Sits on the edge of Bristol’s inner city area, this is an old mining area which, nowadays, is better known for its many pubs and shops. It is the target of numerous regeneration plans.
• St. Pauls: North East of the city centre, this inner suburb is well served with roads, it is: west of the M32 and bounded by the A38, the B4051, and the A4032.  The neighbourhood was one of the first Bristol suburbs, original laid out in the 18^th century. The St Paul’s area was Bristol’s centre for the 1980 riots which affected many deprived and inner city areas throughout the UK.  There were also ‘copycat’ riots in the area during the Summer of 2011, when a spate of riots once again took place across the UK. A socially deprived district, there is a strong community spirit in this area, as evidenced by the annual carnival, which attracts up to 90,000 to the area.  Redevelopment plans abound, although proposals for a 28-storey “spire” as part of the £80 million project have been dropped.
• Totterdown: To the south of the River Avon and south-east of Temple Meads railway station, Totterdown is an attractive and well kept Victorian neighbourhood, noted for the brightly painted houses. The district sits on the steep riverbank slops and features a network of very steep roads in its Eastern region that mean cars can only be parked at an angle to the kerb. Vale Street in this area is cited as the shortest residential road in England. This previously working class area was built to accommodate railway workers, however, Totterdown is now a very popular region for young city commuters.
• Withywood: Withywood sits on the southern border of Bristol city and between Hartcliffe and Bishopsworth.  Once again, regeneration plans abound for this large 1950s estate and there are proposals for a swimming pool and leisure complex as well as upgrades to local shopping facilities. Withywood forms part of the largely residential Bishopsworth area.

Find out how to buy a repossessed house for sale or below market value proprty investment in Kent.

Maybe sitting where you are now, you can’t imagine ever selling your property for a knock-down price – known in the trade as BMV or below market value – but it happens. And not just when a property is repossessed either; in fact, there are a variety of reasons for these properties coming to the market. For example, the property might belong to a large public body, such as the Ministry of Defence or the NHS; such properties are frequently sold off at well below market value, often reduced on the market price by as much as 30% (or even more in some cases).

Kent, in the South East corner of England, offers the best of all worlds: coastline, heritage landmarks, and a new high speed rail link to London (journey time 35 minutes).

Current Average Property Prices in Kent

• Flat: £167,720
  
• Terraced: £202,169
  
• Semi-detached: £232,043
  
• Detached: £427,014
  

Current Average Rental Values in Kent

• Room: £395 pcm
  
• Flat: £696 pcm
  

• House: £1,035 pcm
  

Examples of BMV Properties Currently Available in Leeds

• Ashford, three-bedroom end-terrace with market value of £165,00 on market for £132,000. Equity on completion: £33,000. Yield: 6.32%
  
• Folkestone Road, Dover: one-bedroom flat central location on market for £28,000
  
• Westwood Road, Salisbury: two-bedroom first-floor apartment on market for £114,950

Find more BMV Property Invesmtents in Kent

If you are looking to by a BMV property as a rental investment, Leeds has it all:

• With its two universities, the University of Leeds and Leeds Metropolitan University inflating the population by around 68,000 (and that doesn’t account for the 52,000 short course students), there are a lot of students needing accommodation
  
• 20,000 people employed within the tourist industry, an industry with high staff turnover, and that’s 88,000 homes needed
  
• Leeds property prices are substantially lower than the UK average
  

Current Average Property Prices in Leeds

• Detached: £276,675
  
• Semi-detached: £150,007
  
• Terraced: £109,859
  
• Apartments: £132,488
  

Current Maximum Local Housing Allowance Rates in Leeds

• Shared accommodation: £59.00
  
• 1 Bedroom: £98.09
  
• 2 Bedroom: £114.23
  
• 3 Bedroom: £126.92
  
• 4 Bedroom: £173.08
  

Examples of BMV Properties Currently Available in Leeds

Note: these properties are all for sale by auction on 20^th April at Auction House Manning Stainton, LS18

• Brownhill Terrace, Leeds LS9: Basement and Ground floor apartment. Currently used as a takeaway business. Guide price £20,000
  
• Recreation Grove, Leeds: This is a one bedroom back-to-back terraced property currently producing £5,400 per annum of rental income. Guide price: £30,000
  
• Copperfield Crescent, Leeds: Three bedroom terraced property. An excellent buy-to-let proposition: Guide price: £30,000

Find more BMV Properties

You will see many adds, particularly online, claiming BMV (below market value) prices of up to 40% and the majority of these should be taken with a pinch of salt; that’s not to say, though, that such bargains are not out there to be found. Here at houserepossession.co.uk we provide a free repossessed and distressed property search service of which we are very proud.

How can Properties be Sold at such BMV Prices?

• Sometimes a vendor finds a new property gets involved in a race to exchange contracts. They then need to sell their property as quickly as possible – so they reduce the price to below market value
  
• There may be too many properties of the same type in a particular location; the market stabilises itself by pushing prices down
  
• Sometimes the recipient of a probate property (a property in a will) just wants to sell the property quickly to get the cash
  
• Company executives who are required to locate for their job are often very well paid to achieve the move quickly
  

BMV properties fall into the following categories:

• Repossessions
  
• Properties in need of renovation
  
• Properties for the rental market (the buy-to-let market)
  

Examples of BMV Properties Currently Available in London

• Gladstone Road, London SW19: 2 bedroom house for sale by auction. Guide price £325,000
  
• Dane Road, London SW19: 3 bedroom house for sale. £330,000
  
• Macclesfield Road, London SE25: 4 bedroom house for sale by auction. Guide price £170,000
  

Find more Repossessed Houses for Sale in London and BMV Property Investments

Many people realise that investing money in a repossessed house is a good way to make money and, what with the financial downturn predicted to continue through 2011, there will be plenty of opportunities around. And, when it comes down to it, buying and selling property is no different to buying and selling any other commodity – buy low, sell high. One word of warning, though, don’t believe everything you read! Companies promising you properties at, say, 70% below market value (BMV) are ‘having a laugh!’

Just in case you hadn’t noticed, we are currently in a depressed property market, which should be good for repossessions, shouldn’t it? Well, yes and no. There will be more ‘distressed’ sales around, that is folk that find themselves in financial difficulties are more likely to ‘hand in the keys’ and walk away from their mortgage, thus putting another repossessed house on the market. But, there will be a slimmer chance of you selling-on your bargain buy, no matter how well you have refurbished it. At the end of the day, a property is only worth what the buyer is prepared to pay – and in a property market loaded with repossessed properties, the buyer is king.

Nevertheless, there is still money to be made, certainly as the market picks up from 2012 onwards (that’s the forecast, anyway) you will be in a better position to sell any bargain-basement repossessed property you buy this year.

The Buy-to-Let Market

All the latest figures show a growth in the buy-to-let market, which, according to the Council of Mortgage Lenders, grew by 7% last year (2010). And given the continuing financial pressures it is likely that the figure will rise once again in 2011. That’s the upside.

The Downside is that, as with any burgeoning market, prices are being forced down. In this context you should place the word ‘prices’ with the word ‘rent.’ Average rents have fallen by 0.3% from the beginning of this year – the average rent, by the way, is £682 per calendar month. However, monthly rents are still 4% higher than they were at this time last year.

Having said that, it’s as well to remember that the buy-to-let sector is a legal minefield – which might explain why loans for buy-to-let aren’t so easy to come by. There are some sector-specific lenders but they are quite thinly spread. This doesn’t mean that buying a repossessed property to let is out of the question, what it means is that you will need to find a specialist lender and, above all else, ensure that all your legal ‘Is and Ts’ are dotted.

How Much Money could you make Buying and Selling a Repossessed House

Currently, repossessed properties are selling at around 5% to 10% BMV but it is possible to negotiate a price up to 30% BMV. If you are borrowing-to-buy, the 30% BMV price is what you need to achieve, although if you have ready cash even the 10% BMV could make you some profit, depending on how quickly you turn the property around. Don’t forget that at the moment you can’t rely on the quick turnaround of a few years ago, so you might not repay your loan as quickly as you thought. It pays to look at a good mortgage payment calculator.

A quicker way to make money from a repossessed property might be to rent it out. Fill your property with vetted, high-quality tenants and not only will you cover the costs of your loan, you could also make up to £500 to £1,000 per property each and every month.

Despite the improvements, lending levels for investment landlords are a drop in the ocean compared to the market’s zenith in 2006 and 2007, when lending was an astounding £12.4 billion for the third quarter of both years – we have a way to go yet. And there lies the opportunity.

Michael Coogan, director general of CML (Council of Mortgage Lenders), wonders “whether there will be sufficient supply side capacity to meet … demand, as the number of buy-to-let lenders dwindled in the credit crunch after 2007 and is yet to be fully restored.” If that’s not a call to arms, I don’t know what is. The CML expect the buy-to-let demand to pick up further, based on rising rental trends and broadly stagnant house prices.

Currently there are around 309 buy-to-let type mortgages available, quite an increase on the 185 products that were on offer at this time last year; proof, if any were needed, that the lenders have realised that demand is strong. However, in July 2007 there were 3,648 products available.

There another positive note too – CML statistics show that there were 1,500 properties repossessed from landlords in the third quarter of this year, 100 fewer than in the previous quarter. Although that still seems like a high figure, when you realise that it’s just 0.12% of all buy-to-let mortgages, it doesn’t seem so dire after all.

• Edward Mellor Auctions
  
  182 London Road, Hazel Grove, Stockport,Cheshire, SK7 4DQ.
  
  Telephone: 0161 230 1740 Fax: 0161 419 9933
  
  Email: auction@auctioneers-lcc.co.uk
  

• Julie Twist Properties 249 Deansgate, Manchester, Lancashire,M3 4EN.
  Telephone: 0161 834 8486 Fax: 0161 839 1400
  Email: vicky@julietwist.com

• Miller Metcalfe 56 Bradshawgate, Bolton, Lancashire, BL1 1DW
  
  Telephone: 01204 525252 Fax: 01204 362945
  
  Email: estateagents@millermetcalfe.co.uk
  

• Pugh & Company 4 The Park, Newton le Willows, WA12 0JQ
  
  Telephone: 08442 722444 Fax: 08442 722555
  
  Email: auctions@pugh-company.co.uk
  

• SHM Smith Hodgkinson 53-55 St Thomas’s Road, Chorley, Lancashire, PR7 1JH.
  
  Telephone: 0113 245 4242 Fax: 01257 262 387
  
  Email: neil.duckworth@shm-group.com
  

• William H. Brown (Blackpool) Auction Centre, Newfield House, Vicarage Lane,
  
  Blackpool, Lancashire, FY4 4EW.
  
  Telephone: 01253 607600 Fax: 01253 607777
  
  Email: james.tylman@uk.royalsun.com

• Wright Manley Chester 6/8 Watergate Street, Chester, Cheshire, CH1 2LA
  
  Telephone: 01244 317 833 Fax: 01244 320701
  
  Email: contact@wrightmanley.co.uk
  

• Wright Manley Crewe 137 Nantwich Road, Crewe, Cheshire, CW2 6DF.
  
  Telephone: 01270 255396 Fax: 01270 586190
  
  Contact: Ms Karen Gaze
  

• Wright Manley Nantwich 56 High Street, Nantwich, Cheshire, CW5 5RP
  
  Telephone: 01270 625410 Fax: 01270 626425
  

• Wright-Manley Tarporley 63 High Street, Tarporley, Cheshire, CW6 0DR
  
  Telephone: 01829 731 300 Fax: 01829 733878
  

Serious property investors will be interested in our reduced subscription deal with PureAcquisitions: HouseRepossession /PureAcquisitions

It’s not as easy as it was in the past to find repossessed properties as property professionals, keen to present a family friendly image, don’t willingly reveal that the houses they are selling are repossessed.

However, where there’s a problem you will find a solution and there are a number of agencies now springing up specifically to help you find investment properties. HouseRepossession.co.uk has partnered one of the most highly rated of these agencies, PureAcquisitions.co.uk and can now offer you a reduced subscription rate – sign up for two months and get a third month free. This offer is only available if you register with PureAcquisitions via the HouseRepossession /PureAcquisitions link page.

Registration with PureAcquisitions will gain you:

• Real discounts & high yields, reductions range from 20% to 40% off current market values and RICS valuations;
  
• All deals are exclusive
  
• We only deal directly with the vendors – and they need to sell.
  
• These properties do not appear on auction lists.
  
• Stock available across the UK. In the past 3 months we have sold below market value (BMV) property in London, the South, Birmingham, Hastings, Portsmouth, Liverpool, Manchester, Leeds, Sheffield, Southampton, Maidenhead, Oxford, Derby, Nottinghamshire and Blackpool together with deals in both Scotland and Wales.
  

There are lots more benefits that come with this repossessed-house-finding subscription, including:

• A FREE consultation with our experienced property consultants.
  
• Unique access to an exclusive members-only area of the site
  
• Additional Access to ‘up to the minute’ auction information about 1000′s of properties from some of the country’s leading auctioneers.
  
• Advanced notice of heavily discounted UK properties (minimum discounts 20%).
  
• FREE entry to three Pure seminars/training events held throughout the UK.
  
• A guide to Property Investment and everything else related (worth £14.99).
  
• Monthly newsletter to keep you up to date with all the latest investment news.
  
• FREE consultation with a Chartered Accountant/Tax Planner to help make your investments go further (worth £149.99).
  
• Up to three in depth independent reports on specific property (whether being bought through us or not), analysing area, sales statistics and confidence levels (worth up to £50 per transaction, up to 6 transactions).
  
• A FREE Independent Financial Review (worth £99.99).
  
• 15% off Estate Agency Fees for when you want to sell.
  
• 10% off Bridging Fees.
  
• A FREE quarterly report in property purchased with us illustrating demand, value, confidence levels in the area and demographics.
  
• A consultation bi-monthly with your personal advisor either in person or by phone.
  

If you’re serious about property investment, a subscription to the PureAcquisitions service is essential.

If you want to calculate the current market value of a property, our House Purchase Costs, Mortgage & Valuation Calculator will help you to do just that.

Unlike during previous falling house markets, however, this time round it could prove hard to find repossessions; mortgage buyers have stopped revealing if the properties that they are selling have been repossessed. If you are an investor, we have access to a very exclusive list of below market value properties. This list is updated on a daily basis and includes properties from some of the top estate agents, including: Jones Lang LaSalle, Colliers, Savills, King Sturge and scores of niche agents such as Strettons and Globrix.

The majority of the properties in our property listings will sell for between 15% and 35% lower than RICS valuations.

Whether you are looking for repossessed properties in London or the Isle of Bute, if you want to successfully invest in property, you need to know where to look: we have done most of the searching for you.

We will also be publishing up-to-date listings of house repossession auctions.