Monthly landlord report – August 2015

. by James Laurence Estate Agents

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The resurgence of the one bedroom apartment!
As James Laurence hit a second month in lettings, we take a look this month at where the astute investments in Birmingham City Centre are, as the one bedroom city centre apartment is fast re-emerging as the must have property in the portfolio.

Birmingham has just been named by This Is Money magazine as one of the top five UK cities for buy-to-let investments, with the view that the city centre has seen major regeneration over recent years with more in the pipeline – with the City Council announcing that over the next five years £10.5 billion worth of investment is planned for the city.
It is no wonder then that over the last financial quarter, rental asking prices have increased on average by 6%, with the average one bedroom apartment in the city centre (taken from core postcodes B1, B2 and B3) in this period being £706.00pcm and the average two bedroom apartment in the same period and area increasing to £1,025.44pcm.
An excellent case example of the growth within the city is this apartment in Islington Gates, Fleet Street, close to the central Financial District within the B3 Postcode. A property we have just sold, 7th floor, large balcony, previously purchased for £149,995 back in June 2004 with a rental income of £600.00pcm, giving them a gross 4.6% rental yield. We have recently re-sold this apartment for £135,000 and interestingly it has been let at £695.00pcm meaning the landlord now gets a higher rental gross yield of 6% an increase in yield of 1.4% in 10 years. Though the city centre has experienced the lows of the recession to the extreme, the irony now is that such investment purchases in the area, commanding such rental yields, is driving the prices back towards that of the 2006/2007 era. This now results in a shortage of quality new properties on the property market, current savvy vendors are taking the opportunity to take advantage of the buoyant market, with expectations not only looking for a good instant return but also with one eye on capital appreciation!
In July, the Birmingham Post reported that Birmingham is a hot spot for buy-to-let mortgages. This is in part due to HS2 and other developments in the city making Birmingham the top buy-to-let city outside of the capital. With three quarters of the landlords in the city owning more than one property and high rental returns compared to other areas of the UK, Birmingham is a fast emerging buy-to-let market.
Contact us to discuss your investment requirements on 0121 604 4060 or contact the lettings manager Andy McHugo on [email protected].

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The people we've helped

  • We recently switched from another letting agency to James Laurence, as we found their team so warm and friendly and loved the local aspect of the agency. The team have absolutely exceeded our expectations, making the changeover feel so seamless and finding new tenants for our apartment at really short notice. Lotti could not have been more wonderful to work with, going completely above and beyond to ensure our tenants could move in just before Christmas. We felt an immediate affinity with her and have so appreciated her attention to detail, quick thinking and creativity. She has made us feel so at ease, supported and like our property is in the safest of hands. Charlotte and Melissa have also been so helpful and lovely to deal with during the process. Having worked with several other agencies in Birmingham, I cannot recommend James Laurence highly enough. Look no further, they are the best!

    Julia Collins Andreu Avatar Julia Collins Andreu
    28 December 2022

  • The team at James Laurence was very helpful when I tried to find an apartment in Birmingham. I was in contact with a different letting agency but things fell through and they couldn't help me. A colleague of mine recommended James Laurence Lettings so I emailed them immediately since I was was moving from Sweden and the move would take place in less than a week. The team at James Laurence responded within 5 minutes and managed to offer me a few different apartment-options. Things proceeded quickly and smoothly and just a few days later I had they keys to the apartment. James Laurence helped me every step of the way and went above and beyond to accommodate my requests. The only minor negative thing I can say is that the interntal communication could be improved a tiny bit. I received slightly different information depending on who I was speaking with at the time. When I said I received different information earlier the person I spoke to said she would talk to her colleagues and then get in contact with me later with the "correct" information which she did and the issue got solved very quick.

    Elias Avatar Elias
    15 October 2022

  • Our experience with James Laurence Estate Agents was absolutely fantastic! Melissa Wilson made the application and referencing process smooth and easy with excellent communication. Everyone we spoke with from the office was kind, helpful, and welcoming. To top it all off, the loft we moved into was even better than the pictures! We are thrilled with our new home and we would absolutely recommend James Laurence to anyone looking for a place to live!

    Dominic James Avatar Dominic James
    2 October 2022

  • I have been very impressed with James Laurence, who have recently sold my property. Having previously had a poor experience with Purple Bricks, I instructed James Laurence to help sell my property. I have worked with Henry throughout the whole process and have found him to be very professional and knowledgeable as well as being efficient. It can't be stressed enough how important this is to have an estate agent that responds quickly, negotiates well and truly understands the market (especially during uncertain times like recently with the cover pandemic). I have briefly worked with Caroline and some of the other team members who also seem to be very efficient and friendly. Thanks again to James Laurence who I would fully recommend to anyone looking to Buy/Sell in Birmingham.

    David Jolly Avatar David Jolly
    16 June 2022

  • I recently sold my property with James Laurence, and the overall experience was great. They demonstrated a good knowledge of the Birmingham property market when discussing sales strategy, marketing and pricing (more than I was expecting) towards the beginning of my experience with them. This showed when we achieved 2 asking price offers within the first couple days of showings. Once an offer was accepted, their support did not stop there, Caroline (Sales Progression) did a fantastic job at liaising between myself and the buyers side, helping to progress items and remove any potential blockers. I would fully recommend James Laurence to anyone looking to Buy/Sell in Birmingham.

    Jack Darby Avatar Jack Darby
    20 May 2022