What type of properties rent best in Harrogate ?
Let’s start at the beginning with the buying of a property to rent out in Harrogate. As an investor you need to know how saleable a property is and how well it will rent/ the level of yield, before you buy.
Saleability is a key as one day you will almost certainly wish to sell the property and need to be confident of a sale with a significant capital growth.
If you approach a property purchase fully understanding the above in terms of advantages verses attendant risks then you can set about negotiating a sensible purchase price with confidence.
Key features of properties include;
- Sizeable living accommodation
- Light & airy feel
- Close to public transport
These elements add to the liklihood of gaining and retaining a good annual income as well as riding out potential market ebb and flows.
Our role, at Myrings, is to help clients make wise investments by identifying the right properties & locations.
Image: Hopewell Studios
In a weaker market – what type of property is easiest to rent or sell ?
The temptation is to say that everything rents, at the right price. That would be naieve, and of no use to anyone reading!
At the moment good properties in Harrogate are renting/selling quickly , especially in the mid-price ranges although it’s taking a little longer with more expensive properties, this however is seen across the country, and was the case before the market spike and fall, as much as it is now.
With all that in mind, the old favourites still exist, now as much as before;
- 2 -3 bedroomed terraces and semi’s
- Family homes – are always in demand , especially those close to good schools and shops.
- Outdoor space is highly valued
- Good neighbouring properties
Improve Rentability
It always pays to carefully assess the actual property layouts, and from that determine the best case scenario for presentation and therefore make it stand out from the crowd.
Always
- Consider the size of the property in relation to the parking arrangements – make this clear to viewers
- Install white goods in the kitchen if there is space for appliances – this shows how the space can be utilised
- Are the stairs easy to navigate
- Do all the windows open (in particular in the bathroom)
- Is the fire in the reception room in working order – or other period or focal features
- Include window dressings – something the buyer/renter doesn’t have to worry about investing in
- Ensure that the property is clean and presentable for viewings
Futher Insights
Since the 1960’s more people have owned their own home in the UK than have rented. However in recent times the dream of buying a home has diminished for a great many in Britain – especially First Time Buyers (FTB’s) – as house prices/rents & the cost of living has accelerated.
That however, is not the case locally. The number/proportion of home owners has steadily increased along with the overall demand for good quality rental accommodation in Harrogate.
This is due, in part, to the overall aesthetics, popularity & prosperity of the town. Especially since being voted the happiest place to live in the UK once more. In addition, industry is thriving in Harrogate, including start-ups, large brands choosing to be placed on Harrogate high street and the explosion of self employment.
If you would like to discuss investment opportunities in Harrogate or anything related to the residential rental marketplace then please come along and see Richard Chapman and the Lettings team , and enjoy a free no obligation chat about the Lettings and Sales services we provide.
Please visit our offices – or go to www.myringsestateagents.com to see all our properties for sale or rent.
Telephone us for sales at 01423 566400 or to let / rent at 01423 569007 or email us on richard@myringsestateagents.com or lettings@myringsestateagents.com