Property of the week – Church Road, Boston. £129,950

This well presented house is located within close proximity to Boston town centre. The well appointed internal accommodation includes entrance hall, downstairs cloakroom, lounge, kitchen, conservatory, 3 bedrooms and family bathroom.  The house further benefits from off road parking to the front and an enclosed garden to the rear. Within short walking distance is the town centre, Boston Grammar School and various shops. The property should achieve a yield of around 6.3% with a rental income of £675

The property is currently on the market with Drurys Estate Agents. Click the link for full details

75.6% of Boston Voters voted to leave the EU – What now for the 13,904 Boston Landlords and Homeowners?

It’s 5.50am as I start to type this article and David Dimbleby has just announced the UK will be leaving the EU as the final votes are counted. As most of the polls suggested a Remain Vote, it came as a surprise to most people, including the City. The Pound has dropped 6% this morning after the City Whiz kids got their predictions wrong and MP’s from the Remain camp are using words like “challenging times ahead”. Continue reading “75.6% of Boston Voters voted to leave the EU – What now for the 13,904 Boston Landlords and Homeowners?”

137% increased in Property Values in Boston since the Millennium

Boston house prices since the Millennium have risen by 137.38%, whilst average salaries in Boston have only grown by 51.27% over the same time frame. This has served to push homeownership further out of reach for many Boston people as they have to battle against raising considerable deposits and meet sterner lending criteria, as a result of new mortgage regulations introduced in 2014/5.  The private rental market in Boston has grown throughout the last twenty years with buy-to-let investors purchasing a high proportion of newly built residential properties that were built and designed for the owner occupier sales markets.  For example, in the Boston and Skegness Constituency, roll the clock back 20 years and there were 35,602 properties in the Constituency, whilst the most recent set of figures show there are 43,799 properties – a growth of 8,197 properties. Continue reading “137% increased in Property Values in Boston since the Millennium”

Asking Prices of Boston Property up 5% in the last year

I had an interesting question the other day from a homeowner in the Skirbeck Quarter who asked me the difference between asking prices and values and why it mattered. When it comes to selling property, there must be agreement between the purchaser (buyer) and seller (vendor) for a property sale to take place. The value a buyer applies to a property can massively differ from the value a seller or mortgage company places upon it. The seller, the buyer and the mortgage company must find an agreeable value to assign to a property so the sale can proceed. Continue reading “Asking Prices of Boston Property up 5% in the last year”

10.41% slump in Lincolnshire and Boston Property Transactions

In this post credit crunch world of sub terrain low interest and annuity rates so low a limbo dancer would smart, the growth of buy to let since 2009 has been phenomenal. So much so, there has been an evolution in purchase of property in the UK from that of just buying the roof over one’s head to that of a buy to let investment where it is seen as a standalone financial asset to fund current and future (i.e. pensions) investment. So recently, a few days before the release of latest Land Registry data of property transactions, quite a few market commenters were anticipating a huge increase in the number of properties sold in January as the 1st of April 2016 stamp duty deadline got closer. Continue reading “10.41% slump in Lincolnshire and Boston Property Transactions”