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    • Bluenose123
    • By Bluenose123 10th Feb 19, 10:05 AM
    • 26Posts
    • 1Thanks
    Bluenose123
    Buy to Let in North East
    • #1
    • 10th Feb 19, 10:05 AM
    Buy to Let in North East 10th Feb 19 at 10:05 AM
    I am looking to purchase a buy to let property in the North East around the Durham/Darlington area for under 100k.
    Looking on Rightmove you can get modern 2 and 3 bedroom properties in the area well under 100k so looking for areas towns villages that let out well and those to avoid.

    Would be interested to hear from any landlords in the North East .
Page 1
    • ColdIron
    • By ColdIron 10th Feb 19, 10:08 AM
    • 5,133 Posts
    • 6,983 Thanks
    ColdIron
    • #2
    • 10th Feb 19, 10:08 AM
    • #2
    • 10th Feb 19, 10:08 AM
    I would have thought this thread would be better on the House Buying, Renting & Selling board than savings and investments. Perhaps one of the mods could move it
    • Tarambor
    • By Tarambor 10th Feb 19, 12:04 PM
    • 4,874 Posts
    • 3,805 Thanks
    Tarambor
    • #3
    • 10th Feb 19, 12:04 PM
    • #3
    • 10th Feb 19, 12:04 PM
    I would have thought this thread would be better on the House Buying, Renting & Selling board than savings and investments. Perhaps one of the mods could move it
    Originally posted by ColdIron
    Why? It is a business investment.

    For someone who is not from the North East, especially southerners, they can look like very attractive bargains and it is easy to get drawn in by the fact you can buy a house for a quarter of what it'd fetch down south. Sub 100k houses are not in exactly desirable areas, the ones in the desirable areas are north of 150k.

    Where exactly around Durham are you looking? The vast majority of places even just a few miles out from the city are poverty ridden with high levels of unemployment and lots of social issues so whilst the houses may be cheap the type of tenants you're going to get are not likely to be the ones in good employment with a regular good income. They will most likely be on welfare and housing benefit. Whilst that doesn't mean they're going to be bad tenants unfortunately the social issues that blight those areas tend to mean there's a more chance than not that you'll have problems. If you accept that going in then it is less of an issue but you need to put aside plenty of money for repairs and paying the mortgage when the rent doesn't get paid.
    • David_Evans
    • By David_Evans 10th Feb 19, 12:19 PM
    • 248 Posts
    • 134 Thanks
    David_Evans
    • #4
    • 10th Feb 19, 12:19 PM
    • #4
    • 10th Feb 19, 12:19 PM
    I am looking to purchase a buy to let property in the North East around the Durham/Darlington area for under 100k.
    Looking on Rightmove you can get modern 2 and 3 bedroom properties in the area well under 100k so looking for areas towns villages that let out well and those to avoid.

    Would be interested to hear from any landlords in the North East .
    Originally posted by Bluenose123
    I know LLs who own HMOs in Blackpool.
    They make quite a good return.
    But they are what I would describe as ''robust'' individuals.
    It's not a game for amateurs.
    • David_Evans
    • By David_Evans 10th Feb 19, 12:21 PM
    • 248 Posts
    • 134 Thanks
    David_Evans
    • #5
    • 10th Feb 19, 12:21 PM
    • #5
    • 10th Feb 19, 12:21 PM
    Why? It is a business investment.

    For someone who is not from the North East, especially southerners, they can look like very attractive bargains and it is easy to get drawn in by the fact you can buy a house for a quarter of what it'd fetch down south. Sub 100k houses are not in exactly desirable areas, the ones in the desirable areas are north of 150k.

    Where exactly around Durham are you looking? The vast majority of places even just a few miles out from the city are poverty ridden with high levels of unemployment and lots of social issues so whilst the houses may be cheap the type of tenants you're going to get are not likely to be the ones in good employment with a regular good income. They will most likely be on welfare and housing benefit. Whilst that doesn't mean they're going to be bad tenants unfortunately the social issues that blight those areas tend to mean there's a more chance than not that you'll have problems. If you accept that going in then it is less of an issue but you need to put aside plenty of money for repairs and paying the mortgage when the rent doesn't get paid.
    Originally posted by Tarambor
    If you're going to get involved in this - you're better off letting to immigrants and avoiding British tenants.
    • cosh25
    • By cosh25 10th Feb 19, 3:26 PM
    • 31 Posts
    • 102 Thanks
    cosh25
    • #6
    • 10th Feb 19, 3:26 PM
    • #6
    • 10th Feb 19, 3:26 PM
    I am from Durham (County Durham) and rent out my first home. There is big difference in the areas you have mentioned - Durham and Darlington. Durham City is very student driven with very few houses below 150k and County Durham, which I believe you may be talking about is full of outlining villages and towns, such as Darlington. A lot of these areas suffer from high unemployment and social issues. I did try using a letting agency at first, but then started managing the property myself once I got a tennant through word of mouth.
    • TBC15
    • By TBC15 10th Feb 19, 4:15 PM
    • 795 Posts
    • 465 Thanks
    TBC15
    • #7
    • 10th Feb 19, 4:15 PM
    • #7
    • 10th Feb 19, 4:15 PM
    Just sold a very nice 3 bed property in a nice village 7 miles outside of Durham for 118000. Stunned how cheap housing is.
    • Bluenose123
    • By Bluenose123 11th Feb 19, 7:31 AM
    • 26 Posts
    • 1 Thanks
    Bluenose123
    • #8
    • 11th Feb 19, 7:31 AM
    • #8
    • 11th Feb 19, 7:31 AM
    The areas we were looking at are Newton Aycliffe, Crook, Sacriston, Hougton Le Spring, Darlington, Bearpark, Quarrington Hill, Wingate, Murton, Seaham.

    We currently live abroad so looking to buy somewhere in the UK which we can let out but potentially move into once we decide to move back to the UK which would not be for at least 5 years.

    Will be interested to hear what members who know the area think of these areas and any recommendations for letting agents. We have been in contact with NMR lettings in Durham and Dh1 in Sacriston.
    • TBC15
    • By TBC15 11th Feb 19, 3:19 PM
    • 795 Posts
    • 465 Thanks
    TBC15
    • #9
    • 11th Feb 19, 3:19 PM
    • #9
    • 11th Feb 19, 3:19 PM
    The areas we were looking at are Newton Aycliffe, Crook, Sacriston, Hougton Le Spring, Darlington, Bearpark, Quarrington Hill, Wingate, Murton, Seaham.

    We currently live abroad so looking to buy somewhere in the UK which we can let out but potentially move into once we decide to move back to the UK which would not be for at least 5 years.

    Will be interested to hear what members who know the area think of these areas and any recommendations for letting agents. We have been in contact with NMR lettings in Durham and Dh1 in Sacriston.
    Originally posted by Bluenose123
    Have a look at (the extreme east side) of West Rainton. Nice place, very cheap.
    • Bluenose123
    • By Bluenose123 11th Feb 19, 3:47 PM
    • 26 Posts
    • 1 Thanks
    Bluenose123
    Thanks TBC15, we have seen a property a modern detached property at Houghton Le Spring which I believe is near West Rainton ..Are you from the area ?
    • TBC15
    • By TBC15 11th Feb 19, 4:07 PM
    • 795 Posts
    • 465 Thanks
    TBC15
    Thanks TBC15, we have seen a property a modern detached property at Houghton Le Spring which I believe is near West Rainton ..Are you from the area ?
    Originally posted by Bluenose123
    Many.many years ago.
    • cosh25
    • By cosh25 11th Feb 19, 4:19 PM
    • 31 Posts
    • 102 Thanks
    cosh25
    Im from Houghton Le Spring... very popular with workers at Doxford Business Park in Sunderland and good transport links to Durham, Sunderland and Newcastle. There are some areas worth avoiding, but on whole is a nice area (like anywhere I guess!)
    • Bluenose123
    • By Bluenose123 11th Feb 19, 4:31 PM
    • 26 Posts
    • 1 Thanks
    Bluenose123
    Thanks Cosh25, really appreciate your input especially as you are from the area. What are your thoughts on the other areas I have listed ?
    • cosh25
    • By cosh25 11th Feb 19, 7:13 PM
    • 31 Posts
    • 102 Thanks
    cosh25
    No problem. I'm very familiar with both Murton and Seaham as they're quite close together. I would stick to these areas as they are close to the urban centres or maybe go across to Chester-le-street way. Main reason is that these areas are very popular with first time renters and young proffesionals who commute into Sunderland, Durham and Newcastle. The further out you go such as Sacriston, Newton Aycliffe the less of an appetite you get for the above as the roads, rail and buses are quite limited and unemployment is somtimes higher etc. This is by no means a one size fits all however.
    • Zero Sum
    • By Zero Sum 11th Feb 19, 7:41 PM
    • 801 Posts
    • 630 Thanks
    Zero Sum
    Thanks Cosh25, really appreciate your input especially as you are from the area. What are your thoughts on the other areas I have listed ?
    Originally posted by Bluenose123
    Murton is largly a pit village but since Dalton Park opened its had a bit of investment. I wouldnt live there.
    Seaham on the sea front is nice, further inland is mainly a council estate
    Wingate id avoid. One big council estate but has a few ok parts on the outskirts
    • movilogo
    • By movilogo 11th Feb 19, 7:51 PM
    • 2,592 Posts
    • 1,915 Thanks
    movilogo
    Lincolnshire e.g. Grimsby, Cleethorpes etc. are even cheaper where you can still get a 3-bed house for 60k.


    But rents are low, tenants default frequently and vandalizing properties is not uncommon.
    Happiness is buying an item and then not checking its price after a month to discover it was reduced further.
    • Bluenose123
    • By Bluenose123 11th Feb 19, 7:51 PM
    • 26 Posts
    • 1 Thanks
    Bluenose123
    Many thanks for the advice. Coming across in March to view properties so really appreciate the advice.
    Was getting a little concerned with some of the comments saying avoid British tenants and rent to immigrants or likely to only get renters on benefits and more likely than not to have problems .
    Whilst I appreciate the warnings in these comments and I will certainly take on board the advice, I am hoping we can find a good property and reliable tenants so good to get some positives to go with the negatives.
    Do you have any recommendations for letting agents offering fully managed service. As I say I have been in touch with Nmr in Durham and Dh1 in Sacriston but always good to have recommendations
    • Zero Sum
    • By Zero Sum 11th Feb 19, 9:31 PM
    • 801 Posts
    • 630 Thanks
    Zero Sum
    You'd probably struggle to get immigrant tennants to be fair as not that much round there. But id try to avoid people of benefits. As you're looking to potentially live there eventually what do you want from the area. In terms of transport links, shopping etc. Whilst the NE is generally cheap anyway but there is a reason some places are even cheaper & its largly lack of facilities.

    Quarrington hill is in middle of nowhere, which is fine if you want somewhere quiet & a bit rural. Newton Aycliffe is a 70's new town (Peterlee is similar and also cheap).

    I dont have any experience with letting agents but Downs are a fairly established one in the region

    https://www.dowen.co.uk/Letting
    Last edited by Zero Sum; 11-02-2019 at 9:34 PM.
    • fiisch
    • By fiisch 11th Feb 19, 9:48 PM
    • 381 Posts
    • 206 Thanks
    fiisch
    My mum is from Darlington originally (she saw the light in her teens and moved to the Southeast), and also recently bought a buy to let... but went for Bournemouth, a 1 bed flat for around 120k. However, a year on, the current climate is far from ideal for buy to let - doubtless there is still a profit to be made, but it's not the cash cow it once was.

    Whilst the prices are tempting in that area, it is so cut off and with such high unemployment, you're unlikely to see much gains in terms of house price. Is there any reason for looking at County Durham other than price, as there's other areas with similar prices but I'd suggest perhaps better prospects for a potential BTL landlord....
    Save 6k in 2018: 1651.19 / 6000
    • Bluenose123
    • By Bluenose123 11th Feb 19, 9:53 PM
    • 26 Posts
    • 1 Thanks
    Bluenose123
    Thanks Zero Sum . Middle of nowhere is great for me as used to live in Mid Wales and 10 miles round trip to nearest shop but thats not going to be great for buy to let so will need to look at a compromise . Would therefore prefer somewhere where we could find working tenants easily and low crime area. Seaham looks nice and by the sea which is a bonus but possibly outside our price range as prefer newer properties and think they would let easier. Are you from the area and do you have property you rent out . Would be interested to hear your thoughts on which areas we should be looking at and also places to avoid . From doing my own research I have heard that places like Stanley, Esh Winning, Easington Lane, Peterlee and Wheatley Hill should be avoided but great to get views from anyone from the area..
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