Buy to Let in North East

cosh25 · 11 February 2019 at 6:19PM

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 · 11 February 2019 at 6:31PM

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 · 11 February 2019 at 9:13PM

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 · 11 February 2019 at 9:41PM

Bluenose123 wrote: »

Thanks Cosh25, really appreciate your input especially as you are from the area. What are your thoughts on the other areas I have listed ?

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 · 11 February 2019 at 9:51PM

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.

Bluenose123 · 11 February 2019 at 9:51PM

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 · 11 February 2019 at 11:31PM

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

fiisch · 11 February 2019 at 11:48PM

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....

Bluenose123 · 11 February 2019 at 11:53PM

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..

Bluenose123 · 11 February 2019 at 11:56PM

Thanks Fiisch. Main reason for County Durham is price but I also like the area which is important as we aim to move back to the uk in 5 to 10 years time.

Buy to Let in North East

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