We are often asked about how to find a good property deal in Grimsby. We don’t sell property but we do purchase properties on behalf of investors. And we are happy to advise landlords looking to purchase in the area. Despite the lockdown, there are still bargains to be had around the town.
A 3 bedroom end of terrace property on Fairmont Road sold in 1917 for £80,000. In February this year, the same property sold for £75,000, a drop in value of 6%!
Again, a 3 bedroom terrace on Durban Road recently sold for £67,750. Yet it was bought in 2010 for £86,000. That is a whopping reduction of 21%! Both of these are excellent value properties. And both properties are below the average property price for this postcode of £80,476.
Finally, another terraced house, this one with 2 bedrooms on Convamore Road sold in 2011 for £69,500. But in January this year it sold for just £62,000.
Considering that over the past 5 years, house prices have risen in this area by an average of 10.2% buyers have picked up some good bargains.
We manage properties on each of these streets, so we know that they are popular with the rental market. This area is particularly popular with retirees and young couples or young families. As family homes, these properties could achieve a rental income of £400 – £550 per month.
Whether you are a landlord of ours or not, if you want to find a good property deal in Grimsby or Cleethorpes, we will be pleased to offer you some advice. Make an appointment for a video chat with Keith here.
