Month: December 2017 Page 2 of 5

Top 20 least expensive streets in Street and Glastonbury – Part 1 (20-17)

In a recent article (here) I looked at the top 20 most expensive streets in Street and Glastonbury but which streets are the least expensive? First-time buyers will be interested to know where they have the best chance to get their foot on the housing ladder and investors with just a small pot of money will want to know where they can buy a rental property to suit their budget. Using the same methodology as that used for the ‘most expensive’ article I.e. At least 10 properties sold in the thoroughfare in the last 10 years I now bring you the top 20 least expensive streets in Street and Glastonbury. How many of these can you guess?

20 – Woods Road (Street)

Average price paid – £145,778. There are 48 dwellings in Woods Road, 6 of which were built in 1950. The most expensive recorded transaction in Woods Road to date is 19, which sold for £185,000 on 22/07/2016. Woods Road almost certainly gets it’s name from the ancient woodland of Hound Wood which was once a prominent feature in that area. In 1656 Hound Wood covered 50 acres and had 1,200 oaks but was completely cleared in 1841.

19 – Blagrove Close (Street)

Average price paid – £142,778. The name Blagrove has a long association with Street and the wooded landscape that was once part of Street. Blagrove Close comprises 45 homes. 8 of these properties were built in 1980. The property sales that have the highest recorded prices in Blagrove Close to date are 23, which sold on 10/08/2016 and 14, which sold on 27/01/2017 both for £167,500.

18 – Glaston Road (Street)

Average price paid – £141,416. Glaston Road consists of 40 dwellings as well as the Baptist Church of which 17 are flats. The property sale that has the highest recorded price in Glaston Road to date is 4, which sold on 30/07/2007 for £300,000. The Street (Mead) Gate toll house replaced the toll house at Northover bridge in 1783.

17 – Strode Road (Street)

Average price paid – £139,904. Strode Road is home to 183 dwellings and Tor View Court retirement living. The most expensive recorded transaction in Strode Road to date is 56, which sold on 20/01/2017 for £265,000. The least expensive transaction that has been recorded in Strode Road is 143. It sold on 29/01/2001 for £17,920.

The series continues with number 16 in the next article.

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk

Rents in Mid Somerset on the rise but not soaring

The BBC recently reported the headline Homelessness in England ‘a national crisis’, say MPs.

Polly Neate, head of the housing charity Shelter, blamed a “chronic lack of genuinely affordable homes combined with soaring rents and cuts to welfare”. I was quite shocked to read that ‘soaring rents’ were cited as a cause of homelessness as I am not aware of any rents soaring.

The Valuation Office Agency (VOA) last week released their latest statistics on the rental market (here). Looking at the statistics for the average monthly rents in the Mendip district October 2015 – September 2016 compared to October 2016 – September 2017 and the percentage increase between the two, shows the true picture of actual rents paid:

Room £362 £384 6.1%
Studio £359 £403 12.3%
One Bedroom £466 £486 4.3%
Two Bedroom £628 £636 1.3%
Three Bedroom £786 £811 3.2%
Four or more Bedrooms £1224 £1159 -5.3%
All £685 £694 1.3%

 

Based on the latest VOA statistics rents have seen a modest 1.3% increase in the Mendip district over the last 12 months. Soaring rents? No hardly, not in the Mendip district at least.

About Tom Morgan

Founder of Jungle Property the multi award-winning letting agent based in Glastonbury, Somerset. I am passionate about property and Glastonbury and about providing the very best advice to anyone who wants the best return on a buy-to-let property investment. For an open and brutally honest opinion on anything in the Glastonbury property market please contact me via tom.morgan@jungleproperty.co.uk

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