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sorry to bump old thread, let me know if i should open this question as new thread.
I'm also looking to buy 2 bed apartment in the center of Sunderland (West Wear St) and would like to know what you think of investment in Sunderland nowadays in general
and what do you think on the location, how easy to let this type of property to students?
How bad is to purchase an apartment that faces city side vs river side?
any info on the city and location will be highly appreciated.
Nissan have pulled one of their main production cars back to Japan - it’s not looking to good - I am often in Newcastle and visit Sunderland as they have quite a good theatre there but there is an increasing desperate feel about the place .
as I said before if Nissan goes then the area will become even more depressed and property will be supported in the main on housing benefit levels. Don’t lose sight of the fact that housing benefit will be under attack from whatever government is in power
Thanks, how do you see investment in real estate of 2 bed room apartment today?
Is this something you would take?
Can you tell me a bit more about the university as the appartment will be rented by students.
Great to see that you want to invest! You can achieve some great yields in Sunderland, but you may want to think about what One of Smilies People have said about the area.
What has drawn you to a 2 bed in Sunderland? Is the area local to yourself?
Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.
i was offered to invest in 2 bed in Sunderland that has current tenat and I'm trying to learn as much as I can on the city and property to determine if
this is a good investement in this point.
I read about Nissan pulling out main production line and wanted to ask how this may affect the city and the young professionals / students in the city as they rent bed appartment.
It would be great to hear how you see the brexit affect on the city?
I just came across this article that has some bad news about Sunderland, saying that:
This sounds like bad news to the city and to the real estate.
Again, your point of view as locals will be highly appreciated.
If the property is currently tenanted then you have a guaranteed rental income.
There is a lot of fearmongering around Brexit, and it is down to people’s personal opinions and situations as to how it will affect them.
The economy constantly fluctuates and Brexit has yet to hit hard on Sunderland, if it will at all.
Nissan pulling out may affect the city overall but not necessarily rental demand.
Go with what is best for yourself, if you feel confident with the property then go for it.
Hope this helps and if you have any more questions please don’t hesitate to ask. Looking forward to an update!
I am a NE Landlord
and I honestly believe NISSAN will go and others too ?
So What ?? from the point of view of a Landlord
The NE has lost bigger in the past and survived
As long as your charging an LHA rent you wont go far wrong
Your property will still rent But you will not get a lot of Capital Growth if the North is effected by us leaving the EU
If your looking for capital growth dont invest in the NE
The strategy in the NE is a very different one
Buy on yield and cash flow and you cant go wrong
But get to know the market get to know the streets
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Thanks for this response, cash flow is great, what considered a good cash flow in the NE?
As for capital growth I noticed that prices dropped dramatically in the past 10 years, apartments that were purchased 10 years ago valued at 200K pounds, now you can get them around 80K.
Do you think property prices in the NE will not go up from this point? or we haven't seen the bottom yet?
I'm interested to hear if you're familiar with other city centers in the UK that can provide both good cash flow and capital and are valued at 80K - 100K pounds.
I know about the properties that were built for 200k and sold for 80k
I am not sure that is a true refelction of the sunderland market
Im quite sure they were new builds and over priced when they were built
I am not a sunderland investor but I can give you info in the Newcastle Market
2003 two bed flats were 55k
2007 pre crash 95K
2007 After crash 55k
2019 today around 75K
so in real terms they are still short of 20k
I feel now the market is stagnating and prices are not rising and starting to fall
I personalty will buy but only if the price is around the post crash price of 55k
I would imagine Sunderland will be in a slimier situation to Newcastle
I would not buy City Center flats I prefer 3 bed houses away from city center
I think prices will rise but it will take another 10 years to see the price before the crash in 2007 ie 95k
I see, so basically we're talking about cash flow.
What is a good cash flow ratio in your opinion before tax?
It would be great to hear Sunderland locals opinion on the city and the future of its real estate.