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  • Buy-to-Let

    Is Middlesbrough a good bet for buy-to-let?

    Hi

    I have invested in Middlesbrough over the last 5 years and have had just positive things to say about it.

    I am from South Yorkshire so I am not local to Middlesbrough and managed things from a distance.

    Definitely something to consider is how these North East areas change so dramatically from one estate to the next so knowledge of the local area (and not just figures) is key.

    (*Moderator note:  Content removed*).

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    Middlesbrough council’s formal consultation on the introduction of selective licensing into the Newport areas of the town closed on January 28 and last week its preliminary findings were presented to the local authority.

    As with other councils, this authority claimed the introduction of licensing would reduce anti-social behaviour and improve the quality of housing; the cost of licenses would be up to £750.

    However, two local property firms may challenge the scheme if it gets the formal green light.

    Full/source article

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    I spent about 10 years living at nearby at Stockton. There were some decent areas in Middlesborough but also many that weren't. I suspect the town may have deteriorated since. Local knowledge is vital, you need to know the street in question and the type of tennants you are likely to get. Factor in repair / renovation costs in case the property is damaged.

    For background, I went to view a property near Middlesborough in the very late 90's - the vendor had bought a block of 3 terraces for 8K at auction (not a typo - under £3k each !), realised he had overpaid, and was trying to sell them separately for £2k each. As soon as I drove into the street I knew I wouldn't be buying anything in that area (several boarded up houses being an obvious red flag). That was the only house I've been in where tennants had blatantly (& dangerously) been tampering with the meter for "free" electicity. Be careful.

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    "I suspect the town may have deteriorated since." What evidence do you base this on? As you go on to say local knowledge is vital, so why precede that with such an ill informed statement. As for quoting a story from nearly 30 years ago, well..................

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