Landlord Market Insight Magazine - Issue #1

Page 1

INSIGHT LANDLORD MARKET JeffreyRoss INSIGHT MAGAZINE ISSUE #1 CARDIFF RENTALS Discover the latest rental prices in all key areas in Cardiff, Penarth & The Vale. FAQS FOR LANDLORDS The most frequently asked questions since the changes to the Renting Homes (Wales) Act 2016.

AREAS WE COVER

PONTCANNA, CANTON, ROATH, PENYLAN, PENARTH, VALE OF GLAMORGAN, CARDIFF BAY, CITY CENTRE & NORTH CARDIFF.

Pontcanna Street, Pontcanna
3 CONTENTS EDITOR'S INTRODUCTION 4 AREAS WE COVER 6 PONTCANNA / CANTON STATISTICS 8 PONTCANNA / CANTON FEATURED PROPERTIES 10 ROATH / PENYLAN STATISTICS 14 ROATH / PENYLAN FEATURED PROPERTIES 16 CARDIFF BAY / CITY CENTRE STATISTICS 20 CARDIFF BAY / CITY CENTRE FEATURED PROPERTIES 22 PENARTH & THE VALE STATISTICS 26 PENARTH & THE VALE FEATURED PROPERTIES 28 CATHAYS STATISTICS 32 CATHAYS FEATURED PROPERTIES 34 NORTH CARDIFF STATISTICS 38 NORTH CARDIFF FEATURED PROPERTIES 40 WHY SELL / LET WITH JEFFREYROSS 44 TENANCIES AND LICENCES CHANGES 50 WHAT IS RIGHT TO MANAGE? 52 BUY TO LET DEVELOPMENT 54 SEEL & CO SURVEYS 56 JR CLIENT EXPERIENCE 58

EDITOR'S INTRODUCTION

LANDLORD MARKET INSIGHTS EXPLAINED

At JeffreyRoss we believe in getting the important things right which is why we look at property value very differently to our competitors. We have put together our market insight for landlords across Cardiff and the key areas that we cover to enable you to get a full understanding of what is happening with the rental market in your area.

Our market insights will help you to make informed decisions on your next property transaction, whether that be buying, selling, renting or letting.

We have teamed up with the industry leader Dataloft Inform to provide these insights. Dataloft compile comprehensive data sets based on property transactions, size, type as well as comparisons that date back to the early 90s!

Dataloft use resources from the ONS and Land Registry to compile this data, updated every 4 weeks allowing us to have our fingers on the pulse when it comes to property transactions in all of the areas we cover.

Most importantly, it empowers us to not only justify the values we set, but to help clients understand where the valuations come from and how the market is reacting.

These landlord insights will be released every 6 months and will focus mainly on the lettings market in Cardiff and surrounding areas along with featured properties and expert commentary from various fields like conveyancing, construction, finance, project management etc.

We hope you find this information both insightful and useful when considering your next move.

4
Pontcanna Fields, Pontcanna

AREAS WE COVER

WE KNOW CARDIFF & THE VALE

Pontcanna / Canton

Pontcanna has long been recognised as one of the most popular and expensive areas to live in South Wales, despite still not being recognised by Cardiff Council as an official area. CF11 9 is the postcode that covers the entire territory and the postcode data we base our findings on.

The Canton postcode has seen increasing popularity through lockdown and post-covid thanks to the size of the gardens in the area. The area covers everything from Llandaff Road, Cowbridge Road West, Aldsworth Road and joins back along one side of Pencisely Road back to the top of Llandaff Road.

Postcode areas:

CF11 8, CF11 9, CF5 1

www.jeffreyross.co.uk/we-know-pontcanna www.jeffreyross.co.uk/we-know-canton

Roath / Penylan

Roath offers a stunning view all year round and is well known for it’s impressive houses and greenery. The neighbourhood is full of food and drink options, especially on Wellfield Road. Roath also features many hidden gems and quirks, with vintage markets and independent hang outs.

Penylan is a quiet suburb in eastern Cardiff. This area is directly east of Roath and north of Adamsdown and Splott and is well known for its Edwardian era houses and spacious treelined avenues. Roath / Penylan postcode values have increased by over 24% in the 12 months.

Postcode areas:

CF23 5, CF24 3

www.jeffreyross.co.uk/we-know-roath www.jeffreyross.co.uk/we-know-penylan

Cardiff Bay / City Centre

Cardiff Bay is the coastal corner of Wales' capital and only a short bus or train ride from the City Centre. The bay area is now a vibrant waterfront and is very popular with young professionals and buy to let investors.

Cardiff City Centre features a mix of apartments of all shapes and sizes with a varying price difference. The City Centre values have seen a marked improvement in the last 12 months which is thankful to both Central Quay and Central Square developments, as well as the electrification of the train line meaning shorter travel times to Bristol and London.

Postcode areas:

CF10 1, CF10 2, CF10 3, CF10 4, CF10 5, CF11 0

www.jeffreyross.co.uk/we-know-cardiff-bay www.jeffreyross.co.uk/we-know-city-centre

6

Penarth & The Vale

Penarth is an elegant seaside town with Victorian Pier, Art Deco Pavilion, charming Esplanade and modern Marina. Splendid parks link the coast to the traditional town centre with its Victorian arcade, independent shops and cafés.

The Vale of Glamorgan includes the towns of Barry, Penarth, Dinas Powys and Llantwit Major. The mainly rural county includes Cosmeston Lakes Country Park, Dyffryn Gardens, Ogmore Castle, Cosmeston Medieval Village, and the Glamorgan Heritage Coast.

Postcode areas:

CF5 6, CF61 1, CF61 2, CF62 3, CF62 4, CF62 5, CF62 6, CF62 7, CF62 8, CF62 9, CF63 1, CF63 2, CF63 3, CF63 4, CF64 1, CF64 2, CF64 3, CF64 4, CF64 5, CF71 7

www.jeffreyross.co.uk/we-know-penarth www.jeffreyross.co.uk/we-know-valeofglamorgan

Cathays

Cathays is known for being Cardiff’s student hub but don’t let this put you off, it only adds to the charm. Student housing areas often result in a bustling nightlife with plenty to see and do for all ages and walks of life.

Cathays is home to a vast range of bars, and so many restaurants that you’ll be left spoilt for choice. Salisbury Road is known as ‘The Strip’ of Cathays, which guarantees a good night out.

Property prices in Cathays are at a record high with some student properties going for £250+ more per calendar month than the previous year.

Postcode areas:

CF24 4

www.jeffreyross.co.uk/we-know-cathays

North Cardiff

North Cardiff area covers Llanishen, Lisvane, Heath, Thornhill, Rhiwbina, Whitchurch, Cyncoed, Old St Mellons, Pontprennau and Tongwynlais.

The area offers a wide range of property styles from bungalows, apartments, maisonettes, terraced houses, semi-detached houses, detached houses as well as modern new homes.

North Cardiff postcodes have seen an increase in popularity and rental prices have risen by 18.4% in the last 12 months and nearly 30% in the last 5 years.

Postcode areas: CF14 0, CF14 1, CF14 2, CF14 3, CF14 4, CF14 5, CF14 6, CF14 7, CF14 9

www.jeffreyross.co.uk/we-know-cardiff

7

RENTAL VALUES HAVE INCREASED 56.3% IN THE LAST 5 YEARS.

AVERAGE HOUSE RENT ACHIEVED IN THE LAST 12 MONTHS

£1,088 PCM

Source: Dataloft

Pontcanna Fields, Pontcanna

PONTCANNA / CANTON STATS

Lettings Values

Telephone: 02920 499680

Direct Dial: 02922 744482

Email: gwyn@jeffreyross.co.uk

Instagram: @gwyn_jeffreyross

9
ON RENTAL FIGURES FOR THE LAST 12 MONTHS Visit www.jeffreyross.co.uk/we-know-pontcanna and www.jeffreyross.co.uk/we-know-canton for up-to-date rental figures. * Figures based on actual transactions in the last 12 months
BASED
Gwyn Davies
How much do houses let for? How much do flats let for? Rental values have changed by % tenants aged between 25 and 29 £1,088 £816 per month per month last 12 months 7.7% 30.0% Detached Semi-detached Terraced Flats By property type Average rent price last 12 months £1,299 £1,103 £1,067 £816 Rent price change last 12 months 0.06% 11.6% Rental values have changed by last 5 years 56.3% % of market last 12 months 1.1% 24.7% 8.6% 65.6% 2.4% 19.8% % of households in the Private Rented Sector 27.0% Average rent per sq.ft last 12 months £17.67 £16.25 £14.00 £18.61
If you have a 650 sq.ft flat in Pontcanna / Canton, your average monthly rent would be: 650 (sq.ft of property) x £18.61 (average rent per sq.ft) ÷ 12 = £1,008 each month (subject to condition) *
your FREE rental price assessment
our area specialist
make sure your property is
For Human Habitation (FFHH):
*Average
rent per
sq.ft
- What does this mean for you?
Book
with
Gwyn and
Fit

FEATURED RENTAL PROPERTY

JeffreyRoss were delighted to market this stunning two bedroom detached house on the popular Conway Road, right in the heart of Pontcanna.

The property was built to the rear of a converted three storey house on Conway Road and was finished to an immaculate standard and benefitted from an allocated parking space to the front and a electric car charging point.

The property briefly comprised of an entrance hallway, W/C, utility cupboard with washer and dryer, large open-plan kitchen/living room with dishwasher, wine fridge, fridge-freezer and induction hob all integrated.

The property also included under floor heating, sliding glass doors to the front of the living room, a family bathroom with walk in shower, two double bedrooms (one with a Juliet Balcony) and a small private courtyard to the rear.

EPC Rating: B Council Tax Band: E

For more rental properties in Pontcanna/Canton areas, please contact our area specialist Gwyn on:

Telephone: 02920 499680

Email: gwyn@jeffreyross.co.uk

Instagram: @gwyn_jeffreyross

Instagram: @jeffreyross_pontcanna

Gwyn Davies
THE STABLES, CONWAY ROAD, PONTCANNA - £1,975 PCM 2 bedrooms 2 bathrooms 1245 sq.ft

FEATURED RENTAL PROPERTIES

ENQUIRIES
THE ASKING PRICE.
40
AND LET FOR £150 OVER
2
2
2
1
ENQUIRIES, 8 OFFERS AND LET FOR
The Glas, Pontcanna £1,400 PCM
bedrooms
bathrooms 742 sq.ft Maldwyn Street, Pontcanna £1,300 PCM
bedrooms
bathroom 654 sq.ft 48
£100 OVER ASKING PRICE.
12 ENQUIRIES, 5 OFFERS AND LET FOR OVER ASKING PRICE. The Boulevard, Canton £825 PCM 1 bedroom 1 bathroom 516 sq.ft Tair Erw Gain, Canton £1,350 PCM 2 bedrooms 2 bathrooms 694 sq.ft 73 ENQUIRIES, 10 OFFERS AND LET FOR OVER ASKING PRICE.

ROATH / PENYLAN STATS

BASED ON RENTAL FIGURES FOR THE LAST 12 MONTHS

Lettings Values

How much do houses let for?

How much do flats let for?

Rental values have changed by

£971 £779 per month per month

% of market last 12 months 3.6% 23.2% 3.6% 69.6% 34.6% -0.95%

*

*Average rent per sq.ft - What does this mean for you?

If you have a 650 sq.ft flat in Roath / Penylan, your average monthly rent would be: 650 (sq.ft of property) x £16.19 (average rent per sq.ft) ÷ 12 = £877 each month (subject to condition)

% tenants aged between 22 and 24

24.3% 28.4%

% of households in the Private Rented Sector 44.0%

Telephone: 02920 499680

Direct Dial: 02922 744515

Email: lauren.king@jeffreyross.co.uk

Instagram: @lauren_jeffreyross

14
the
12 months Lauren King Visit
and
for up-to-date rental figures.
* Figures based on actual transactions in
last
www.jeffreyross.co.uk/we-know-roath
www.jeffreyross.co.uk/we-know-penylan
last 12 months Detached Semi-detached Terraced Flats By property type Average rent price last 12 months £1,178 £1,210 £911 £779 Rent price change last 12 months 56.7% 17.9%
Rental values have changed by last 5 years Average rent per sq.ft last 12 months £15.69 £16.91 £9.69 £16.19
24.3%
Book your FREE rental price assessment with our area specialist Lauren and make sure your property is Fit For Human Habitation (FFHH):

RENTAL VALUES HAVE INCREASED 24.3%

IN THE LAST 5 YEARS.

AVERAGE HOUSE RENT ACHIEVED IN THE LAST 12 MONTHS

Roath Park, Roath Source: Dataloft £971 PCM

FEATURED RENTAL PROPERTY

JeffreyRoss were delighted to market this beautifully presented three bedroom house located on Mafeking Road in Penylan.

The property briefly comprised of a large bay fronted lounge which had been superbly presented with modern, stylish decor. The kitchen/diner space was located to the rear of the property and was extended to make a lovely entertaining space with double doors leading to the rear garden.

On the first floor there were three double bedrooms, all of which were a very good size, double glazed and neutrally decorated.

The family bathroom was modern and included a large shower, toilet and sink basin.

EPC Rating: D Council Tax Band: F

For more rental properties in Roath/Penylan areas, please contact our area specialist Lauren on:

Telephone: 02920 499680

Email: lauren.king@jeffreyross.co.uk

Instagram: @lauren_jeffreyross

Instagram: @jeffreyross_roath

3 bedrooms 1 bathroom 1260 sq.ft Lauren King
MAFEKING ROAD, PENYLAN, CARDIFF - £1,200 PCM

FEATURED RENTAL PROPERTIES

40 ENQUIRIES, 8 OFFERS AND LET FOR £150 OVER ASKING PRICE.

60 ENQUIRIES AND LET FOR £100 OVER THE ASKING PRICE.

18
Ninian Road, Roath Park £1,200 PCM 2 bedrooms 1 bathroom 1001 sq.ft Cyfartha Street, Roath £1,200 PCM 2 bedrooms 1 bathroom 957 sq.ft
19 60 ENQUIRIES, 8 OFFERS AND LET WITHIN THE FIRST WEEK OF BEING LIVE. Connaught Road, Roath £850 PCM 1 bedroom 1 bathroom 429 sq.ft Howard Terrace, Roath £750 PCM 1 bedroom 1 bathroom 426 sq.ft 30 ENQUIRIES, 10 OFFERS AND LET FOR OVER ASKING PRICE.

RENTAL VALUES HAVE INCREASED 30.6% IN THE LAST 5 YEARS.

AVERAGE HOUSE RENT ACHIEVED IN THE LAST 12 MONTHS

£1,003 PCM

The Pierhead, Cardiff Bay Source: Dataloft

CARDIFF BAY / CITY CENTRE STATS

Lettings Values

29

*Average rent per sq.ft - What does this mean for you?

If you have a 650 sq.ft flat in Cardiff Bay / City Centre, your average monthly rent would be: 650 (sq.ft of property) x £17.86 (average rent per sq.ft) ÷ 12 = £967 each month (subject to condition)

% of households in the Private Rented Sector 55.0%

Book your FREE rental price assessment with our area specialist Lauren and make sure your property is Fit For Human Habitation (FFHH):

Telephone: 02920 499680

Direct Dial: 02922 744515

Email: lauren.king@jeffreyross.co.uk

Instagram: @lauren_jeffreyross

21
ON RENTAL
LAST 12 MONTHS Lauren King * Figures based on actual transactions in the last 12 months Visit www.jeffreyross.co.uk/we-know-cardiff-bay and www.jeffreyross.co.uk/we-know-city-centre for up-to-date rental figures.
BASED
FIGURES FOR THE
Detached Semi-detached Terraced Flats By property type Average rent price last 12 months N/A £975 £1,007 £984 Rent price change last 12 months 8.92% 11.8%
values
last 5 years
% of market last 12 months 3.3% 0.5% 96.2% 103.9%
Average rent per sq.ft last 12 months £17.40 £12.77 £17.86
How much do houses let for? How much do flats let for? Rental values have changed by % tenants aged between 25 and
£1,003 £984 per month per month last 12 months 11.6% 31.1%
Rental
have changed by
30.6%
* N/A N/A N/A

FEATURED RENTAL PROPERTY

WESTGATE STREET, CARDIFF CITY CENTRE - £1,200 PCM

JeffreyRoss were delighted to market this stunning two bedroom, top floor apartment located on Westgate Street in the heart of the City Centre (opposite the Principality Stadium and Cardiff Arms Park).

The property was beautifully presented from topto-bottom with designer furnishings, an open-plan living room/kitchen which was complete with a wallmounted TV and breakfast bar area.

The property also featured two large double bedrooms, one with an en-suite shower room.

Both bedrooms were beautifully furnished with double beds and good storage for clothes.

EPC Rating: C Council Tax Band: E

For more rental properties in City Centre/Cardiff Bay areas, please contact our area specialist Lauren on:

Telephone: 02920 499680

Email: lauren.king@jeffreyross.co.uk

Instagram: @lauren_jeffreyross

Instagram: @jeffreyross_roath

2 bedrooms 2 bathrooms 700 sq.ft Lauren King

FEATURED RENTAL PROPERTIES

25 ENQUIRIES, 6 OFFERS AND LET FOR £100 OVER ASKING PRICE.

65 ENQUIRIES AND LET WITHIN THE FIRST WEEK OF BEING LIVE.

24
2 bedrooms 2 bathrooms 785
3 bedrooms 1 bathroom
The Hayes, City Centre £1,750 PCM sq.ft Judkin Court, Cardiff Bay £1,250 PCM
1001 sq.ft
25 105 ENQUIRIES, 12 OFFERS AND LET FOR £50 OVER ASKING PRICE. Pendeen House, Cardiff Bay £1,250 PCM 2 bedrooms 2 bathrooms 723 sq.ft Dixie Apartments, Cardiff Bay £1,100 PCM 2 bedrooms 1 bathroom 624 sq.ft 43 ENQUIRIES, 5 OFFERS AND LET FOR £150 OVER ASKING PRICE.

PENARTH & THE VALE STATS

BASED ON RENTAL FIGURES FOR THE LAST 12 MONTHS

Lettings Values

How much do houses let for?

How much do flats let for?

Rental values have changed by

Rental values have changed by last 5 years % of market last 12 months 4.0% 33.1% 19.9% 43.0%

£1,037 £815 per month per month

*

Average rent per sq.ft last 12 months £16.68 £14.51 £14.42 £16.22

*Average rent per sq.ft - What does

If you have a 650 sq.ft flat in Penarth / Vale of Glamorgan your average monthly rent would be: 650 (sq.ft of property) x £16.22 (average rent per sq.ft) ÷ 12 = £879 each month (subject to condition)

% tenants aged between 25 and 29

11.4% 19.8%

% of households in the Private Rented Sector 15.0%

Book your FREE rental price assessment with our area specialist Lisa and make sure your property is Fit For Human Habitation (FFHH):

Telephone: 02920 415161

Email: lisaattwell@acjproperties.com

Website: www.acjproperties.com

Instagram: @acjproperties

26
* Figures based on actual transactions in the last 12 months Visit www.jeffreyross.co.uk/we-know-penarth and www.jeffreyross.co.uk/valeofglamorgan for up-to-date rental figures.
Lisa Attwell
last 12 months Detached Semi-detached Terraced Flats By property type Average rent price last 12 months £1,510 £1,030 £1,007 £815 Rent price change last 12 months 15.9% 13.2%
50.7% 1.23% 14.4%
this mean for you?

RENTAL VALUES HAVE INCREASED 50.7% IN THE LAST 5 YEARS.

AVERAGE HOUSE RENT ACHIEVED IN THE LAST 12 MONTHS

£1,037 PCM

Penarth Pier, Penarth Source: Dataloft

FEATURED RENTAL PROPERTY

THE GRANARY, LLANCARFAN, VALE OF GLAMORGAN - £2,500 PCM

ACJ Lettings were proud to market this beautiful single storey barn conversion located in Llancarfan in the Vale of Glamorgan.

The property briefly comprised of a large lounge leading off to a stunning contemporary kitchen / dining area, utility room, cloakroom WC, four double bedrooms (two with en-suite shower rooms) and a main beautifully designed family bathroom.

To the front of the property there was enclosed gated parking and to the rear there was a lawned area with a patio overlooking the beautiful scenic countryside.

The single storey barn also had underfloor heating throughout to finish off the beautiful renovation.

EPC Rating: E Council Tax Band: H

For more rental properties in Penarth and The Vale, please contact our area specialist Lisa on:

Telephone: 02920 415161

Email: lisaattwell@acjproperties.com

Website: www.acjproperties.com

Instagram: @acjproperties

4 bedrooms 3 bathrooms 1883 sq.ft Lisa Attwell

FEATURED RENTAL PROPERTIES

TO LET CONTACT ACJ LETTINGS ON: 02920 415161
4
2
30 ENQUIRIES AND LET FOR £100 OVER THE ASKING PRICE. 1184
Baron Road, Penarth £2,500 PCM bedrooms
bathrooms
sq.ft
2
2
1346
Hensol Castle, Vale of Glamorgan £1,750 PCM
bedrooms
bathrooms
sq.ft
Westbourne Road, Penarth £1,700 PCM 4 bedrooms 2 bathrooms 1399 sq.ft The Esplanade, Penarth £1,100 PCM 2 bedrooms 2 bathrooms 688 sq.ft TO LET CONTACT JON FROM JEFFREYROSS ON: 02920 499680 TO LET CONTACT ACJ LETTINGS ON: 02920 415161

RENTAL VALUES HAVE INCREASED 13.3% IN THE LAST 5 YEARS.

AVERAGE HOUSE RENT ACHIEVED IN THE LAST 12 MONTHS

Friary Gardens, Cathays Park Source: Dataloft £824 PCM

CATHAYS STATS

BASED ON RENTAL FIGURES FOR THE LAST 12 MONTHS

Lettings Values

How much do houses let for?

How much do flats let for?

Rental values have changed by

Rental values have changed by last 5 years 13.3%

£824 £713 per month per month

* N/A 2.3% £15.53

*Average rent per sq.ft - What does this mean for you?

% tenants aged between 22 and 24

11.4% 34.2%

Book your FREE rental price assessment with our area specialist Jon and make sure your property is Fit For Human Habitation (FFHH):

Telephone: 02920 499680

Direct Dial: 02922 744487

Email: jon@jeffreyross.co.uk

Instagram: @jon_jeffreyross

33
Jon Hooper-Nash
Figures based on actual transactions in the last 12 months Visit www.jeffreyross.co.uk/we-know-cathays for up-to-date rental figures for Cathays.
*
Detached Semi-detached Terraced Flats By property type Average rent price last 12 months £850 £1,320 £728 £694 Rent price change last 12 months 18.3% 0.62%
% of market last 12 months 65.1% 11.6% 20.9% 6.91%
last 12 months Average rent per sq.ft last 12 months £15.46 £7.63 £19.69
% of households in the Private Rented Sector 65.0%
If you have a 650 sq.ft flat in Cathays, your average monthly rent would be: 650 (sq.ft of property) x £19.69 (average rent per sq.ft) ÷ 12 = £1,066 each month (subject to condition)

FEATURED RENTAL PROPERTY

JeffreyRoss were delighted to market this beautiful 5 bedroom, 2 bathroom house in Llantrisant Street, Cathays, located just a 15 minute walk from the main students union and university hospital.

The property briefly offered 5 large double bedrooms, a stylish open-plan lounge / kitchen and two recently renovated bathrooms. The property also featured top quality furniture throughout and was a great opportunity for students to live in a stylish property.

The rent was charged at £429 per person, per month and included all bills (gas, electricity, water and super fast WiFi). EPC Rating for the property was a D.

For more rental properties in the Cathays area, please contact our area specialist Jon on:

Telephone: 02920 499680

Email: jon@jeffreyross.co.uk

Instagram: @jon_jeffreyross

5 bedrooms 2 bathrooms 1315 sq.ft Jon Hooper-Nash
LLANTRISANT STREET, CATHAYS - £2,145 PCM

FEATURED RENTAL PROPERTIES

RENT INCREASE FOR 2023-2024:

FROM: £1,600 PCM TO: £2,400 PCM

RENT INCREASE FOR 2023-2024:

FROM: £1,925 PCM

£2,145 PCM

Malefant Street, Cathays £1,600 PCM 5 bedrooms
2 bathrooms 1184
sq.ft Alfred Street, Cathays £1,925 PCM 5 bedrooms
2
bathrooms
1181
sq.ft TO:

RENT INCREASE FOR 2023-2024:

FROM: £3,040 PCM TO: £3,294 PCM

RENT INCREASE FOR 2023-2024:

FROM: £2,700 PCM TO: £2,940 PCM

Blackweir Terrace, Cathays £3,040 PCM 8 bedrooms 3 bathrooms 1846 sq.ft Cathays Terrace, Cathays £2,700 PCM 2 bedrooms 2 bathrooms 700 sq.ft

NORTH CARDIFF STATS

Lettings Values

How much do houses let for?

How much do flats let for?

Rental values have changed by

Rental

£1,102 £811 per month per month

% tenants aged between 25 and 29

*

18.4% 23.0%

Book your FREE rental price assessment with our area specialist Rhys and make sure your property is Fit For Human Habitation (FFHH):

Telephone: 02920 499680

Direct Dial: 02922 744512

Email: rhys.carter@jeffreyross.co.uk

Instagram: @rhys_jeffreyross

38
Carter * Figures based on actual transactions in the last 12 months Visit www.jeffreyross.co.uk/we-know-cardiff for up-to-date rental figures for North Cardiff.
BASED ON RENTAL FIGURES FOR THE LAST 12 MONTHS Rhys
Detached Semi-detached Terraced Flats By property type Average rent price last 12 months £1,422 £1,160 £1,026 £807 Rent price change last 12 months 23.5% 12.8%
values
5 years
% of market last 12 months 4.9% 31.1% 20.2% 43.7% 17.5% 22.7%
last 12 months Average rent per sq.ft last 12 months £14.73 £14.63 £15.25 £15.97
have changed by last
29.2%
% of households in the Private Rented Sector 13.0%
*Average rent per sq.ft - What does this mean for you?
If you have a 650 sq.ft flat in North Cardiff, your average monthly rent would be: 650 (sq.ft of property) x £15.97 (average rent per sq.ft) ÷ 12 = £865 each month (subject to condition)

RENTAL VALUES HAVE INCREASED 29.2% IN THE LAST 5 YEARS.

AVERAGE HOUSE RENT ACHIEVED IN THE LAST 12 MONTHS

£1,102 PCM

Cefn Onn Park, Lisvane Source: Dataloft

FEATURED RENTAL PROPERTY

BRIDGE MEWS, WHITCHURCH - £1,450 PCM

JeffreyRoss were delighted to market this recently refurbished three bedroom, semi-detached property in the heart of Whitchurch village.

The property had been tastefully finished throughout and comprised of an entrance hall, cloakroom WC, bay fronted lounge, kitchen/diner, three good size bedrooms, two bathrooms, enclosed rear garden and a driveway with parking for up to two cars.

The property also featured double glazing throughout, gas central heating and came unfurnished.

EPC Rating: B Council Tax Band: E

For more rental properties in North Cardiff areas, please contact our area specialist Rhys on:

Telephone: 02920 499680

Email: rhys.carter@jeffreyross.co.uk

Instagram: @rhys_jeffreyross

Instagram: @jeffreyross_llanishen

3 bedrooms 2 bathrooms 1099 sq.ft Rhys Carter

FEATURED RENTAL PROPERTIES

68 ENQUIRIES, 8 OFFERS AND LET FOR £105 OVER ASKING PRICE.
Boyce
St Mellons £1,100 PCM 2 bedrooms 1 bathroom 635 sq.ft
£950 PCM 2 bedrooms 2 bathrooms 699
100+ ENQUIRIES AND LET FOR £100 OVER THE ASKING PRICE.
Way, Old
Tatham Road, Llanishen
sq.ft
50 ENQUIRIES, 7 OFFERS AND LET WITHIN THE FIRST WEEK OF BEING LIVE. Philog,
£950 PCM 2 bedrooms 1 bathroom 756 sq.ft Woodruff Way,
£925 PCM 2 bedrooms 1 bathroom 645 sq.ft 48 ENQUIRIES, 9 OFFERS AND LET FOR OVER ASKING PRICE.
Whitchurch
Thornhill

Hot desking available from £25 + VAT per day which includes free use of the facilities (Gym/lounge area) and unlimited tea & co ee.

www.desg.co.uk

TENANCIES AND LICENCES CHANGES

FREQUENTLY ASKED QUESTIONS FOR PRIVATE LANDLORDS

On 01/12/2022, the Renting Homes (Wales) Act 2016 ("the Act"), came into force. The Act can be difficult to understand and interpret, especially in relation to the form of a tenancy agreement, the duties of landlords and transition into the new occupation contracts.

Now is the time to become compliant with the Act or secure possession of your property, if you consider the new obligations imposed on you to be too onerous.

LG Williams and Prichard specialise in landlord and tenant matters, both contentious and noncontentious. To assist with becoming compliant, we can provide advice and guidance in relation to the Act and your duties.

We will also shortly be offering template and bespoke occupation contracts as well as written statements for converted contracts. Alternatively, if in addition to finding compliance onerous, you are concerned with the associated cost, we have considerable experience of possession proceedings and can help you secure an order.

To help you consider whether you wish to remain as a landlord, or secure possession of your property, below are six questions we are frequently asked (with answers).

PRIVATE LANDLORD FAQs

1. DO ASSURED SHORTHOLD TENANCY AGREEMENTS STILL EXIST?

In simple terms, no. Assured shorthold tenancy agreements can no longer be entered into (in Wales). If you wish to let your property, you must now enter into an occupation contract. If you had a tenancy agreement in place immediately prior to 01/12/2022, it converted to an occupation contract on 01/12/2022.

2. WHAT ARE THE DIFFERENCES BETWEEN AN ASSURED SHORTHOLD TENANCY AGREEMENT AND AN OCCUPATION CONTRACT?

For most, an occupation contract will not differ greatly from a standard assured shorthold tenancy agreement. The main terms that will remain are; the names of the parties and the property (“Key Matters”), details of possession and landlord obligations (“Fundamental Terms”), details of day to day matters (“Supplementary Terms”) and details of specific noncommon terms (“Additional Terms”).

3. DOES A CONVERTED CONTRACT REQUIRE A FRESH AGREEMENT WITH AN OCCUPANT (“CONTRACT HOLDER”)?

No, however, a landlord must provide a contract holder with a written statement of the converted contract no later than 31/05/2023.

4. HOW MUCH NOTICE MUST NOW BE PROVIDED TO A TENANT IN AN EVICTION NOTICE?

For new occupation contracts, a non-fault eviction notice cannot be issued within the first 6 months of the occupation.

Any notice issued cannot provide less than 6 months for the contract holder to remain i.e. with a non-fault eviction, a notice to terminate cannot take effect for at least 12 months.

If the contract was converted, a non-fault eviction notice can be issued at any time up until 31/05/2023, but cannot provide less than 2 months for the contract holder to remain.

In either case, if the contract holder does not leave upon expiration of the notice, it can be some weeks before possession is secured through the Court.

50

5. WHAT SANCTIONS ARE THERE FOR NOT COMPLYING WITH THE ACT?

There are various sanctions for a landlord, some are similar to those imposed by the Housing Act 1988. For example, if a landlord fails to provide a written statement to the contract holder, the landlord is liable to pay compensation (s.35 of the Act), which is similar to the Housing Act 1988 and, if a landlord fails to comply with their obligations for an authorised deposit scheme, they cannot issue a non-fault eviction notice.

6. IS MY PROPERTY FIT FOR HUMAN HABITATION (“FFHH”)?

This depends on the specific condition of your property, however, whilst the Act does not properly define what amounts to FFHH, we consider that a property would be, where a landlord has complied with all of their duties imposed by legislation and a reasonable person would consider the property to be in a good state of repair.

ANY QUESTIONS?

If you have any questions you would to ask, please contact our team on:

Telephone: 02920 229716

Email: mail@cardiff-law.co.uk

Website: www.cardiff-law.co.uk

51

ON AVERAGE WE SAVE CLIENTS 30+% ANNUALLY WITH RTM SWITCH.

WHAT IS RIGHT TO MANAGE (RTM)?

A GUIDE TO RIGHT TO MANAGE WITH SEEL & CO

Right to Manage (RTM) was introduced through the Commonhold and Leasehold Reform Act 2002, giving leaseholders the statutory right to take control over the management of their property from a landlord. If at least 50% of leaseholders in a block wish, they can exert this statutory right by setting up a special company - a Right to Manage company.

BENEFITS OF RIGHT TO MANAGE (RTM)

Seel & Co has helped thousands of leaseholders to acquire RTM and all have benefitted from:

Greater control - with RTM there is no landlord making decisions on the behalf of leaseholders about how a property is managed.

Reduction in Service Charge costs - because of this control, leaseholders are able to choose which contractors to use and what specifications of works and services should be.

For Seel & Co clients, this results in an average annual saving of 30+% (see table below).

WHAT’S THE PROCESS TO ACQUIRE RTM?

With the help from Seel & Co, RTM is a simple, stress free process. Each of the flats wishing to acquire RTM completes an application form from Seel & Co which simply asks for a name, address and signature. One or more flat owners will also need to agree to become Directors of the RTM company and further information will be required by those individuals.

Once the application form is completed, Seel & Co will start the following process:

1. Due Diligence - Seel & Co will ensure the application is valid and will highlight any perceived risks.

2. Create RTM Company - It is the RTM company that actually acquires the RTM on your behalf (not Seel & Co). Some leaseholders will need to be Directors.

3. Issue Invites & Notices - Invite non participating flat owners to join. Issue claim notice to landlord, advising of the intention of the leaseholders to acquire RTM.

4. Address Any Disputes - Address any counter claim notice by the landlord (typically, these are rarely upheld). Go to tribunal for judgement if needed.

5. Confirm Acquisition - Confirm date when RTM company will take control. Landlord terminates existing maintenance contracts.

WHAT HAPPENS AFTER RTM?

All leaseholders who participated in the RTM will be members of the RTM company: those who didn’t participate can become members at any point. The Directors will make decisions on behalf of all the leaseholders want to manage the block themselves or engage a managing agent. As a managing agent, Seel & Co has put control and transparency at the heart of its services and has created flexible packages based on how much involvement leaseholders wish to have.

Whether using a managing agent such as Seel & Co or not, the leaseholders will control how the block is managed and what works are undertaken, hence ensuring leaseholders start to see the savings in annual service charges.

For more information on RTM, please contact me on 02920 370 100 or email: karl.reid@seelandco.com

53
Average Savings per flat per year Insurance 32% Management Fees 32% Repairs & Maintenance 26% Cleaning 24% Grounds Maintenance 38% Miscellaneous 27%

BUY TO LET DEVELOPMENT

ST JAMES CHURCH, GLOSSOP ROAD, CARDIFF

ABOUT ST JAMES CHURCH

The most prestigious Cardiff Church residential development demands a specification to equal its importance, with no compromise on materials, detail or design to create an elegant quality finish.

St James Church offers an impressive and remarkable collection of generously proportioned, luxurious bedrooms for sleeping and dressing, creating a haven of peace for relaxing and unwinding at the end of a busy day.

Architecturally designed to create unique environments within this beautiful building, the combination of traditional features, contemporary glazing and exposed beams in the upper floors make this a special place to live.

St James Church is set in a vibrant location in the heart of Cardiff City Centre which makes the

development perfect for culture, business, education, dining, shopping and everything else Cardiff has to offer.

ARRANGE A VIEWING

Visit our magnificent collection of luxury apartments and townhouses to experience for yourself how location, design, material and expert craftmanship can combine for the ultimate lifestyle.

To arrange a viewing, contact our team or register your interest online:

Telephone: 02920 499680

Website: www.stjamescardiff.co.uk

St James

54
D IVINE RE-INVENTION REMAINING PLOTS Plot Type Beds Bath M2 Sq Ft Sales Price (£) Potential Rent per month (£) Potential Rent per annum (£) Yield % (exc. charges) 2 Duplex 2 2 144.16 1551.72 £475,000 £2,500 pcm £30,000 6.3% 4 Duplex 2 2 139.04 1496.61 £450,000 £2,400 pcm £28,800 6.4% 6 Townhouse 2 2 154.24 1660.22 £535,000 £2,500 pcm £30,000 5.6% 7 Duplex 3 2 99.43 1070.25 £399,950 £1,800 pcm £21,600 5.4% 9 Duplex 2 2 83.18 895.34 £289,950 £1,350 pcm £16,200 5.6% 10 Duplex 2 2 82.57 888.77 £279,950 £1,350 pcm £16,200 5.8% 11 Duplex 2 2 81.41 876.28 £275,000 £1,250 pcm £15,000 5.5% 12 Loft 2 2 84.27 907.07 £310,000 £1,600 pcm £19,200 6.2% 14 Loft 2 2 86.24 928.27 £325,000 £1,600 pcm £19,200 5.9%
St James Church, Glossop Road

CONTACT OUR EXPERIENCED SURVEYING TEAM TO ARRANGE A SURVEY FOR YOUR PROPERTY.

SEEL & CO SURVEYS

CHARTERED SURVEYORS TRUSTED BY RICS

Property is one of your most valuable assets, so it is essential that you understand what you’re buying and what it’s worth. Seel & Co can advise on and conduct a wide range of RICS-backed valuations and surveys to ensure you have the best information available about your property.

WHY DO YOU NEED AN RICS HOME SURVEY?

Because forewarned is forearmed. Choosing the right survey will help highlight any serious problems and advise you of the specific risks before you commit to the process of buying or selling a property.

RICS has three different levels of survey (Level 1, Level 2 and Level 3). These can only be conducted by RICS qualified surveyors.

• RICS Home Survey Level 1 - Choose this report if you're buying or selling a conventional house, flat or bungalow, built from common building materials and in reasonable condition.

• RICS Home Survey Level 2 (survey only)Choose this report if you need more extensive information whilst buying or selling a conventional house, flat or bungalow, built from common building materials and in reasonable condition.

• RICS Home Survey Level 2 (survey and valuation) - As the RICS Home Survey Level 2 above but also includes the surveyor's professional opinion of the market value, an insurance reinstatement figure and a list of problems that the surveyor considers that may affect the property value.

• RICS Home Survey Level 3 - Choose this report if dealing with a large, older or run-down property, a building that is unusual or altered, or if you're planning major works.

Reliable and cost effective, these reports carry the full weight of the Royal Institution of Chartered Surveyors - the industry’s most respected authority on surveying.

BUYING A HOME

It’s important to remember that your mortgage lender’s valuation report is not a survey. It merely tells your lender whether or not the property is reasonable security for your loan.

RICS surveys will tell you the actual condition of the property. That’s vital information that can be invaluable during price negotiations, and will also help you avoid expensive surprises after you’ve moved in.

SELLING YOUR HOME

RICS surveys can be an aid to selling your home. They will show you any problems that may delay your sale or cause price reductions later in the process.

STAYING AT HOME

A survey of the current condition of your home will warn you of defects and help you avoid escalating repair and maintenance costs in the future.

If you would like to arrange a survey for your property, please contact our experienced surveying team on:

Telephone: 02920 370 100

Email: surveys@seelandco.com

Website: www.seelandco.com

57
Tim Dallimore

JR CLIENT EXPERIENCE

KEY FEATURES TO HELP SELL, LET & MANAGE YOUR PROPERTY

JEFFREYROSS PROPERTYFILE

Transparency and customer service are the fundamentals that have made us successful to date. As we constantly strive to improve the customer and client experience, we have introduced several key services that give greater transparency on what we are doing for our Sellers, Landlords, Tenants and Buyers via their very own web log in known as PropertyFile.

This innovative software updates in real time and highlights online property performance, from viewings booked / feedback / offers made to even reporting maintenance, checking updates and downloading landlord statements. All of which can be accessed 24 hours a day, 7 days a week.

JEFFREYROSS PRIORITY

Registered applicants will receive property listings up to 48 hours before they go on to the open property market. Applicants need to pre-qualify on affordability before being granted access to our priority list, where they will be able to gain instant access to book viewing times for each available property (pre-determined by our clients).

JEFFREYROSS PROPERTY FINDER

We know how competitive the property market is right now particularly in key locations where you are often competing with multiple parties for each property.

This is why we now assist our clients with their search and utilise off market campaigns and target marketing techniques to get you access before anyone else.

RELOCATION ADVICE

Moving out of Cardiff with work and unsure of the new area you are moving to? We can give advice on the postcode territory values across the UK for the majority of property types.

UNRIVALLED MARKETING

We offer professional photography, virtual reality, accurate floorplans, online marketing via the key property portals (Rightmove, Zoopla, OnTheMarket) as standard.

We also promote our properties through our social media channels to target potential buyers and tenants before the property goes to market.

To discuss our unrivalled client experience further, please contact Elliott on:

Telephone: 02920 499 680

Direct Dial: 02922 744 470

Email: elliott@jeffreyross.co.uk

Instagram: @elliott_jeffreyross

JeffreyRoss www.jeffreyross.co.uk

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.