Southampton Property Market Sees An Unpredicted Autumn Boost of 10%

Well, it doesn’t seem like two minutes ago that it was Christmas – and now it’s all over! One cold December morning, after arranging the office’s Christmas cards I thought I would nip out for a quick festive coffee and over-priced mince pie at my favourite local coffee shop Mettricks.  I met an old client of mine in the coffee shop and we got talking about the Southampton property market. I had just completed my research for my next blog article and I would like to share with you the parts of the conversation relating to the Southampton property market.

He asked me what my thoughts were about the last half of the year in regard to the Southampton property market and if there were any great buy to let deals around. In reply I said that, in my view, shrugging off the uncertainty of the initial post Brexit vote, I have seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy to let landlords have been returning in the last few months – proof the market is beginning to bounce back.

So let’s look at the numbers ..

In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 1,351 properties for sale in Southampton (within 4 miles of the centre of Southampton to be exact). In November 2015, there were only 1,229 properties for sale, a rise of 10%.

When I split it down into bedrooms (note things like building plots and part commercial/part residential etc won’t be in these figures so the numbers below wont exactly match up to those in the above paragraph).

	# Properties on the market in Nov 2015	# Properties on the market in Nov 2016	Per cent Change
5+ Bedrooms	91	78	-14%
4 Bedrooms	133	138	+4%
3 Bedrooms	338	458	+36%
2 Bedrooms	400	443	+11%
1 Bedroom	251	216	-14%

.. and when I looked at type of properties  .. it got even more interesting

Type of Property	# Properties on the market in Nov 2015	# Properties on the market in Nov 2016	Per cent Change
Detached	278	303	+9%
Semi	204	256	+25%
Terraced	74	124	+68%
Flat	581	584	+1%

As the number of Southampton properties put up for sale has risen by 10%, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is renewed confidence in the Southampton property market and there are also signs that people are being more realistic about pricing their property.

As you can see, there has been a significant uplift in terraced and semi-detached properties, which means there is greater choice for first time buyers and landlords. So with a combination of realistic pricing and more properties on the market – both first time buyers and landlords alike might be able to pick up a few bargains!  One place for great Southampton Buy to let deals is my blog where, irrespective of which agent is selling the property, I publish what I consider is the very best buy to let deal in Southampton.

If you are a landlord or thinking of becoming one for the first time and you want to read more articles like this about the Southampton Property Market, together with regular postings on what I consider the best buy to let deals in Southampton (out of the many of properties on the market, irrespective of which agent is selling it) then feel free to get in touch.

If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.

Email me on brian.linehan@belvoirlettings.com or call on 023 8001 8222.

Don't forget to visit the links below to view back dated deals and Southampton Property News.

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