A few months ago, I wrote an article on the Southampton
Property Blog about the length of time it took to sell a property in Southampton
and the saleability of the different price bands (i.e. whether the lower/middle or upper local property markets were
moving slower or quicker than the others). For reference, a few months ago
it was taking on average 41 days from the property coming on the market for it
to be sold subject to contract (and that was based on every Estate Agent in Southampton)
… and today … 74 days .. does that
surprise you with what is happening in the UK economy?
Well, a number of Southampton landlords and homeowners, who
are looking to sell in the coming months, contacted me following that article
to enquire what difference the type of property (i.e.
Detached/Semi/Terraced/Apartment) made to saleability and also the saleability
of property by the number of bedrooms) As I have said before, whether you are a
Southampton landlord looking to liquidate your buy to let investment or a
homeowner looking to sell your home; finding a buyer and selling your property
can take an annoyingly long time… but anything you can do to mitigate that is
helpful to everyone.
So, I did some research on the whole of the Southampton
property market .. and these were my findings …
to start with by type (i.e. Detached/Semi/Terraced/Apartment)….
As you can see, the star players are the terraced/town house
and semi-detached variants of Southampton property, whilst apartments seem to
be sticking in Southampton.
Next I looked at what the number of bedrooms does to the saleability
of Southampton property..
… and as you can see the one bed properties seem to be taking the
longest time to sell ..and to answer the question in the title .. it’s four bed
properties!
So, what does this mean for Southampton buy-to-let
landlords and homeowners?
There is no doubt that there is a profusion of properties on the market in Southampton compared to 18
months ago … it’s not because more houses are coming on to the market, it’s
because they are also taking a little longer to sell. This
makes it slightly more a buyer’s market than the seller’s market we had back in
2014/5/6. Therefore, in some sectors of the Southampton property market, it is
much tougher to sell, especially if you want to sell your Southampton home fast.
Therefore, to conclude, on the run up to the New Year, if
you are looking to buy and plan to stay in the buy to let market a long time, perhaps
take a look at the Southampton properties that are sticking as there could be
some bargains to be had there? Want to know where they are .. drop me a line
and I will tell you a nifty little trick to find all the properties that are
sticking.
If you are thinking of selling your Southampton home or if you are a Southampton landlord, hoping to sell your buy to let property (with tenants in), either way, if you want a chat to ensure you get a decent price with minimal fuss ... drop me a message or pick up the phone.
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.
Twitter, https://twitter.com/sotonbelvoir
LinkedIn, https://www.linkedin.com/in/brianlinehan
LinkedIn, https://www.linkedin.com/in/brianlinehan
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