Following on from my last article, if you recall I said that
Midanbury Lane had the most properties sold in the SO18 Southampton postcode,
yet I felt that this information wasn’t telling the whole story, as some roads
in Southampton have more properties on them than others. Therefore, I promised
that I would compare the average number of properties sold by the actual number
of properties on that street, to find out the streets whose owners
proportionally moved (or sold) more often than the rest of the locality.
To give some foundation to the article, in 2017 Southampton
homeowners had, on average, lived at their existing address for 17 years and 6
months. However, when I looked at the difference between homeowners with and
without a mortgage; Southampton homeowners without a mortgage had lived in
their Southampton home for an average of 23 years and 9 months compared with 10
years and 1 month for homeowners with a mortgage. Interestingly, Southampton’s Council
own tenants have on average resided at their present homes for 11 years and 4
months, whilst finally for those who rent from a private landlord, tenants
generally have lived in their property for an average of 3 years and 11 months
(up from 3 years 5 months only five years ago).
The SO18 street in the top 25 saleable streets with the
highest number of households on it is Bitterne Road West, which has 358
residential addresses. Yet since 1995, only 231 properties have changed hands
(some multiple times!) .. which means
the street’s saleability or churn rate is 64.5%.
However, the street or road that has the highest saleability
or churn rate is Torridge Gardens … which has 72 households on it, yet since
1995 there have been 179 house sales … a saleability rate of 248.6%. Here is
the full breakdown of the top 25 streets …
So, as you can see, some interesting statistics and a lot
more correlation between saleability rate and property values (unlike the
article last time where we compared value to ‘out and out’ raw sales figures).
Therefore, what does all this mean to Southampton homeowners
and Southampton landlords? Well these 25
streets are the best performing streets out of the 338 streets in the SO18 area so if you live/own a property on those 25 streets …
you are sitting on a very saleable street. If you want to find out how saleable
your street is .. please drop me a line and we can discuss this further.
If you are looking for an agent that is well established, professional andcommunicative, then contact us to find out how we can get the best out of your investment property.
Email me on brian.linehan@belvoir.co.uk 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
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