Moving home is said to be the third
most stressful life event, following a member of your family dying or getting
divorced. So it is always best to keep your stress levels
down by investigating and doing your homework on both the particular area of Stoke
on Trent (or nearby conurbations) where you live (i.e. where you are selling)
and where you want to search for your next Stoke on Trent home. Being mindful
of how fast (or slow) the different aspects of the Stoke on Trent property
market is moving is key.. because it could save you much heartache and many
thousands of pounds.
You see, if you know you are selling a property in a sluggish
price range and buying in a faster moving price range in Stoke on Trent then
putting your property on the market first is vital, otherwise you will always
find the one you want to buy tends to sell before your property sells - there is nothing worse than pondering over a
property only to find that someone else has bought it. Being primed with all
the knowledge is key. On the other side of the coin,
if you are selling in a fast moving market and buying in a sluggish market ..
you can probably get a better deal on the one you are buying.
For buy to let landlords
in Stoke on Trent, this evidence is particularly critical as purchasing a
high-demand property in a well-liked area of Stoke on Trent will safeguard a
surfeit of availability of tenants, as well as respectable house price
growth.
Being an agent in Stoke on Trent, I
like to keep an eye on the Stoke on Trent property market on a daily basis
because it enables me to give the best advice and opinion on what (or not) to
buy in Stoke on Trent; be that a buy to let property for a landlord or an owner
occupier house. So, I thought, how could
I scientifically split the Stoke on Trent housing market into sections, so I
could analyse which part of the Stoke on Trent property market was doing the
best (or the worst).
I took the decision that the preeminent way was
to fragment the Stoke on Trent property market into roughly four uniform size price
bands (in terms of properties for sale). Each price band would have roughly around
25% of the property in Stoke on Trent available for sale .. then add up all the
sold (stc) properties and see which sector of the Stoke on Trent property
market was performing best? … And these were the results ..
|
|
# Properties For Sale
|
# Properties Sold (stc)
|
|
up to £90,000
|
346
|
301
|
|
£90,000 to £140,000
|
351
|
394
|
|
£140,000 to £210,000
|
388
|
328
|
|
£210,000 upwards
|
390
|
164
|
The best performing price range
in Stoke on Trent is the lower to middle market £90,000 to £140,000 where 52.9%
of all property in that price range has a buyer and is sold stc.
It’s not unexpected that the
upper end of the property market (the top 25%) in Stoke on Trent is finding
things a little tougher compared to the others. Remarkably for Stoke on Trent
landlords, the lower market is doing reasonably well, but it’s not the best, so
maybe there could be some property deals out there for buy to let investment?
Even though the number of first time buyers in 2018 did increase over the 2017
levels, it was from a low starting point and the large majority of 20 to 30yo’s
don’t want to or can’t buy their first home and the local authority has no
money to build Council houses meaning an increase in demand as private
landlords take up the slack – because everyone needs a roof over their head!
If you would like to pick my brains on the Stoke
on Trent Property Market – pop in for a coffee or drop me a line on social
media or email.
