A few months ago it was taking on average 45 days from a property coming on the market for it to be sold subject to contract (and that was based on every Estate Agent in Northwich and surrounding villages) … and today … 89 days .. does that surprise you with what is happening in the UK economy?
Several Northwich landlords and homeowners, who are looking to sell in the coming months, have been contacting me recently to enquire what difference the type of property (i.e. Detached/Semi/Terraced/Apartment) makes to saleability and the saleability of property by the number of bedrooms. So, whether you are a Northwich 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 Northwich and surrounding villages 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 variants of Northwich and surrounding villages property, whilst apartments seem to be sticking.
Next I looked at what the number of bedrooms does to the saleability of property in Northwich and surrounding villages….
… 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 three bed properties!
So, what does this mean for buy-to-let landlords and homeowners in Northwich and surrounding villages?
There is no doubt that there is a profusion of properties on the market in the Northwich area 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 Northwich area property market, it is much tougher to sell, especially if you want to sell your Northwich area 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 properties in Northwich and the surrounding villages 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.
Ian Storey – Property Expert
Agent and Managing Director of Storey Estates