What type of property in Burton sells the best?

Knowing how saleable a property is half the battle when deciding what (or not) to buy for your next property investment. Why? Well because one day, you may need to sell that property. If you go into the purchase with open eyes, you know most of the risks and can barter the price accordingly if you have to.

Bearing this in mind, last week, a couple from Repton popped into our offices to ask about investing in property. Their concern was if we have another property slump (and we will because that is what has happened to the British property market ever since the 1950’s), if they did need to sell, what type of property would be easier to sell?

Now everything sells, even during a slump, but I did some research and followed up their query – I was actually quite surprised with the results. A good guide to the saleability of property is the number of properties for sale, compared to the number that are sold, subject to contract. Now I carried this comparison out a last week, so the numbers will be marginally different today, but in Burton, there are 853 properties on the market for sale. Of those, 577 are fully available on the open market waiting for a buyer and 315 have buyers and are sold subject to contract. That means 36.9% of property on the market has a buyer in Burton.

However, delve deeper, and in Burton today, 33% of terraced houses on the market have a buyer and, great news for semi owners, as 40% of them have buyers too. Bungalows are doing nearly as well, with 28 of the 72 on the market having buyers (making a 39%). The properties that appear to be sticking though are the detached houses – only 81 of 264 on the  market have buyers, a very low 31%. Leaving the best to the end though, its apartments that surprise me, with 35 of the 83 on the market (42%) having a buyer (interestingly in Derby only 30% of the apartments have buyers!).

I am always giving advice to my existing and new landlords in Burton on what to buy (or not as the case may be). Having this detail of information at my fingertips, allows me to spot trends in the local market, that enables to me to give the very best advice and opinion to my clients. I don't charge for that advice as I have plenty of opportunity to earn money by finding the best tenants for my landlords in the years to come on the investment that I have advised on.

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