Is Stretton the place to buy a property?

Information is so important when making decisions on what (or not) to buy when investing in Burton property. The demand for rental properties is much greater that the supply and some circumstances, we have four to five prospective tenants for each decent property. As always the demand is much greater for properties that are good areas. Also, we are noticing that tenants are staying longer in their chosen property with some tenants signing for the third and fourth years. This is obviously causing problems from the supply side so we are relying on new investment Landlords to bring in some new properties.

Today, I want to look at the Stretton to the Northern edge of Burton. By knowing the different areas of Burton, I can weigh up potential hotspots in the rental market and show potential landlords where there could be an opportunity. The majority of properties sold in Stretton during the last 12 months were detached properties which on average sold for £222,000. Semi-detached properties had an average sold price of £137,900 and terraced properties averaged at £114,700.

The overall average property in Stretton is worth £168,500, which as one would expect is higher than Burton overall average at £144,500 and Stapenhill £144,600, but was cheaper than next door Rolleston-On-Dove at £220,300.

In Stretton, there are 7,849 people living in 3,285 properties. It is the home ownership percentages that really got me interested, as it is this information, tied in with our intimate knowledge of the market, where we can match tenant demand to an under supply of rental properties. In Stretton, of those 3,285 households, 87.6% own their property, compared to the Burton average of 69.6%.

There are only 245 rented properties in Stretton are in the private rented sector (7.5% of Stretton properties are privately rented compared with the Burton average of 13.8%). The reason the private rental sector is much lower is that Stretton has a high proportion of homeowners and hardly any local authority housing. The properties do sell well, in fact 782 properties have changed hands since 2007. However, with such excellent demand from homeowners and tenants, this could be the right area to purchase your next buy to let investment. Stretton might not have the stellar yields of the terraced houses between the A38 bypass and Derby Street/ Derby Road but they are in the very respectable 4% to 5% range.

However, where Stretton comes into its own is in its growth in property values. Stretton property values are 112.6% higher than the year 2002 - not too shabby when you consider that the overall Burton average is 77.8% higher over the same time frame!

Therefore, if you are considering buying a property for investment in the near future, as I don't sell property, I am always happy to give you my considered opinion on which property to buy (or not as the case may be) to give you what you want from your investment. If you are a landlord, new or old, I am certainly more than happy for you to pick up the phone, pop into our High Street branch (with new window displays I might add!)