Time now for a quick round-up of what
has been happening in the sales & lettings market in the Warrington area
throughout the last 3 months to date. (figures obtained from Rightmove and do
not include private lets):
You can see from the rental figures above,
that it is 1, 2 and 3 beds that are most in demand, with 2 beds being the
most popular, now if we look back at the last quarterly update it was the 3 bedrooms
that were the most popular so there is a slight change in demand in a short
space of time, I find that 2 and 3 bedroom houses for rentals are always the
ones in high demand in Warrington. 3 bedrooms usually attract most interest +
least void periods.
If you look at sales, it seems 1, 2, 3
& 4 beds are what people want to buy, this time it is 3 beds that win the
race just like the previous quarter.
So, as an investment, what should you buy?
Well demand is there to rent anything up to 3
bedrooms, but there are already a high number of potential private purchasers
chasing those same properties, so this will inevitably increase pressure on
availability and start to drive prices up, whereas 2 beds are in a lot less
demand by purchasers, yet these are often prized by renters. Our experience
here tells us that 2 beds will always find a rental market, they will always
rent out quickly but there will be more churn (turnover of tenants), and these
will command a slightly higher yield than 3 beds.
However, for families wishing to rent, 3 beds are a
must, and in the catchment area of great schools (particularly secondary) they
will always be in high demand and with less churn, and it is these properties
that tend to offer better scope for capital growth in the long term whilst
providing a steady yield of around 6-7.5% yield today.
If you are thinking of getting into the property
rental market and don't know where to start, speak to us for impartial advice
and guidance to get the best return on your investment. For more information
about other potential investment properties that we could introduce you to, or
to ask about our thoughts on your own investment choices, call us now on 01925
235 335 or pop along and speak to us in person at our office at 6
Bankside, Crosfield Street, you can always email me on manoj@hamletwarrington.co.uk
Dont forget to visit the links below to view back dated deals and Warrington Property News.
Twitter,https://twitter.com/HHWarrington
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