The balancing
act of being a Warrington Buy To Let landlord is something many do well at.
Talking to numerous Warrington landlords, they are very aware of their tenants’
capability to pay the rent and their own need to raise rents on their rental
properties. Despite the ‘perceived ‘dark
clouds of Brexit, evidence suggests many landlords feel more confident than
they were in the Summer and Autumn of 2018 about aiming to push rents higher on
their Warrington Buy To Let properties.
Looking at
the data for the last 7 years, this shows that throughout the Summer months, the
rents new tenants have had to pay on move in have increased at a higher rate
than during the colder months of Winter. This is because the Summer months are normally
a time when renters like to move, meaning demand increases for rental
properties yet supply remains pretty ridged.
Yet the
Winter stats buck that trend and this is great news.
Rents in Warrington on average for new tenants moving in
have risen 0.7% for the month, taking overall annual Warrington rents 2.9%
higher for the year
However,
several Warrington landlords have expressed their apprehension about a slowing
of the housing market in Warrington and I believe, based on this new evidence,
they may be overstated. Before we
get the bubbly out though, the other part of investing in property is what is
happening to capital values (which will
also be of interest to all the homeowners
in Warrington as well as the Warrington Buy To let landlords). I
believe the Warrington property market has been trying to find some form of
balance since the New Year. According to the Land Registry….
Property Values in Warrington are 4.2% higher than they
were 12 months ago
Yet, these
figures reflect the sales of Warrington properties that took place in the late
Autumn of 2018 and now are only exchanging and completing during the Winter / early
Spring months of this year.
The
reality is the number of properties that are on the market in Warrington today has
risen by 2% since the Autumn
and that will
have a dampening effect on the property market. As tenants have had less choice, buyers now have
more choice .. and that will temper Warrington property prices as we head into
the middle of 2019.
Be you a Warrington
landlord or Warrington homeowner, if you are preparing to sell your Warrington
property in 2019, it’s important, especially with the rise in the number of properties
on the market, that you are pricing your property realistically
when you bring it to the market. With the likes of Rightmove, Zoopla and
OnTheMarket on everybody’s mobile phones and laptops, buyers have access to every property on the
market and they will compare and contrast your home with other properties like
yours – and will more than likely dismiss your property rather than view it.
To all the Warrington homeowners that aren’t planning
to sell though – this talk of price changes is only on paper profit or loss. To those that are moving .. most people that
sell, are buyers as well, so as you might not get as much for yours, the one
you will want to buy won’t be as much. Look at the deal as a whole, the difference
between what you sell yours for and what you buy at. Finally, all the Warrington landlords –
keep your eye’s peeled – I have a feeling there may be some decent Warrington buy
to let deals to be had in the coming months.
Email me on manoj@hamletwarrington.co.uk or call on 01925 235 338 – we are based on the Warrington Business Park, Long Lane, WA2 8TX. There is plenty of free parking and the kettle is always on.
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