Moving home is said to be the third most stressful life event, behind a bereavement or getting divorced. So it is always best to keep your stress levels down by investigating and doing your homework on both the particular area of Newbury where you live (i.e. where you are selling) and where you want to search for your next Newbury home. Being mindful of how fast (or slow) the different aspects of the our property market is moving is key.. because it could save you much heartache and many thousands of pounds.
You see, if you know you are selling a property in a sluggish price range and buying in a faster moving price range in Newbury then putting your property on the market first is vital, otherwise you will always find the one you want to buy tends to sell before your property sells – there is nothing worse than pondering over a property only to find that someone else has bought it. Being primed with all the knowledge is key. On the other side of the coin, if you are selling in a fast moving market and buying in a sluggish market, you can probably get a better deal on the one you are buying.
For buy to let landlords in Newbury, this evidence is particularly critical as purchasing a high-demand property in a well-liked area of Newbury will safeguard a good availability of tenants, as well as respectable house price growth.
Being an agent in Newbury, I like to keep an eye on the Newbury property market on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in Newbury; be that a buy to let property for a landlord or an owner occupier house. So, I thought, how could I split the Newbury housing market into sections to analyse which part of the Newbury property market was doing the best (or the worst).
I took the decision that the best way was to fragment the Newbury property market into roughly four uniform size price bands (in terms of properties for sale). Each price band would have roughly around 25% of the property in Newbury available for sale .. then add up all the sold (stc) properties and see which sector of the Newbury property market was performing best? … And these were the results ..
The best performing price range in Newbury is the upper market £400,000 upwards where 37.4% of all property in that price range has a buyer and is sold stc.
The middle to upper end (£300,000 to £400,000) of the property market in Newbury is finding things a little tougher compared to the others.
Even though the number of first time buyers in 2018 did increase over the 2017 levels, it was from a low starting point, perhaps we will see a bigger increase in demand by end of this year because everyone needs a roof over their head!
If you would like to pick my brains on the Newbury Property Market – pop in for a coffee or drop me a line on social media or email.
