Moving home is said to be the third most stressful life
event - following a member of your family dying 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 Loughborough, or nearby conurbations, where
you currently live and/or are selling your house, and where you want to search
for your next Loughborough home. Being mindful of how fast - or slow - the
different aspects of the Loughborough 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 Loughborough
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 – it
is always frustrating 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 then you can probably get a better deal on the one you are
buying.
For buy to let landlords in Loughborough, this evidence is
particularly critical as purchasing a high-demand property in a well-liked area
of Loughborough will safeguard a surfeit of availability of tenants, as well as
respectable house price growth.
Being an agent in Loughborough, I like to keep an eye on the
Loughborough property market on a daily basis because it enables me to give the
best advice and opinion on what, or not, to buy in Loughborough; be that a buy
to let property for a landlord or an owner occupier house. So, I thought, how could I scientifically
split the Loughborough housing market into sections, so that I could analyse
which part of the Loughborough property market was doing the best or the worst.
I took the decision that the preeminent way was to fragment the
Loughborough 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 Loughborough available for sale; then add up all the sold (stc)
properties and see which sector of the Loughborough property market was
performing best. These were the results:
# Properties For Sale
|
# Properties Sold (stc)
|
|
up to £125,000
|
59
|
25
|
£125,000 to £180,000
|
62
|
72
|
£180,000 to £260,000
|
71
|
59
|
£260,000 upwards
|
65
|
27
|
The best performing price range in Loughborough is the lower
to middle market - £125,000 to £180,000 - where 53.7% of all property in that price
range has a buyer and is sold subject to contract.
If you would like to pick my brains on the Loughborough
Property Market – pop in for a coffee or drop me a line on social media or
email.
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