As the first month of 2019 draws to a close and with the property market a topic of much discussion across the media at the moment, I wanted to take this opportunity to review the first month of the year within our beloved SK4.
If media is to be believed, the property market is all doom and gloom with a very bleak outlook predicted. However, the reality over the last month has been somewhat different according to the latest Rightmove statistics.
In January 2018, 79 properties were brought to the rental market across SK4 of which 44 were ‘Let Agreed’. Leaving 45% of the market left wanting.
If we compare this to January 2019, far fewer properties were brought to the market – 69 in total. However of these, 52 were ‘Let Agreed’. A staggering 75% snapped up!
With many landlords quitting the buy-to-let market last year, supply has been reduced in the area at a time when demand is on the up. With Brexit looming and first time buyers potentially biding their time before they make a purchase, the demand for good quality rental stock is as high as ever.
This, in turn, is raising the rental prices in the area making it a great market for landlords and investors. Although property prices are not cheap, there are still bargains to be had and I list many of them on the ‘Investment Deals’ section of this blog. Solid yields are important but so is having continuity and a good quality tenant – something the Heatons thrives on with it being such a family orientated area.
The government is being tough on landlords and investors however the market is pushing back and the Heatons is certainly and area where rentals are flourishing.
If you have a rental property/portfolio, or are thinking about joining the army of landlords successfully renting in SK4, please do give me a call for any help or advice.