Many investment landlords tell me it is harder to find the right type of property to invest in these days. It seems there are fewer suitable properties on the market for sale.
I thought I would have a look at the Rightmove stats and see if there was any evidence to support this. I started by looking at what happened to the properties being marketed for sale in the LE13 area in 2015 vs 2016.
From the figures available it looks as though there has been a 15% decrease in the average numbers of properties being marketed for sale each month during 2016 when compared to 2015.
There has also been a decrease in the numbers of sold properties each month for the same area. These have decreased by around 36 % in 2016. The average number of properties sold sits just over 30 each month where it was nearly 50 per month in 2015.
The figures seem to suggest there were less properties coming onto the market in 2016 but also fewer properties actually selling. I wonder if it has something to do with the perception of the vendors that as there are fewer properties on the market they can achieve a higher price for their property?
In my opinion this does make it harder for investors to find the right property and for them to get a deal which will achieve the return they are hoping for. As the demand from tenants is only increasing in Melton Mowbray let’s hope 2017 has more property coming onto the market for sale.
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