85.9% of Tamworth Properties have 3 or more bedrooms – Problem or Opportunity?

The orthodox way of classifying property in the UK is to look at the number of bedrooms rather than its size in square metres (although now we are leaving the EU – I wonder if we can go back to feet and inches?). It seems that homeowners and tenants are happy to pay for more space. It’s quite obvious, the more bedrooms a house or apartment has, the bigger it is likely to be. The reason being not only the actual additional bedroom space, but the properties with more bedrooms tend to have larger / more reception (living) rooms. However, if you think about it, this isn’t so astonishing given that properties with more bedrooms would typically accommodate more people and therefore require larger reception rooms.

 

In today’s Tamworth property market, the Tamworth homeowners and Tamworth landlords I talk to are always asking me which attributes and features are likely to make their property comparatively more attractive and which ones may detract from the price. Over time, buyers’ and tenants’ wants and needs have changed. In Tamworth, location is still the No. 1 factor affecting the value of property, and a property in the best neighbourhoods, say Mile Oak or Dosthill can command a price nearly 50% higher than a similar house in an ‘average’ area. However, after location, the next characteristic that has a significant influence on the desirability, and thus price, of property is the number of bedrooms and the type (i.e. Detached/ Semi/Terraced/Flat).

In previous articles, I have analysed the Tamworth housing stock into bedrooms and type of property, but never before now have I cross-referenced type against bedrooms. These figures for the Tamworth Borough Council area make fascinating reading. It shows 85.9% of all properties in the area have 3 or more bedrooms.


 
Detached
Semi-detached
Terraced (including end-terrace)
Flat
1 bedroom
3
29
27
130
2 bedrooms
70
885
789
550
3 bedrooms
1,480
4,881
3,636
165
4 bedrooms
2,600
1,060
473
12
5 or more bedrooms
516
223
75
8
 
I was genuinely surprised at the low numbers of one and two bed properties, especially 2 bed semi detached houses, especially as tenants like the smaller one and two bed properties in Tamworth. You see, it might interest the homeowners and landlords of Tamworth, that there has been a change in the numbers of properties on the market and the split in bedrooms on the market over the last 12 months
 
·         12 months ago, 23 one bed properties were for sale in Tamworth, today 16, a drop of 30%
·         12 months ago, 79 two bed properties were for sale in Tamworth, today 73, a drop of 8%
·         12 months ago, 127 three bed properties were for sale in Tamworth, today 160, a rise of 26%
·         12 months ago, 54 four bed properties were for sale in Tamworth, today 75, a rise of 39%
·         12 months ago, 30 five + bed properties were for sale in Tamworth, today 20, a drop of 33%
 
For several years Tamworth buy-to-let investors have been the only buyers at the lower end (starter homes) of the market, as they have been enticed by high tenant demand and attractive returns. Some Tamworth landlords believe their window of opportunity has started to close with the new tax regime for landlords, whilst it already appears to be opening wider for first-time buyers. 
 
This is great news for first time buyers … but one final note for Tamworth landlords … all is not lost … you can still pick up bargains, you just need to be a lot more savvy and do your homework … one source of such information with articles like this is the Tamworth property market Blog

If you are a landlord or thinking of becoming one for the first time, and you want to read more articles like this about the Tamworth Property Market together with regular postings on what I consider the best buy to let deals in Tamworth, out of the many of properties on the market, irrespective of which agent is selling it, then feel free to get in touch!  email me olorraine@hallandthompson.co.uk
 

Don’t forget to visit the links below to view back dated deals and Tamworth Property News. 


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