Tamworth Property Market Sees An Unpredicted Autumn Boost of 11%

Well, it doesn’t seem like two minutes ago that it was Christmas – and now it’s all over! One cold  morning, I was at a local Business leaders Networking event. I got chatting with a Senior Partner of a local Solicitors practice and we got talking about the Tamworth property market. I had just completed my research for my next blog article and I would like to share with you the parts of the conversation relating to the Tamworth property market.

He asked me what my thoughts were about the last half of the year in regard to the Tamworth property market and if there were any great buy to let deals around. As a Solicitor he had noticed a blip, but things appeared back to normal .. but he wanted my thoughts. In reply I said that, in my view, shrugging off the uncertainty of the initial post Brexit vote, I have seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy to let landlords have been returning in the last few months – proof the market is beginning to bounce back.

So let’s look at the numbers ..

 In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 227 properties for sale in B77. In November 2015, there were only 205 properties for sale, a rise of 11%.

 When I split it down into bedrooms (note things like building plots and part commercial/part residential etc won’t be in these figures so the numbers below wont exactly match up to those in the above paragraph).

 
# Properties on the market in Nov 2015
# Properties on the market in Nov 2016
Per cent Change
5+ Bedrooms
13
10
-23%
4 Bedrooms
35
61
+74%
3 Bedrooms
78
96
+23%
2 Bedrooms
60
48
-20%
1 Bedroom
18
12
-33%

 .. and when I looked at type of properties  .. it got even more interesting

Type of Property
# Properties on the market in Nov 2015
# Properties on the market in Nov 2016
Per cent Change
Detached
70
93
+33%
Semi
58
69
+19%
Terraced
38
40
+5%
Flat
23
23
0%


As the number of B77 properties put up for sale has risen by 11%, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is renewed confidence in the Tamworth property market and there are also signs that people are being more realistic about pricing their property.

As you can see, there has been an uplift in terraced and semi-detached properties, which means there is greater choice for first time buyers and landlords. So with a combination of realistic pricing and more properties on the market – both first time buyers and landlords alike might be able to pick up a few bargains!  One place for great Tamworth Buy to let deals is my blog where, irrespective of which agent is selling the property, I publish what I consider is the very best buy to let deal in Tamworth http://tamworthpropertyblog-co-uk.php5.hostingweb.co.uk/


If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment. For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01827 425195, you can always email me on Lorraine@hallandthompson.co.uk

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