One cold and frosty morning in early January I had just popped out of the office when I bumped into an old client of mine. He asked me what my thoughts were about the last half of the year in regard to the Pill property market and if there were any great buy to let deals around. 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 255 properties for sale in BS20. In November 2015, there were only 185 properties for sale, a rise of 38%.
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 won’t 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 |
12 |
15 |
+25% |
4 Bedrooms |
52 |
62 |
+19% |
3 Bedrooms |
43 |
56 |
+30% |
2 Bedrooms |
57 |
78 |
+37% |
1 Bedroom |
21 |
41 |
+95% |
.. and when I looked at type of properties .. it became even more interesting
Type of Property |
# Properties on the market in Nov 2015 |
# Properties on the market in Nov 2016 |
Per cent Change |
Detached |
69 |
89 |
+29% |
Semi |
21 |
37 |
+76% |
Terraced |
8 |
26 |
+225% |
Flat |
71 |
90 |
+27% |
As the number of BS20 properties put up for sale has soared by 38%, 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 Pill property market and there are also signs that people are being more realistic about pricing their property.
As you can see, there has been a significant 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!