Last week after moving into our smart new Stamford office on Red Lion Street (please call in to see us and say hello), I thought I would nip out for a quick coffee at my favourite local coffee shop.
I met a senior partner of a local solicitors in there and we got talking about the Stamford property market. As a solicitor he had noticed a slight blip, but felt things appeared to be going back to normal.
He asked me how the Stamford property market had performed towards the end of last year, and if there were any great buy-to-let (BTL) deals around for one of his clients to consider.
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 - middle end of the market, meaning both first time buyers and BTL landlords have been returning in the last few months – proof the market is still buoyant.
So let’s look at the numbers...
In November 2016, according to the 3 main property portals Rightmove, Zoopla and OnTheMarket, there were a total of 124 properties for sale in Stamford (within 2 miles of the centre of Stamford). In November 2015, there were only 119 properties for sale, a rise of 4%.
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
|
% Change
|
|
5+ Bedrooms
|
12
|
18
|
+50%
|
|
4 Bedrooms
|
21
|
28
|
+33%
|
|
3 Bedrooms
|
49
|
48
|
-2%
|
|
2 Bedrooms
|
24
|
20
|
-17%
|
|
1 Bedroom
|
9
|
10
|
+11%
|
...and when I looked at type of properties, it got even more interesting:
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Type of Property
|
# Properties on the market in Nov 2015
|
# Properties on the market in Nov 2016
|
% Change
|
|
Detached
|
39
|
51
|
+31%
|
|
Semi
|
29
|
32
|
+10%
|
|
Terraced
|
24
|
18
|
-26%
|
|
Flat
|
9
|
6
|
-6%
|
As the number of Stamford properties for sale has risen by 4%, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is still confidence in the Stamford property market and there are also signs that people are being more realistic about pricing their property. (I have previously commented on the vital importance in pricing your property right from the beginning – see the archive section on my blog for more).
As you can see, there has been an uplift in semi-detached properties, which means they are a great 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!
Remember to look out for my weekly post of the '3 Best BTL deals in Rutland and Stamford' - irrespective of which local agent is selling the property. I also post the details on Twitter too... @UPPproperty
David Crooke
SALES & LETTING AGENTS
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