Which Stamford homes are actually selling?

I keep an eye on the local property market on a daily basis because it enables me to give the best advice and opinion on what (or not) to buy in the area, be that a buy-to-let property for a landlord or an owner occupier house. 

So, I wondered if it was possible to split the Stamford housing market into segments to identify which part of the market was performing the best and the worst.


I decided the best way to do this was to split the Stamford property market into 4 equal size price bands (into terms of households for sale).  Each price band would have around 25% of the property in Stamford, from the lowest in value (the ‘Lowest Quartile’ or 25%) all the way through to the highest 25% in terms of value, the ‘Upper Quartile’.  Looking at the market, I have calculated that these are the Stamford price bands;

      ·         Lowest Quartile (lowest 25% in terms of value) Up to £210,000

·         Lower/Middle Quartile (25% to 50% Quartile in terms of value) £210,000 to £270,000

·         Middle/Upper Quartile (50% to 75% Quartile in terms of value) £270,000 to £375,000

·         Upper Quartile (highest 25% in terms of value) £375,000 upwards

So, having split the Stamford property market approximately into 4 equal sizes, the results in terms what price band has sold (subject to contract or stc) the most is quite enlightening.

The results are close, but the best performing price range in Stamford at the moment is the upper-end (bucking the national trend) with 53.5% of the properties on the market sold.   The quartile below that is finding things toughest. 

Interestingly for Stamford landlords, the lower market is also selling well, meaning there are plenty of landlords buying properties to add to their buy to property portfolios. 

Even though the number of first time buyers did increase in 2017, it was from a low base and the vast majority of 20 something’s cannot buy, hence the need to rent.

 

It is a fact that British (and our local) housing markets have ridden the storms of the oil crisis in the 1970’s, the 1980’s depression, Black Monday in the 1990’s, and latterly the Credit Crunch together with the various house price crashes of 1973, 1987 and 2008.  No matter what happens to us, Brexit or anything else, unless the government starts to build hundreds of thousands extra houses each year, demand will always outstrip supply.  So, maybe this is an opportune time for Stamford landlord investors to bag a bargain?

To find out where those Stamford buy-to-let bargains are, follow my Stamford Property Blog and Facebook (@stamfordandrutland) or drop me an email because irrespective of which agent you use, many local homeowners and landlords ask me my thoughts, opinion and advice on what (and not) to buy locally.

David Crooke
MD & Owner
 
e: david@upp-property.co.uk /   t: 01780 484 554