I was talking to a landlord that came into my office this week and he asked me for my opinion on what to particularly look out for when purchasing a buy-to-let property, especially if he decided later he needed to release funds in his investment. One piece of advice I was able to offer was that a good investment property should always be able sell easily and quickly when you need it to. So, if you are a landlord considering buying a property to let out, you want to buy a property that is in a saleable condition and in a saleable area.
You can work out how saleable the properties in a particular location are, by comparing the number of property sales to the number of properties in that street or area. The higher the number, the more saleable the properties are, and the more liquid the investment.
In Abingdon, one of the most saleable roads is Ypres Way. There are 85 properties in the close and in the last 3 years, there have been 18 property sales which is an impressive 21% sales to properties. Others in the top areas for Abingdon include Foster Road at 19%, Norris Close at 15%, Thames View at 11%. In Didcot we can see Longford Way at 21%, Dart Drive at 16% & Roebuck Court at 15%. In Wantage There is Pegasus Court at 23%, Wolage Drive Grove at 23%, and Charlton Road at 19%.
(Please note this excludes the areas with new builds as this would distort the figures, however we do know new builds are generally always an easy resale should an investor need to sell due to the high demand for new homes.)