In today’s Tarporley property market, the Tarporley homeowners and Tarporley landlords I talk to are always asking me which attributes and features are likely to make their property comparatively more attractive and which ones may detract from the price. Over time buyers’ and tenants’ wants and needs have changed.
In Tarporley, location is still the No. 1 factor affecting the value of property, and a property in the best neighbourhoods can achieve a price almost 50% higher than a similar house in an ‘average’ area. Nevertheless, after location, the next characteristic that has a significant influence on the desirability, and thus price, of property is the number of bedrooms and the type (i.e. Detached/Semi/Terraced/Flat).
The number of bedrooms for owner-occupiers very much depends on the size of the family and the budget, whilst Tarporley landlords have to consider the investment opportunity. In this article, I have analysed Tarporley’s housing stock into bedrooms and tenure. Initially looking at Tarporley homeowners and then the Private rented sector.
It can quite clearly be seen that Tarporley owner-occupiers tend to occupy the larger properties with more bedrooms. This would be expected due to the demographic of homeowners and people that privately rent.
However, this shows there could be opportunities for Tarporley buy to let landlords to purchase larger properties with more bedrooms to attract tenants requiring properties with more bedrooms. However, before you all go buying larger 4 bed and 5 bed mansions to rent them out, a lot of bigger properties in Tarporley don’t make financial sense when it comes to buy to let.
For numerous years Tarporley buy to let landlords have been the lone buyers at the smaller one and two bed starter homes of the market, as they have been lured by elevated tenant demand and eye-catching returns. Some Tarporley landlords believe their window of opportunity has started to close with the new tax regime for landlords, whilst it already appears to be opening wider for first time buyers.
This is great news for first time buyers .. but one final note for Tarporley landlords .. all is not lost .. you can still pick up bargains, you just need to be a lot more savvy and do your homework.
About the Author: Ian Storey | Director
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