Wednesday, 10 December 2014

Is the Royal Tunbridge Wells Property market a runaway train?

Some of my landlords invest for yield, some invest for capital growth (and some for a bit of both). Everyone is different; if you are a landlord in Royal Tunbridge Wells, who invests for capital growth as opposed to yield, it is crucial to look to build in capital growth in a property by getting a property at a discount or by finding a way to add value.

So, how can you get a discount in this property market, with Royal Tunbridge Wells property values alight and property being snapped up over night? Achieving capital growth in Royal Tunbridge Wells is going to be tough over the coming few years isn’t it? Well yes and no. Looking at the headline figures, of the 1,047 properties available for sale today in Royal Tunbridge Wells, 581 of them are sold subject to contract, an impressive 55.4% which is obviously a sign of a runaway Royal Tunbridge Wells property market? Well, no it isn’t. Don’t get me wrong it is a lot better than it was a few years ago, but there are still good property deals to be had.



We asked Rightmove for all of the properties that had come on to the market in the last 28 days (264 to be precise), after one month, how many of those 264 had found buyers .. less than one in five (51 to be precise or 19.3%). Look at the last 56 days (2 months) and of the 501 properties that have come on to the market in Royal Tunbridge Wells, only 179 have a sale agreed on them (or 35.7%) .. the property market is good but it’s not a runaway train, is it?

The main thing is that landlords must take as much advice as possible. They will need to take a long and serious look at any existing properties or new ones to make sure they can achieve capital growth and that this increases in line with inflation.  

We are able to look at the whole of the Royal Tunbridge Wells property market.  There are good estate agents and bad ones, but one thing is always the same,  they are all paid by a vendor to sell you a property, not paid by you to help you buy. Therefore, when they show you that bargain, don’t get pressured into buying a property until you have a good feel for the market. We have many landlords who send me a web link of any Royal Tunbridge Wells properties they are interested in and I always give my honest opinion. (It might not be what you want to hear, but it will always what you need to hear!).

If you would like to discuss my thoughts on the rental markets Royal Tunbridge Wells, feel free to pop into our offices on Vale Road or email me on david.rogers@martinco.com



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