Information is so important when making decisions on what
(or not) to buy when investing in Royal Tunbridge Wells property. The demand
for rental properties is much greater that the supply and some circumstances, we
have four to five prospective tenants for each decent property. As always the
demand is much greater for properties that are good areas. Also, we are
noticing that tenants are staying longer in their chosen property with some
tenants signing for the third and fourth years. This is obviously causing
problems from the supply side so we are relying on new investment Landlords to
bring in some new properties.
Today, I want to look
at the Pembury to the North of Royal Tunbridge Wells. By knowing the different
areas of Royal Tunbridge Wells, I can weigh up potential hotspots in the rental
market and show potential landlords where there could be an opportunity. The
majority of properties sold in Pembury during the last 12 months were terraced
houses which on average sold for £236,800. Semi-detached properties had an
average sold price of £343,100 and detached properties averaged at £396,100.
The overall average property in Pembury is worth £308,200,
which as one would expect is lower than Royal Tunbridge Wells overall average
at £348,500 or nearby Southborough at £327,800 or Matfield at £439,700.
In Pembury, there are 5,924 people living in 2,400
properties. It is the home ownership percentages that really got me interested,
as it is this information, tied in with our intimate knowledge of the market,
where we can match tenant demand to an under supply of rental properties. In Pembury,
of those 2,400 households, 74.3% own
their property (compared to the Royal Tunbridge Wells average of 65.7%).
There are only 179 rented properties in Pembury which are in
the private rented sector (meaning 7.4% of Pembury properties are privately
rented compared with the Royal Tunbridge Wells average of 15.7%). The reason
the private rental sector is much lower is that Pembury has a high proportion
of homeowners and hardly any local authority housing. The properties do sell
well, in fact 452 properties have changed hands since 2007. However, with such
excellent demand from homeowners and tenants, this could be the right area to
purchase your next buy to let investment.
Therefore, if you are considering buying a property for
investment in the near future, as I don't sell property, I am always happy to
give you my considered opinion on which property to buy (or not as the case may
be) to give you what you want from your investment. If you are a landlord, new
or old, I am certainly more than happy for you to pick up the phone or visit
the Royal Tunbridge Wells Property Blog
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