I was talking to a landlord recently and they asked me for my opinion on what to look for when purchasing a Buy to Let property. One piece of advice I was able to offer was that a good property should sell when you need to release funds. So, if you are a landlord considering buying a property to let out, you want to buy a property that is saleable.
You can work out how saleable the properties in a particular street are by comparing the number of house sales to the number of properties in that street. The higher the number, the more saleable the properties are.
So, having done a bit of research, in Chelmsford, one of the most saleable streets is Anchor Street, it’s a small-ish road with only 22 properties in the street but in the last 10 years, there have been 28 property sales which is an impressive 127% sales to properties. Other streets in the top 10 include Fotinbras Way at 100%, Chelmer Road at 81%, Wicks Place at 74% and Gerard Gardens at 73%.
Whether you are landlord of ours or not, feel free to pop into our office on Duke Street for our opinion on what to invest in or not, as the case may be.