I was talking with a landlord on Friday and he wanted to know what to look for when purchasing a buy to let property. One of the pieces of advice I offered was that the property should sell easily when you want to release funds from the investment. Property is not seen as a liquid asset, but you’d still want to convert your assets to cash with a sale as quickly as possible, and in property that means being able to sell and complete reasonably quickly.
Comparing property sales to the number of houses in a road should give a measure of how saleable a road is. The higher the number, the more sales there are per house and this information is used to work out, on average, how long people own properties in the road.
Based on the number of sales since 1995, the most saleable road in Enfield is Harston Drive where the average property sells every 7.6 years. There are 130 properties in this road and 315 sales so about 2.4 sales for every home. Others in the Top 10 include Keats Close which sell every 8.1 years, Gater Drive every 8.4, and Linwood Crescent every 8.8.
To put these times into context the national average property sells every 24 years, so these properties move at up to three times the national rate!
