I was speaking to a landlord last Thursday afternoon and they 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 used to work out how on average how long people own properties in the roads or streets.
So, the most saleable road in Uxbridge is Mill Bridge Place where the average property sells every 9.3 years. There are 46 properties in the road and 91 sales since 1995, so just about 2 sales for every house. Others in the top 10 in Uxbridge include Newcourt in Cowley which sell every 10.7 years, Pinewood Avenue in Hillingdon (every 11), Clarkes Drive off Royal Lane (every 12.2) and Verona Close, Cowley (every 12.6).
To put these times into context the national average property sells every 24 years, so these properties move at double the national rate.
If you would like some advice about what could make a good investment, please visit our office on Hillingdon Hill. Whether you are landlord of ours or not, feel free to pop into our office for our opinion on what to invest in or not, as the case may be.
