Friday, 30 October 2015

Crossthwaite Grove Has The Most Saleable Properties In Sunderland!

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 not only deliver positive cashflow when rented but it should also sell easily 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 going to be saleable

You can work out how saleable the properties in a particular street or development are by comparing the number of sales transactions 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 the most saleable street (the street with the highest relative turnover of properties) in Sunderland is Crossthwaite Grove in Hylton Castle (SR5)

It’s a small-ish development built in 1997 with only 49 properties in the street but there have been 111 property sales, which is an impressive 226% sales to properties 

The property shown is one we've recently taken on and have managed for a few months and based on this experience we'd suggest that it is a very popular location that will be equally easy to let

Other streets in the top 10 include Beechbrooke in Ryhope at 182%, Wearhead Drive (SR2) at 181% and The Strand in Lakeside Village at 170%

What all four of the above have in common is that they are relatively new developments, the oldest being The Strand built in the early 1990's and all have a mix of both houses and apartments

Interestingly the other notable location showing a very high turnover of properties is the Royal Courts development near the City Centre - there are 158 properties split across the two 'Albert' and 'Victoria' courts with 329 property transactions in total since they were built in 2000, giving 208% sales to properties

Clearly how saleable a property is going to be is only one factor you need to consider when buying an investment property so whether you are a current Landlord of ours or not, feel free to give me a call on 0191 567 8577 or pop into our office on Frederick Street for a chat about any aspect of property investment in Sunderland

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