What type of property in Falkirk sells the best?

Knowing how saleable a property is half the battle when deciding what (or not) to buy for your next property investment. Why?  Well because one day, you may need to sell that property. If you go into the purchase with open eyes, you know most of the risks and can barter the price accordingly if you have to.

Bearing this in mind, last week, a couple from Polmont popped into our offices to ask about investing in property. Their concern was if we have another property slump (and we will because that is what has happened to the British property market ever since the 1950’s), if they did need to sell, what type of property would be easier to sell. Now everything sells, even during a slump, but I did some research and followed up their query – I was actually quite surprised with the results.

A good guide to judge the saleability of property is the number of properties for sale, compared to the numbers that are sold, subject to contract. Now I carried out this comparison last week, so the numbers will be marginally different today, but of the 16,819 households in Falkirk there are 370 properties on the market for sale. Of those 370 properties, 178 properties are fully available on the open market waiting for a buyer and 192 have buyers and are sold subject to contract. That means 52% of property on the market has a buyer in Falkirk (interestingly in Linlithgow 45% of properties on the market have a buyer and in Edinburgh 54%).

Analysis by type of property

However, delve deeper, and in Falkirk today, 58% of detached houses on the market have a buyer and great news for terrace house owners as 63% of them have buyers.  Semi-detached houses fair even better, with 2 of the 3 on the market now having buyers (making a wapping 66%). The properties that appear to be sticking though are flats at a comparatively lower 37%.

Analysis by number of bedrooms

Doing a similar analysis but this time by number of bedroom is even more interesting.  45% and 46% of studio and 4 + bed properties respectively on the market already have a buyer and this rises to 49% for two bed properties.  Fascinating though are the three bed properties where 72% of these sort of properties that are on the market have a buyer!  However, life is not so good for 1 bed properties as only 29% of these properties have a buyer.

Taking the above together suggests that, at the moment, 3 bed semi-detached houses look like the way to go.

We are always giving advice to our existing and new landlords in Falkirk on what to buy (or not as the case may be).  Having this detail of information at our finger tips, allows us to spot trends in the local market, which then enables us to give the very best advice to our clients. We don't charge for that advice as we have plenty of opportunity to earn money by finding the best tenants for our landlords in the years to come on the investments we have advised on.  If you want some advice, call me on 01324 469840, come and see me in my offices (6 Vicar Street, Falkirk) or email me (news@thekeyplace.co.uk).

www.thekeyplace.co.uk

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