As you may know, a few weeks ago I was approached in Droylsden on my thoughts of the buy to let market in the town. I did a bit of research and combined my own predictions to draw an interesting conclusion, which ultimately was passed on to an investor looking in the Mossley area. His question? What were my similar thoughts on the direction of the buy to let market for Mossley in 2018?
Over the last 12 months, 167 properties have been sold in Mossley, with 65% of these properties consisting of terraced housing which presents potential as buy to let investments.
In my original piece, I wrote how a recent report by Home suggested landlords are dumping their buy to let investments back onto the market due to the increasing amount of headaches caused by the ever-growing list of hurdles being presented to self managing landlords. To analyse this effect in Mossley I took a look at the data showing how many properties were on the market in early 2017 and compared the results to this year:
|Property type||Properties on the market Jan '17||Properties on the market Jan '18||Percentage Change|
|Flats & Apartments||0||1||100%|
In total, Mossley has seen a 25% overall increase of property in the market in 2018 from the previous year. Semi-detached properties have decreased in availability on the market; combined with their growth of 5.5% in value over the past year, the evidence suggests that landlords and investors with these properties are holding onto them whilst the values increase.
The availability of terrace houses on the Mossley property market has seen the largest change, skyrocketing by 87%.5, but with only a 0.72% change on their average value. These trends highlight investment as a leading factor in the Mossley property market, with the value having a significant effect on the availability of properties.
In another previous report, I identified Mossley as the second highest area in for recovery on terrace property values post credit-crunch, so despite the smaller bracket of change on the previous year, there still doesn’t appear to be any signs of their value levelling out or decreasing any time soon.
What does this mean for you then as an investor or landlord in Mossley? It’s an ideal opportunity to take advantage of the availability of terrace properties for investments.
You can keep up to date with all the latest Buy to Let deals here on Tameside Property Expert to remain at the forefront of investment opportunities, or alternatively drop me an email or phone call. I’m always happy to discuss your investment opportunities.