I often get asked by investors, “So what’s going on in the Watford property market at the moment?” and sometime I’m not sure if they are prepared for my lengthy response! But as I do get asked this question quite a lot I thought it might be worth having a look at the last few months or 9o days to be exact to see what’s been happening.
Firstly let’s have a look at sales. The graph below shows that more 2 and 3 bed properties have bene put onto the market than any other type of unit so in theory it should be easier to pick up this type of unit than any other.
When we look at what type of unit is more popular, if you hover over the green bars you can see the percentage of each type of unit that has been sold stc. 70-72% of 1-3 bed units are sold stc whereas fewer of the larger houses are sold.
This is no doubt because there are both investors and homeowners looking to purchase at the 1-3 bed level however there are fewer investors looking at the large units so the market is not quite as fast.
As the Lettings market moves a little more quickly than sales I have gone back just one month and found the following:
There seem to be significantly more 1-2 bed properties listed in the last 30 days than any other type of property. This is no surprise as there is a higher demand for 1-2 bed properties and there is also a higher turnover at this level in the market.
It’s no surprise to see fewer of the larger units listed and a very low percentage of them showing as Let Agreed.
If you are taking a keen interest in the local market like me or thinking of buying an investment property then why not pick up the phone and let’s have a chat. You can reach me on 01923 375 300. No hard sell, no pushing, we don’t sell property so our opinion is completely impartial!