Well, it doesn’t seem like two minutes ago that it was Christmas – and now it’s all over! The New Year is just around the corner but I would like to look back at the Rotherham market during the Autumn.
One cold December morning, after arranging the office Christmas cards I went out for a coffee and a mince pie. I met an old client of mine in the coffee shop and we got talking about the property market here in Rotherham. I would like to share with you some of that conversation.
He asked me what my thoughts were about the last half of the year and if there were any great buy-to-let deals around.
In reply, I said that in my view, I have seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market. We have shrugged off the uncertainty of the initial post-Brexit vote and this has meant that both first time buyers and buy-to-let landlords have been returning in the last few months – proof the market is beginning to bounce back.
So let’s look at the numbers…
In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 249 properties for sale in S61. In November 2015, there were only 226 properties for sale. This is a rise of 10%.
When I split it down into bedrooms (please note things like building plots and part commercial/part residential etc won’t be in these figures so the numbers below wont exactly match up to those in the above paragraph).
| # Properties on the market in Nov 2015 | # Properties on the market in Nov 2016 | % Change | |
| 5+ Bedrooms | 9 | 6 | -33% |
| 4 Bedrooms | 27 | 15 | -44% |
| 3 Bedrooms | 104 | 121 | +16% |
| 2 Bedrooms | 77 | 96 | +25% |
| 1 Bedroom | 7 | 10 | +43% |
…and when I looked at type of properties it got even more interesting!
| Type of Property | # Properties on the market in Nov 2015 | # Properties on the market in Nov 2016 | Per cent Change |
| Detached | 39 | 42 | +8% |
| Semi | 84 | 91 | +8% |
| Terraced | 54 | 81 | +50% |
| Flat | 24 | 27 | +13% |
As the number of S61 properties put up for sale has risen, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is renewed confidence in the property market and there are also signs that people are being more realistic about pricing their property.
As you can see, there has been a significant uplift in terraced properties and a good uplift in flats, which means there is greater choice for first time buyers and landlords.
So with a combination of realistic pricing and more properties on the market – both first time buyers and landlords alike might be able to pick up a few bargains!
One place for great Rotherham buy-to-let deals is this blog. Irrespective of which agent is selling the property, I publish what I consider is the very best deals in Rotherham. It’s also worth following me on Twitter and Facebook for the latest news and updates about Rotherham and the property market here.
