The subject of a lack of Margate property bargains over the last couple of years has always been near the top of most local landlord’s thoughts. I have built up an extensive database of every property sale in Thanet since the late 1990 ’s, so are able to give an objective and unbiased opinion on what (and what does not) make a good property deal /investment. Knowing what is and what has happened to the property market in the different areas of Margate (the differences of the property markets in Westgate on Sea, Margate, Broadstairs and Ramsgate for example) or comparing Thanet against say Canterbury, Deal or Dover, enables me to spot any trends /opportunities for buy to let landlords.
Here are a couple of bargains that I spotted at the time and made a note of. It’s obvious other people thought the same as it has now resold a few years later. A lovely 4 bed end terrace on Grotto Hill (with one of those houses with the lovely bay windows) sold in the Summer of 2013 for £124,500. Admittedly it needed a some TLC and a lick of paint, but what a bargain, because it sold again in the Autumn just gone for £162,500 .... a 30.52% increase in just under nine months. (Average property values in Margate in the same three years only rose by 6.1%).
Another property that caught my eye back in the early Summer of 2013 was a lovely 4 bedroomed semi-detached house on Arlington Gardens in Margate. It sold for a very reasonable £136,800 and again it needed some TLC but just over 15 months later the property sold again at an impressive £165,000, an uplift of 20.59% !
Now of course most landlords don’t do properties up to sell on straightaway, but it is a good way to build in equity in case the property market changes in the future. Buying the right property at the right price enables you to build in equity and future capital growth. Whether you are a landlord of ours or not or someone thinking of investing in rental market for the first time, drop by our offices for any advice and opinion on where the bargains are in Thanet or email me at firstname.lastname@example.org.