Deciding what type of home to invest in can be tough. There are a number of different types, from detached to semi-detached, terrace to flats. You need to decide which suits your needs the best, especially if you are considering taking on tenants. After-all the property will affect the type of tenant you can attract. At Finefair, the best team for council leasing Barnet has, we understand the differences and can also assist investors in making a decision.
What type of property is the most popular?
The official figures show that terraced homes are the most popular in England and Wales. In March 2018 Land Registry were sent 23,036 for registration. This is up from 21,462 in the previous month. In comparison semi-detached registrations were up to 22,040 from 20,275, detached homes were up to 20,144 from 19,174, and flats/maisonettes were up to 18,253, showing a slight rise from 17,842.
As you can see terraces remain the favourite property type. There may be a number of reasons for this, including the fact that prices are generally lower for this type of housing. There are also advantages for mid-terrace houses in that they are insulated by the properties on either side. As a result they can be warmer and more energy efficient.
New or old?
In total there were 90,284 sales of land and property in England and Wales in the month. The vast majority of them were freeholds, totalling 65,558. Although they were the most popular the total was actually a 3.4% decline over the previous year. New builds on the other hand may have been behind in total numbers (16,355 in total) but had shown a big improvement over 2017. In the twelve months the number of registrations was up 10%.
If you are looking to purchase a property to let out Finefair can help you. We are knowledgeable and understand the responsibilities of landlords. With our help each client will meet them and can expect a great service.
Whether you are thinking private lettings or want to opt for the best council leasing Barnet has available, we have a solution. Contact our team today for information.