84.1% of Aylesbury Properties have 3 or more bedrooms

The orthodox way of classifying property in the UK is to look at the number of bedrooms rather than its size in square metres (although now we are leaving the EU – I wonder if we can go back to feet and inches?). Homeowners and tenants are happy to pay for more space. The more bedrooms a house or apartment has, the bigger it is likely to be. The reason being not only the actual additional bedroom space, but that properties with more bedrooms tend to have larger / more reception (living) rooms. This is not so surprising given that properties with more bedrooms would typically accommodate more people and therefore require larger reception rooms.

Aylesbury homeowners and Aylesbury landlords I talk to often ask me which attributes and features are likely to make their property comparatively more attractive and which ones may detract from the price. Over time, buyers’ and tenants’ wants and needs have changed. In Aylesbury, location is still the No. 1 factor affecting the value of property, and a property in the best areas can command a price nearly substantially higher than a similar house in an ‘average’ area. However, after location, the next characteristic that has a significant influence on the desirability, and thus price, of property is the number of bedrooms and the type (i.e. Detached/ Semi/Terraced/Flat).

In previous articles, I have analysed the Aylesbury housing stock into bedrooms and type of property, but here I have cross-referenced type against bedrooms. These figures for the Aylesbury Vale District Council area make fascinating reading. It shows 84.1% of all properties in the area have 3 or more bedrooms

Bedrooms	Detached	Semi-detached	Terraced (including end-terrace)	Flat
1	32	96	95	338
2	320	1,794	2,565	1,146
3	2,881	8,607	5,809	216
4	7,108	3,159	1,083	54
5 or more	3,971	719	189	8

 

I was surprised at the low numbers of one and two bedroom properties as tenants and first time buyers  alike favour smaller one and two bed properties in Aylesbury (so they would be attractive to buy to let investors). It is interesting that there has been little change in the numbers of properties on the market in total. However the split in bedrooms on the market over the last 12 months is much more marked. 

·         12 months ago, 54 one bed properties were for sale in Aylesbury, today 25, a drop of 54%

·         12 months ago, 118 two bed properties were for sale in Aylesbury, today 97, a drop of 18%

·         12 months ago, 105 three bed properties were for sale in Aylesbury, today 165, a rise of 57%

·         12 months ago, 54 four bed properties were for sale in Aylesbury, today 57, a rise of 6%

·         12 months ago, 13 five + bed properties were for sale in Aylesbury, today 15, a rise of 15% 

This availability helps to explain the substantial price increases we have seen at the lower end of the market as investors and first time buyers compete for limited stock…straight forward rules of supply and demand!

This trend is showing no signs of changing post Brexit with the interest rates at incredibly low levels money is cheaper that it has been for years and returns from the banks on invested money are miserly. I think we are likely to see increased activity once we approach September and the end of the holiday season.

Pricing attitudes continue to be an issue for buyers as prices are often inflated by over ambitious agents and vendors alike. But so long as you do your research there are still sensible buys to be had.

Want to talk through you plans?...pop in for a cup of tea and a digestive any time you are passing our office in Temple Street or email me ian@mortimersaylesbury.co.uk