Folkestone Lettings Market Report for Investors – Location, Supply & Demand
Posted: 5/11/16 1:39 PM
Like any town, Folkestone has its good areas, not so good areas and lots more in-between. Folkestone West is perhaps the most desirable part of Folkestone and the harbour area has the most potential. The Morehall district of Cheriton benefits from a combination of:
1. Proximity to Folkestone West railway station (and the fast train to London Kings Cross which takes just under and hour) and
2. A generous supply of affordable three and four bedroom houses which are frankly a bit short on supply in Folkestone West.
But whilst “Location, Location, Location” is the mantra for buying your own residential property, there’s a little more to think about when you’re buying a property for investment.
As a landlord myself I know that yield, or to be more specific return on investment, is important. But in addition to this I say:
“Location, Supply & Demand”
Getting these three factors right is, in my humble opinion, the secret of successful property investment.
Purchase an investment property in a desirable area and the tenants who apply to rent your property will be of a higher calibre.
Supply & Demand
Ensure that the supply of the type of property that you’re purchasing is outstripped by the demand – in other words – there’s plenty of tenants out there looking for properties just like yours.
Get this right and, of course, employ the right agent, and you’ll get many more good tenants than bad and your void periods will be minimal.
Ergo:Good tenants + Shorter Voids = Higher Return on Investment + Happy Landlord
This is the essence of my virtual tour of the Folkestone Property Market when a landlord visits our offices for the first time. But I can’t give them that giant laminated map, so I created a report which outlines:
- Recent supply and demand trends for the Folkestone Property Market
- Data broken down by property type and number of bedrooms
- Local area map highlighting high or low rental demand locations
I’ve created a downloadable version of the report and made it available on our website for everyone… and since this information is priceless… it is of course completely free with my compliments.