Following on from my lastarticle, if you recall I said that Cooden Drive had the most properties sold in the TN39 Bexhill postcode, yet I felt that this information wasn’t telling the whole story, as some roads in Bexhill have more properties on them than others.Therefore, I promised that I would compare the average number of properties sold by the actual number of properties on that street, to find out the streets whose owners proportionally moved (or sold) more often than the rest of the locality.
To give some foundation to the article, in 2017 Bexhill homeowners had, on average, lived at their existing address for 17 years and 6 months.
However, when I looked at thedifference between homeowners with and without a mortgage; Bexhill homeownerswithout a mortgage had lived in their Bexhill home for an average of 23 yearsand 9 months compared with 10 years and 1 month for homeowners with a mortgage.
Interestingly, Bexhill’s Rother Council house tenants have on average resided at their present home for 11 years and 4 months, whilst finally for those who rent from a private landlord, tenants generally have lived in their property for an average of 3 years and 11 months (up from 3 years 5 months only five years ago).
The TN39 street in the top 25 saleable streets with the highest number of households on it is London Road, which has 514 residential addresses. Yet since 1995, only 272 properties have changed hands (some multiple times!) .. which means the street’s saleability or churn rate is 52.9%?
However, the street or road that has the highest saleability or churn rate is Terminus Road … which has 80 households on it, yet since 1995 there have been 130 house sales … a saleability rate of 162.5%. Here is the full breakdown of the top 25 streets …
So, as you can see, some interesting statistics and a lot more correlation between saleability rate and property values (unlike the article last time where we compared value to ‘out and out’ raw sales figures).
Therefore, what does this all mean to Bexhill homeowners and Bexhill landlords? Well these 25 streets are the best performing streets out of the 373 streets in the Bexhill (TN39) area so if you live/own a property on those 25 streets … you are sitting on a very saleable street. If you want to find out how saleable your street is … please drop me a line at email@example.com or call my office at 01424 224242 and we can discuss this further. Kind regards, Patrick Stappleton, author of the Bexhill Property Blog.com, Managing Director of Redwell Estates.