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Should You Sell or Let Property in Bath

With so many estate professionals advising against buying to let, one begins to wonder if selling their Bath property might be a better investment for their financial portfolio. The problem with this course of action is that it does not take into account the short to long-term development of the city, and, by implication, that of the local real estate market.

We, at Pritchards, offer you some of the most reliable agents in Bath, and we recommend you absolutely buy to let in Bath. There’s no gimmick or outlandish prediction involved in this decision; just cold, hard facts. Yes, your short-term profit might suffer for a little while, but this is a temporary slow in what promises to be a steadily climbing letting market.

What the Number Say

Before we take a look at the macro-economic development of the city, there is much insight to be gained from estate market data from recent years. Private rental prices are growing at a slightly higher yearly rate than the 1.4% reported for rest of England, as indicated by ONS’2019 Index of Private Housing Rental Prices.

This is a reflection of the fact that, over the past ten years, the average property selling prices in Bath have risen substantially. All types of properties have enjoyed an all-round, flat increase of 40% ever since the late 2000s.Anybody who purchased a semi-detached home back then had to fork out around £300,000, whereas now they’d have to pay an upwards of £430,000.

This might seem counter-intuitive given the post-recession bearish turn of the market, but it’s nonetheless true. The difference for detached properties is even higher, but their sales volume is also usually smaller.Whether we like them or not, numbers often tell a compelling truth that is hard to ignore.

Perspectives for Bath: Families and Businesses

Just because Bath is a bit out of the way, this doesn’t mean that the social aspect of the city is any bit worse than that of the metropolis upon Thames. In fact, close to 4 million visitors come to this World Heritage Site every year. The Music, Fashion, Literature, and Culinary festivals are some of the most important events that bring the community together. People find the lack of London stress a benefit in and of itself, especially since the city strikes a perfect balance between a nurturing home and opportunities to have fun.

It’s not just tourists looking to enjoy the local thermal waters who visit the city, but also many businesses. Entire companies of young urban professionals have chosen to start-up their business idea in Bath because they want to take advantage of all of the benefits of a well-trained workforce at a fraction of the administrative costs. Since many peopleprefer to work remotely nowadays, there’s little point in sticking to a place such as London, which is so overflowing it longer nurtures one’s growth.

All of these aspects point to the fact that estate market prices, both for sales and tenancies, will continue to organically increase as a result of local growth.Letting now might not be the most profitable endeavour, but things will be very different in less than a couple of years. Not selling still gives you a choice later on.

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