I was chatting with one of my Landlords the other day when he complained that there didn’t seem to be any property bargains in Andover. With us being involved in the sales market we are pretty up to date with what is going on but I did a bit more in depth digging and here is what I came across.
A 2 bedroom flat in Clarence Court, Andover was sold in April 2008 for £165,000. It sold again in November 2016 for £150,000, a drop in value of just over 9%! Another two bedroom flat in Woodlands, London Road sold in January 2008 for £130,000 and was re-sold in December 2016 for £124,950, a drop of 3.88%.
From looking at these properties on the internet, both looked to be in good order and I suspect that the main reason for the drop in value is that both of these properties were originally bought in early 2008 when prices were still quite high.
So, if you are looking for a bargain, be prepared to do your research as it can pay! All of this information is readily available these days to anyone with internet access using sites such as Mouseprice.com.
Alternatively, come and talk to your local friendly agent!