Thursday 16 October 2014

Chichester - Flipping property

As I prepare next week's article for the local paper, I thought it would be interesting to see if there's still the opportunity to make money in Chichester's property market. To check this out I need data, lovely juicy data, which you can see below.

It seems timing is everything in property, in several different ways.

Long-term owners are making significant gains; 35 Stockbridge Road going from £60,000 in 2000 to £620,000 in 2014, a whopping 933% increase!

Fortunate with their timing are those who bought at the market lows of 2008-2010, such as the owners of 9 Franklin Place who were either smart or brave to pay £250,000 in 2010 but sold it this year for over £400,000 - an increase of 62% in 4 years.

Then there's the true 'flips'. The short-term buy it, do it up and sell it on. Harder to tell the true 'profits' without knowing what was spent on refurbishment, but 2 properties feature that were bought in 2013 and sold the following year - rising in value by 14% and 21% in the process.

Interestingly if I were to show the market 'flops', whereby property's lost money, only 6 of the top 10 actually did lose money. The other 4 had merely increased the least (by 0% and 2% respectively).

Nothing is guaranteed in property, but I do like those odds.


chichester property sales

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If you are looking for an agent that is well-established, professional and communicative in Chichester, then contact us to find out how we can get the best out of your investment property.

E-mail me on clive@crjlettings.co.uk or call 01243 624 599.

Don't forget to visit the links below to view my previous buy-to-let deals and Chichester Property News articles:


c/o CRJ Lettings, 30B Southgate, Chichester, West Sussex, PO19 1DP
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Location: Chichester, West Sussex, UK

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