Repossessed Houses for Sale in Southampton

– Southampton has a population of 253,651

– That’s an estimated 105,916 households.

– According to gov.uk, there was an estimated 7 repossessions for every 100,000 households in the first quarter of 2018.

– The opportunity to purchase below market value properties in Southampton are fantastic.

Southampton appears to be a popular place to live for young working professionals at present, hence rent demand has been consistently on the rise. Large companies such as Old Mutual Wealth and IBM now have head offices in the area, and a new cruise terminal being built also resulted in Carnival UK placing a large office in the city. There is constant demand for student accommodation, with the two large universities in the area constantly growing. These factors have resulted in HSBC naming the city as the hot spot for Buy-to-Let investors. The report revealed Southampton as a city with a rental yield of 7.82%, which was an average of £901 a month.

Property investment in Southampton:

In 2018 so far there has been a small number of repossessed houses for sale in Southampton, as research from gov.uk reveal that 7 of every 100,000 households in the area were repossessed in the year’s first quarter. However, as the city that ranked in the top 10 for 5 year house price growth, it might indicate that the long-term residents are not experiencing pay-rises proportional to the housing and mortgage demands, which would eventually lead to higher levels of repossessions. Away from distressed property, there are a number of developments currently in progress which allows investors the opportunity to become a landlord in the buy-to-let hotspot of the UK, at prices that are below market value. This is because, similar to repossessed property, off-plan investment can provide a cheaper way for individuals to buy property – you secure the investment at the preliminary phase, therefore value would have likely increased by the time development is complete.