The national property market is certainly in recovery and house prices are on the increase, but how affordable is property in the Swanley area?

A simple trick of the trade to help you judge the affordability of a town is to work out the ratio of average property prices to average salaries. The lower the ratio, the more affordable the property is.

Our research has found that Swanley (BR8 postcodes) currently has an average property value of around £251,600 and an average salary of £20,490.

This gives a ratio of 12.28 which is higher than the National average of 9.36.

Bromley, BR7 postcode, has an average property value of £486,800 with an average salary of £34,470 and a Price/Earnings ratio of 14.12.

Meanwhile in Orpington (BR6) the ratio of property values to salary is 13.33 with an average salary of £29,610 and average property price of £394,700.

We also had a look at Bexley (DA8) and found that the average salary there is £18,307, but average property prices are £180,000 giving a ratio of 9.83.

Taking the above information into account, now could be a brilliant time to consider investing in the Swanley property market.

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Some facts about the Swanley (BR8) property market!

The least expensive streets in Swanley are: Inglewood (43 properties), Hibbs Close (41 properties), Bevan Place (36 properties), Nightingale Way  (36 properties) and Station Road (5 properties).

The most expensive streets in Swanley are: Hotham Close (20 properties), Hogs Orchard (5 properties), Hockenden Lane (30 properties), Squires Field  (12 properties) and Clement Street (34 properties).

The highest turnover streets are: Claremont Road (277 properties with 243 transactions), Oakleigh Close (123 properties with 231 transactions), Swanley Lane (183 properties with 188 transactions), Northview (258 properties with 112 transactions and Glendale (117 properties with 105 transactions).

The above figures are taken from information gathered since 1995.

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Whether you are a new landlord or an existing landlord, I don't charge for my advice because if I offer you the best opinion and we build a relationship, then you might (and there is no obligation or expectation to this) just use me to manage those properties and so I have plenty of time to earn money from you by looking after your buy to let property for years to come, a property that we jointly decided met your requirements for the investment ..... because that is what it is ..... an investment. 

So, feel free to call for a chat about the property market in our town.

Tel: 01322 667 671

www.Virotti.co.uk