Following on from my last article, if you recall I said that Wokingham Road had the most properties sold in the RG6 Reading postcode, yet I felt that this information wasn't telling the whole story, as some roads in Reading have more properties on them than others. Therefore, I promised that I would compare the average number of properties sold by the actual number of properties on that street, to find out the streets whose owners proportionally moved (or sold) more often than the rest of the locality.
To give some foundation to the article, in 2017 Reading homeowners had, on average, lived at their existing address for 17 years and 6 months. However, when I looked at the difference between homeowners with and without a mortgage; Reading homeowners without a mortgage had lived in their Reading home for an average of 23 years and 9 months compared with 10 years and 1 month for homeowners with a mortgage. Interestingly, Reading's Council house tenants have on average resided at their present home for 11 years and 4 months, whilst finally for those who rent from a private landlord, tenants generally have lived in their property for an average of 3 years and 11 months (up from 3 years 5 months only five years ago).
The RG6 street in the top 25 saleable streets with the highest number of households on it is Wokingham Road, which has 525 residential addresses (including surrounding villages). Yet since 1995, only 458 properties have changed hands (some multiple times!)... which means the street's saleability or churn rate is 87.2%.
However, the street or road that has the highest saleability or churn rate is Jay Close ... which has 50 households on it, yet since 1995 there have been 155 house sales ... a saleability rate of 310.0%. Here is the full breakdown of the top 25 streets ...
So, as you can see, some interesting statistics and a lot more correlation between saleability rate and property values (unlike the article last time where we compared value to 'out and out' raw sales figures).
Therefore, what does this all mean to Reading homeowners and Reading landlords? Well these 25 streets are the best performing streets out of the 431 streets in the Reading (RG6) area so if you live/own a property on those 25 streets ... you are sitting on a very saleable street. If you want to find out how saleable your street is ... please drop me a line at [email protected] and we can discuss this further.