Affordability of Teddington Property

A landlord I know well gave me a ring earlier this week to discuss the affordability of property in Teddington with the current national property market being in recovery alongside increasing house prices. I've mentioned this before but it's definitely worth the reminder..... the best advice I can give to those looking to invest in property is our trick of the trade. You can judge the affordability of a town by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is.

We wanted to put this to the test and also add in a couple of comparisons. We found that Teddington currently has an average property value of around £711,221 with the average salary being £41,808. This is an unsurprisingly high ratio of 1 to 17.0! Meanwhile, in Twickenham, the ratio of property values to salary is 1 to 14.3, which suggests the property in the Teddington is 15% less affordable than in Twickenham.

We also had a look at Isleworth and found the average salary is £29,164 and the average property value is £417,110. Interestingly, this means that property in Isleworth has exactly the same affordability as property in Twickenham with a ratio of 1 to 14.3.

With the ratio being so high compared to the national average of 1 to 9.7, this could mean that now is a brilliant time to invest in Teddington's property market. Until the ratio comes down, making it more affordable for people to buy, there will always be a need and therefore high demand for rented property. People want to live here, but can't afford to buy, so therefore rent. Simple!

Rebecca Smith

http://www.rebeccasmithpropertyservices.co.uk/