Bag a Bargain in Burnley

Property Investors have been busy during lockdown and according to Hamptons International properties being ‘flipped’ and resold within a year are at their highest level since 2008!

This occurs when a property is bought, done up and resold. And for the 6th year in a row more properties have been flipped in Burnley than any other town! Apparently Burnley made up 8.2% of all properties being flipped: 81% of them were bought for less than £40k and the average profit made was £20,643.

It just goes to show that you don’t have to be spending a huge amount to get a great profit. And although this looks like investors are cashing in, they are also doing a great service by renovating huge numbers of housing stock in run down areas. In fact 8 of the top 10 areas for flips are in the north which does indicate where many of the run down properties are in the UK.

This is a win win: the investors are getting profit for sure but they work hard for that and they create valuable housing units when we have a massive shortfall.

To learn more about flips and creating wealth through property register for one of our FREE webinars here https://www.fieldingfinancial.com/webinars/

 

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