MANAGING DIRECTOR OF KAY & CO, CENTRAL LONDON ESTATE AGENCY
Q. Should I buy a one bedroom flat in a better location, or go for a larger flat in a less sought after location? Is square footage or location king for investment?
A. Statistically, in the long run, properties in more sought after locations will appreciate at a greater rate than those in less sought after, largely due to the fact that they are more in demand and have a limited supply. I always advise my clients that they are better buying the worst (or smallest) house in the best street rather than the best (or largest) house in the worst street when looking at property purely from an investment perspective. In short, location is almost always king when it comes to investment.
Q. I need to sell my property as quickly as possible but I’m not sure whether January is a good time to put it on the market. Would I be better advised to wait until the Spring market?
A. While the Spring market is traditionally one of the peak selling times, January is by no means a bad time. The market 2012 sales appears to have got off to a reasonable start with a good number of new buyers registering, even during the first week of January. Given your requirement to sell your property as quickly as possible and given the Spring market is a good twelve weeks away, I would certainly recommend that you put your property on now and am sure that, provided you price correctly, you will find a buyer reasonably quickly.