How can you find a good property deal in Penicuik?

I was having a cuppa with one of my landlords the other day, when he explained there were no property bargains for him to buy in Penicuik. I politely suggested to him that this was ‘hog wash’ (technical term for ‘surely not true Sir’!) and said that I would find a few examples to show him that there were indeed property bargains to be had, you just need to know where to look. We don’t sell property and don’t charge for our advice so we can give impartial advice without any conflict of interest to our landlords.

Here is what I discovered when I did a bit of digging.

A house in Yarrow Court sold in 2007 for £130,000. In January 2017, she sold again for £116,500, a drop in value of £13,500 or 10.4% over the whole 7 year period or 1.1% per annum! A property on Old Dalmore Terrace sold for £224,000 in January this year. When it was last bought in May 2014, it went for £230,000 which is a fall in value of £6,000 over 2 1/2  years or 1% per annum. These are both excellent value properties.

Also, the price does not necessarily have to fall to get a bargain.  In my final two examples I found the prices actually rose but the properties were in good areas of Penicuik and the annual increase in price was small so I consider it to be a bargain.  The first was a house in Rullion Green Grove which is a particularly good part of town. It was bought for £276,006 in 2006 and was sold in December 2016 for £290,000 which is a meagre increase of only 0.5% per annum.  The second was a property in Jackson Street that was bought for £145,000 in August 2017 and sold for £146,000 in January of this year or just 0.6% per annum.

So there are bargains to be had in Penicuik .... there have been in the past, there are currently and there will be in the future.  The trick is to be able to spot them.  We have detailed information about the Penicuik property market at our finger tips which allows us to spot property bargains that we can recommend to our clients. We don't charge for these recommendations.  

If you want some advice, come and see me in our offices (6 Bank Street, Penicuik), call me (on 01968 647601) or email me (news@thekeyplace.co.uk).

www.thekeyplace.co.uk

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