(covering SK1, SK2 and SK3)

Month: January 2017

tour of a great rental in stockport

This is a fantastic rental that became available recently, on the market for £650 per calendar month and recently refurbished.

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growth of the private rental sector in stockport

The PRS (Private Rental Sector) in the UK has grown considerably in both size and importance over the last five years and is now worth a staggering £1.29 trillion. To contextualise, that is 1.29 million stacks of pound coins, with each stack being a million coins high. The PRS now makes up 18% of the housing stock in England alone and is expected to rise to more than a third by 2032.

Because of this rampant growth, it is no surprise to see that 17.7% of homes in Stockport are privately rented, which is encouraging for private landlords and would-be investors. Even homeowners have something to think about, as they may be tempted to turn the family home into a source of income, or indeed use their pension pot to become a landlord.

A decade ago, buying a home was a very different experience. Post-credit crunch the landscape in Stockport has changed, with many younger people unable to buy their own homes due to house price growth outpacing wages. This has made it both logical and practical for many people to rent, choosing between renting privately or using the options available from the local housing association.

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rents to rise by 4% outside london this year, says rightmove

I have found an interesting article on Property Industry Eye which I believe may be of some interest to those currently renting or whom are looking to rent to over the coming year.

Rightmove is forecasting asking price rents to rise 4% outside London this year.

Last year, the portal says asking price rents rose 3% outside London but fell 4.4% inside the capital.

The highest growth was recorded in the northern regions of Yorkshire & the Humber and the north-west; however, with the exception of London, all regions recorded a rise.

In inner London, rents fell by 5.2% while there was a smaller drop of 2.5% in outer London.

Rightmove’s head of lettings Sam Mitchell said of the 2017 market: “This year will be one of caution for buy-to-let investors due to tighter lending criteria and increased Stamp Duty.

“We definitely won’t see the spike in Q1 purchases that we saw last year as landlords rushed to buy before last April’s new Stamp Duty deadline.

“If the tax changes being phased in from this April lead to even fewer buy-to-let purchases and some landlords deciding to sell, then a tightening of supply in some areas will lead to increasing rents.

“We forecast that asking rents could rise by 4% outside London by the end of 2017, though in London prices are likely to stay flat.”

He added: “Investors looking for the strongest yields could consider investing in certain areas in the north-west where both demand and yields are high.

“Those with a number of properties in the capital may find that tenants are more price sensitive, so setting realistic rent levels will be the key to avoiding void periods.

“In order to mitigate this, we would recommend landlords asking for longer tenancies to help secure a steady rental income over the next few years while they adjust to what the tax changes will mean for them.”

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stockport, a great place to live

Whether it’s urban living in the Town Centre or enjoying the rich mix of housing in the suburbs, Stockport is fast becoming a hotspot and was voted the happiest place in the North West by Rightmove.

Julian Wadden, the respected South Manchester Estate Agent, opens their doors in Stockport Exchange tomorrow, in what must be the most high profile and exciting location in town.

Andrew Smirthwaite, who heads up the latest branch commented “Stockport is fast becoming the next property hotspot, first time buyers, landlords and families alike are being drawn by the huge investment and regeneration of the centre, the wealth of cultural and heritage attractions, and the educational and sporting facilities. Not only has Stockport attracted some of the country’s biggest companies but also has its unique local character and independent retailers.”

There is definitely a buzz and energy about the area with a thriving community; many places to eat, an historic Old Town, great shopping, The Plaza and two new large retail developments that will completely change the landscape of The Centre. As well as a must go to location for ‘Foodies’ in South Manchester.

To celebrate the opening Julian Wadden are offering to sell or let your property for FREE in SK1, SK2 and SK3 which they envisage will save both sellers and landlords literally thousands of pounds. It’s on us! Visit www.julianwadden.co.uk/sellorletforfree

Andrew encourages anyone who is thinking of selling, or letting or has been less than satisfied with another agent, in SK1, SK2, SK3 to drop in, say hello and meet him and his team.

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welcome to gemma francis, lettings manager

I’d like to introduce myself – I’m Gemma Francis and am delighted to have joined Julian Wadden Stockport Exchange as Lettings Manager. I have a lot of experience to bring to the team, having previously worked for Estate Agents Marsh & Parsons Ltd in London. I’ve worked within the industry for 3 and half years and am excited to immerse myself in the Stockport lettings market.

If you’d like to get in touch for anything property related, don’t hesitate to call on 0161 474 8668 or email me at stockportlettings@julianwadden.co.uk. I’d love to hear from you!

 

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