The M.E.N recently published an article which highlights why you should invest in Stockport; pointing out our fantastic transport links, schools, parks, and the fact that we have access to both Manchester Town centre and the Cheshire countryside – we really are in the perfect spot. But it is Stockport Town centre’s development plan which is really making investors take note. They know, as I do, that the changes in the pipeline are going to completely change the image of Stockport, and are acting fast because of that – and you should too!
Increasing clarity in the UK’s economic future has increased confidence in the property market. A look at sales levels in Stockport over the last 15 months seems to indicate this too. Since January 2017 sales levels for flats are up 10 points and houses are up 51 points since January 2016.
The Aurora Business Park, located alongside junction 1 of the M60, is really starting to take shape. 9 of the projected 10 units now have their framework up, and it’s starting to look very impressive. It is another example of Stockport Council’s aggressive plan for the Town centre, with this particular development concentrating specifically on retaining larger businesses, which is great to see!
The total housing market value is a combination of the number of transactions and the average property price in a given quarter. It can give a real idea of the buoyancy of the market in Stockport. The third quarter of 2016 was the largest quarter (27.5%), closely followed by the final quarter of 2015 (24.9%).
When it comes to selling your home, the goal is to achieve more than the initial price you paid when you bought it. A significant amount of your home’s resale value will be affected by the appreciation of house prices in Stockport, where average sales values have risen by 18.0% over the last 10 years. However, if you want to achieve the maximum sale price for your property, there are several home improvements you can make that will add to the overall value.
Creating an extra bedroom, especially with a loft conversion, offers the best return for your money. Although initial costs are not inconsiderable, a double bedroom could add 11 per cent to the value of your home, a gain of £18,400 on average Stockport properties. Budget carefully according to your house size and current market value, and you could be onto a winner.
Space commands a premium, so you should create more of it in your property if the opportunity arises. Extra space can transform the whole look and feel of your home, adding value and making it more desirable to house hunters. By adding extra square footage, you can increase your property’s overall value by as much as nine per cent. That would be an extra £15,100 if we go by the average property price in Stockport which is £167,600.