(covering SK1, SK2 and SK3)

Month: June 2017

A beautiful investment for you… Glebe Street, Stockport, SK1

I decided that this week I would like to bring you a beautiful investment, something that is completely done up and ready to go on the market immediately.  It is quite rare to find a perfect property, that needs no work at all, but when you do find one it is extremely exciting!  I am also constantly hearing from buyers/investors that they want something where they need to do no work at all and will just be able to find a tenant immediately.  This is fine… but it does mean that your yield will have to take a little bit of a hit.  After all, when talking about property compromise is everything.

Without further ado I would like to introduce a stunning three bedroom mid-terraced house on Glebe Street that is in phenomenal condition.  The property has come to the market with Snapes Estate Agents for the fantastic, and very fair price of £155,000.  It has three double bedrooms, a stunning bathroom with a roll-top bath, a very modern dining room and kitchen and a large beautifully paved garden.  I believe that this property would rent out for £775pcm in its current condition, with no works required at all.  This would net you a very healthy yield of 6% and I am sure that you would have people queuing up to rent this property at this price.

I shall let you have a look at the pictures, following the Rightmove Link below, but if you have any queries or questions please do feel free to contact me in the Julian Wadden Stockport Exchange Branch on 0161 474 8668 or stockportlettings@julianwadden.co.uk.

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Free Business Class to be held at Stockport Library

On Monday 26th June between 18.30pm and 20.00pm, Stockport Library are hosting a free business class. Wendy Breakell from Break In to Business will be running the class which is aimed at people who want to be self employed but don’t know which area of work to best hone their skills. The talk will be followed by a Q&A.

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The Fairey Band return to The Plaza this weekend

The Fairey Band return to their home town at the Plaza this June and their programme will include Tchaikovsky’s 1812 Overture, which combines the bands technical prowess with spectacular cannon effects. Founded in 1937, the band have had great success, including being crowned champions 16 times at the British Open. It will be a great day for any music fans out there.

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Household sizes in our area

By having a look at the average number of people per property, we can actually tell quite a lot about the area. Most areas of the country have between two and four people living in the average home. This is obviously a function of whether the area is popular with families or singletons. But it also shows population density with inner city areas having higher numbers of people per property.

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Average prices of houses & flats by year

This column chart shows the relative average sold prices of flats and houses selling in the last eight years in our area. It doesn’t account for different sizes of houses or flats but because we’re looking at annual figures any fluctuations should smooth themselves out.

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The Highway’s are the latest area of investment by Stockport Council

As part of the ‘Investing in Stockport’ initiative, Stockport Council have started a programme of repairs to the roads across the Stockport Boroughs. It is part of a 100 million pound investment to improve roads and footpaths over a 9 year period. Work has already taken place in areas such as Cheadle Heath, Edgeley, and The Heaton’s North. The whole initiative provides further evidence of the Council’s commitment to making Stockport great again.

For more details see here 

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Buy to Let deal Mac Court Stockport

This is a fantastic investment property which is brand new to the market. It is located opposite Stockport College, within walking distance of bus and train links in to Manchester City centre. We anticipate a monthly rental return of £750 which, based on its Guide Price of £120,000, creates a great annual yield of 7.5%. You will have to be quick if you want to snap this one up! For more details on the property click here.

 

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Music Magpie to move over to Stockport Exchange

The momentum continues to grow at the new Stockport Exchange development as internet giant Music Magpie are the latest firm to sign up to the high spec office space. The company, which allows customers to trade in their unwanted goods for cash, will be moving 50 of their head office employee’s to the new site, whilst also providing themselves with plenty of space to expand their business in the future. Its more great news for the already successful project!

For more details click here.

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Quarterly transaction levels split by type

By looking at quarterly sales charts we can see the volume of properties sold for semi-detached, detached, terraced and flats over the last two years. Whilst people are quite understandably most concerned about house prices, particularly the price of their house, property geeks like us actually look more at sales volumes to take the pulse of the market.

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Which local residents have seen the best house price inflation?

In December 2016, The ONS (Office for National Statistics) reported that house prices across the UK saw a year-on-year rise of 7.2 per cent. These figures are promising for the property market, and if the trend continues, the average home in the UK will increase in value by £22,000 in the next year. But what’s in store for Stockport?

Since 2013, the UK has been experiencing ’strong growth’, and a typical house price is now higher than it was four years ago. Surprisingly, it’s the areas outside of London that have seen the highest growth, with the East of England experiencing price increases of 11.3 per cent in the last year. With the majority of the UK seeing such positive growth signs, the future of the residential property market looks good.

Over the last decade, local prices have seen a rise of 19.5 per cent, equivalent to £2,780 per year. Terraces tell a different story, having seen a rise of £1,050 per year or 8.5 per cent over the period. As the chart shows, all owners have benefitted from price rises, but some more than others.

The hike in house prices indicates good news for current homeowners, but those hoping to take their first steps on the property ladder will need to familiarise themselves with pros and cons of current schemes. There are several government schemes for first-time buyers: Help to Buy, Shared Ownership, ISA’s and Starter Homes.

With the continuing increase in house prices, it will make more sense for some people to rent. This is excellent news for buy-to-let landlords and potential investors thinking about purchasing a rental property. Rental prices have also increased over the last 12 months, with the average rents nationwide up 6.5% with a mean average of £839 per month.

Local area residents thinking of selling their home will be buoyed by the price increases, especially if they have owned their property for a significant amount of time. If you would like to know how much your home is worth don’t hesitate to give us a call. Alternatively, pop into our office for a friendly chat through your options.

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