Property types are a handy measure of the shape of the market in a local area. For example, areas with lots of flats tend to be urban in character because there is huge pressure on land. A large number of detached homes means that the area is suburban and not very densely populated.
We know we live in a great area, and because most people agree, demand has driven up house prices. But how do prices in our area stack up in terms of property types? This chart looks at the comparison over the last eight years.
We’ve included this chart to show the relative number of flats and houses selling in the last 11 months in our area. Due to the profile of the housing stock in the area, there’s nothing too surprising here, but it’s interesting to see how the different types of properties contribute to total sales levels.
Stockport Council has won three major bids from the Government’s Housing Infrastructure Fund (HIF) to kick start a new era of town centre living and make the centre an even more desirable place to live, work and play.
The £8.5m grant, which has been won against stiff national competition, will help unlock key brownfield housing sites in Stockport’s town centre. This will open up and enhance previously underused areas of the town and the river Mersey, creating new green spaces, bringing iconic historic buildings back into use, catalysing further development and drawing in new investment.
Subject to further feasibility, the grant will be used to overcome the barriers of infrastructure costs and poor land conditions for Stockport’s new Interchange, the Weir Mill complex and Hopes Carr (Hempshaw Brook), bringing more than 500 new homes which will enhance the town centre and strength the local economy. These developments will be high specification, well connected to public transport and with all the town centre amenities on the doorstep.
Cllr Sheila Bailey, Stockport Council’s Cabinet Member for Communities and Housing, said: “I am delighted that the Council’s bid was successful. This grant, which is very much welcomed, will allow the Council to invest in the infrastructure needed to unlock sites for housing development in Stockport town centre. Stockport needs as much good quality housing in sustainable locations as possible. Such developments not only provide new homes but add to the ongoing regeneration of the town centre.”
The HIF is a £5bn government capital grant programme to invest in council-led projects for the potential building of new homes in areas with the greatest housing demand. This grant will fund key local infrastructure projects such as new roads, flood defences, green infrastructure and land remediation work.
We think your ideal home says a lot about you. If the world were your oyster, would you go for something Victorian, Georgian, a duplex apartment, new build house, or maybe a farm? Given that we live in Stockport, obviously our choices are somewhat limited by reality, but what are the hottest types of property and what does this mean for sellers?
Seth Murphy, of California USA, shares below his DIY tips which could increase your properties value!
Seth writes – When purchasing a home, it’s a good idea to have a long-term goal in mind. Even if you don’t plan on selling now, you never know what life will bring. With that in mind, it’s good to start thinking about long-term equity. What can best increase the value of your home? What remodels and improvements will garner the best return? Not every change will benefit you financially, which is why it’s important to investigate well before you begin your projects. Start by setting a goal-selling price and then decide which projects will best encourage that price.
Landscaping – If you have a garden or yard out front, your house won’t be the first thing a prospective buyer sees – it will be your greenery. You want your garden to look lush, well-groomed and as attractive as possible. Flowering plants and deciduous trees are some of the safest bets you can hedge. It is suggested to use fresh mulch over bare soil or even grass to make your yard look captivating.
Energy efficiency – One growing trend and concern by homeowners is energy efficiency. You may immediately think of replacing your appliances and electronics with energy-friendly alternatives, or even of changing out your light bulbs to more efficient ones. However, you don’t necessarily need expensive replacements to update your home and make it more attractive to buyers. Consider putting in new insulation, which will help keep your home cool in summer and warm in winter without using the heater or air conditioner.
Upgrade your technology – This doesn’t end up being as complicated as it may seem. A simple surround-sound speaker system in the living room, with speakers wired into each room, can be a boon. This way, music can be played from room to room without the occupant having to worry about setting it up as they move about the house.
Repair your roof – If you have missing or broken tiles or shingles on your roof, it can be an automatic turn-off to potential buyers. It may seem intimidating, but, like putting in speakers, it’s easier than it seems. You can replace shingles and tiles, as long as you know what kind you have, as there are different steps to each. There is more work if the tile is at the junction of your roof, known as a valley, but it is still relatively straightforward.
Clear the clutter – Find ways to add storage and organization to your home. It’s thought that as many as 53 percent of individuals have added storage to their homes in the last five years. Not only will you add a potential selling point, but a well-organized home that looks decluttered seems more appealing to potential buyers than one that looks disheveled or disorganized.
If you keep your goal price in mind, then you can better educate yourself on what will be the best projects to help sell your home. If you have an ambitious price, it may benefit you to have more ambitious DIY projects to better increase your chance of profit. Focus on the areas listed to have the best chance at achieving your asking price.
The mix of tenure of properties is a substantial yardstick of the attributes of homes in a local market. One of the best parts of the planning system in the UK is that social housing is heavily mixed in with the private stock so we don’t get large geographical divides between people as is the case in urban France. This also shows how many people are renting, which has gone up nearly everywhere in the last ten years.
This chart shows how prices in the local area compare with those in the region and the national picture. Given our geographical position relative to the national economic centre of gravity, the relative price levels are what we’d expect.
For this month’s market update, we’ve decided to take a look at what percentage of total sales each house type accounts for each quarter. Whilst it doesn’t show the actual number of sales, it’s very useful for seeing what each property type is contributing to the total level of transactions. It also permits year-on-year comparisons, which negate the impact of seasonality.
Outside space has always been a sought-after commodity, whether it’s acres of land or a balcony with pleasant views. Most property searchers have a few items on their list when looking for a new home, with some form of outside space usually near the top. But remember, gardens, balconies and terraces aren’t just eye candy; they also add value to properties.