In the residential property world, the most important macroeconomic indicator we’re obsessed with is interest rates. Interest rates are the main tool the government uses to cool down the market when it shows signs of overheating. They have a massive impact on the housing market because they determine what your mortgage costs every month.
Some people rattle around in their home like two beans in a can whilst others are packed in like sardines in a tin. There is a formula, created by the Office for National Statistics which gives the occupancy rating of each home. This number shows whether a property has the ‘right’ number of rooms given the number of people living there. This shows the picture in our local housing market.
The last few years have been something of a rollercoaster ride for property markets up and down the country and our area is no different. Here we show how prices of different house types have changed relative to one another over time.
In some parts of the country, the split between a house and flat sales is very extreme while elsewhere there is more of a balance. It primarily comes down to the nature of the area and how densely populated it is. Rural, semi-rural and suburban areas are dominated by houses whereas urban districts are awash with flats. The chart shows the picture in our area.
When it comes to selling your home, a significant amount of your home’s resale value will depend on what’s happened to the Stockport market as a whole. Here average sales values have risen by 9.4 percent over the last ten years. However, there are several tactical decisions you can make to push up the final price.
More great news as Stockport is ranked as the fastest growing economy in the North West, once again highlighting our town’s position as a leading business location.
The UK Powerhouse study is produced by Irwin Mitchell and the Centre for Economics and Business Research (Cebr). It provides an estimate of GVA growth and job creation within 45 of the UK’s largest cities 12 months ahead of the Government’s official figures. The latest report revealed that Stockport was the top location in the North West in terms of GVA growth during the last quarter of 2017. In contrast, Manchester and Greater Manchester recorded GVA growth rates of 1.2%, while Liverpool only registered growth of 0.7%.
The study also considered the future prospects for all of the major conurbations in the UK, with Stockport expected to once again register growth of 1.3% .
The profile of car ownership is a great signal of the practical needs of residents in a local market. Most households have a car, but the number owned varies enormously based on the type of area. For example if you live in a one bedroom flat in a city you’re much less likely to own a car than if you live in a commuter suburb.
Moving has been referred to as the third most stressful event in life, after divorce and the death of a loved one. But it’s no walk in the park for your dog either! Things no longer look, sound, or smell familiar, and he picks up on your stress level too. Some dogs regress to some of their puppy behaviors, some show signs of illness, and in the worst-case scenario, a dog may go missing or become injured while exploring his new surroundings. The following tips will help ease the transition for your pup so he will be safe and secure in his new home.
Plan ahead by updating your dog’s ID tag to show your new address, and if he is microchipped, update your address with its registry. Ideally, you will have already chosen a veterinarian in your new neighborhood and have found out if there are any region-specific vaccines your dog may need.
The way you handle moving day itself is key. Even if you use a moving company, keep all your dog’s belongings, such as his bed, toys, and bowls, with you. Familiar scents will help him feel more at home, so hold off on washing these items. Unpack them as soon as you get to your new house and put them in the same places they were in your old home. So, if his food bowl used to be in the kitchen, you’ll put it in the new kitchen as well. While unpacking your things, watch for any potentially dangerous items like chocolate or cleaning supplies your dog might have access to.
Stick to your dog’s previous feeding and walking schedule. This will go a long way in helping him feel comfortable. If you’re unable to stay home the first few days following a move, consider arranging for someone to visit your dog each day to ease his anxiety and to walk him to burn some energy.
Speaking of burning energy, prioritize play! Make sure your furry friend is getting plenty of attention and exercise. Keep him busy with fun activities like playing with Kongs and other food-dispensing toys. Amid all the unpacking, schedule play breaks for both of you. Find nearby dog-friendly locales and take a walk in the neighborhood to familiarize your dog with his new surroundings and neighbors. Don’t add additional stress. If your dog hates getting his nails trimmed, now is not the time! If you’ve been thinking about changing his diet, hold off for a little while.
While dog-proofing your home is important, backyard safety cannot be emphasized enough. Check your yard for plants that are poisonous to dogs. Never leave your dog in the yard when you’re not home. Even when you are home, you’ll want to keep an eye on him. All dogs need a safe, fenced-in area. Proper fencing that keeps your dog in and other animals out, as well as keeps him safe from the attention of passersby, is priceless.
Be on the lookout for signs of stress, such as diarrhea, vomiting, loss of appetite, or anxiety. Ask your vet about calming medication or try some natural alternatives from your local pet store. If these symptoms continue, you’ll want to take him to your vet to make sure nothing else is going on.
Congratulations on your new home and for being such a responsible pet owner! Just as your dog has shown you his devotion, you’ll want to show him extra patience during this transition. Stay calm, reinforce positive behavior, and take time to have fun together. By following these tips and focusing on safety, you and your dog will soon feel right at home.
We wanted to take a look at how overall average prices of flats and houses have changed in the last eight months. This is quite a short time frame so there’s a fair bit of volatility from month to month but the story it tells is an interesting one nonetheless.
This chart has indexed the levels of transactions for flats and houses over the last eight quarters. That means it takes the actual level of sales at the start of the period and converts them to 100, and then you can see the relative changes running up to the present. It should be noted that the smaller the number of properties, the more extreme the volatility.