reddish and tameside property blog

(covering reddish, dane bank, denton, debdale and gorton)

average cost of home improvements

  • Many home improvements can cost more than the value they add according to new research by buying agent Henry Pryor and GoCompare Home insurance.
  • Improvements such as new flooring and replacing kitchens and bathrooms (the most popular home improvements) are unlikely to yield a profit for many homeowners. At £7,000 the average cost of a new kitchen is twice as expensive as the estimated value it adds to a property.
  • In comparison, energy improvements, such as a new boiler or central heating system, can increase the price of a property by close to 4%, the equivalent to just over £9,000. A new boiler costs around £2,000, providing the householder with a net profit of close to £7,000.
  • While a fresh coat of paint may add little to the value of a property, such improvements undoubtedly encourage prospective buyers through the door.
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immaculate investment property

Reeds Rains Estate Agents have for sale a two double bedroom semi detached property on the market with a guide price of £150,000.

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affordable investment

Reeds Rains Estate Agents have for sale a two bedroom terrace on Wilton Street in Reddish with a guide price of £110,000.

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Breakdown of age bands

The split of the population by age group has a big effect on the local housing market; the demographic profile affects prices, but more importantly the tenure mix and the rates of sales. The patterns you can see here gives you a good insight into the profile of local residents.

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Change in prices over the last three years

This chart shows how the relative prices of the major house types have varied over recent years. By clustering the columns you can see the interesting patterns developing over time.

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Sales by house type over in recent years

The rate at which properties are sold in the market is probably the best indicator of what we in the trade call ‘buoyancy’. In this chart, we show the number of properties which have been sold each year since 2008.

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What would more rate rises mean for Reddish?

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.

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Property Vs Pension

As we grow older, we begin to think about life after work, and begin to imagine how retirement may be for us. One of the biggest considerations for retirement is money and how you are able to fund your retirement.

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