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

Month: May 2016

average reddish house prices up 13.4% last year

Reddish homeowners and buy-to-let landlords in SK5 should be pleased to know that prices have risen recently.

Our latest analysis of the Reddish property market shows that month-on-month, SK5 house prices have increased by 6.8%, whilst the year-on-year figures showed that house prices in SK5 have increased by 13.4% in the year, taking the average house price in the Reddish area to £117,100.

It gets even more interesting when we look at the last few months of 2015 and see the patterns that seem to be emerging.

• December 2015 – a rise of 6.8%

• November 2015 – a fall of 0.6%

• October 2015 – a fall of 1.5%

• September 2015 – a rise of 0.5%

The lack of new building developments has been the biggest factor contributing to the SK5 property values being 15.4% higher compared to 2009, and an eye watering 210.2% higher than in 1995.

Until the Government addresses this issue nationally, and allows more properties to be built, things will continue to get worse. The UK population grows at just under 500,000 people a year, whilst the country is only building 152,400 properties a year – no wonder demand is outstripping supply.

We firmly believe the property market in SK5 (and the country as a whole) is changing its attitude towards homeownership, which in turn will have major ramifications for the homeowners and buy-to-let landlords of SK5 alike. Back in the late 20th century, getting on the property ladder was everything. However, since the late 1990’s, we as a country (in particular, the younger generation of would-be homeowners) have slowly started to change their attitude to homeownership. We are moving to a more European model, where people choose to rent in their 20’s and 30’s (meaning they can move freely and not be tied to a property), then inherit money in their 50’s when their property owning parents pass away, allowing them to buy property themselves.

Some of the highest levels of home ownership are in Romania at 96.1%, Hungary at 88.2% and Latvia at 80.9% (hardly European economic powerhouses). In Western Europe, Spain has homeownership levels at 78.8% and Greece has 74.0% (and we know the economic woes of these countries well). At the other end of the scale, whilst we in the UK stand at 64.8% homeownership (and interestingly in Reddish is 57.2%), in Europe’s powerhouses, only 52.5% of Germans and 44.0% of Swiss people are homeowners.

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dementia friendly cafe opens its doors at st agnes church

Wednesday 4th May saw the opening of a new Dementia Friendly Café in Reddish, at St Agnes church near the Dolphin fish ‘n’ chip shop. The pop up café, which is available for all Dementia sufferers and their carers, will open every Wednesday between the hours of 12pm and 3pm and includes lunch for an entrance fee of £3. It is a great idea and a fantastic addition to our area!

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resident jobs mix

In SK5, the largest proportion of residents (13.6%) are of ‘Elementary occupations’ (Elementary). This is 2% higher than the average in the North West. Next most common in SK5, with 12.9% of all residents, are ‘Administrative and secretarial occupations’ (Admin.). This is 1.2% higher than the average in the North West.

 

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sales levels in reddish have increased

The number of sales in a given area is a powerful measure of the buoyancy of local housing markets. There were a total of 433 transactions in SK5 in the last calendar year. This is an increase of 44.4% over the year. In comparison, there was an increase of 35.2% in the North West, and an increase of 29.4% across England & Wales.

 

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turnover in the context of the bigger picture

Sales as a percentage of total housing stock available is a useful measure of an area’s turnover. Of the total private stock in SK5, 3.3% of properties changed hands in the last calendar year. This is 0.5% less than in the North West, where the turnover was 3.8%, and 0.9% less than the whole of England & Wales (4.1%).

 

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reddish south features on channel 4 show

Reddish South Station has featured on a channel 4 programme hosted by celebrity Paul Merton. The programme see’s Paul visit nationwide ‘request stop’ stations and delve in to their histories. Members of The Friends Of South Reddish Station were invited to join in too! It is great exposure for us and well worth a watch (It can be found on channel 4’s 4oD now)!

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family fun day – reddish vale farm 30th may

If you are struggling for ideas on how to keep the kids entertained this coming Bank Holiday, why not head down to Reddish Vale Farm on May 30th for their Family Fun Day? The event will run between 12pm and 4pm and will include several attractions, including a bird of prey show, face painting, bouncy castles, and a tractor train ride!

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hobson street – won’t be around for long!

I saw this property come to market recently and thought it was worth putting it out there for all you potential landlords.

This house would make a fantastic first time investment for anyone considering getting in to the property market and would also be a good addition to any landlords with a portfolio. The property looks in reasonable condition and is in a good location. These sort of houses are the bread and butter in Reddish and always rent well. We have let properties on this street in the past and with a rental income of around £550 per calendar month you would see a yield of over 7%. The property is on the market with purple bricks, click on the below link for more information.

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