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

Month: September 2016

great opportunity for investor in reddish!

 

Here we have a fantastic opportunity for an investor who likes to put their own stamp on a property. This property is in need of improvements but would make a great buy to let investment.

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do we use our housing stock efficiently?

All housing markets are heavily affected by how efficiently the housing stock is used. Some areas have lots of people in relatively small properties and others have a few people knocking around in very large properties, often empty nesters. This infographic shows what the pattern looks like in Reddish.

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the perfect world project – vote now!

Local resident, Jason Baird, is on the shortlist for a new extreme show and he needs your votes. Jason was born in Gorton and now runs a Karate school from Broadstone Mill in Reddish. He wants to use the cash prize to help local kids and invest in the community, so it is well worth your time.

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reddish vale school – open evening

Reddish Vale High School are hosting their Open Evening 2016 this Thursday 22nd September. It is an opportunity for parents and children alike to visit the school and see what it has to offer, ahead of moving there next year.

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reddish dog show – this sunday!

It’s that time again… the Reddish Dog Show is on this Sunday 25th September from 2pm. Being hosted at Reddish Vale High School, you can register your dog for a number of classes from 1pm. It’s a great day for all the family, especially the dog!

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Birtles Avenue, Reddish with a potential yield of over 7.5%

This property has just come down in price and offers fantastic buy to let potential.

Being located close to the local train station is sure to be a pull for a lot of tenants and having 3 bedrooms will mean it could suit a young professional couple or a small family. Condition wise the property looks in pretty good order but could do with having the walk in shower replaced with a bath. Rental income should be around £625-£650 per calendar month which is over a 7.5% yield. The property is on the market with Sanderson James and can be found using this link.

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expected market volatility

Looking at a monthly breakdown of activity over the last 12 months we can see some interesting patterns in Reddish. While there was an expected amount of volatility from month-to-month, transactions were 20.3% higher for all property types at the start of the period than at the end.

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patterns emerging in price bands

Over the last year, every property that was sold in Reddish has fallen into one of six price bands. We’ve
displayed them as a pie chart to illustrate quite how interesting this pattern is. Perhaps unsurprisingly the
price band which represents the biggest slice of the cake was the £100k-£200k price band (64.9%; of all sales).

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Harrogate Road, Reddish with a potential yield of over 6%

This 2 bed semi got my attention when the asking price was recently reduced.

This property is a good size two bed with plenty of outside space which would be ideal for tenants with small families, it is also right in the centre of reddish which makes it ideally placed for local schools and transport links. The property should easily command a rental income of £600+ Per calendar month giving a return of 6%-6.5%

The property is on the market with Main & Main in Cheadle and can be found using this link.

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what effect is north reddish station having on the price of your home?

In SK5, the streets where homes sell fastest and command the highest price-per-square-foot aren’t always the most lavish, they’re the ones that are the best-connected. After all, there’s a reason why the most popular property programme on TV is called Location, Location, Location.

As your local agents, we’re often asked all sorts of questions regarding our market, but the most common question is always “which is the best part of Reddish to live in these days?”, particularly from newcomers. Of course, the answer is different for each client because of things like their family situation, age and hobbies etc. But one of the primary requirements for most buyers is ease of access to public transport. Many of us regularly use public transport so we don’t want to live a million miles away from our local station if we have to commute into work each day.

Public transport is actually becoming increasingly important as the costs associated with car travel continue to rise and roads are becoming more congested. This has resulted in a huge surge in rail travel. In fact, in Britain, passengers made 1.32 billion train journeys in 2010 (according to the Association of Train Operating Companies), a rise of 37% in a decade and the most since the 1920s.

Location has a huge effect on the price and saleability of a home, and in our experience houses and flats close to a train station always sell and rent quickly. To illustrate the point we did some spatial interpolation of property price data, also known as number crunching! Our analysis showed that properties within 1km of North Reddish Station attract a premium of 7.6% over those 2km away, with current average sold price sitting at £134,000 compared with £124,500. This means that for every 250m you live closer to the station, the average property price rose by £2,400. If that doesn’t convince you that stations matter, we don’t know what will.

north-reddish-station-graph

It affects the rental market, too. If you’re an investor looking for a buy-to-let property, or a renter looking for your next home, the distance to and from the station is extremely important. One of the first things renters do when searching for somewhere to live is look at the nearest station’s proximity to the property. That’s why Rightmove displays the distance to the station alongside each listing. Ideally renters want a speedy commute to their work or university, and they want an even speedier walk from their home to the nearest station.

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