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

Month: November 2016

sicilian street food restaurant opens it’s doors

Following the huge success at their Denton restaurant, Mamma Mia have opened their second branch in Houldsworth Square – A Tavola. It has been open less than a week and is already the talk of the town, having received fantastic initial reviews. A Tavola is a Sicilian Street Food café which also offers a take-away deli and authentic Italian Ice Cream.

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christmas fair at st elisabeth’s church

If you are stuck for plans this Saturday, the 26th November, then St Elisabeth’s Church are having their Christmas Fair. The Fair is free to attend and will be running between the hours of 11am and 2pm. It’s a great way to get the family in to the Christmas spirit, not that they will need it!

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distance travelled to work

The distance travelled to work in a given area is an indicator of the area’s transportation links. It can also show if an area has job opportunities locally. In SK5, 75.0% of the local workforce travel less than 10km to get to work. This is 12.8% higher than the average in the North West region and 18.1% higher than the national average.

 

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the reddish christmas light switch on event

Always a popular calendar entry, the Reddish Christmas light switch on, at Houldsworth Square, has now announced it’s date. It will take place on Thursday 8th December, running from 12pm to 5pm, and is always a well received, Christmassy event for all the family. 

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A cracking buy to let with a potential yield of up to 6.5%

I came across this immaculate property with a very modern interior and thought it would make a fantastic buy to let investment.

The décor of this property is sure to attract plenty of interest and with its close proximity to Houldsworth Square should make it a great buy to let purchase. This is a property for anyone who wants a quick and easy buy to let, from the look of pictures you would need to do little or no work and can look to find a tenant as soon as you have the keys. I would expect the property to achieve around £700 per calendar month which would be a yield of just over 6.5%. The property is being marketed by Philip James at £125,000 and can be found using this link.

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sales remain steady in sk5

The changes in stamp duty and the Brexit vote have made the last 12 months an interesting one. There have been a total of 616 sales and we can see that volumes have increased by 26.1% since August 2015.

 

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patterns in price bands emerging in sk5

Over the last year, every property that was sold in SK5 has fallen into one of seven price bands. The adjacent bar chart illustrates this interesting pattern which shows that the £100k-£200k price band had the largest number of sales (339), followed by the £0-£100k price band (149).

 

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local wealth bands in sk5

In SK5 the majority of households are classified as “getting started” (34.5% of all households). The next biggest wealth band is “more comfortable” (27.5% of all households).

 

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property prices in sk5 have risen by 168% since 2000

You would be forgiven for thinking that Nobel Prize winner Bob Dylan was talking about the UK property market when he sang, “the times, they are a changin'”. As agents in SK5, we have seen it all in the property market. But one overarching fact is the rise of local property prices, which have seen a significant increase of 168% since 2000.

Figures show that moving up the property ladder, or getting on it in the first place, is not that easy. However, there are certain choices you can take to make the process much smoother, particularly if you listen to advice from a good agent. The young person’s dream of owning their own property is still very much within reach.

Compromise is key; sometimes it is a good idea to take stock and really think about what it is that you want from a property. SK5 is popular with homeowners and tenants, which indicates that location is still the number one factor for people moving home. Yet in our experience, some people are willing to look further afield to find a cheaper, more suitable property.

If you are already on the property ladder, moving up it is not as arduous as many initially think. Increasing house prices can actually benefit homeowners like you, assuming that you have paid off a fair amount of your mortgage. Average property prices in SK5 are now worth £120,800, which means if you bought the property 10 years ago, it would have increased by an impressive £7,800.

Some of you will be tenants who are not yet on the property ladder, but don’t worry as there is still hope. Mortgage lenders have started to loosen their purse strings, with many of them offering up to 95% mortgages. The government also offer several schemes making it easier for first-time buyers to purchase a home, including Right to Buy, shared ownership and the Help To Buy ISA.

average-reddish

Landlords have reasons to be cheerful, with an element of younger people in SK5 choosing to rent rather than buy. There are certainly benefits to renting, including the ability to simply call the landlord if there are any issues around your rental home, allowing you to save on large repair costs. The lifestyle of a renter also provides flexibility, which is very important to some people.

It is harder for young people to save for a deposit in an age where Apple launch a brand new product every six months, or the latest HDTV is readily available. Renting is a choice, and we are developing a mindset more akin to the Europeans with regards to it. In fact, the fascinating figures show the percentage of households privately rented in SK5 have risen from 6.4% in 2001 to 12.0%, according to the last census.

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