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

Month: December 2016

junior open softball comes to reddish!

If you know anyone that is interested in playing or wants to find out more about playing baseball/softball then Baseball & Softball UK is for them.

Starting 17th January, and running every Sunday 3-4pm at Reddish Vale High School for Juniors in Years 3-6. This is an exciting opportunity to try something new. Open to both boys and girls, all equipment is provided and sessions are run by fully qualified and DBS checked coaches.

Continue Reading

join the community spirit!

If you’d like to give back to the local community why not bob down to Fresh Fire Church. Having recently held a Christmas Extravaganza celebrating local unsung heroes, the church love to give back to SK5.

Why not check out their website for any upcoming events. http://www.freshfirechurch.tv/

Continue Reading

welcome good times manchester tattoo

Opening it’s doors on Tuesday 20th December. Good Times Manchester offers a brand new tattoo studio to Reddish. Tattoo artist Kiel Potter brings his 12 years of experience to the area. Having worked across Europe spending time in Sweden and Spain, Kiel offers all custom work with a big friendly smile. If you’re thinking about getting some new ink and would like to take a look at some of Kiels work why not check out his Instagram or pop down to the studio at 12 Gorton Road, Reddish, SK5 6AE.

Continue Reading

it’s official – letting agents save landlords an average £1,910 per year

A new survey suggests that a letting agent saves a landlord an estimated £1,910 a year.

The result of an investigation into 500 landlords by insurance firm Endsleigh suggests that there are widespread misconceptions among landlords about the value for money offered by letting agents.

Of those landlords suggesting that they could save money by not using agents, the average sum ‘saved’ on fees was £159 per month. However, a new survey suggests that a letting agent saves a landlord an estimated £1,910 a year.

The result of an investigation into 500 landlords by insurance firm Endsleigh suggests that there are widespread misconceptions among landlords about the value for money offered by letting agents.

Of those landlords suggesting that they could save money by not using agents, the average sum ‘saved’ on fees was £159 per month.

However, comparative analysis of the rental income and void periods for those landlords with, and those without, agents suggested that in fact agents saved their clients an average of almost £2,000 each.

Continue Reading
Continue Reading

sales in SK5 by quarters

It is the time of year when we can reflect on how the last four quarters have performed. The adjacent chart splits the total number of sales for all property types into quarters. Not surprisingly, first quarter of 2016 was the strongest quarter with 163 sales (37.8%) in SK5. The last quarter of 2015 saw 127 sales, which equates to 29.5%.

 

Continue Reading

what jobs do people do in SK5?

The percentage of people employed in various industry sectors is often a good indicator of the distinct character of an area. In SK5, the largest number of jobs were in Retail, taking up 18.2% of jobs. Health had the second largest number of jobs with 13.5% of jobs.

 

Continue Reading

SK5 flat and house prices

The last 18 months have seen a seismic shift in the underlying dynamics of the UK economy. While the long term effects of Brexit on property prices remain to be seen, price levels in SK5 remain robust, as the adjoining chart shows. Prices for flats have increased 34.0% since October 2015 and house prices have increased 15.7% since July 2016.

 

Continue Reading

what impact does a good primary school have on SK5?

A property’s desirability is often a popular subject when we are talking to homeowners and local investors. Sure, you will find that Kirsty and Phil are right, and it is all about “location, location, location”, but the savvy property hunter has something else on their minds these days, and that is “education, education, education”.

More and more people searching for a home are looking at a property’s proximity to a good school before signing on the dotted line. If you already have children, the importance of this cannot be taken lightly, while it is also something to think about for those who are planning on starting a family in the near future.

Ofsted report and rank all schools in the UK, with their results having a huge effect on how desirable a school is. Consequently, this has a knock-on effect on demand for nearby housing.

If you look at the league tables, you will see that St Elisabeth’s CofE Primary School is one of the best local primary schools in SK5.

The figures don’t lie: in the last academic year, 79% of year six students hit the nationally expected target of level four and higher in the key areas of reading, writing and maths. It was also found that 21% of pupils hit the “above national average” level five. You can’t argue with a low pupil to teacher ratio either. St Elisabeth’s CofE Primary School has an average class size of 23.9, which means more teacher attention for each pupil and a greater chance of child progression.

These excellent results have impacted both local schools and property prices. The 250m zone around St Elisabeth’s CofE Primary School has an average sold property price of £124,200 in the third quarter of 2016, whereas 500m away the average sold property price was £114,200, a 8.0% premium.

school-prices

It is not quite the same story for secondary schools but there are good reasons for this. Your average secondary school is large, much larger than a primary school, so it takes in more pupils every year. This means that its catchment zone spans further than primary school’s catchment zones. Parents do not need to live so close to a secondary school to be assured a place for their child.

The other issue is that according to the London School of Economics, the difference between the top and bottom 25% of secondary schools is not quite as dramatic as the top and bottom 25% of primary schools. A good primary school in SK5 is potentially going to have far more of an impact on a child than a good secondary school.

Continue Reading

reddish landlords and tenants : what does the tenant fee banning order mean for you?

• Tenant Fees set to banned within 12 to 18 months
• Rents due to rise as those fees passed to Landlords
• Landlords won’t be worse off – and neither will tenants or agents

With our new Chancellor of the Exchequer revealing a ban on tenant fees in his first Autumn Statement on Wednesday what does this actually mean for Reddish tenants and Reddish landlords?

The private rental sector in Reddish forms an important part of the Reddish housing market and the engagement from the chancellor in Wednesday’s Autumn Statement is a welcome sign that it is recognised as such. I have long supported the regulation of lettings agents which will ensconce and cement best practice across the rental industry and, I believe that measures to improve the situation of tenants should be introduced in a way that supports the growing professionalism of the sector. Over the last few years, there has been an increasing number of regulations and legislation governing private renting and it is important that the role of qualified, well trained and regulated lettings agents is understood.

Great News for Reddish Tenants

So, let’s look at tenants … this is great news for them, isn’t it? Well before you all crack open the Prosecco, read this …

Although I can see prohibiting letting agent fees being welcomed by Reddish tenants, at least in the short term, they won’t realise that it will rebound back on them.

First up, it will take between 12 and 18 months to ban fees, as consultation needs to take place, then it will take an Act of Parliament to implement the change. A prohibition on agent fees may preclude tenants from receiving an invoice at the start of the tenancy, but the unescapable outcome will be an increase in the proportion of costs which will be met by landlords, which in turn will be passed on to tenants through higher rents.

Published at the same time as the Autumn Statement, hidden in the Office for Budget Responsibility’s Economic and Fiscal Outlook on the Autumn Statement (The Office for Budget Responsibility being created by Government in 2010 to provide independent and authoritative analysis of the UK’s public finances), it said on Wednesday …

“The Government has also announced its intention to ban additional fees charged by private letting agents. Specific details about timing and implementation remain outstanding, so we have not adjusted our forecast. Nevertheless, it is possible that a ban on fees would be passed through to higher private rents”

The charity Shelter and Scotland

Scotland banned Letting Fees in 2012. The charity Shelter have been a big voice in persuading and lobbying the Government since it managed to persuade the Scottish Parliament to ban fees in 2012. On all the TV and radio shows at the moment, they keep talking about their Independent Research, which they said showed that,

“renters, landlords and the industry as a whole had benefited from banning fees to renters in Scotland. It found that any negative side-effects of clarifying the ban on fees to renters in Scotland have been minimal for letting agencies, landlords and renters, and the sector remains healthy.”

Going on,

“Many industry insiders had predicted that abolishing fees would impact on rents for tenants, but our research show that this hasn’t been the case. The evidence showed that landlords in Scotland were no more likely to have increased rents since 2012 than landlords elsewhere in the UK. It found that where rents had risen more in Scotland than in other comparable parts of the UK in 2013, it was explained by economic factors and not related to the clarification of the law on letting fees”

.. yet the devil is in the detail….

Only yesterday Shelter were quoting this Research from December 2013 to say rents never went up following the tenant fee ban in Q4 2012. I have read that research and I agree with that research, but it was published three years ago, only 12 months after the ban was put into place.

I find it strange they don’t seem to mention what has happened to rents in Scotland in 2014, 2015 and 2016…because that tells us a completely different story!

What really happened in Scotland to rents?

I have carried out my research up to the end of Q3 2016 and this is the evidence I have found;

In Scotland, rents have risen, according the CityLets Index
by 15.3% between Q4 2012 and today

(CityLets being the equivalent of Rightmove North of the Border – so they know their stuff and have plenty of comparable evidence to back up their numbers).

When I compared the same time frame, using Office of National Statistics figures for the English Regions between 2012 and 2016, this is what has happened to rents

• North East 2.17% increase
• North West 2.43% increase
• Yorkshire and The Humber 3.21% increase
• East Midlands 5.92% increase
• West Midlands 5.52% increase
• East of England 7.07% increase
• South West 5.82% increase
• South East 8.26% increase

• London 10.55% increase

….and let me remind you about Scotland … 15.3% increase.

fees-graph

Are you really telling me the Scottish economy has outstripped London’s over the last 4 years? Is anyone suggesting Scottish wages and the Scottish Economy have boomed to such an extent in the last 4 years they are now the Powerhouse of the UK? Because if they had, Nicola Sturgeon would have driven down the A1 within a blink of an eye, to demand immediate Independence.

So what will happen in the Reddish Rental Market in the Short term?

Well nothing will happen in the next 12 to 18 months … its business as usual!

Continue Reading