By having a look at the average number of people per property, we can actually tell quite a lot about the area. Most areas of the country have between two and four people living in the average home. This is obviously a function of whether the area is popular with families or singletons. But it also shows population density with inner city areas having higher numbers of people per property.
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 seasoned landlord’s portfolio. The property looks in relatively good condition and by the look of the photographs will only require minimal work to be “lettable”.
These sort of houses are the bread and butter in Reddish and always rent well. We have recently let a 3 bed on this street for £695 per calendar month, so you should easily be able to achieve £600 – £625 for this property and based on a purchase price of £100,000 this would give you a yield of up to 7.5%.
The property is up for sale with Edward Mellor, click on the below link for more information.
This column chart shows the relative average sold prices of flats and houses selling in the last eight years in our area. It doesn’t account for different sizes of houses or flats but because we’re looking at annual figures any fluctuations should smooth themselves out.
Fancy learning something new? On the 4th July Lydia Meiying will be holding a class to show you how print design on to bags. Your choice whether you keep it for yourself or give it as a gift. Lydia will show you how to create some truly fantastic and unique prints. The class costs £25 and is sure not to disappoint so makesure you get yourself booked. Great opportunity to meet some new friends and take some with you.
Ever fancied entering your pooch into a Dog Show? Well now is your chance with the Reddish Vale High School Farm Fun Dog Show. It cost just £2 to enter and all are welcome the event is on 16th July at Reddish Vale High School. There will be 10 Dog Show Classes:
There are some great opportunities for parents and children to go out and have fun learning with amazing events which are a part of the Festival of learning. Events still to come are Beauty and the Beast mask making, Kick start your creative writing and Fabulous hearts fabric broaches. Events are hosted in various location in Reddish, Brinnington and Stockport.
By looking at quarterly sales charts we can see the volume of properties sold for semi-detached, detached, terraced and flats over the last two years. Whilst people are quite understandably most concerned about house prices, particularly the price of their house, property geeks like us actually look more at sales volumes to take the pulse of the market.
In December 2016, The ONS (Office for National Statistics) reported that house prices across the UK saw a year-on-year rise of 7.2 per cent. These figures are promising for the property market, and if the trend continues, the average home in the UK will increase in value by £22,000 in the next year. But what’s in store for Reddish?
Since 2013, the UK has been experiencing ’strong growth’, and a typical house price is now higher than it was four years ago. Surprisingly, it’s the areas outside of London that have seen the highest growth, with the East of England experiencing price increases of 11.3 per cent in the last year. With the majority of the UK seeing such positive growth signs, the future of the residential property market looks good.
Over the last decade, local prices have seen a rise of 9.7 per cent, equivalent to £1,090 per year. Terraces tell a different story, having seen a rise of £980 per year or 9.5 per cent over the period. As the chart shows, all owners have benefitted from price rises, but some more than others.
The hike in house prices indicates good news for current homeowners, but those hoping to take their first steps on the property ladder will need to familiarise themselves with pros and cons of current schemes. There are several government schemes for first-time buyers: Help to Buy, Shared Ownership, ISA’s and Starter Homes.
With the continuing increase in house prices, it will make more sense for some people to rent. This is excellent news for buy-to-let landlords and potential investors thinking about purchasing a rental property. Rental prices have also increased over the last 12 months, with the average rents nationwide up 6.5% with a mean average of £839 per month.
Local area residents thinking of selling their home will be buoyed by the price increases, especially if they have owned their property for a significant amount of time. If you would like to know how much your home is worth don’t hesitate to give us a call. Alternatively, pop into our office for a friendly chat through your options.
We employ the services of an external referencing agency to ensure thorough checks are carried out on every applicant. These include, full credit checks, employment references, affordability checks and previous accommodation reference. We are also required under the immigration Act to check each applicant has the Right to Rent in the UK. As an agency it is important for us that we find you the right tenant for your property.