The socio-economic profile is a telling measure of the constitution of people in a local market. We have to be careful when talking about the economic profile of local residents because no statistical measure will really illustrate the character of an area. However, we’ve used the governments ‘NS-Sec’ classification data on our area, which defines local residents in those terms.
By looking back over the last eight quarters, it’s quite enlightening to see how average sales prices have changed for individual house types. Obviously the bigger types sell for more, but the quarter-on-quarter changes tell an interesting story.
Bridgfords estate agents have for sale a recently refurbished property on Southcliffe Road in South Reddish. The property is on the market for offers over £140,000 which seems to be an attractive price taking into consideration the location and also the level of works completed inside. From the images available on rightmove the only areas that may need looking at would appear to be the front and rear gardens. I think a rental figure of around £800pcm is very achievable and would provide a yield of just under 7% which is very attractive. I would expect a property like this to attract attention from people searching for a family home and also investors so best to register your interest as soon as possible.
Have you ever wondered how many people buy flats in the local area as opposed to houses? Wonder no longer. We’ve done the analysis, which shows the most recent split as well as two years’ worth of quarterly data. This is useful information for anyone with an interest in the local market because it affects the overall market dynamic.
Spencer Harvey estate agents have for sale on Wordsworth Road in Reddish a two bedroom, semi detached property on the market for £129,950. This property would make a fantastic development opportunity providing an option to either let or sell once completed. Inferred from the pictures available on rightmove the works required all seem to be cosmetic so shouldn’t amount to too much financially. I would expect the property to be worth a re sale value of £150,000 once finished and i would expect the property to let for around £650pcm, the yield achieved would be dependant on the amount of money spent on the refurbishment.
Defining the modern working week in 2018 isn’t a straightforward process. As we embrace technology, the lines between daily commutes to work and working from remote locations become less transparent. From a property perspective, this means people with flexible working patterns can be more selective about the location of their next home. But what does this mean for Reddish?
Situated on the very popular road Thornley Lane North, Purple Bricks have for sale this two bedroom terrace house. The property is on the market with a guide price of £125,000, from the photos i wouldn’t expect the property to require any works being done before it could be put on the rental market, however you may wish to neutralise the decor to appeal to a wider market. I would imagine a property like this would get snapped up fairly quickly for a price between £675pcm and £700pcm in turn providing a yield of between 6.48% – 6.72%.