August 8, 2016
This is the time of year that pupils here in Reddish nervously wait for their GCSE and A-Level results. This made us think about the effect of schools on property prices in our area. As you all know, there are many factors that contribute to the value of your home besides its size and location. Things like crime rates, transport links, shops and general amenities all have a noticeable effect on the value of your home. However, proximity to a good local school is one of the biggest ancillary factors, especially for parents. When it comes to buying, education, rather than location, is more often than not the deal-maker for this particular demographic.
Did you know that for some house hunters, the search for a property actually begins on the Ofsted website, rather than with the local agents? It’s no coincidence that property portals have invested heavily in displaying the proximity and performance of schools on each property listing. Some local councils also publish information on schools listed as outstanding, giving the names of streets that fall within the catchment area.
It’s hard to say exactly when school league tables began to have such a bearing on property prices, but there is growing evidence of a strong link between a good school report and the demand for housing close to it. In fact many property hunters are willing to overlook the shortcomings of the property itself and spend beyond their original budget to be in the catchment area of a good school.
The link between prices and school performance is strongest for primary schools because of their smaller catchment areas, which get smaller the better the school performs. However, secondary schools also have a big effect.
We decided to take a look at the properties surrounding the best performing schools across the whole country. We found that on average, properties which were within 1km of a good secondary school sold for 8.4% more than the rest of the housing stock in 2015.
Perhaps more interestingly, these same properties had increased in value by 5.2% more than the rest over the last decade. Now of course there are other factors at play here, but the impact of the schools will certainly be a major factor.
But how big is this impact in SK5? Well, one of the best performing schools in the area for 2014-15 Key Stage 4 results was Reddish Vale Technology College. In the 12 months up to the start of May 2016, the average price of a properties within a 1km catchment of the school had risen by 16.8%. In comparison, average prices within 5km only rose by 8.0%, which is 8.8% less. Interesting, don’t you think?
August 1, 2016
This property was recently reduced and caught my eye as a decent buy to let so I decided to feature it in today’s blog.
The property seems to be in good condition and should need little or no work to be ready for any potential tenant, location is also good being in the centre of reddish. We have let properties on this street for years and never had any issues finding tenants or getting reasonable rents.
With a purchase price of £105,000 and rental income of £575 per calendar month this would give you a return of just over 6.5%%. The property is on the market with Reeds Rains, click on the below link for more information.
July 26, 2016
I came across this 3 bed property whilst browsing Rightmove this morning and thought it was worth a mention for anyone looking for an investment. The property looks in decent condition and would be ideal for anyone not wanting the hassle of refurbishing a property.
This property should see a rental income of around £650 per calendar month and basing the purchase price at £120,000 would give you a reasonable yield of 6.5%.
The property is located in North Reddish close by to the only train station in Reddish which is likely to attract tenants. The property is on the market with Edward Mellor and can be found on Rightmove using the below link.
July 22, 2016
Since the first quarter of 2015, average sales prices of detached properties in Reddish have increased by 4.4%, which represents the best performance of all property types. The next best performers were semis, which saw an increase of 2.0%, followed by terraces (1.8%). The poorest performance came from flats. These of course are averages.
July 21, 2016
Personal trainer Shaun O’Brien, a local resident, is developing a great reputation in his field and has been recommended to us many times lately. He does personal training within the gym, but also does group classes at various locations including Anchors Away at Houldsworth Mill. His webpage provides all the info you need, including plenty of testimonials from happy clients!
July 21, 2016
Feeling adventurous or looking for the perfect team bonding day? Well, on September 18th, Reddish Vale farm are hosting the Tough Udder challenge! It is a 5k course and consists of 15 to 20 obstacles including a water slide! The event also includes a childrens obstable course, as well as food and drink! Plus a percentage of the entry cost goes to charity!
July 21, 2016
The Carousel pub, on Reddish Road in South Reddish, is currently celebrating all things pig and cider, within their Summer festival. The festival is live now and will be for the following few weeks, and includes a special ‘pig’ based menu and a wide selection of ciders. It sounds like the perfect way to make the most of this warm weather we are having!
July 20, 2016
According to the last census, the most common type of property in Reddish is a three bedroom house, which accounts for 54.8% of the total. This is 2.5% higher than the regional average and 8.3% higher than the national average. The next most common type of property is a two bedroom house (24.5%) followed by a four bedroom or more house (11.5%).
July 18, 2016
The volume of sales in a given area is a powerful measure of the vitality of local housing markets. In the last three years there have been 1,282 sales in Reddish. Terraces accounted for the largest number of sales (650), followed by semis (452), then flats (121) and detached properties accounted for the fewest sales (59).
July 18, 2016
This property recently came to the market and grabbed my interest so I decided to feature it in today’s blog.
Doer-upper is the first thing that comes to mind with this property and it is going to need a considerable amount of work to be in a “lettable” condition, however this shouldn’t be a problem for any seasoned investors. The property is in a good location for transport links to Stockport and the city centre with bus routes and the train station located just 5 minutes’ walk away.
I would estimate works to cost around £10,000 and assuming you could get the property for £90,000 this would put your total spend at £100,000, With a rental income of £575 per calendar month this would give you a return of 6.9%. The property is on the market with Reeds Rains, click on the below link for more information.