reddish and tameside property blog

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

expected market volatility

Looking at a monthly breakdown of activity over the last 12 months we can see some interesting patterns in Reddish. While there was an expected amount of volatility from month-to-month, transactions were 20.3% higher for all property types at the start of the period than at the end.

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patterns emerging in price bands

Over the last year, every property that was sold in Reddish has fallen into one of six price bands. We’ve
displayed them as a pie chart to illustrate quite how interesting this pattern is. Perhaps unsurprisingly the
price band which represents the biggest slice of the cake was the £100k-£200k price band (64.9%; of all sales).

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Harrogate Road, Reddish with a potential yield of over 6%

This 2 bed semi got my attention when the asking price was recently reduced.

This property is a good size two bed with plenty of outside space which would be ideal for tenants with small families, it is also right in the centre of reddish which makes it ideally placed for local schools and transport links. The property should easily command a rental income of £600+ Per calendar month giving a return of 6%-6.5%

The property is on the market with Main & Main in Cheadle and can be found using this link.

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what effect is north reddish station having on the price of your home?

In SK5, the streets where homes sell fastest and command the highest price-per-square-foot aren’t always the most lavish, they’re the ones that are the best-connected. After all, there’s a reason why the most popular property programme on TV is called Location, Location, Location.

As your local agents, we’re often asked all sorts of questions regarding our market, but the most common question is always “which is the best part of Reddish to live in these days?”, particularly from newcomers. Of course, the answer is different for each client because of things like their family situation, age and hobbies etc. But one of the primary requirements for most buyers is ease of access to public transport. Many of us regularly use public transport so we don’t want to live a million miles away from our local station if we have to commute into work each day.

Public transport is actually becoming increasingly important as the costs associated with car travel continue to rise and roads are becoming more congested. This has resulted in a huge surge in rail travel. In fact, in Britain, passengers made 1.32 billion train journeys in 2010 (according to the Association of Train Operating Companies), a rise of 37% in a decade and the most since the 1920s.

Location has a huge effect on the price and saleability of a home, and in our experience houses and flats close to a train station always sell and rent quickly. To illustrate the point we did some spatial interpolation of property price data, also known as number crunching! Our analysis showed that properties within 1km of North Reddish Station attract a premium of 7.6% over those 2km away, with current average sold price sitting at £134,000 compared with £124,500. This means that for every 250m you live closer to the station, the average property price rose by £2,400. If that doesn’t convince you that stations matter, we don’t know what will.

north-reddish-station-graph

It affects the rental market, too. If you’re an investor looking for a buy-to-let property, or a renter looking for your next home, the distance to and from the station is extremely important. One of the first things renters do when searching for somewhere to live is look at the nearest station’s proximity to the property. That’s why Rightmove displays the distance to the station alongside each listing. Ideally renters want a speedy commute to their work or university, and they want an even speedier walk from their home to the nearest station.

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Wallwork Street, Reddish with a potential yield of over 6.5%

I saw this property come to market today and thought it was worth putting it out there for all you landlords and potential landlords.

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 landlord’s portfolio. The property looks in good condition and is in a good location. These sort of houses are the bread and butter in Reddish and always rent well. We have let properties on this street in the past and with a rental income of around £575 per calendar month which would give a yield of over 6.5%. The property is on the market with Ian Tonge, click on the below link for more information.

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Gorton Road, Reddish with a potential yield of over 7%

This property came to the market and immediately screamed buy to let investment. We have sold and Let two similar properties close to this one and they have only taken a week or so to find tenants for.

The property looks to be in fair condition and is only a short stroll to North Reddish train station putting it in an ideal location for any young professionals that commute in to the city centre. This property should return a rental income of up to £575 per calendar month which is over a 7% yield. The property is on the market with Edward Mellor and can be found using the link below.

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3 bed semi on Dumbarton Road with a potential yield of 8%

This 3 bed semi got my attention when it came to the market today so I decided to let you know about it.

These properties rent out easily and we have recently let one on this street for £675 per calendar month. The property is on the market for £100,000 and would give a massive return of over 8% which is well above the area average of 6%.

To date there are no internal pictures so I can only assume it is in need of substantial modernisation or repair but if you’re an experienced investor this shouldn’t be a problem. The property is being marketed by Phillip James and can be fund using this link.

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tough udder – places still available!

With only 29 days to go until Reddish Vale Farm hosts the Tough Udder Challenge, excitement is starting to build… and there are still places available! You can now choose to run a 5K or 10K track, either by yourself or in a team. It is set to be a great day for all.

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reddish north end now recruiting new players!

The football season is back up and running and Reddish North End are still looking for players of all ages. If you are interested, get in touch with John the chairman, or follow them on Twitter @ReddishNorthEnd

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