reddish and tameside property blog

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

how many families are there in sk5?

In SK5 the largest number of people fall into the lifecycle category called ‘Young & Single’ which accounts for 30.2% of the total. This is followed by ‘Younger Families’ (18.9% of the population).

 

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Frobisher Place, Reddish with a potential yield of over 6.5%

This 3 bed terraced grabbed my attention when it came to the market so I decided to let you know about it.

The property is located in the ever popular South Reddish and would command a high rent due to the condition and location. I would expect the property to achieve £650-£675 per calendar month which works out at a yield of over 6.5%. The property is on the market with Reeds Rains and can be found using this link.

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turnover in the context of the bigger picture

The number of sales that take place in an area is an important indicator of the state of the market. In the last year 5.2% of the total private housing stock changed hands in SK5. This compares with 4.8% in the region and 5.2% nationally. That means that the local market is generally as liquid as the national market.

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julian wadden landlords’ workshop 2016!

Julian Wadden are holding their annual Landlords’ workshop on 5th October.

We’ll be there in person if you’d like to discuss the Reddish property market, hope to see you there!

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properties sold by price bands

In the last 12 months, the greatest number of flat sales has occurred in the £0-£100k price band in SK5 (60.3% of all flat sales). The most common price band for houses was £100k-£200k which accounted for 69.9% of all sales of houses. In that period, the proportion of houses selling in the price band £0-£100k was 26.9% (60.3% for flats).

 

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does living near reddish vale technology college affect nearby house prices?

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.

Reddish school

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?

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

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.

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Gorton Road, Reddish with a potential yield of 6.5%

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.

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what’s the story with price trends?

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.

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