This is a very rare opportunity to purchase a three bedroom family home in didsbury which needs extensive refurbishment work. Marketed by Joules in Heaton Mersey this property is on at £275,000 and would rent for £1,250PCM once renovated. This area of Didsbury is extremely popular with families due to its close proximity to the village and local schools, so it would make a great buy to let for a landlord who wasnt afraid to take on the work needed!
Since the first quarter of 2015, average sales prices of terraces in Didsbury have increased by 5.5%, which represents the best performance of all property types. The next best performers were semis, which saw an increase of 2.4%, followed by flats. The poorest performance came from detached properties. These of course are averages.
These apartments always generate loads of interest and let in a matter of days! Marketed by Jordan Fishwick for £190,000, you could expect a rental of £850PCM, which would give an annual yield of just over 5%. Situated close to vibrant Burton Road and the Metrolink this stunning apartment would be well worth a look and makes a great investment opportunity!
Sunday 31st July sees the next very much talked about West Didsbury Makers’ Market. This market has quickly established itself as a not to be missed monthly event, and you certainly don’t want to miss out on the corker planned for you on the last Sunday of July!
Recently featured in ‘The Times’ as ‘Boutique of the Week’, Steranko is currently having its summer sale with up to 70% off its unisex gear.
Fashionable but not faddish, contemporary but not clichéd, Steranko is packed with the kind of clothes, shoes and accessories that simply make you feel marvellous, and leave your friends feeling jealous.
Its always great to see new independent businesses open in Didsbury village, and even better when they are our very own neighbours. After a comprehensive design and development program, Caramello’ is poised to open shortly and has got all our interest peaked.
Selling ice cream and posh bakery products, its going to be hard to resist the smells wafting past our door.
Opening just two doors down from us on Wilmslow road is this exciting new independent venture selling ice cream and pastries has already got our mouths watering.
According to the last census, the most common type of property in Didsbury is a three bedroom house, which accounts for 51.6% of the total. This is 0.6% lower than the regional average but 5.1% higher than the national average. The next most common type of property is a four bedroom or more house (34.3%) followed by a two bedroom flat (7.0%).
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 2,893 sales in Didsbury. Flats accounted for the largest number of sales (1,177), followed by semis (947), then terraces (642) and detached properties accounted for the fewest sales (127).
A very unique opportunity here, to purchase a property in a prime Didsbury location for just £60,000!! Marketed by Jordan Fishwick, this compact studio apartment is situated in an excellent location close to both Didsbury and West Didsbury villages. The apartment would rent for £450PCM giving an amazing annual yield of 9%!!
As I’m sure you’ve noticed, things have changed a lot for first-time buyers recently. Government schemes and mortgage requirements seem to change every week, so would-be homeowners have got to keep up. However, for those in the know, there are a lot more options in Didsbury than there used to be.
The first challenge awaiting would-be home-owners these days is the deposit for the mortgage. The bigger the deposit, the better the chances of getting a great deal. The minimum required deposit is around 5%, so with an average home in Didsbury valued at £272,600 locals will require a deposit of at least £13,600. That’s quite a lot of saving up, given that average annual salaries in the region are £25,700.
The Government has stepped-up to help make saving easier. The newly introduced ‘Help To Buy ISA’ will hopefully make saving for a first home quicker and less painful. Save £200 and the Government will contribute £50 each time.
The Government has also made it easier for first-time buyers to purchase new-build properties. With the ‘Help To Buy’ scheme, they still need a deposit of around 5%, but then the Government loan a further 20% interest free for the first five years, meaning they only need a mortgage for 75% of the property price. In London the loan is up to 40%. After year five they have to pay interest at 1.75% of the shared equity loan at the time they purchased the property, rising each year after that by the Retail Prices Index (RPI) plus 1%. Sell up or pay the mortgage back and they’ll be asked to repay the Government’s share of the loan, along with a share of any increase in the home’s value.
Interestingly, of the 146,500 people who took advantage of the ‘Help To Buy’ scheme between the 1st of April 2013 and the 31st of December 2015, only 14 of them were in Didsbury. Low figures are usually down to either low house building rates or local prices being above the £600k ceiling for ‘Help To Buy’.
Another option for buying a first home in Didsbury is shared ownership, which allows a would-be homeowner to part-buy part-rent their property. Back in 2011, there were 95 shared ownership properties in Didsbury and given the national growth rate there should be around 112 now.
Under this scheme, owners start off with buying anything from 25% to 75% of their home, usually with a mortgage, and paying a monthly rent to a housing association, who will usually give the occupier the chance to increase their ownership share, known as ‘staircasing’.