Here we have a great buy to let opportunity in the heart of Withington! Marketed by Ash Residential for £240,000 the property consists of 4 x 1 bed flats in a period conversion. The annual income is £18,900 per annum giving a yield of 7.8%. Withington is a very popular M20 location and there is a high demand for properties from both professionals and students due to the excellent transport links on Wilmslow Road.
Didsbury Arts festival is a volunteer led multi arts festival celebrating creative culture in Didsbury, through working with local, national and international artists.
This bi-annual event is taking place from 24th June to 2nd July with a theme this year of ‘Roots’. There is a huge variety of events to enjoy such as art exhibitions, story telling, music, film and much much more. Click the link for all the details and enjoy!
The annual summer outdoor theatre shows, by Heartbreak Productions, return to Didsbury with the family performance of ‘Billionaire Boy’ kicking things off.
With performances on Friday 23rd June, Saturday 24th (x 2) and Sunday 25th June – you are welcome to bring a picnic. Premium seating (chairs provided) will be available, but for standard seating you’ll need to take your own chair or blanket.
By having a look at the average number of people per property, we can actually tell quite a lot about the area. Most areas of the country have between two and four people living in the average home. This is obviously a function of whether the area is popular with families or singletons. But it also shows population density with inner city areas having higher numbers of people per property.
Modern two double bedroom apartment located close to the centre of Withington village. Marketed by Philip James Kennedy for £199,950 this property would achieve a rental of £850pcm and give an annual yield of 5.1%.
This column chart shows the relative average sold prices of flats and houses selling in the last eight years in our area. It doesn’t account for different sizes of houses or flats but because we’re looking at annual figures any fluctuations should smooth themselves out.
By looking at quarterly sales charts we can see the volume of properties sold for semi-detached, detached, terraced and flats over the last two years. Whilst people are quite understandably most concerned about house prices, particularly the price of their house, property geeks like us actually look more at sales volumes to take the pulse of the market.
Located close to Burton Road and on the edge of West Didsbury this spacious two bedroom flat would make a fantastic investment opportunity! Marketed by Philip James Kennedy for £149,950 these properties rent for £650pcm giving an annual yield of just over 5%. Service charges tend to be lower on ex-council properties and this flat even comes with its own private garden.
In December 2016, The ONS (Office for National Statistics) reported that house prices across the UK saw a year-on-year rise of 7.2 per cent. These figures are promising for the property market, and if the trend continues, the average home in the UK will increase in value by £22,000 in the next year. But what’s in store for Didsbury?
Since 2013, the UK has been experiencing ’strong growth’, and a typical house price is now higher than it was four years ago. Surprisingly, it’s the areas outside of London that have seen the highest growth, with the East of England experiencing price increases of 11.3 per cent in the last year. With the majority of the UK seeing such positive growth signs, the future of the residential property market looks good.
Over the last decade, local prices have seen a rise of 23.3 per cent, equivalent to £5,180 per year. Terraces tell a different story, having seen a rise of £7,670 per year or 33.6 per cent over the period. As the chart shows, all owners have benefitted from price rises, but some more than others.
The hike in house prices indicates good news for current homeowners, but those hoping to take their first steps on the property ladder will need to familiarise themselves with pros and cons of current schemes. There are several government schemes for first-time buyers: Help to Buy, Shared Ownership, ISA’s and Starter Homes.
With the continuing increase in house prices, it will make more sense for some people to rent. This is excellent news for buy-to-let landlords and potential investors thinking about purchasing a rental property. Rental prices have also increased over the last 12 months, with the average rents nationwide up 6.5% with a mean average of £839 per month.
Local area residents thinking of selling their home will be buoyed by the price increases, especially if they have owned their property for a significant amount of time. If you would like to know how much your home is worth don’t hesitate to give us a call. Alternatively, pop into our office for a friendly chat through your options.
We employ the services of an external referencing agency to ensure thorough checks are carried out on every applicant. These include, full credit checks, employment references, affordability checks and previous accommodation reference. We are also required under the immigration Act to check each applicant has the Right to Rent in the UK. As an agency it is important for us that we find you the right tenant for your property.