Category: property market news

new ‘green walk’ development

Following the success of the St James Park development here in the heart of Didsbury village, PJ Livesey Group have started to release new homes on the Green Walk development situated off Nell Lane, West Didsbury. Phase one comprises of a stunning collection of 3, 4 & 5 bedroom new build family homes with a selection of preview properties available to see on the developers website.http://www.pjlivesey-group.co.uk/register-interest-siemens-didsbury/ If you are in the market for a new build home here in Didsbury, but need to sell your existing home in order to proceed, we can help!

Here at Julian Wadden Didsbury we offer a free no obligation sales valuation where we can advise on a recommended marketing and pricing strategy. Our sophisticated marketing coupled with the structured launch approach ensures your existing property realises its true potential, achieving the very best price in the appropriate time scale, enabling you to pursue your new home! Contact a member of our team on 0161 434 4311 or call into our high street branch to learn more.

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BACK TO SCHOOL

  • The new school year is underway for over 10 million children across England and Wales and school catchments rate highly for many choosing a home. How much more are home buyers prepared to pay to live close to an Ofsted rated outstanding school?
  • An analysis of property sales across England and Wales (excluding London) over the last year reveals a 10% price premium associated to homes close to an outstanding primary school and 17% price premium associated to an outstanding secondary school.
  • Properties located within one mile of an outstanding primary school sold for, on average, £22,686 more than properties within one mile of other schools, the price premium for secondary schools was £37,558.
  • Detached houses attract the largest price premium, with buyers here having to find an extra £90,000+ to live within one mile of an outstanding school.
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Why it’s a good idea to make your move in Didsbury before 2019

The benefits of owning a home in Didsbury are huge. While it’s true that across the country homeowners are benefitting from steady and reliable capital growth, here the rewards are even greater. The core reason is that the area we live in is popular and just keeps getting more so.

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WORKING FROM HOME

Working from home is increasingly popular, with almost a third of UK employees who use computers for their job, working remotely either every day or at least once a week. Those over 45 are most likely to work from home every day or almost every day.

Remote working has the potential to alter the interior of our homes. Will there be a premium for new homes with built-in office space? Home-owners already weigh-up the costs and benefits of converting bedrooms and extending upwards or outwards to create work space.

Homes in areas with superfast broadband are already in high demand. A recent poll found that 55% of UK house buyers would reject their ideal house if speeds were below 100 Mbps, with many willing to pay a premium.

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In the Didsbury property market, timing is everything; here’s why.

We can’t remember a time when there’s been more excitement about the Didsbury property market. We’re having more and more conversations with the buyers and sellers we advise who realise that they’ve ‘timed their runs’ perfectly. As we’ve seen many times before; as the market turns a corner, momentum starts building very fast.

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Manchester Postcodes

I read an article this week which I wanted to share with you as it highlighted the most lucrative postcodes for buy to let landlords in Manchester, with some even offering the best yields in the country.

M14 offered the 5th highest yields in the country closely at 10.1% followed by M19 which covers parts of Levenshulme, Burnage, Heaton Mersey, Heaton Chapel and Reddish which made it into the top 10 with an average yield of 8.6%.

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MORTGAGE DEBT: A REGIONAL BREAKDOWN

  • £873 billion – the total value of mortgage debt across England, according to the latest data released by UK Finance. That equates to just over £130,000 for every owner occupier mortgaged household across England.
  • The level of mortgage debt is rising, up 2% on a year ago, and 8% higher than four years ago. That’s not surprising given stretched affordability and the increasing number of longer-term mortgages. Over half of all first-time buyer mortgages are issued for a period of 30 years or more according to the 2017/18 English Housing Survey, up from just 40% in 2015/16.
  • The level of debt per household is highest across the capital, where property prices are close to twice the England average. Less than half of all households across London are owner-occupiers, just 22% of households are owner-occupiers with a mortgage. This compares to 65% and 30% respectively across the rest of England.
  • To date in 2018, 95% of all new mortgages issued for new homes and remortgages have been on fixed-rate deals. While the average interest rate has increased slightly, from 2.09% in January to 2.2% in May, this remains low compared to historic standards and any interest rate rise is unlikely to cause significant waves across the market.
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WHY TO EXISTING HOME OWNERS MOVE HOUSE?

  • There are 14.4 million households across England who own their own home, either outright or with a mortgage. This is 63% of all households.
  • Of these, the latest results from the Survey of English Housing estimate that 576,000 (4%) are planning to move within the next six months.
  • Moving up the ladder to a larger home is the primary motivation for existing owners, although not for those who own their home outright. Almost a third of those who own outright are looking to downsize.
  • As the new school year gets underway shortly, moving home to be in particular school catchment areas is a motivation for almost 10% of owners with a mortgage.

 

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Commuting distances

Measuring commuting distance might seem a little obscure but it actually offers a particularly good insight into the character of any local housing market. For example, commuter towns tend to really come alive at the weekends but are quieter in the week. Areas where most people work locally will have a stronger community feel day-to-day.

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Fluctuations in prices over recent years

It won’t come as any massive shock that houses are generally worth more than flats in our area. However, when it comes to the movements over time, these two broad types of property do not always behave similarly. Here we see how flats and houses have varied in price.

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