marple and the bridge property blog

(covering marple, the bridge, mellor and compstall)

STAMP DUTY ABOLISHED IMMEDIATELY for first time buyers!

If you haven’t already heard, first time buyers will NOT pay stamp duty up to £300,000 with immediate affect. We are still waiting on clarification if this applies to people who have already exchanged. This could save some first time buyers up to £5,000, which will certainly help people moving onto the property ladder.

As this will now bring more first time buyers out of the wood work it will increase demand at the lower end of the market place. The ripple effect of this will see demand for people to move up the property ladder, so larger family homes will also see the benefit.

This is great news to our local market and the UK property market as a whole, which is much needed due to the constant negative news stories surrounding the property market recently and Brexit causing uncertainty.

The other good news is funding for new builds will be supplemented by £44bn which should fuel a very positive housing market in 2018 and going forward.

If you would like any advice on how this may effect you directly please do not hesitate to contact me personally.

 

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A property with the potential to achieve a 6% yield

NEW TO THE MARKET! is this two bedroom semi-detached property situated on Kingsway, Bredbury. This property is in need of renovation but once works are complete you would look to achieve a potential 6% yield. Being situated within close proximity to the M60, public transport links and local amenities this property is ideal for first time renters or a small family.

The property offers to the ground floor; an entrance hall, the lounge which spans over 21 feet in length and also has dual aspect windows and a separate kitchen area. The first floor reveals two well proportioned double bedrooms and a family bathroom. Externally the property offers off road parking at the front with a garden and the rear garden which is fenced off would be a great area to enjoy the sun.

The property is in need of refurbishment to modernise but once works are complete you would look to get a potential 6% yield, this is based on £650 per calendar month. Located in a central location in Bredbury and within close proximity to all local amenities and public transport links this property will be very popular and won’t be on the market long.

Currently on the market with Bridgfords, Stockport at £130,000.

http://www.rightmove.co.uk/property-for-sale/property-51721908.html

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Mission Christmas – Cash for Kids with Key 103

There are 4 million children who live in poverty across the UK, and for these families buying Christmas presents is a luxury they can’t afford. That’s why Key 103 has joined up with Cash for Kids and launched Mission Christmas. We are delighted to announce that Julian Wadden are taking part in Key 103’s Cash for Kids 2017. All 5 of our offices at Stockport Exchange, Didsbury, The Heatons, Reddish and Marple will be used as drop off points over the coming weeks.

In 2016 over 2.9m was raised through cash and presents, making Christmas special for 60,800 local children, and they are aiming to achieve more this year!

All we need are any presents – new and unwrapped. Gifts suitable for children aged between 0-18. The addresses for all 5 branches are as follows:

Julian Wadden Didsbury: 764b Wilmslow Road, Didsbury, M20 2DR
Julian Wadden Heatons: 14 Moorside Road, Heaton Moor, SK4 4DT
Julian Wadden Marple: 2 The Hollins, Marple, SK6 6AY
Julian Wadden Reddish: 16 – 18 Gorton Road, Reddish, SK5 6AE
Julian Wadden Stockport: 81-83 Wellington Road South, Stockport, SK1 3SL

If you want to find out more and get involved then you can do so by clicking here

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Coming Soon! A three bedroom terrace in the heart of Marple

Coming soon to the market is this three bedroom terrace property situated on Church Street, Marple. Finished to a modern standard and offering three well proportioned bedrooms this property is in the centre of Marple village boasting a great location!

This property offers to the ground floor; a cosy and welcoming lounge, the kitchen/dining area offers plenty of worktop and storage space and integrated fridge/freezer, there is also a handy porch at the rear great for taking off your muddy shoes and coats. The first floor reveals three well proportioned bedrooms, two of which are doubles and a further single. The modern fitted family bathroom completes the floor.

Externally the property offers a private rear courtyard.

The location of this property sets it apart from others, being so close to all local amenities, Marple train station and public transport links. Because of its great location and attractive finish this property will attract the attention of first time renters or small families. The potential yield you would look to achieve is 5.1%, this is based on £725 per calendar month.

Entering the market with Julian Wadden, Marple at £170,000. Please contact the Marple branch on 0161 427 0755 for more details or to arrange a viewing.

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Breakdown of housing stock

Home sizes are a vital gauge of the character of housing stock in a locality. The chart here might surprise you a bit as lots of people think that everyone lives in the same kind of home as them but there are large minorities of people living different types of home.

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Prices by type in the last few months

An analysis of monthly changes in house prices should always be taken with a pinch of salt, particularly when looking at a very local area. To try to strip out some of the nuances, we’ve displayed flats and houses separately but you’ll see the usual amount of volatility.

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Total number of sales by quarter

The quarterly sales chart for the local area provides a detailed overview on how the market has performed in the last couple of years. Here we show the total number of property transactions every quarter. This is a useful way to look at how market liquidity has changed since the previous year, whilst accounting for seasonality.

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Steps Involved in Buying Your First Home

On the face of it, buying a home is considered to be a complicated and worrying process, but it does not need to be.

We can guide you through the process and can offer expert mortgage advice specific to your circumstances.

Buying a home takes a number of weeks, as there are a number of different factors that need to be taken into account.

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Keeping money aside for expenses

Renting a property is as simple as purchasing the property and letting it out, you need to ensure the property in maintained and that you money set aside to cover these expenses. Although lenders will typically require the rental income of your investment property to be at least 125% of your mortgage payment amount, this doesn’t always mean that the property will generate positive cash flow or give sufficient net profit to cover all the expenses of maintaining the rented property over the typical 15 to 20-year ownership.

As well as regular and one-off maintenance expenses, allowances need to be made for times when there may be no rental income. Tenants may stop paying their rent and the property is sometimes empty between tenancies, and you still need to be able to cover the mortgage and other costs during this time.

It is therefore vital that you budget properly to ensure that the investment is worthwhile and not going to cost you money month-on-month, before you commit to buying a property to let.

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Three big reasons to be positive about the Marple and The Bridge market

If you venture online, pick up a paper, or watch the news, any mention of the property market in the UK comes with a measure of doom and gloom these days. However, interest rates are still very low and are not likely to rocket up, so it’s not a remotely dangerous time to buy or sell a home. Here are our three reasons homeowners should be optimistic about the prospects for the property market in SK6.

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