(covering marple, the bridge, mellor and compstall)

Category: property market news

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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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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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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method of commute

Commuting patterns are a significant barometer of the profile of people in a property market. For example in areas where most people travel to work by car, there tend to be more even property price distributions across the local market. On the other hand when people mostly travel by train or underground, there are big price hotspots around the stations.

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index of house prices by property type

Over the last twelve months we’ve seen pretty strong performance in the local market. We wanted to see how different property types have performed, so we indexed the values at the start of the period. Property data updates quite slowly, so we’ve estimated the last 3 months.

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monthly sales rates by house type

This chart nicely reveals how sales levels have played out over the last seven months in our area. We’re looking at a relatively tight area over relatively short periods of time, so you don’t get the nice smooth patterns you’d see using annualised analyses or at higher levels of geography. The patterns however, are very revealing.

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common myths about the local property market

Has someone who has just sold their home ever told you about the ‘golden rules’ you should abide by to get a quick sale? Perhaps you have heard comments like, ‘catch the property season’, ‘spend money to make money’ and ‘price high and accept low’. Unfortunately, achieving the optimum sale requires you to navigate highly changeable market conditions.

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