(covering marple, marple bridge, mellor and compstall)

Category: property market news

Why it’s a good idea to make your move in Marple before 2019

The benefits of owning a home in Marple and Marple Bridge 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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Section 21: Changes in England from October

The Deregulation Act 2015 made changes to prevent ‘retaliatory evictions’ and all new tenancies starting on or after 1 October 2015 had to adhere to new guidelines as to when and how a landlord can serve a Section 21 notice.

This October all remaining Assured Shorthold Tenancies (ASTs) will be subject to these rules, regardless of their start date.

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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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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 our property market, timing is everything; here’s why.

We can’t remember a time when there’s been more excitement about the Marple and Marple Bridge 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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LIST YOUR RENTAL PROPERTY

  • While many people enjoy their summer holidays, agents up and down the country are gearing up for a very busy few weeks.
  • Analysis by Dataloft Rental Market Analytics on tenancies started over the past three years reveals that more than a fifth of the year’s tenancies are expected to begin in the next two months.
  • Over the next few weeks demand from students looking for accommodation before term starts, recent graduates starting new jobs and families seeking to move before the next school term will combine.
  • With more than two fifths of tenancy agreements being for 12, 24 or 48 months, many existing tenancies come up for renewal at this time of year and tenants may choose to move, further boosting demand for rental properties.
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HOUSE PRICE PEAKS IN OUR NATIONAL PARKS: ALL PARKS

  • 1.6 million hectares of England and Wales, that’s 11% of total land area falls under the official designation of a National Park, and this week, 22–29th July, is National Park’s week.
  • Over 400,000 people live in the thirteen National Parks that span England and Wales. The first parks, the Peak District, Lake District, Dartmoor and Snowdonia were formed in 1951, the latest, and most highly populated, the South Downs officially designated in 2010. There are also two National Parks in Scotland – Loch Lomond and The Trossachs and the Cairngorms.
  • Property prices across all the National Parks, with the exception of the Broads, attract a price premium compared to their local region. The average price of a property across six National Parks is over 50% higher than the regional average.
  • Average prices across the parks vary considerably. Properties in the New Forest are the most expensive (just shy of £625,000), compared to Northumberland and Snowdonia where average prices are below £200,000.
  • And what of the future? Just last month an ambitious vision to create a National Park in the West Midlands which would span seven cities and create hundreds of miles of green space was unveiled; while a year from now London is set to be declared the world’s first National Park City, vibrant with nature and people enjoying the great outdoors.
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WHY DO 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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