marple and marple bridge property blog

(covering marple, marple bridge, mellor and compstall)

3x apartments for sale, marple bridge!

This came on the market with us the other day a great way to get into the buy to let market or just to increase your portfolio!! … A selection of well presented and unique apartments which are all currently rented on short hold tenancy agreements which is currently yielding £24,600 pa, with the potential yield of £26,640.

There are three apartments being sold collectively, two 2 bedroom apartments which both come with their own parking space, a further three bedroom apartment also comes with allocated parking and the block benefits from visitors parking also.

Give me a call at the office on 0161 427 0755 or click on the link if you want further info!

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what would brexit mean to the 17,200 property owners in marple?

At the time of writing, a £10 bet on the good people of the UK voting to leave the EU would yield a profit of £22.50, whereas the same bet on staying-in would return just £3.30. For those of you who don’t regularly have a flutter, that means the likelihood of Brexit is very slim. But then again that’s what the pollsters and bookies said about a Tory majority at the last election.

So if we believe the bookies, it seems the most likely impact of this referendum on the Marple property market will be fairly negligible. There could be some mild economic uncertainty followed by a return to business as usual following a vote to stay in. In fact, even this mild uncertainty will come to be seen as nothing compared with the rush to snap up buy-to-let properties before the April 2016 stamp duty hike and subsequent flood of properties onto the rental market.

But what would an ‘out’ vote mean for the 17,200 homeowners of Marple or even the landlords of the 1,869 private rented properties? Well we think it all comes down to how reliant each local market is on buyers who work in the financial services industry. Some commentators claim that in the event of Brexit, the large global banks could pull out of the UK and relocate to somewhere within the EU, most likely Frankfurt. That would result in an exodus of relatively high income workers from the market, and it is these people who have been instrumental in putting upward pressure on house prices since the 1980’s.

As we all know, people working in financial services are mainly concentrated in South East England, within commuting distance to the City of London and Canary Wharf. However, there are also provincial outposts in the north of England, particularly in Leeds.

In Marple, there are 1,122 people working in financial services, equal to 4.7% of all jobs. In the context of the national picture, that puts it in the top half of all areas in terms of the concentration of financial services jobs. So the bottom line is that in relative terms, Marple is fairly reliant on the financial services industry. Consequently, Marple’s property market would be moderately exposed in the event of Brexit.

However, there is a broader economic consequence of Brexit which would pose a menace to the SK6 and UK housing markets -interest rate rises. Theoretically,this could see the cost of mortgagesgrow swiftly, pricing many out of themarket and generally making lifedifficult for buyers. However mostbuyers take fixed rate mortgagesand two-thirds of landlords buywithout a mortgage, so this would dampen the effects in the short-term. It’s also conceivable that inflation would ramp up substantially if the price of imports went up, and if the Bank of England responded by increasing interest rates we might get into the situation we were in in the late 1980’s when mortgages were sky high, but inflation was eroding the debt.

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the samuel oldknow

Walked past here the other day and it was buzzing – a great addition to Marple’s social scene.
The Samuel Oldknow opened in March this year offering a wide selection of drinks, with board games and a great atmosphere.
Check out what they’re up to next…
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average marple house price up 4% at the end of last year

Marple homeowners and buy-to-let landlords in SK6 should be pleased to know that prices have risen recently.

Our latest analysis of the Marple property market shows that month-on-month, SK6 house prices have increased by 4%, whilst the year-on-year figures showed that house prices in SK6 have decreased by 16.8% in the year, taking the average house price in the Marple area to £157,000.

It gets even more interesting when we look at the last few months of 2015 and see the patterns that seem to be emerging.

• December 2015 – a rise of 4%

• November 2015 – a fall of 7.1%

• October 2015 – a fall of 3.8%

• September 2015 – a fall of 4.5%

The lack of new building developments has been the biggest factor contributing to the SK6 property values being 27.3% higher compared to 2009, and an eye watering 246.8% higher than in 1995.

Until the Government addresses this issue nationally, and allows more properties to be built, things will continue to get worse. The UK population grows at just under 500,000 people a year, whilst the country is only building 152,400 properties a year – no wonder demand is outstripping supply.

We firmly believe the property market in SK6 (and the country as a whole) is changing its attitude towards homeownership, which in turn will have major ramifications for the homeowners and buy-to-let landlords of SK6 alike. Back in the late 20th century, getting on the property ladder was everything. However, since the late 1990’s, we as a country (in particular, the younger generation of would-be homeowners) have slowly started to change their attitude to homeownership. We are moving to a more European model, where people choose to rent in their 20’s and 30’s (meaning they can move freely and not be tied to a property), then inherit money in their 50’s when their property owning parents pass away, allowing them to buy property themselves.

Some of the highest levels of home ownership are in Romania at 96.1%, Hungary at 88.2% and Latvia at 80.9% (hardly European economic powerhouses). In Western Europe, Spain has homeownership levels at 78.8% and Greece has 74.0% (and we know the economic woes of these countries well). At the other end of the scale, whilst we in the UK stand at 64.8% homeownership (and interestingly in Marple is 78.4%), in Europe’s powerhouses only 52.5% of Germans and 44.0% of Swiss people are homeowners.

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sales levels in marple have increased

The number of sales in a given area is a powerful measure of the buoyancy of local housing markets. There were a total of 878 transactions in SK6 in the last calendar year. This is an increase of 30.8% over the year. In comparison, there was an increase of 35.2% in the North West, and an increase of 29.4% across England & Wales.

 

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resident jobs mix

Sales as a percentage of total housing stock available is a useful measure of an area’s turnover. Of the total private stock in SK6, 4% of properties changed hands in the last calendar year. This is 0.2% more than in the North West, where the turnover was 3.8%, but 0.2% less than the whole of England & Wales (4.1%).

 

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a great investment finished to an exceptional standard

This great buy to let purchase is on with Lawler & Co for £165,000. It’s in fantastic condition throughout and looks as though it has undergone a full refurb.

The condition will attract an array of tenants and would let very quickly. This is why with an expected rent of £725 PCM and 5.27% gross yield, it would make a sound investment.

Continue for the Rightmove link to see more!

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turnover in context of the bigger picture

Sales as a percentage of total housing stock available is a useful measure of an area’s turnover. Of the total private stock in SK6, 4% of properties changed hands in the last calendar year. This is 0.2% more than in the North West, where the turnover was 3.8%, but 0.2% less than the whole of England & Wales (4.1%).

 

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huge potential on station road

Station Road continues to be poplar with buyer and renters alike! And this one will surely not disappoint!

In need of some renovation, but once finished you should see a rent coming in of £750 pcm along with a great capital return. On with Julian Wadden, get in on our open house at offers over £150,000.

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a btl gem in the village!

Brilliant location, right in the heart of Marple village this is a great BTL and should rent out for £675 pcm giving an impressive 6.48% yield. Doesn’t look like it needs much work doing to it so you should be able to rent it out straight away! Currently on at £125,000 with Country Homes.

Continue for the Rightmove link!

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