Edwards Way will show you the way! A great BTL investment…

Exciting news!

This week’s buy to let property is on Edwards Way, Marple. This 2 bedroom end of terrace property is set in a spacious corner plot with off road parking and offers no onward chain. This well presented property offers a well-proportioned lounge/dining room with a nicely furnished kitchen. Upstairs there are two double bedrooms with more than enough space for a small family along with a well presented bathroom with a 3-piece suite. The external space is where this property shines, with the property being on a corner plot there are lawned areas that wrap around all aspects of the property and gated off road parking at the side.

The potential yield for this property is 5.2%, this is based on £750 pcm, the capital growth is what this property has to offer however, the location of the property is great for transport links into nearby surrounding areas, taking only 35 minutes to get into the centre of Manchester from Rose Hill train station. The property is also in walking distance for Marple College, Marple Hall High School and the newly furbished Rose Hill Primary School and local amenities. Currently on the market with Reeds Rains, Marple at £170,000

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sales in SK6 by quarters

It is the time of year when we can reflect on how the last four quarters have performed. The adjacent chart splits the total number of sales for all property types into quarters. Not surprisingly, last quarter of 2015 was the strongest quarter with 256 sales (32.4%) in SK6. The first quarter of 2016 saw 242 sales, which equates to 30.6%.

 

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tenure patterns in marple

In SK6 the most common property tenure is owning with a mortgage (23,333 households which is equal to around 46%). This figure also includes shared ownership. The next more common tenure is those lucky people who own their home outright, accounting for 17,400 households or 35%.

 

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SK6 flat and house prices

The last 18 months have seen a seismic shift in the underlying dynamics of the UK economy. While the long term effects of Brexit on property prices remain to be seen, price levels in SK6 remain robust, as the adjoining chart shows. Prices for flats have increased 10.3% since April 2016 and house prices have increased 11.7% since December 2015.

 

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Today’s best BTL mortgage deal!

At 75% LTV 1.99% – 2yr Discount – £1,395 terms and conditions apply.

For more details and advice about BTL mortgages please contact Gail Norris our BTL mortgage expert on 0161 427 0755

 

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Three bed semi ideally located in Romiley close to local amenities!

Exciting news! this week’s property is on Waterloo Road, Romiley. It is a 3 bedroom semi-detached property set in a very generous plot with off road parking for 2 vehicles and a single detached garage. This freehold property is a great family home which has been well looked after and would need minimal work doing to it, with 2 reception rooms and an extended kitchen which will be more than enough space for the modern day family. Upstairs it has two double bedrooms and a good sized single bedroom and a well presented family bathroom with a 3 piece suit. Outside, the property benefits from well-maintained front and rear gardens. The rear garden which is bigger than average provides a paved patio area and lawn.

The potential yield for this property is 5.8%, this is based on £825 pcm. The potential for capital growth is one of this property’s big drawing points, we have seen that the Romiley area over the last couple of years has become a more and more popular area with especially families, this is due to the ‘Good’ rated schools within the area and great transport links to Manchester Piccadilly and the M60 being a ten minute drive away.  It is perfect for all aspects of the family.

Currently on with Bridgfords, Marple at £169,950 click below for more details.

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what impact does a good primary school have on SK6?

A property’s desirability is often a popular subject when we are talking to homeowners and local investors. Sure, you will find that Kirsty and Phil are right, and it is all about “location, location, location”, but the savvy property hunter has something else on their minds these days, and that is “education, education, education”.

More and more people searching for a home are looking at a property’s proximity to a good school before signing on the dotted line. If you already have children, the importance of this cannot be taken lightly, while it is also something to think about for those who are planning on starting a family in the near future.

Ofsted report and rank all schools in the UK, with their results having a huge effect on how desirable a school is. Consequently, this has a knock-on effect on demand for nearby housing.

If you look at the league tables, you will see that Ludworth Primary School is one of the best local primary schools in SK6.

The figures don’t lie: in the last academic year, 96% of year six students hit the nationally expected target of level four and higher in the key areas of reading, writing and maths. It was also found that 47% of pupils hit the “above national average” level five. You can’t argue with a low pupil to teacher ratio either. Ludworth Primary School has an average class size of 21.6, which means more teacher attention for each pupil and a greater chance of child progression.

These excellent results have impacted both local schools and property prices. The 500m zone around Ludworth Primary School has an average sold property price of £275,100 in the third quarter of 2016, whereas 5km away the average sold property price was £234,000, a 15.0% premium

.ludworth-school

It is not quite the same story for secondary schools but there are good reasons for this. Your average secondary school is large, much larger than a primary school, so it takes in more pupils every year. This means that its catchment zone spans further than primary school’s catchment zones. Parents do not need to live so close to a secondary school to be assured a place for their child.

The other issue is that according to the London School of Economics, the difference between the top and bottom 25% of secondary schools is not quite as dramatic as the top and bottom 25% of primary schools. A good primary school in SK6 is potentially going to have far more of an impact on a child than a good secondary school.

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marple landlords and tenants : what does the tenant fee banning order mean for you?

• Tenant Fees set to banned within 12 to 18 months
• Rents due to rise as those fees passed to Landlords
• Landlords won’t be worse off – and neither will tenants or agents

With our new Chancellor of the Exchequer revealing a ban on tenant fees in his first Autumn Statement on Wednesday what does this actually mean for Marple tenants and Marple landlords?

The private rental sector in Marple forms an important part of the Marple housing market and the engagement from the chancellor in Wednesday’s Autumn Statement is a welcome sign that it is recognised as such. I have long supported the regulation of lettings agents which will ensconce and cement best practice across the rental industry and, I believe that measures to improve the situation of tenants should be introduced in a way that supports the growing professionalism of the sector. Over the last few years, there has been an increasing number of regulations and legislation governing private renting and it is important that the role of qualified, well trained and regulated lettings agents is understood.

Great News for Marple Tenants

So, let’s look at tenants … this is great news for them, isn’t it? Well before you all crack open the Prosecco, read this …

Although I can see prohibiting letting agent fees being welcomed by Marple tenants, at least in the short term, they won’t realise that it will rebound back on them.

First up, it will take between 12 and 18 months to ban fees, as consultation needs to take place, then it will take an Act of Parliament to implement the change. A prohibition on agent fees may preclude tenants from receiving an invoice at the start of the tenancy, but the unescapable outcome will be an increase in the proportion of costs which will be met by landlords, which in turn will be passed on to tenants through higher rents.

Published at the same time as the Autumn Statement, hidden in the Office for Budget Responsibility’s Economic and Fiscal Outlook on the Autumn Statement (The Office for Budget Responsibility being created by Government in 2010 to provide independent and authoritative analysis of the UK’s public finances), it said on Wednesday …

“The Government has also announced its intention to ban additional fees charged by private letting agents. Specific details about timing and implementation remain outstanding, so we have not adjusted our forecast. Nevertheless, it is possible that a ban on fees would be passed through to higher private rents”

The charity Shelter and Scotland

Scotland banned Letting Fees in 2012. The charity Shelter have been a big voice in persuading and lobbying the Government since it managed to persuade the Scottish Parliament to ban fees in 2012. On all the TV and radio shows at the moment, they keep talking about their Independent Research, which they said showed that,

“renters, landlords and the industry as a whole had benefited from banning fees to renters in Scotland. It found that any negative side-effects of clarifying the ban on fees to renters in Scotland have been minimal for letting agencies, landlords and renters, and the sector remains healthy.”

Going on,

“Many industry insiders had predicted that abolishing fees would impact on rents for tenants, but our research show that this hasn’t been the case. The evidence showed that landlords in Scotland were no more likely to have increased rents since 2012 than landlords elsewhere in the UK. It found that where rents had risen more in Scotland than in other comparable parts of the UK in 2013, it was explained by economic factors and not related to the clarification of the law on letting fees”

.. yet the devil is in the detail….

Only yesterday Shelter were quoting this Research from December 2013 to say rents never went up following the tenant fee ban in Q4 2012. I have read that research and I agree with that research, but it was published three years ago, only 12 months after the ban was put into place.

I find it strange they don’t seem to mention what has happened to rents in Scotland in 2014, 2015 and 2016…because that tells us a completely different story!

What really happened in Scotland to rents?

I have carried out my research up to the end of Q3 2016 and this is the evidence I have found;

In Scotland, rents have risen, according the CityLets Index
by 15.3% between Q4 2012 and today

(CityLets being the equivalent of Rightmove North of the Border – so they know their stuff and have plenty of comparable evidence to back up their numbers).

When I compared the same time frame, using Office of National Statistics figures for the English Regions between 2012 and 2016, this is what has happened to rents

• North East 2.17% increase
• North West 2.43% increase
• Yorkshire and The Humber 3.21% increase
• East Midlands 5.92% increase
• West Midlands 5.52% increase
• East of England 7.07% increase
• South West 5.82% increase
• South East 8.26% increase

• London 10.55% increase

….and let me remind you about Scotland … 15.3% increase.

fees-graph

Are you really telling me the Scottish economy has outstripped London’s over the last 4 years? Is anyone suggesting Scottish wages and the Scottish Economy have boomed to such an extent in the last 4 years they are now the Powerhouse of the UK? Because if they had, Nicola Sturgeon would have driven down the A1 within a blink of an eye, to demand immediate Independence.

So what will happen in the Marple Rental Market in the Short term?

Well nothing will happen in the next 12 to 18 months … its business as usual!

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winter wonderland

The festivities extend in to Marple Bridge with the annual Winter Wonderland taking place on Saturday 3rd December 1-4pm.

Organised by the Marple Bridge Association there is sure to be plenty of activities to keep both the adults and Children amused! There will be an array of stalls offering local, handmade gifts and refreshments including Mulled wine! There will also be a band, rides and a tombola. The Marple Bridge Association are looking for tombola prizes to be donated, these can be dropped off at Marple Bridge Post Office.

Please note Town Street will be closed to all vehicles from 11am-5pm.

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christmas cracker

It’s that time of the year again which means the Marple Christmas Cracker is round the corner!

The festive, fun filled weekend will be taking place Friday 2nd to Sunday 4th December.

Organised by the Marple Business Forum and celebrating its 9th year the cracker has become one of the town’s biggest events of the year.

This year is sure to impress! Kicking off the festivities on Friday evening Santa himself will be arriving on New Horizons narrow boat at Marple Social and Forces Club on Limekiln Lane.

On Saturday 3rd there will be an array of festive activities including the traditional Christmas Street Markets selling lots of tasty refreshments and gift ideas.

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