This chart shows how house prices in the local area have moved over the last seven quarters. We’ve indexed flats, terraces, semi-detached and detached homes so they start at the same point so you can easily see how they’ve moved in relation to one another.
A look at the annual sales charts for the last ten years offers a good indication of market activity within the local area. Patterns are in line with expectations given the nature of our area. While there is nothing too surprising about which type of properties have seen the most transactions, it’s useful to see how the market has performed since just before the credit crunch.
Our friends in the U.S have been chasing the ‘American Dream’ for some time now, yet we Brits don’t really have a moniker for ‘making it’ in the UK. If we were to coin our version of the ‘British Dream’, we imagine it would be celebrated every time someone took their first steps on the property ladder.
First-time buyers play a pivotal role in the UK housing market and represent a key driver of demand. The average age of first-time buyers has been steadily rising over the last few decades as property has been less and less affordable in some parts of the country. However, schemes like shared ownership and Help-to-buy have helped younger people get on the ladder, putting downward pressure on average ages of first-time buyers.
We recently published a ‘Vlog’ about a studio flat in heaton moor which would be coming to the market that we’re really excited about. It’s not often you get an opportunity to purchase a central Heaton Moor flat for less than £100,000!