The mix of tenure of properties is a substantial yardstick of the attributes of homes in a local market. One of the best parts of the planning system in the UK is that social housing is heavily mixed in with the private stock so we don’t get large geographical divides between people as is the case in urban France. This also shows how many people are renting, which has gone up nearly everywhere in the last ten years.
This chart shows how prices in the local area compare with those in the region and the national picture. Given our geographical position relative to the national economic centre of gravity, the relative price levels are what we’d expect.
For this month’s market update, we’ve decided to take a look at what percentage of total sales each house type accounts for each quarter. Whilst it doesn’t show the actual number of sales, it’s very useful for seeing what each property type is contributing to the total level of transactions. It also permits year-on-year comparisons, which negate the impact of seasonality.
Outside space has always been a sought-after commodity, whether it’s acres of land or a balcony with pleasant views. Most property searchers have a few items on their list when looking for a new home, with some form of outside space usually near the top. But remember, gardens, balconies and terraces aren’t just eye candy; they also add value to properties.
What a way to start the new year – this is a diamond!
Brand new to the market is this double fronted, four double bedroom mid-terrace in the centre of Heaton Moor. These properties are so rare to the market and this one benefits from needing a full refurbishment meaning the new owner can put their own stamp on the house and benefit from the increased capital.