The socio-economic profile is a telling measure of the constitution of people in a local market. We have to be careful when talking about the economic profile of local residents because no statistical measure will really illustrate the character of an area. However, we’ve used the governments ‘NS-Sec’ classification data on our area, which defines local residents in those terms.
By looking back over the last eight quarters, it’s quite enlightening to see how average sales prices have changed for individual house types. Obviously the bigger types sell for more, but the quarter-on-quarter changes tell an interesting story.
Have you ever wondered how many people buy flats in the local area as opposed to houses? Wonder no longer. We’ve done the analysis, which shows the most recent split as well as two years’ worth of quarterly data. This is useful information for anyone with an interest in the local market because it affects the overall market dynamic.
Defining the modern working week in 2018 isn’t a straightforward process. As we embrace technology, the lines between daily commutes to work and working from remote locations become less transparent. From a property perspective, this means people with flexible working patterns can be more selective about the location of their next home. But what does this mean for The Heatons?
Earlier this month Housing Secretary Sajid Javid confirmed government backing to create a new generation of town houses in cities like London and Manchester to ease pressure on valuable open spaces and help growing families.
Under the changes it will be easier to build upwards on existing blocks of flats and houses as well as shops and offices.
Property types are a handy measure of the shape of the market in a local area. For example, areas with lots of flats tend to be urban in character because there is huge pressure on land. A large number of detached homes means that the area is suburban and not very densely populated.
We know we live in a great area, and because most people agree, demand has driven up house prices. But how do prices in our area stack up in terms of property types? This chart looks at the comparison over the last eight years.
Here at Julian Wadden in the Heatons, we are excited to be supporting Norris Bank Primary school, to raise funds for a projector and screen for the school hall. We will donate 5% of our charges (net of VAT) on properties that we sell and complete on for Norris Bank Parents, grandparents, teachers, staff and Governors of the School, in 2018.
As well as current parents and grandparents, the offer is open to parents and grandparents of children who will be joining the school in September 2018 or who have attended the school at any time in the past, and to past pupils themselves living within the Heatons area.
So, if you or anyone you know is looking to move within the Heatons, please bear this in mind. If you sell a property through Julian Wadden, please inform the branch that you are associated with Norris Bank. If you have any queries at all, please contact the Director Julian Bethell, who runs the local Heatons Branch.
We’ve included this chart to show the relative number of flats and houses selling in the last 11 months in our area. Due to the profile of the housing stock in the area, there’s nothing too surprising here, but it’s interesting to see how the different types of properties contribute to total sales levels.
We think your ideal home says a lot about you. If the world were your oyster, would you go for something Victorian, Georgian, a duplex apartment, new build house, or maybe a farm? Given that we live in The Heatons, obviously our choices are somewhat limited by reality, but what are the hottest types of property and what does this mean for sellers?