the heatons property blog

a fantastic buy to let opportunity in the heatons…

I couldn’t let the day pass without posting this property for you all to see, just in case it gets snapped up quickly!

The property is very nicely presented and looks as though it would appeal to a lot of potential tenants. It’s a ‘ready made’ investment on the market with Reeds Rains with an asking price of £110,000 and you could be looking at a rental income of £600 pcm which generates a potential yield of 6.5% gross.

These properties in The Heatons are really quite popular little units, there is always demand from tenants for them and the return is well above the average in the area. If you would like to have a chat about the property market and buying to let, feel free to pop in for a coffee.

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average house prices in the heatons up 11.7% last year

Homeowners in The Heatons and buy-to-let landlords in SK4 should be pleased to know that prices have risen recently.

Our latest analysis of The Heatons property market shows that month-on-month, SK4 house prices have increased by 2.2%, whilst the year-on-year figures showed that house prices in SK4 have increased by 11.7% in the year, taking the average house price in The Heatons area to £269,900.

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 2.2%

• November 2015 – a fall of 1.7%

• October 2015 – a fall of 1%

• September 2015 – a fall of 0.2%

The lack of new building developments has been the biggest factor contributing to the SK4 property values being 21.2% higher compared to 2009, and an eye watering 285.8% 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 SK4 (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 SK4 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 The Heatons is 71.9%), in Europe’s powerhouses, only 52.5% of Germans and 44.0% of Swiss people are homeowners.

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village point – heaton moor

Events, arts and business venue Village Point has appointed Northern Quarter interior design studio NoChintz to create the look and feel for the new £250k development, which is set to open in Heaton Moor in late Spring 2016.

NoChintz’s remit is to create and bring to life a series of show-stopping spaces for Village Point. The 19th century building’s interior restoration commenced in Winter 2015 and NoChintz is set to start work on the interiors shortly, ensuring that everything is ready for the development to open its doors later this Spring.

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the heatons summer festival – sunday 19th june

Taking place on Sunday 19th June The Heatons Summer Festival is finally here! This amazing non profit event ran solely by Four Heatons Traders is a must for anyone living in this beautiful area. With many events and stalls taking place, this diamond event in the calendar is sure to be a winner once again.

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churchill street, heaton norris with a potential yield of 6%

Hi everyone, thought I would point this property out to you. I came across it in my daily trawl of the property websites and thought it looked interesting. It is located on Churchill Street in Heaton Norris, not too far from Asda and has come on the market with Julian Wadden.
It is a lovely example of a house in this area, quite modern and a decent size throughout with the added benefit of a cellar currently being used as a sitting room. All good benefits for potential tenants. The asking price is £120,000 which is consistent with other properties in the area. Have a look at the details on Rightmove….

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resident jobs mix

In SK4, the largest proportion of residents (26.9%) are of ‘Professional occupations’ (Prof.). This is 10.5% higher than the average in the North West. Next most common in SK4, with 14.5% of all residents, are ‘Associate professional and technical occupations’ (Technical). This is 3% higher than the average in the North West.

 

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sales levels in the heatons 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 645 transactions in SK4 in the last calendar year. This is a decrease of 8.2% 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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west heaton bowling, tennis and squash club

West Heaton Bowling, Tennis and Squash Club are offering 10% discount for new adult racket members. This friendly club in its lovely secluded surroundings encourages players of all ages and abilities and also has a thriving social calendar with a full coaching programme for both adults and juniors.

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turnover in the 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 SK4, 4.2% of properties changed hands in the last calendar year. This is 0.4% more than in the North West, where the turnover was 3.8%, and 0.1% more than the whole of England & Wales (4.1%).

 

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heritage gardens, heaton moor – potential yield of 5.8%

Hello potential landlords, I was looking at what properties have come to the market recently which are suitable for buy to let and I came across this little gem. This apartment is situated right in the heart of Heaton Moor village and is considered one of the more desirable blocks and attract young professionals.

The asking price is £185,000, when you look at the rent you can expect to achieve it’s in the region of £850-£895 per calendar month so you could be looking at a yield of circa 5.8%. This is of course before you take into account any service charges or ground rents, so make sure you get this information from the agent before diving in.

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