the heatons property blog

CHOCOLATE BOX PROPERTY

  • There is little else more quintessentially British than the chocolate box cottage. Bringing up idyllic images of rambling roses framing the doorway, thatched roofs, exposed beams and open fires, an escape to a rural retreat is the aspiration of many.
  • We have taken the opportunity during this National Chocolate Week to delve further into this market and the buyers who have made this dream their reality this year.
  • So far in 2018, there have been 2,100 country cottages sold in rural locations across England and Wales. The South of the country dominates, with 46% of sales but a fifth were in the Midlands and 15% in the East. The remaining 19% were spread across the North, Yorkshire and the Humber and Wales.
  • Unsurprisingly, buyers are prepared to pay a premium for a rural idyll. Chocolate box cottages sold this year for an average of £364 per square foot. This is 33% higher than the average price paid for all homes across rural locations.
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JUST 35% OF THOSE AGED 25–34 OWN THEIR OWN HOME

  • Just 35% of 25 to 34 year olds were homeowners in 2017, down from 55% twenty years ago. Only 60% of young adults with a 10% deposit and a loan based on an income multiplier of 4.5, can afford the cheapest properties in their local area according to a new report produced by the Institute of Fiscal Studies.
  • Rising property prices, primarily prior to the financial crisis, compared to incomes have been the major factor in this change. Adjusting for inflation, average house prices in England have risen by 173% over the last twenty years, compared to real incomes of those aged 25 to 34 which have risen by just 19%.
  • Regional disparity in house prices is far more acute than among incomes. Across London and the South East over 90% of young adults would need to save at least six months’ income for a 10% deposit on an average priced home in their area. This compares to under 60% across the North East, North West and Yorkshire and the Humber.
  • The introduction of incentives such as Help to Buy, have undoubtedly proved beneficial for many first-time buyers. Nearly 170,000 have benefitted from a Help to Buy equity loan since its introduction in 2013. Similarly, over 69,000 first-time buyer households have saved on average £2,300 each thanks to the first-time buyer stamp duty tax relief announced in the 2017 Budget.
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What do homebuyers in The Heatons really look for?

If you have ever sold your home, you will be all too familiar with the pressure to make the property look tip-top in time for a viewing. Your home must appeal to the most likely type of person to buy it, so it’s vital to understand a bit about the demand profile in your area. The chart above shows the demographic profile of our part of the world.

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in need of refurbishment on a generous corner plot

New to the market is this three bedroom semi-detached property on Broadstone Road in Heaton Chapel. Also being close to the border of Reddish means that, when being resold, you will attract buyers from both areas – a real plus!

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a beautifully presented, low maintenance buy to let property

Although the yield is an important factor when purchasing a buy to let, I appreciate it isn’t always the most important thing for all landlords. Of course, nobody wants to invest their money into something that isn’t going to make money, however sometimes something which is low maintenance, going to attract a great quality of tenant and increase in value is more important than an extra 1% on the return.

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Why it’s a good idea to make your move in The Heatons before 2019

The benefits of owning a home in The Heatons are huge. While it’s true that across the country homeowners are benefitting from steady and reliable capital growth, here the rewards are even greater. The core reason is that the area we live in is popular and just keeps getting more so.

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Samaritans Quiz Night

Back by popular demand! The local Heaton Moor charity ‘Stockport Samaritans’ have another quiz night at the West Heaton Bowling, Tennis & Squash Club.

Kicking off around 7.45pm on Saturday 1st December, tickets are £5 per person (max 6 per team)

Please contact chrissiegibson@me.com for more information.

HELP US BE THERE WHEN IT MATTERS

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Heart of the Heatons

Preparations are well underway for the brand-new arts and culture festival Heart of the Heatons! Running from Friday 5th to Sunday 14th October various cultural events will be hitting the streets of SK4.

From the spoken word, to music and theatre, artists will be exhibiting their works celebrating all things ‘art and culture’. Heart of the Heatons is platform for local talent as well as bringing more well-known artists into unique and intimate performance spaces.

For more information visit https://www.heartoftheheatons.com and look at what on offer.

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Bespoke Coffee

Positioned opposite Heaton Chapel train station in one of the huts is the latest place to buy yourself a quality coffee. Partners Nick Harris and Richard Wright will be opening the café Monday to Friday 6am – 3pm and later in the year Saturdays 9am – 2pm. The boys are keen to promote their speciality coffee and will hold regular cupping sessions where they will offer different samples of coffee and talk about the origin, taste and qualities.

 

The boys will also be selling artisan sandwiches made by Kauri Fine Foods, so get yourself and to quench your thirst and fuel your appetite.

 

P.S. – Bespoke Coffee are already the flagship in the Heatons #kicktheplastic scheme.

 

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WORKING FROM HOME

  • Working from home is increasingly popular, with almost a third of UK employees who use computers for their job, working remotely either every day or at least once a week. Those over 45 are most likely to work from home every day or almost every day.
  • Remote working has the potential to alter the interior of our homes. Will there be a premium for new homes with built-in office space? Home-owners already weigh-up the costs and benefits of converting bedrooms and extending upwards or outwards to create work space.
  • Homes in areas with superfast broadband are already in high demand. A recent poll found that 55% of UK house buyers would reject their ideal house if speeds were below 100 Mbps, with many willing to pay a premium.
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