We can’t remember a time when there’s been more excitement about The Heatons property market. We’re having more and more conversations with the buyers and sellers we advise who realise that they’ve ‘timed their runs’ perfectly. As we’ve seen many times before; as the market turns a corner, momentum starts building very fast.
Located at St Johns Road which is just off Didsbury Road, Heaton Mersey Collective are hosting an Artisan Market & Scarecrow Competition. Run with the help of the Stockport Lamplighters Rotary Club, this exciting event has a range of stalls offering top quality foods and drinks.
There will also be an Macmillan coffee event, a local history event and information and local charities and organisations. Simply pick up an application for the Scarecrow competition on the day OR email firstname.lastname@example.org to get a form.
Saturday 22nd September 2018 11am till 3pm – St Johns Road & St Johns Church.
The annual golf day is almost upon us and Stockport CP is celebrating 25 years of this great competition, so they hope to make it the biggest and best yet! They have a selection of amazing raffle prizes this year including; Halle concert tickets; Stockport County tickets; Marriott V&A Afternoon tea vouchers and many, many more. The draw will take place in the evening at the golf day on Friday 14th September.
As always, Julian Wadden is sponsoring a hole and entering a four-ball team of the highest quality!
The Summer of 2018 has certainly been memorable. England has enjoyed it’s strongest performance at the World Cup for many years while also enjoying (suffering) its longest, hottest summer on record.
While Brits have been off enjoying the weather, thoughts of property purchases have taken a back seat for many. However, as we return to work after the long, hot summer, history suggests that agents may see a busy autumn.
On average in the autumn following the last five driest, sunniest and warmest summers; 1995, 1996, 2003, 2006 and 2013, sales rates picked up by an average of 1.8%.
However, in all other autumns since 1995, sales have declined by an average of 8.7% compared to the summer months.
There are 14.4 million households across England who own their own home, either outright or with a mortgage. This is 63% of all households.
Of these, the latest results from the Survey of English Housing estimate that 576,000 (4%) are planning to move within the next six months.
Moving up the ladder to a larger home is the primary motivation for existing owners, although not for those who own their home outright. Almost a third of those who own outright are looking to downsize.
As the new school year gets underway shortly, moving home to be in particular school catchment areas is a motivation for almost 10% of owners with a mortgage.
£873 billion – the total value of mortgage debt across England, according to the latest data released by UK Finance. That equates to just over £130,000 for every owner occupier mortgaged household across England.
The level of mortgage debt is rising, up 2% on a year ago, and 8% higher than four years ago. That’s not surprising given stretched affordability and the increasing number of longer term mortgages. Over half of all first-time buyer mortgages are issued for a period of 30 years or more according to the 2017/18 English Housing Survey, up from just 40% in 2015/16.
The level of debt per household is highest across the capital, where property prices are close to twice the England average. Less than half of all households across London are owner occupiers, just 22% of households are owner occupiers with a mortgage. This compares to 65% and 30% respectively across the rest of England.
To date in 2018, 95% of all new mortgages issued for new homes and remortgages have been on fixed rate deals. While the average interest rate has increased slightly, from 2.09% in January to 2.2% in May, this remains low compared to historic standards and any interest rate rise is unlikely to cause significant waves across the market.