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.
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!
Although the yield is an important factor when purchasing a buy to let, I appreciate it isn’t alwaysthe 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.
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.
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.
The new school year is underway for over 10 million children across England and Wales and school catchments rate highly for many choosing a home. How much more are home buyers prepared to pay to live close to an Ofsted rated outstanding school?
An analysis of property sales across England and Wales (excluding London) over the last year reveals a 10% price premium associated to homes close to an outstanding primary school and 17% price premium associated to an outstanding secondary school.
Properties located within one mile of an outstanding primary school sold for, on average, £22,686 more than properties within one mile of other schools, the price premium for secondary schools was £37,558.
Detached houses attract the largest price premium, with buyers here having to find an extra £90,000+ to live within one mile of an outstanding school.
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 email@example.com to get a form.
Saturday 22nd September 2018 11am till 3pm – St Johns Road & St Johns Church.