village point

A big thank you to Steve Dillon for the invite to the opening of Village Point. This brilliant new events venue certainly lived up to the hype, as the meticulous restoration project of the 19th Century building took centre stage.

If you would like to find out more, simply visit the website for more details.

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heatons company set to shine at rhs flower show

Heaton Moor based Dreamscape Gardens are placing the final touches to their stand at the RHS Tatton Flower Show. Their design ‘Blooming Borders’ garden, has been inspired by the plight of coral reef. The flower show is on from the 20th – 24th July at Tatton Park. You can book tickets in advance or just pay on the day.

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home sizes

According to the last census, the most common type of property in The Heatons is a three bedroom house, which accounts for 43.4% of the total. This is 8.9% lower than the regional average and 3.1% lower than the national average. The next most common type of property is a four bedroom or more house (41.3%) followed by a two bedroom house (10.4%).

 

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how have sales rates changed?

The volume of sales in a given area is a powerful measure of the vitality of local housing markets. In the last three years there have been 2,023 sales in The Heatons. Semis accounted for the largest number of sales (751), followed by terraces (620), then flats (364) and detached properties accounted for the fewest sales (288).

 

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fantastic buy to let opportunity churchill street, heaton norris

This is the very first look at a property new to the market today! Churchill Street in Heaton Norris will make an excellent buy-to-let investment opportunity with the potential to achieve circa £750 per calendar month. That’s a 7% yield!

As I write this it’s not available to view on the property portals so give me a call if you’d like further details.

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a brighter future for first-time buyers in the heatons?

As I’m sure you’ve noticed, things have changed a lot for first-time buyers recently. Government schemes and mortgage requirements seem to change every week, so would-be homeowners have got to keep up. However, for those in the know, there are a lot more options in The Heatons than there used to be.

The first challenge awaiting would-be home-owners these days is the deposit for the mortgage. The bigger the deposit, the better the chances of getting a great deal. The minimum required deposit is around 5%, so with an average home in The Heatons valued at £237,600 locals will require a deposit of at least £11,900. That’s quite a lot of saving up, given that average annual salaries in the region are £25,700.

The Government has stepped-up to help make saving easier. The newly introduced ‘Help To Buy ISA’ will hopefully make saving for a first home quicker and less painful. Save £200 and the Government will contribute £50 each time.

The Government has also made it easier for first-time buyers to purchase new-build properties. With the ‘Help To Buy’ scheme, they still need a deposit of around 5%, but then the Government loan a further 20% interest free for the first five years, meaning they only need a mortgage for 75% of the property price. In London the loan is up to 40%. After year five they have to pay interest at 1.75% of the shared equity loan at the time they purchased the property, rising each year after that by the Retail Prices Index (RPI) plus 1%. Sell up or pay the mortgage back and they’ll be asked to repay the Government’s share of the loan, along with a share of any increase in the home’s value.

Interestingly, of the 146,500 people who took advantage of the ‘Help To Buy’ scheme between the 1st of April 2013 and the 31st of December 2015, only 21 of them were in The Heatons. Low figures are usually down to either low house building rates or local prices being above the £600k ceiling for ‘Help To Buy’.

Another option for buying a first home in The Heatons is shared ownership, which allows a would-be homeowner to part-buy part-rent their property. Back in 2011, there were 55 shared ownership properties in The Heatons and given the national growth rate there should be around 65 now.

Under this scheme, owners start off with buying anything from 25% to 75% of their home, usually with a mortgage, and paying a monthly rent to a housing association, who will usually give the occupier the chance to increase their ownership share, known as ‘staircasing’.

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how many cars in the heatons?

In The Heatons, the majority of households own one car (44.0% of all households). This is 1.5% higher then the average in the North West. The next most common category of car ownership in The Heatons is two cars (27.1% of all households), which is 3.6% higher than the average in the North West.

 

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terrace property in heaton norris with a potential rental yield of 6%

New to the market with Julian Wadden is this two bedroom terrace property on Samuel Street in Heaton Norris. As this property is unlikely to be on the market for any length of time, if you’re interested I’d recommend an early viewing.

It’s a nice example of a house in this area, quite modern, fairly decent size with on road parking and an enclosed rear garden, all good plus points for a potential tenant. The asking price is £129.950, which represents good value for money considering the rental income which is likely to be achieved. I know of a similar property which has let for £650 per calendar month very recently.

Have a look at the details for this property on the link below;

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a fantastic opportunity to purchase an apartment for investment in heaton moor

This two bedroom apartment looks like it needs some modernising internally but if you can see passed that this property is ideal for those looking to invest in a property for buy-to-let. At the price it is being marketed for there is also room to make a tidy profit should you wish to refurbish and place back on the market for sale, there are comparable apartments which have sold for circa £180-£190k which are admittedly refurbished to a modern finish throughout. If you’d like to discuss these comparables please don’t hesitate to give me a call.

As mentioned in previous blogs The Heatons is a popular spot for renters, a little further away from the centre of Stockport and on the doorstep of some fashionable bars and great transport links such as the new metrolink station and Heaton Chapel train station.

This apartment has been placed on the market by Gascoigne Halman at asking price of £150,000, which seems reasonable. Considering you’d be looking at an asking rent of about £800 per calendar month, this would return a yield of almost 6.5%. We are aware of another apartment within the same block which let for £850 per calendar month which was immaculate throughout and featured a brand new kitchen and bathroom. The link to the property is below..

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