STOCKPORT EXPERIENCING SIGNIFICANT HOUSE PRICE GROWTH

Stockport Experiencing Significant House Price Growth

While we know what Stockport has to offer, it is always good to see other people stating how well the town is doing. Information provided by Post Office Money, who analysed ONS data, has seen Stockport listed as a city worth following when it comes to house price growth.

In the past year, Stockport has managed a double-digit house price growth, placing it alongside locations such as Leicester and Nuneaton & Bedworth as being worthy of note for price increases. When you consider house price growth across the country at this time has been just 0.9%, the increase in Stockport is well worth considering. According to Post Office Money, the average home costs £282,713.

Stockport is a town on the rise

Chrysanthy Pispinis from Post Office Money said: “Rental income and opportunity for capital growth should be fully explored in the mid to long-term to help evaluate the best locations as you begin your property search. The market as a whole may have slowed in the last year but many locations, especially in the Midlands and North, are continuing to see significant house price growth. These properties are potentially good mid-term investments, particularly as they sit in locations that continue to be affordable, even for first-time buyers, which can be a great indication of future growth hotspots.”

One issue which has affected perceptions about the property market is how the media covers the industry. Even there have been signs of resurgence in the North and the Midlands, the slow-moving nature of the property market in the south of England has seen many media outlets overlooking what is happening elsewhere.

Cardiff, Sheffield, Nottingham and Birmingham are good examples of cities which have witnessed price growth, but which haven’t been given too much consideration in the national media. However, we believe Stockport is worth considering in its own right. There is a lot going on in the town, and even though it is very close to Manchester, there is enough happening on the doorstep of Stockport residents to make it an excellent choice. This is the case for the property and rental market.

Pispinis added: “The number of households renting in the UK has increased from 2.8 million in 2007 to 4.5 million in 2017, a rise of 1.7 million. This shows that there is still a real need for buy-to-let properties and therefore an opportunity for those looking for a New Year investment.”

With convenient transport links to the centre of Manchester, and significant developments taking place, Stockport is the ideal place to buy, live or invest. As Stockport property specialists, we want to ensure you stay in touch with the latest property news. If you are looking for assistance in this area, give Spencer Harvey a call on 0161 480 8888 or send us an email at info@spencerharvey.co.uk. For a free valuation please visit: https://www.spencerharvey.co.uk/valuation-enquiry.html

 



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