Are you looking forward to buying a home in Stockport? Well, this is one of the most popular property markets in the UK and the ideal location to live and work for most young families.
Stockport is a growing town in Greater Manchester that has risen over the ranks to become a property investment hotspot in the country. There are hosts of exciting regeneration projects in Stockport, making it one of the best locations to buy a house.
Although Stockport may look ideal for buying a home in the UK, the high property prices in the location may put you off. In the last half of 2021, property buyers in Stockport increased by 500%.
It means there has been an increasing demand for property in Stockport. According to the Royal Institute of Chartered Surveyors (RICS), there have been an increased number of instructions to carry out surveys in Stockport.
In 2020, the surveyors completed 1,887 surveys between January and July. This shows a significant increase from 311 in 2020, making it one of the biggest rises in the UK. The rest of the UK property market continues to recover in the aftermath of Covid, and Stockport is taking a major lead based on the recent data.
Buying a home in Stockport is not that easy. Therefore, you should hire a housing conveyancing solicitor Stockport to hold your hand. This way, you can improve your chances of getting the best property deal.
The housing market in Stockport is skyrocketing.
According to Rightmove, properties in Stockport had an overall average price of £285,720 over the last year. Additionally, most of the sales in Stockport in the last year were mainly semi-detached properties, which go at an average price of £286,711. Most of the terraced properties in the country go at £217,194, with a detached property selling at £484,750.
According to Zoopla, terraced houses go at £223,599 and flats at £163,483. Different property types have different prices in Stockport. Therefore, you want to research wide when looking for a home to buy in the city.
Overall, sold prices in Stockport for the last year were 9% up and 23% up on the 2019 peak of £231,585.
How the Stockport housing market is transforming
There is some significant regeneration that is ongoing in Stockport. This makes the town one of the most popular housing markets you can opt for when you plan to invest in property.
One of the most significant improvements that will change the town is the revamped transport exchange. Some of the proposed changes in the town include an interchange link, a passenger concourse, and a new bus station. These works are bound to improve Stockport, which already has huge connectivity in the UK.
There are plans to create a Town Centre West area with at least 3,000 new homes. This is expected to meet the increasing demand for homes in the town. There are thousands of homes expected to enter the market with the upcoming redevelopments of a college campus.
The transformation of the Weir Mill and the creation of the community site in the old St. Thomas Hospital are some of the changes that will make Stockport a place to watch for property investors. The Stockport Exchange is another development in the city to watch.
The train station and a modern business district in the town will make this location one of the ideal places you should own property. Many projects are underway in Stockport, which is most likely to change how investors and homebuyers view this location.
How to buy a home in Stockport
If you plan to buy a home in Stockport, you should do your research well. Property prices in Stockport keep increasing as the demand for housing in this location is skyrocketing. Buying a new house in this location can be stressful.
Therefore, you must understand all the basics of buying a property in the UK before moving. Get a conveyancing solicitor and a real estate agent to take you through the buying process.
If you’re buying a home, you should start by contacting your local estate agent. Search the internet for the latest house listings in Stockport, and don’t hesitate to read the newspapers on the property market.
Property prices in Stockport and other cities in the UK keep changing. If you plan to buy a home in the UK, you should start early. Now is the right time to invest in the Stockport property market.