Stockport Property Values, Prices and Rental Yields for this month
If you are looking to buy property or invest in an area, it makes sense to do your research. A large part of this work is knowing the facts and figures associated with the local property. If you have an interest in property values, prices and rental yields in Stockport, we are happy to help you out.
As of October 2017, the average value of Stockport property stands at £248,929 and in the past 12 months, the average price paid for property in Stockport stands at £235,872. This is a figure which is higher than the Manchester figure for the same time period (listed as £177,597) but of course, there are many different parts of Stockport.
The SK1 postcode area refers to Stockport itself and the average price paid for property in the past 12 months is £131,329 while the average value of Stockport property is £135,621. In the SK2 postcode area, representing Stockport and Overton, the average price paid for property in the past 12 months is £206,243 and the average value of property stands at £204,877.
There is a range of property options to enjoy in Stockport
The SK4 postcode area, covering Stockport, Four Heatons and Heaton Moor is even more expensive with the average price paid for property in the past 12 months standing at £277,826. However, it is the SK7 postcode area which probably increases the average for Stockport because the average price paid for property in SK7 in the past 12 months stands at £317,974 while the average value for property in the area is listed as £350,789.
If you are considering the Stockport rental market, the average property rents in Stockport stands at £930 per calendar month. For a one bedroom property in Stockport, the average rent is £535 PCM while for a two bedroom property, £678 PCM is the average. For a three, four and five bedroom property, the average rent per calendar month is £919, £1,277 and £1,801 respectively.
Stockport provides some appealing rental yields
When it comes to the expected rental yield, which is hugely important information for anyone looking to enter the buy to let market, the SK1 postcode area has a lot to offer. With a one bedroom property in SK1, the expected rental yield stands at 7.96%, the expected rental yield for a two bedroom property is 6.4% and there is a return of 4.93% for a three bedroom property. The 5.66% expected rental yield from a four bedroom property is promising but it is the 9.86% expected rental yield from a five bedroom property that is the most appealing on paper. Yes, this will likely be the most expensive type of property to buy this return indicates that anyone with the means to buy this type of property will be rewarded.
There is a similarly strong return for the SK2 postcode area. A one bedroom property offers a 6.69% rental yield, a two bedroom property provides a return of 5.84% and there is an expected rental yield of 4.8% from a three bedroom property. The return for a four and five bedroom property in SK2 is 5.49% and 6.81% respectively.
The returns for SK4 and SK7 are listed in the table below:
- 1 bedroom property: 6.42% return for SK4, 5.43% for SK7
- 2 bedroom property: 5.97% return for SK4, 4.7% for SK7
- 3 bedroom property: 5.75% return for SK4, 3.97% for SK7
- 4 bedroom property: 3.85% return for SK4, 4.41% for SK7
- 5 bedroom property: 4.56% return for SK4, 4.57% for SK7
The fact that expected rental yield is also related to the cost of buying property, it is easy to see why SK7 offers the consistently lowest return.The fact that there are a number of different areas of interest in Stockport suggests that there is a great deal to like and enjoy about this part of Greater Manchester. Whether you are looking to invest or you want to find the ideal place to live, Stockport should have something of interest for you. If you would like to discuss the Stockport market in greater detail, be sure to contact Peter Anthony.