Manchester Property News

M19 Property Market Sees An Unpredicted Autumn Boost of 6.3%

Tom Simper Jan 3, 2017, 14:13 PM

Lev and Burn

Well, it doesn’t seem like two minutes ago that it was Christmas – and now it’s all over! One cold December morning, after arranging the office’s Christmas cards I thought I would nip out for a quick festive coffee and mince pie at my favourite local coffee shop Inspire.  I met an old client of mine in the coffee shop and we got talking about the M19 property market. I had just completed my research for my next blog article and I would like to share with you the parts of the conversation relating to the M19 property market.

He asked me what my thoughts were about the last half of the year in regard to the M19 property market and if there were any great buy to let deals around. In reply I said that, in my view, shrugging off the uncertainty of the initial post Brexit vote, I have seen an increase in supply and a rise in the number of properties selling at the lower to middle end of the market, meaning both first time buyers and buy to let landlords have been returning in the last few months – proof the market is beginning to bounce back.

So let’s look at the numbers ..

In November 2016, according to the three main property portals (Rightmove, Zoopla and OnTheMarket) there were a total of 557 properties for sale in M19 (within 3 miles of the centre of M19 to be exact). In November 2015, there were only 524 properties for sale, a rise of 6.3%.

When I split it down into bedrooms (note things like building plots and part commercial/part residential etc won’t be in these figures so the numbers below wont exactly match up to those in the above paragraph).

# Properties on the market in Nov 2015

# Properties on the market in Nov 2016

Per cent Change

5+ Bedrooms

6

15

+250

4 Bedrooms

38

42

+10.5%

3 Bedrooms

264

272

+3%

2 Bedrooms

202

219

+8.4%

1 Bedroom

14

9

-36%

.. and when I looked at type of properties  .. it got even more interesting

Type of Property

# Properties on the market in Nov 2015

# Properties on the market in Nov 2016

Per cent Change

Detached

8

12

+50%

Semi

226

232

+2.7%

Terraced

215

234

+8.8%

Flat

56

48

-14.2%

As the number of M19 properties put up for sale has increased, homeowners have become more realistic about how much their homes are worth. This increase in homeowners wanting to sell suggests there is renewed confidence in the M19 property market and there are also signs that people are being more realistic about pricing their property.

As you can see, there has been a significant uplift in terraced properties, which means there is a good choice for first time buyers and landlords. So with a combination of realistic pricing and more properties on the market – both first time buyers and landlords alike might be able to pick up a few bargains! 

If you are thinking of selling, buying or letting out a property and want some advice about the local area then please do not hesitate to contact me for a chat over a coffee!

 

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This Blog looks at what is happening in Manchester, the property market, events and community news along with investment ideas and tips for those loosing to invest in the area. 

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