Stockport Town Centre
There is no doubt that the UK residential property market is booming. House sales in the UK reached an all-time high in March of this year, with HMRC figures revealing some 180,690 deals being recorded in the month. The highest number since records began being published 16 years ago in 2005.
We are now seeing the highest annual growth rate in the property market since October 2014 with prices increasing on average 8.6 percent in the last 12 months.
What is driving the surge in property prices?
Despite the pandemic, property has remained resilient and has continued to be a top performing asset. There have been some key factors which have had positive effects on prices:
- Extension of the stamp duty holiday to 30 June
- Extension of the furlough scheme to 30 September
- Introduction of the Mortgage Guarantee Scheme (which allows for a 5% deposit on a house)
- The successful rollout of the vaccine
- Buyer sentiment has improved as a result of relaxation of restrictions and government support of the job and housing markets.
Where is the best place to invest in buy to let property?
The North West has emerged as the top performing region in the UK, with investors snapping up property all throughout the region. It can be difficult to know where the best area is to invest but there have certainly been stand out areas in the region. These property hotspots provide investors with the largest amount of capital growth and some of the highest yields in the UK.
Among the top 10 performers in the North West is Stockport, which has seen a 37.8 percent increases in property prices over the last five years.
Stockport is a historic town in Greater Manchester with a creative edge, famed for its historic hat making and brewing industries and as the birthplace of Fred Perry. Its rich history is celebrated in the quirky town centre, where interesting new retailers and restaurants are breathing new life into heritage buildings.
- £1 billion programme of investment is underway, further improving public spaces, increasing connectivity and attracting business and residents into the area.
- Property prices have increased 13 percent in the last 12 months alone
- Demand is soaring with a 30.5 percent annual increase on people searching for property in Stockport
- Prime location and transport links with Manchester City centre under 10 minutes away
- 12 trains to Manchester Piccadilly every hour
- Excellent rental yields and high rental demand – double the yields being achieved in London
To learn more about investment properties for sale in Stockport get in touch. Call us on 01942 251945 or email us on firstname.lastname@example.org.