It’ll come as no surprise that more Tameside homeowners and landlords are in possession of properties that were pre-existing upon their acquisition, be it through purchase, inheritance, auction, etc etc.
As regular readers of my blog will know all too well however, there are plenty of new build developments cropping up around the borough. Infact just last week I was discussing the proposed Godley Green garden village with one of my landlords which if controversially accepted, will bring a large number of new homes to the borough in one fell swoop.
So with all the new build activity going on within Tameside, this should have an impact on the difference of properties sold within the borough and additional properties brought to the rental market, right?
Firstly, let’s take a look at the pre-existing dwellings and how they’ve been fairing over the past two decades.
I’ve lost count of the number of times I’ve banged on about the effect that the credit crunch and global recession has had on the Tameside property market, and it’s fairly easy to see where it made its mark on the results depicted above. Fast forward to the modern day and whilst property sales are still quite the distance from the prospering year of 2006 for Tameside’s property market (5,097 sales that year), there’s a steady growth in sales of pre-existing dwellings.
New build properties have quite a different story to tell however.
Infact based on my research, 49% less new build dwellings are being purchased compared to two decades ago.
The dawn of the new millennium saw a huge boost to sales of new build dwellings in Tameside, up 86% from 1999. Since the credit crunch impacted the property market however, the sales of new builds has taken a massive blow.
With the continued re-development and regeneration of Hattersley’s western housing estate, as well as significant developments in Droylsden and Hyde, it’s safe to predict the number will increase somewhat over the years to come.
If you’d like to have a chat about the new build developments coming to the borough in the coming months and years, make sure you subscribe to the blog to get weekly updates on the development movements around the borough, or feel free to drop me a call on 0161 883 2525.