A new landlord came to my office this week, looking to bring over his managed property portfolio in the new year. As is the case with many new landlords I work with, our chats normally revolve around the success of Tameside’s rental market, as well as the forthcoming trends in the property market itself. Owning several buy to let properties across the borough, he was keen to find out his values and how they stack up against other areas of Greater Manchester.
Over the last 12 months the average property value in Tameside has risen by nearly £2,817, from £166,124 to £168,941; an increase of 1.7%. When we broke down the results and looked at the values for semi-detached houses, this average increase is even greater at £5,692. This is a considerable average increase of £109.46 per week.
Breaking down each town in Tameside, the results are as follows:
The OL6 and OL7 towns of Ashton-Under-Lyne and Mossley saw the largest increase of property values in Tameside; an increase of 4.9% across 2019. Detached properties in both towns had the largest growth.
Meanwhile, the M34 towns of Denton, Droylsden and Audenshaw saw a smaller 1.43% gain on property values (an increase nonetheless).
Looking further afield around the Greater Manchester boroughs, property values in Tameside have done considerably well; particularly against Rochdale and Wigan.
When considering this landlord’s buy to let portfolio, the rental values have remained fairly stable or grown during the 12 months of 2019; with no visible value decreases. This is a great indicator that Tameside’s property market, as ever, remains a stable, varied and result-yielding location to invest.
On the subject of rental values, a contributing factor to their increase this year is attributed to the rising number of popular HMO properties in the borough. To compete in this growing market means knowing exactly where to invest, whilst finding your target niche and how to tailor the property to this audience through standout, stylish and a well-presented finish.
As 2019 is drawing to a close, I’ll be reflecting on the property market on the whole in the coming weeks, as well as looking at what’s been trending on the Tameside property market throughout the year.
If you’d like more information on the Tameside property market or are looking to invest in the borough come the new year, drop me a line on 07709 505 442 for a free opinion and the guidance to ensure a successful start to the 2020 year in Tameside.