After speaking with a few homeowners and landlords who are considering making a cash flip from buying cheap, refurbishing and putting a property back onto the market, I delved into each town in Tameside’s property market to find where the cheapest Tameside properties can be found and whether or not there is a trend to be spotted. This week, I’ll be taking a look in Stalybridge.
My advice to those looking to buy property; whether it be to occupy, refurbish or as a buy-to-let, is always to take a step back and look at the bigger picture. We’ve all fallen in love with a property before (be it in person or simply from glancing at photos on Zoopla and OnTheMarket), only to discover the area is a tad run down from lack of investment, poor transport links or next to no amenities.
These factors however typically have an impact on property prices. Tameside properties are always going to be more expensive if they are desirable in style, nestled away from the bustle of our towns or offer a range of conveniences such as being situated within an ideal distance of highly rated schools.
So in order to cash in on a great property deal, you may have to go against your preferences or instincts to find the cheapest ones. Thankfully for you as a reader of the Tameside property blog, I’ve already done some of the leg work for you.
Comprising of 83 properties, Hanover Street is nestled in a popular residential area of Stalybridge. Properties on this street have exchanged hands 109 times since January 1995, further highlighting the popularity.
There are some great properties on this street to be had as first-time buyer houses, or excellent canvases for buy-to-let properties.
Over the 103 transactions taking place, the average price for a property on Hanover Street equates to £92,864.
Situated just off High Street, Robinson Street has 56 residential properties which have been exchanged 58 times, generating an average price of £96,396, slightly cheaper than Hanover Street. The cheapest properties can be found at the £74,000 mark, with the most expensive property on the road having been sold for £141,000.
The cheapest recorded sale on the road is £30,000 back in April 2002, showing the potential for a steady and healthy value growth across the years.
Situated with beautiful views of the surrounding hills, you could argue that property prices on this street are a steal.
24 years ago, some of the 20 properties on this crescent were selling for as cheaply as £16,000. Fast forward to today however and you’re looking at an average price of £107,950; a slight hike in comparison to Hanover and Robinson, but still within the realms of affordable for first-time buyers.
So what can we take away from this?
First and foremost, many of Stalybridge’s roads within close proximity to the town centre comprise of a range of reasonably priced terrace properties. As distance from the town centre grows, so do the property prices; particularly as you get closer to the hills.
Regular visitors to my Tameside property blog will note I have always given my sympathies to the generation who are finding it increasingly difficult to get a foot on the property ladder. Are they perhaps being too picky however, as there are clearly properties to be found in the town well south of the £100,000 mark.
Of course you could argue their personal preferences and even in some cases, work needing to be done to some of the properties will contribute to this.
For buy-to-let landlords and property investors however, my findings have shown that there are plenty of properties and a great number of streets and roads in Stalybridge offering excellent potential as buy-to-let candidates.
If you want to know more about my findings on the cheapest properties in Stalybridge (and believe me, there were far too many to compile into a blog post without it stretching into dissertation length!), please don’t hesitate to give me a call on 07709 505 442.
Stay tuned to the Tameside property blog over the coming weeks as I take a look at where else you can find the cheapest properties in Tameside and for how much.