Before Christmas I was speaking with an elderly resident of Hollingworth, whose grandson was considering becoming a landlord this year and looking to invest as locally as possible. I was advised he’d been looking at properties on the nearby Mottram Roads, before being asked on my advice as to which to invest in.
The two Mottram Roads of Tameside (one in Hyde and one in Stalybridge) both act as major lifelines in and out of each town; near meeting atop Mottram Moor. With each being around the two mile long mark, there are no shortage of properties on either road; providing plenty of options to anyone looking to invest on them.
The grandson I mentioned was looking to see which one would offer better buy-to-let investments, and which would offer the better return/yield. There’s no doubt that properties on both roads sell well, but I wanted to do a bit more research to help with his choice (and of course, post my findings here).
The average price for a property on Mottram Road in Hyde based on the last 12 months is £146,263, whilst Mottram Road in Stalybridge is significantly higher at £271,513. But of course, to better understand investment opportunities, rental figures need to be considered.
The current average rental figure on Mottram Road in Stalybridge is £568pcm, whilst Hyde’s Mottram Road produces £653pcm. So not only does Hyde’s Mottram Road have a cheaper purchase price, but also the higher rents. So why is this?
The first main consideration to take with Stalybridge’s Mottram Road is there are a significant number of small, one bedroom flats compared to Hyde’s. This has an impact on the overall average rental figure, when typically this road comprises more of a larger semi and detached properties. Taking these out of the equation, you’d be looking at a rental figure of at least £600 – £650pcm and above.
The higher prices of properties on Stalybridge’s Mottram Road are, in most part, generated by the generally greener surroundings. Beautiful views can be found from just off Mottram Road atop Matley Lane, overlooking Tameside and over to Manchester city centre.
It has Cheetham Park for pleasant walks and downtime, complete with access to Hobson Moor hills and quarry for scenic walks and rock-climbing. Both Stalyhill infant and junior schools have been rated ‘Good’ by Ofsted, whilst there’s also the Priory Tennis club and Stalybridge Celtic’s football stadium complete with gym for those of the sporty-minded.
Hyde’s Mottram Road however has a higher density of properties per square ft; mainly comprising of terrace properties with some larger, detached houses towards the Hyde town centre end. Frequent bus and train links along Mottram Road and from Godley train station into Manchester city centre make it ideal for commuters, with Vincent Park and the neighbouring Godley Brook offering a spot of tranquillity away from the hustle and bustle of Hyde town centre.
All these considerations need to be taken into account no matter where you are investing; Tameside or not. It is so important to ensure you are investing in the right area to make the most of your money; selecting the right types of property for the right types of tenants. Each Mottram Road offers differing qualities that current residents look for, both with their pros and cons tailored to each individuals tastes.
If you’d like more advice on investing in property in Tameside or are seeking a second opinion, I’d be happy to help; give me a call on 07709 505 442.