I’ve had several Tameside homeowners contact me over recent weeks regarding worries of attempting to sell their properties so close to Brexit; a concern also observed from afar by some of my landlords and investors.
Roll back the clock twelve years to the start of the last recession. The Tameside property market was healthy and not overly erratic when it came to sales volumes, asking prices and average values.
However the credit crunch took this and stirred up a chaotic whirlwind, dramatically impacting the course of the property sales for the next ten years (even today, there are still a few Tameside properties yet to fully recover from the credit crunch).
Tamesiders found themselves struggling to afford properties that they may have been able to do so months or years before. As a result, the demand for the supplies of properties plummeted and consequentially, so did values and prices paid on the sale.
Now there’s no guarantee as of yet if Brexit will have a major impact on the Tameside property market as regular readers of my blog will know all too well.
However in order to offer advice to those in the time of need, I’ve been conducting some research to show where exactly in Tameside you would be most successful at selling a property based on figures from the last 12 months.
Over the last 10 years, Ashton-Under-Lyne has had the highest amount of property sales in the borough (at 5,800), however Hyde has gained some serious momentum on mounting an assault for taking this crown over the last 12 months.
With the highest amount of properties sold at 652, this brings the total number of Hyde properties sold over the last 10 years to 5791, only 9 properties behind.
On the other side of the scale, Mossley saw the lowest movement for properties sold over the last 12 months with only 173 trading hands.
These figures mean a number of things for Tameside homeowners, landlords and property investors.
The demand for properties in Ashton-Under-Lyne and Hyde are much higher than any of the other Tameside towns, whilst many homeowners, landlords and investors are seemingly happy with their properties in Mossley, Audenshaw and Dukinfield (the lowest performing towns in terms of sales).
For homeowners in these towns looking to upscale or downscale elsewhere, it means you’ll have better chances in towns with more sales to sell up and relocate, whilst for landlords and investors this clear demand means you’ll have no issues in terms of letting such properties after making the initial investment.
Of course the volume of sales isn’t the only factor that should be considered when it comes to selling a property; value is also key (something I’ll be taking a look at on the Tameside Property Blog next week).
In the meantime, if you are looking for advice on buying/selling/buy-to-letting or investing in property in Tameside, feel free to drop me a call on 07709 505 442. I don’t charge for any of my advice and love to discuss all property related matters in Tameside.