Buyer demand is surging in emerging property hotspot Stockport
Buyer interest is at high levels across the UK property market. And Stockport is seeing the strongest growth in buyer demand for one- and two-bedroom flats. In recent months, the UK property market has seen a rapid increase in buyers on the house hunt. Buyer interest in properties for sale has surged by 25% since schools reopened in March, according to Zoopla. The property portal has also released data on what areas of Great Britain are seeing the biggest increase in buyer demand as lockdown restrictions ease.
Stockport, Scarborough and Cambridge are leading the rising demand. Buyer demand has increased the most for one-bedroom and two-bedroom flats in Stockport with an 164% increase. And the average property value in this Greater Manchester town sits at £154,000. Currently, empty-nesters and first-time buyers are driving demand for flats across Great Britain. Flats in Stockport and at the other locations in the top 10 offer urban and suburban living at a reasonably low cost. Property investment hotspot In the north-west of England, Stockport is an emerging property investment hotspot.
With an exciting location, the town boasts connectivity to Manchester’s city centre. Stockport has reinvented itself as a leading commuter town to Manchester, taking only nine minutes to get to the city centre on the train. This is making it an attractive location for both homebuyers and tenants. Situated in southern Greater Manchester and near the North Cheshire border, Stockport is a highly sought-after residential area, providing a balance between city and country life. The town’s appeal is driving strong capital gains and rental yields for many property investors.
Many investors are looking to enter the market here and take advantage of the lower entry prices. With substantial growth set for the future, Stockport will likely be a great choice for property investment. Regeneration and development In recent years, Stockport has become one of the largest and fastest growing economies out of the Greater Manchester towns. The heart of the town is also undergoing a major £1bn regeneration scheme. The local council’s masterplan will transform the town centre with 3,500 new homes and more than 1m sq ft of new office space.
This will likely make Stockport especially appealing for businesses and young professionals, which is expected to further boost buyer and rental demand in the coming years. The growing north-west With cheaper property prices and strong growth prospects, the north-west of England has become a particularly attractive region for property investment. In many areas across the region, there is growing rental demand and positive capital appreciation prospects. The north-west is forecast to see the most significant house price growth in the UK during the next few years.
Savills predicts house prices in the region will increase by a whopping 28.8% over the next five years. Many investors are keen to get their foot in the door soon in order to maximise the potential price hikes. At BuyAssociation, we have a new exciting property investment opportunity available in Stockport at the Ropemakers Yard. For more information about this boutique development, get in touch. Source: Buyer demand is surging in emerging property hotspot Stockport