With recent reports suggesting that year on year, to February 2014, average house prices in the UK have risen by 9% (by 17% in London), who better to review current property sales and rentals price trends in this affluent part of the country than one of the most successful and longest established independent firms of estate agents in Cheshire, writes Matthew Robinson.Ellis Pembery, Jan Johnson and Edward Naden
People usually contact an estate agent for one of two main reasons. They are looking to buy or rent their next home or they are preparing to move away from their existing home which they now wish to sell or let out.
With offices in both Prestbury and Bollington, neighbouring villages with totally different property profiles, the team at Holmes Naden handles a broad portfolio of properties, for sale and to let, across all price ranges.
Ellis Pembery, lettings manager at the Bollington office, has seen a distinct upsurge in activity within the local lettings market during the last year “Enquiries from new property investors; individuals opting to invest in a buy-to-let property as their future ‘pension pots’, have increased significantly.
Two bedroom terraced properties are of particular interest for those looking to buy in Bollington as they fall within an ideal price range for first time investors, circ +/-£150k dependent upon condition, and with rents within the range £695-£795pcm they produce an annual return in the region of 5%. In most cases, after assisting with the purchase, we have been retained to manage the properties for the new investors. Those in good condition are being let out almost immediately”
Both Ellis and his colleague and sales manager, Jan Johnson, live in the village and their local knowledge and extensive list of contacts prove to be invaluable to their clients.Holmes Naden’s Bollington office
“Properties in Bollington, Prestbury and surrounding areas provide a rural retreat whilst being within reasonable commuting distance to Manchester, with easy access to ManchesterAirport and the motorway network. Consequently demand is increasing” Jan told us “Three to four bedroom family properties are in short supply in Bollington at present, both in the sales and lettings sectors.”
However, that situation will change somewhat in the not too distant future as owner, Edward Naden, explained “Bellway Homes will soon be releasing a new housing development in Bollington which will comprise around one hundred primarily two, three and four bedroom family homes.”
Activity has also increased noticeably at the higher end of the price range in sales and lettings.
Ellis has seen a shift in attitudes when it comes to renting “Whereas only a few years ago many people would be reluctant to be seen to be renting their home, these days it is the modern way. Most of our tenants see renting as the ideal option for them and this trend is definitely on the increase.
Supply of ‘high value’ properties into the rental sector has also increased with families who may be moving out of the area for a while often choosing to keep their future options open by letting out their homes. Only two years ago we had just a small selection of such homes to let with rents in the region of £1000-£2000pcm and some would be on the market for quite a while, but not any more.
These days we are seeing large, prestigious properties in and around Prestbury and surrounding areas coming into the rentals market with rents as much as £5000-£8000+pcm.
Usually, they are not on the market for very long because they are proving to be ideal options for the footballers, and top business executives, whose professions require them to be able to relocate regularly and, sometimes, at very short notice. Some would rather rent than be repeatedly buying and selling at that level with the associated time scales, stress and costs involved.”
Referring to the recent house price inflation announcements Edward recommended some degree of caution, particularly to those contemplating putting their properties on the market in the near future “It is important to bear in mind that 9% is being quoted as the national average price increase. That means that price rises in some areas will be higher – 17+% in London and the south east for example – and in other parts of the country the rises will be well below 9%. Indeed, some parts of the country have actual experienced negative sale prices during that period.
Locally, price rises have not been consistent across the board. Price inflation for properties of various sizes, types, general condition and location has differed according to local supply and demand trends.”
If you are contemplating buying, selling, letting or renting a property in Prestbury, Bollington or the surrounding areas you would be well advised to discuss your needs in advance with the Holmes Naden team whose combined local knowledge and experience is second to none and who will ensure you achieve the most beneficial outcome for you.
Get a preview of what they have to offer at www.holmesnaden.com