Buyer interest is increasing as we are coming out of the pandemic, and Stockport has seen the one of the largest growths in searches for one- and two-bedroom flats.
In recent months, the UK 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 property portal website Zoopla. The website has also disclosed which areas have seen the largest areas of growth since the easing of lockdown has been ongoing, with Stockport, Scarborough and Cambridge being the frontrunners for the increase in 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, parents who have had children leave the home and first-time buyers are leading the charge on raising the demand for flats across the UK. Flats in Stockport and at the other locations in the top 10 offer urban and suburban living at a at a low cost in comparison to other areas in the country, so locations like these are proving to be goldmines to homeowners looking to relocate, despite feeling the financial brunt of the pandemic.
In the North-West, Stockport is revealing itself as a newcomer as a property hotspot. As a location, it sits on the edge of Manchester, with excellent commutability in the form of public transport routes and direct roads. With a commute time of only 9 minutes to Stockport via train, it is proving to homeowners who don’t want to commit fully city centre life that there are options to still enjoy all the benefits of city life, whilst not having to fork out for central city prices.
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.
In recent years, Stockport has become one of the largest and fastest growing economies out of the Manchester towns. The centre of Stockport is also part of a £1bn regeneration scheme, so it is set to continue growing.
The local council’s masterplan will transform the town centre with 3,500 new homes and more than 1 million square foot 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.