How is the property sector? – We often get asked this by Investors, vendors and even tenants. As I’m sure you are aware the property market can change daily, a lot depends on what has been agreed with the bank of England, Government and of course your local area (such as planning permission etc.). The good news is we are starting to get back on track since the BREXIT vote, even to the point where we are seeing properties increase year on year as reported by Kate Faulkner. (The link to her article can be found here)
Macclesfield has had a sales increase of 7.9% year on year, this of course is good news, the rental sector is looking very promising too with a record number of applicants looking for a rented home.
Is now the right time to buy if you are an investor? Well that is the golden questions and if i could give you a guarantee i would be on a Boat somewhere in the Bahamas I’m sure! With property prices going up and the rental market so buoyant you would suggest it is a safe bet, of course we all know the market will not stay this way forever and what comes up must come down….Rental yields in Macclesfield and surrounding areas seem to be between 6% and 9% which are some of the highest yields i have seen for a while.
It has become very clear that the number of first time buyers are not increasing in Macclesfield as people are unable to afford the deposit for a new home so having to rent a property, this does mean that properties are renting at a good price and going quickly (sadly this is not the case with every single property but most of them) We have seen a high increase in Inventors around the Macclesfield area over the last year, this is up 22% year on year, with the town offering excellent commuting links to Manchester and London it suites a wide range of people from someone who is retired and wishes to have a quiet life 10 minutes from open countryside to your business owner.
If you are looking to Sell / Buy / Rent or Invest come and see us, we will give you the advice you are looking for and will ensure you make a fully informed purchase.