Property Investment Location Focus: Stockport
It’s easy to mistake Stockport as just “a place the train stops at” on the way to Manchester Piccadilly, but this area has far more to it than just a viaduct and the infamous Stockport pyramid.
Look underneath the arches and you’ll find a bustling bunch of neighbourhoods expanding by the day. While Stockport’s suburbs mean the town can’t be given just one identity, the charm of the places that make up the area will have you sold in no time.
Historically, Stockport was known for hat production, with the town exporting over 6 million hats around the world, and the local football team Stockport County earning the nickname ‘the Hatters’. More recently you may have heard of indie-pop band Blossoms, who call Stockport home.
Whether you’re a first-time buyer, a renter looking to escape the city centre, or an investor looking to add to your portfolio, Stockport is a location to put on your radar.
So where is it?
Nestled between the leafy villages of north Cheshire, and the hustle and bustle of Manchester City Centre, Stockport offers the best of both worlds and can cater for every budget.
The boroughs within Stockport show a great mix of family neighbourhoods and a lively town centre, and with many new bars and restaurants starting to call the townhome.
For those looking for a permanent base free of the ever-increasing rental costs of Manchester City Centre, you’ll be pleased to hear Stockport has excellent public transport links. In less than 10 minutes you can be back to Piccadilly, and Liverpool Lime Street can be reached in 70 minutes.
If you’re relocating from the south, London is a mere two-hour train journey, and the town is well connected via the M60 motorway and A6. Manchester Airport is also just five miles away.
Its proximity to natural beauty spots shouldn’t be overlooked either. Stockport is just a 40-minute drive from the Peak District National Park, which offers some of the best walking routes in the northwest.
What is there to do there?
While the COVID-19 pandemic has undoubtedly had an impact on most towns and cities across the UK, Stockport’s growth plans show little signs of slowing down.
There is a growing cafe and bar scene gaining traction in Stockport town centre, not to mention the independents popping up across the Heatons – Chapel and Moor. Heaton Hops is well worth a visit for cask ales, and Pokusevski in Heaton Moor is a great lunch spot. a great lunch spot.
We can’t talk about the food and drink scene in Stockport without an honourable mention to Foodie Friday. Temporarily on hold due to the pandemic, the popular food and drink event hopes to return on the last Friday of every month in the summer.
Set against the backdrop of historic Stockport Old Town, there’s a real buzz around Stockport market as hundreds of people gather together for street food, craft ales and live entertainment. Every Stopfordian knows it’s not to be missed!
Why buy a home in Stockport?
It’s no secret that Stockport has been tipped for big changes in 2021 and beyond. With a number of schemes involved in regenerating the borough, there’s never been a better time to jump on Stockport’s property ladder.
Stockport borough and the surrounding villages are quickly becoming home to some of the most sought after postcodes, there are plenty of areas for first-time buyers to get involved in too.
One of the most appealing aspects of Stockport borough is the range of properties available. There are period properties like Victorian terraces and larger detached homes, to cute cottages and quirky coach houses.
The Heatons (Chapel, Moor and Mersey), Hazel Grove, Cheadle, Cheadle Hulme and Bramhall are some of the most popular places for those looking for their forever home and are surrounded by good schools and trendy independent shops. These areas are highly desirable, and properties can be sold for upwards of £400,000.
For first time buyers on a smaller budget, consider Edgeley. The average property prices in the area are around £188,000 and there is local access to schools, restaurants, Alexandra Park and great transport links.
What about investment?
As one of the most sought after residential regions of Greater Manchester, there’s a high demand for property in Stockport.
Between 2019 and 2020, Stockport saw the highest annual increase in searches for homes to rent, with a 31% rise annually.
With the promised investment to regenerate the town centre, and the average house price continuing to rise, there’s no doubt that Stockport is an attractive place to invest.
House prices are still on the rise, with the average home now priced at £253,672, a 10% rise since 2019. This puts Stockport far above the national England average of 2.8%. The location, ease of commuting, and regeneration of the area means house prices show no signs of slowing down.
There are several promising signs for buy-to-let investors in the area, as the employment rate is higher than the national average, with many of the residents being young professionals.
Stockport entered into the top ten of best buy to let locations in the UK in 2018, and shows little signs of shifting. However, Stockport is one of the most expensive boroughs of Greater Manchester, so rental yields are around 3-4% for the area.
Whether you’re looking to get a foot on the property ladder, are a renter looking for a change of scenery or a landlord with an expanding property portfolio, our team of experts can help you. Get in touch with us today.