Three reasons to be excited about the value of your Cheadle home
We’ve seen it all when it comes to the Cheadle property market over the last 20 years. People have come and gone, homes have been bought and sold, families have moved in, children have moved out and empty nesters have been born. But one ever present reality in the Cheadle property market is the relentless march of house price growth, much to the benefit of local residents.
The first reason any homeowner in Cheadle should be excited, is that their home may be worth a lot more than they think. There’s a lot of doom and gloom in the media at the moment when it comes to the housing market. Yet the reality is that average prices here are now 181.7 per cent higher than they were in 2000 and have grown 29.8 per cent just since the credit crunch.
Next, is the growing desirability for our beautiful area. Stockport has one of the highest employment rates in the country. House price growth depends on a ‘dynamic equilibrium’ of supply and demand. While there has been some house building, however, not nearly enough, the ever-broadening appeal of the area means that demand still outstrips supply and house price growth looks very sustainable as we go into the next housing market cycle.
Finally, comes the future. Standing as we are on the cusp of another housing market cycle, house price growth is likely about to ramp up significantly. That means anyone moving now stands to gain the most from the next cycle. If you’d like to know more about the Cheadle market, just pick up the phone as we would love to help.
Average prices here are now 181.7 per cent higher than they were in 2000
The annual sales split (houses vs flats)
In some parts of the country, the split between house and flat sales is very extreme while elsewhere there is more of a balance. It primarily comes down to how densely populated the area is. Rural, semi-rural and suburban areas are dominated by houses whereas urban districts are awash with flats.
Property prices by house type
The last few years have been something of a roller coaster ride for property markets up and down the country, fortunately our area has remained much steadier and more consistent than many other areas. Here we show how prices of different house types have changed relative to one another over time.
Local occupancy ratings
Some people rattle around in their home like two beans in a can whilst others are packed in like sardines in a tin. There is a formula, created by the Office for National Statistics which gives the occupancy rating of each home. This number shows whether a property has the ‘right’ number of rooms given the number of people living there. This shows the picture in our local housing market.