Investing in Stockport in 2023?
Welcome to the first of the new blog posts series I will be writing to help landlords looking to invest in 2023.
The aim of this blog is to offer honest advice on the property market in Stockport as we move into the New Year. I will be sharing my thoughts on the property market, alongside offering up buy-to-let deals we have coming to market with Julian Wadden or deals I see elsewhere in the market.
With house prices dipping in the latter stages of 2022, there was some uncertainty as we moved into the New Year as to where the market would go. The good news, however, is that rental prices were on the up (and still are). So if you are a first-time landlord looking to invest this year, a current landlord looking to expand your portfolio, or simply looking for advice and my opinion on the Stockport property market, I can assist.
We will begin with where best to invest in property this year. Throughout 2022 in Stockport, each individual area has had great success in achieving high rents with exceptional demand. Some key areas for myself, however, where I saw high rent growth alongside an abundance of interest are: Edgeley, Reddish, Portwood & Shaw Heath. With these areas being close to transport links and offering an opportunity for couples to rent together and start a family, two-bed terraces in these areas were a sure bet on maximising rental returns with good quality tenants.
In terms of where I see the market heading this year, I believe there will certainly be a drop off in sales prices. This was needed, in my opinion, with the heights they have reached over the previous two years. The hike in interest rates has hindered the number of first-time buyers looking to purchase. Couple these two things together, and I believe there will be more opportunities for landlords to pick up suitable investment properties at a reasonable price as the year goes on. You will still achieve high rental returns due to the ongoing lack of rental properties coming to the market.
For a conversation on how I can assist you in achieving your investment goals this year, please reach out to me directly on 0161 474 8668 or 07384 810881. My email is email@example.com
Liam Foster – Lettings & Investment Manager – Stockport