in the know

What does the future hold for house prices in Chorlton and Old Trafford?

There have probably never been more factors at play in the UK property market than there are right now. The national market is making steady progress as it moves through the middle of its current cycle. While the solid Conservative majority at the last election has created some much needed forward-visibility, the question now is ‘what happens to stamp duty?’.

So why are we so bullish about the market in Chorlton and Old Trafford? Well the data shows us that in the second half of 2019, sales levels were 27.4 per cent higher than the first half, which is even more impressive when we account for the levels of uncertainty which haunted the market. Based on market trends, we expect the price of the average home here to reach £251,000 by the end of 2021.

Projecting future price trends is never straightforward. The construction of new homes impacts on this heavily; residential developments will often increase the value of other properties in the area due to the way valuers use ‘comparables’. Other important aspects they consider when determining the future value of property are upgrades to travel networks and new businesses opening in the area.

The future looks bright for the local property market; now is the time to think about getting on it if you’re not already, especially while interest rates remain so low. If you would like to sell your property, pop into our office for a friendly chat with one of our local experts. We’d love to help. Alternatively, find us on social media.

Start your journey with us today on 0161 882 2233.