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Property

Rightmove reveals how much first-time buyers will have to pay for a home in the North West

Everything you need to know…

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Rightmove reveal just how much you can expect to pay as a first-time buyer in your region.

Latest studies by Rightmove show that the North West has seen the biggest annual rise in property prices for first-time buyer homes with two or fewer bedrooms. 

The average asking price in the North West is up 8.6% over the past 12 months, the biggest increase in any region across Great Britain. 

The second biggest increase is seen in Yorkshire and The Humber with prices up 8.4%, followed by the West Midlands at 7.0%.

The average asking price for a first-time buyer is £200,578, up 3.9% compared to 12 months ago, equating to an annual rise of £7,475.

The average asking price in the North West in January 2021 is £144.453.

The only region where the asking price exceeds £400k is in the capital where the average is £474,950. However, London is the only region where first-time buyer property prices have fallen year on year with prices down 1.4% compared to a year ago. 

Rightmove

Tim Bannister, Rightmove’s data expert said: “Many people are deciding that 2021 is the year to get their foot on the property ladder, and this research provides an insightful snapshot into the first-time buyer sector across the British property market right now.

“What’s interesting for me is that, despite the higher asking prices in London, first-time buyers in the capital appear to have a window of opportunity to negotiate a good deal, with this being the only region to have seen average first-time buyer asking prices fall over the past 12 months.

“Conversely, sellers in the North West who are looking to trade up and move into a bigger home are in a strong position, with average asking prices for first-time buyer properties having jumped by 8.6% during the same period, which is a good indicator of a strong market.”

Richard Powell, Director at Ryder & Dutton with branches across East Lancashire, North Manchester and West Yorkshire, said: “I think first-time buyer homes have seen a boom in property prices because demand is outstripping supply.

“We’ve less properties for sale per branch than at any time since the late 1980s, which of course causes prices to rise. Having said that, people still want to buy homes and in many cases it’s no more expensive to buy in the North West than to rent, especially with low mortgage rates available.

“The North West possibly has a greater stock of properties that are more easily accessible for first-time buyers – places such as Oldham, Rochdale, Bury and Blackburn – these big, former mill towns have lots of terraced properties around the £100,000 to £200,000 mark that are available to buy.

“And coupled with more Help to Buy schemes and new-build developments, it’s probably easier to become a first-time buyer in this part of the world than many other regions, which also helps to push prices up.

“We’ve also seen a reluctance from people in their first homes to move up the ladder because they haven’t had confidence in the market to do so. Over the past four years or so with Brexit and now Covid, we’re seeing a lot of pent-up supply as well as pent-up demand.”

We chatted to a property expert last week to find out the top six places to buy in Greater Manchester this year, including Salford, Prestwich and Ancoats! See more here

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Property

Spanish town is offering free houses and jobs in a bid to convince families to relocate there

Fancy trading in the 9-5 grind for a life in the sun?

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@wherearemyshoesdude / Unsplash & mapio.net

A Spanish town is offering families free homes and jobs in an attempt to encourage them to move there.

Griegos, a small town in the north-east of Spain, has seen its citizens dwindle in recent years, with only 132 residents remaining. So in a bid to tackle this issue, the town is offering three houses to rent along with two jobs, while the town hall is offering three different jobs ranging from local restaurant work to home teleworking.

The very persuasive advert explained: “We offer you work in the kitchen and restaurant for you and your partner at the Paladar de Aragón, located in La Muela de San Juan. Or you can manage the Griegos hotel-restaurant, located in the square.

mapio.net

“If you are one of those who work from home […] You can telecommute and make use of our coworking.”

It is worth noting that only the first three months of your Spanish adventure will be free – after that time period has passed, rent will cost €225 (£194) per month, and families will get a €50 discount (£43) per child – meaning if you have two kids you’ll pay just £108 per month. 

Think of all the tapas and sangria you could buy with that extra money!

The only catch is that you have to be a family with children. Sorry, singletons. So, if you want to embark upon the next Spanish chapter of your life, you’ll have to be quick – there have already been over 3,000 applications from people all over the world who are keen to escape the hum drum. 

@wherearemyshoesdude / Unsplash

And, with the amount of competition there is, applicants are now being asked to submit a video message alongside their application explaining why they should be selected for the scheme.

If the project is successful, it could lead to other Spanish towns offering similar schemes in what is dubbed ‘Empty Spain’, where villages and towns are seeing a steady decline in population numbers.

The town mayor Salvador Gil has also requested €150,000 to update and renovate the town’s hostel to ‘make it more attractive.’

You can visit the original social media campaign here – better get brushing up on your Spanish!

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Property

Woman is raffling off stunning two-bed city centre flat and £10K spending money for just £5

‘I feel like a lot of younger people have less of these opportunities… So I thought maybe I could help somebody get themselves on the property ladder’

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Sushma Sharma

A newly refurbished city centre flat is up for grabs in an incredibly unique raffle opportunity. 

Sushma Sharma will be giving one lucky winner the chance to own her two-bedroom city centre flat completely mortgage free, all for the price of an expensive Northern Quarter pint. 

It’s no secret that property prices have been rising to unaffordable levels for the last couple of years – and, out of the half a million people living in Manchester’s city centre, a vast proportion have had to settle with renting rather than enjoying the luxury of owning their own property.

Sushma Sharma

Well, a new opportunity that could make the dream of being a homeowner a reality has now arisen.

Sushma bought the flat, which is located just a stone throws away from Deansgate and Manchester Cathedral, in 2002 when property prices weren’t so costly, and now wants to give someone else the opportunity to own the place she has called home for the last two decades.

Speaking to Proper Manchester, Sushma, who works as a school teacher, explained: “This flat has been my home, and I’ve absolutely loved living here.

Sushma Sharma

“It’s south facing so very light and airy and the windows are huge. From here, I’ve watched as Manchester has changed so much over the years.

“Though what I’ve really loved is the location – I live on my own, and I’ve loved being able to feel safe coming home. I’ve taken full advantage of living directly in the centre and having all the city’s best bars, restaurants and galleries right on my doorstep.”

Sushma paid to have the property fully renovated around five years ago, so it now includes a utility room, brand new flooring, a new kitchen and a larger bathroom.

Sushma Sharma

Yet despite her happiness in the flat, when her mum died after a long battle with lupus two years ago, she was spurred to make some big changes in her life: “I could continue to love living here, but I’m feeling restless – after losing my mum two years ago, I’m wanting a change of scenery.

“Because I’m fifty-three, I feel like I had a lot of better chances to be able to buy and own my own property. I feel like a lot of younger people have less of these opportunities because things are so much harder.

“It makes me really sad, so I thought maybe I could help somebody get themselves on the property ladder.”

Sushma Sharma

Sushma explained that she could very easily sell the flat through an estate agent, but it would give her more pleasure to be able to do something new and to help someone at the same time.

And thus, the flat raffle idea was born.

Hosted on the competition app and website, Raffall, Sushma has 50,000 raffle tickets up for grabs. Priced at just £5 each, the winner of the final draw will get the two bedroom flat complete with a car parking space, service charges paid for a year and £10,000 spending money.

Sushma Sharma

The property will also come with a TV, integrated kitchen appliances, a washing machine, sofa, coffee table, double ottoman bed and double wardrobe.

And, if all 50,000 tickets are sold, Sushma will not only donate £5,000 to Lupus UK, a charity helping those living with the rare and incurable illness, but will give another £10,000 to a different ticket holder in a second prize draw.

“That could be a deposit for someone else to get their foot on the property ladder themselves.”

Do you fancy your chances at being a city centre homeowner? If so, get your own raffle ticket here, and make sure to follow the raffle’s official Instagram page and Facebook Page for updates.

The raffle ends on Sunday, August 22nd at 9pm.

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Property

Haunted village in Scotland complete with beach up for sale for just £125,000

A ghost is a small price to pay to own an entire village…

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Goldcrest Land and Property Group

An entire village complete with its own private beach has been put on the market in Scotland, but there’s one catch: It’s apparently very haunted.

Because of course it is. 

Located on the idyllic shores of Loch Tay in Perthshire, the Old Village of Lawers is alleged to be haunted by a 17th-century ghost – but other than that, it sounds like a very lovely location. 

Goldcrest Land and Property Group

According to Goldcrest Land and Forestry Group, the 3.31-acre site boasts its own private beach, semi-ancient native woodland, a grass paddock with potential planning opportunity, trout fishing rights and ‘wonderful views across the loch.’

However, the village also comes with the ghost of the Lady of Lawers, who resided and died within the village hundreds of years ago.

The Lady of Lawers was remembered for her various prophecies – a number of which appear to have actually come true.

Goldcrest Land and Property Group

The brochure from Goldcrest Land and Forestry Group explains: “When she referred to ‘fire-coaches’ crossing the Drumochter Pass, she is said to have predicted the coming of the railway.

“She is alleged to have planted an ash tree at the northern end of the church, stating that when it grew to the height of the little spire, the church would fall. In fact, the church was so badly damaged in a thunderstorm, in which the ash tree perished, that it was never used again.”

Long before the construction of steamships, the Lady of Lawers had also once said: “A ship driven by smoke will sink in Loch Tay with great loss of life.”

Goldcrest Land and Property Group

But putting ghoulish predictions and curses to one side, the entire village is priced at just £125,000, which is cheaper than most properties here in Manchester so, if you think about it, it’s a total steal.

Historic Environment Scotland has described the site as ‘an upstanding and well-preserved example of a deserted settlement.’

Jon Lambert, partner at selling agents Goldcrest Land and Forestry Group, said: “This is an extremely rare opportunity to buy a part of Scotland’s heritage in one of the most beautiful places in the country. The sale offers a unique chance to be the owner and custodian of an area wonderfully rich in history, romance and tradition.”

For more information, visit the Goldcrest Land and Forestry Group website here.

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