The Manchester property market is commonly regarded as one of the most competitive in the UK.
A thriving economy and abundant job opportunities keep properties in high demand, which naturally spreads to the surrounding areas in Greater Manchester.
Cheadle is one such location that gains a lot of attention from buyers hoping to buy in and around Manchester, but what should the uninitiated know about this location in their search?
Whether you’re a first-time buyer or simply a first-time mover, here’s a short guide to buying a house in Cheadle.
Cheadle is a village in the Metropolitan Borough of Stockport, placing it among the southernmost settlements in Greater Manchester.
Cheadle itself shouldn’t be confused with either Cheadle Hulme or Cheadle Heath, which are their own suburbs bordering Cheadle. Knowing the distinction between them can a small but helpful advantage in your house hunt.
Cheadle enjoys good public transport links between neighbouring areas as well as Manchester itself, and is a mere four miles from Manchester airport.
The village holds a long history as a settlement in Britain. Those looking to live in South Manchester but still enjoy the peace and greenery of a village that has its own thriving high street will find Cheadle an attractive prospect for a house purchase.
What are house prices in Cheadle like?
Property prices in Cheadle are on the high side when compared to the region of £232,000 wherein average first-time buyers in the UK fall.
According to Zoopla’s property price index, the average sale price of properties in Cheadle over the past 12 months is £353,563.
Terraced houses, which are commonly cheaper than detached or semi-detached properties, still sit above first-time buyer averages at £266,391.
These numbers are collected from 673 property sales over the previous year. Considering Stockport itself saw 2,814 property sales over the same time period, Cheadle alone makes up an impressive 23.9 per cent of Stockport’s property sales for this time period.
This goes some way to showing the level of activity in Cheadle and the competition it is generating. Understanding this level of competition and being prepared for it will help a lot when trying to secure a home in Cheadle.
What do Cheadle house buyers need to know?
Using Zoopla’s 12-month averages for Cheadle house prices – excluding the sale prices of flats – gives an average price of £364,762 for houses regardless of detachment from neighbouring properties.
For first-time buyers looking for a mortgage, this means that a 10 per cent deposit alone will cost an average of £36,476.
Factoring in the other costs of buying a house such as Stamp Duty Land Tax, conveyancing, and surveys, it would be wise to assume at least an upfront saving approaching £50,000 on average for a house purchase in Cheadle.
This will of course vary depending on whether certain services are left out, such as a survey, and the amount of deposit a lender would ideally accept.
Being such a close and significant city, Manchester will influence the housing market in Cheadle in its own ways. Lying within easily commutable distance to each other, many people who work in Manchester will find a home in Cheadle a reasonable distance from their job and so the demand for housing in Manchester spills over into Cheadle and surrounding areas.
The large neighbouring town of Stockport presents another reason for people to search for properties in Cheadle, being within cycling distance of one another.
Investors looking to buy property in Greater Manchester will want to consider Cheadle thanks to the general demand of property in the area coupled with the handsome sale prices of property in the borough itself. 2021 saw the property market in Greater Manchester reach its ‘craziest’ point in two decades.
The North West market reached an incredible high with some homes selling the same day they were put up for sale and others reportedly selling for more than £50,000 their asking price.
In such a hectic market and a focal point for buyer demand, it’s no surprise that people wanting property in Greater Manchester would widen their scope and look to the surrounding areas such as Cheadle.
Can I purchase a home in Cheadle?
Seeing the competition can easily make a homebuyer despair, but the property market often requires a tough mind and a lot of patience.
Those with their heart set on Cheadle may need to be prepared to view homes quickly and offer above their asking prices, but each seller is different and some may consider an offer from one buyer over another for any number of reasons.
In any case, to get the best help and advice when looking to purchase a home in Cheadle, you’ll want to take on the services of an experienced estate agent.
Buying property in Cheadle with Mistoria Estate Agents
Our Mistoria Estate Agents Cheadle office is your solution to the puzzle of buying a house in Cheadle. Our team draws on extensive knowledge of the Manchester property market, giving you the most accurate and honest advice that allows you to make wise decisions and smart moves.
To find out more about buying or selling property in Cheadle, Stockport, Greater Manchester to learn more about our estate agency services, contact us today or speak to a member of our team on 0161 519 9554.