It seems that Stockport’s development and regeneration programme is also having an impact on the domestic, residential housing market as the Stockport new homes market looks to be vibrant.
The £1 billion plan of investment across Stockport is already having a positive impact on the business economy across the area.
Underlining the attractiveness and increasing popularity of living in Stockport, Bellway Homes is reporting a fantastic response from local homebuyers to its developments across the town. Homes are selling fast at Heaton Manor in Heaton Moor and Vision in Cheadle Heath, and the housebuilder only has a few properties left at its prestigious The Coppice development in Hazel Grove.
Sales director Louise Chamberlain said:
“Stockport is a great place to live and work and our homes don’t remain on the market for long. As soon as we release them we have people waiting to reserve. The market is very buoyant, reflecting the vibrancy of this growing town.
“Our range of properties at the former Mirrlees site in Hazel Grove include The Curzon, a great first time buyer home enabling young professionals to get onto the property ladder in an ideal commuter location in Stockport.
“Help to Buy is also available, giving purchasers the opportunity to choose a larger home that they might have felt was out of their reach.”
In April this year, Stockport’s Vernon Building Society reported profits of £1.3m, up 8% year-on-year, in spite of a difficult market.
The Society helped 250 home buyers in 2016, including 26 first-time buyers.
At the time, Mike Hanson, Chief Executive of the Vernon, commented,
“We have a responsibility to help local people buy houses and we will continue to develop new and innovative products to help meet this changing demand.”
According to the Guardian, government figures show that in the 12 months to the end of September 2016 the number of new homes that started construction in the UK in England was up by 4%, at 147,880. The net additions of housing, which factors in conversions and takes into account demolitions, shows that in the year 2015-16 just under 190,000 homes were added to England’s stock.
A House of Lords committee has called for 300,000 new homes per year in England.