Promotional Feature
In general, house prices are rising in Alderley Edge - but what do the next 12 months hold for the Alderley Edge housing market? Let's start with working out what the state of play is right now.
The average house price in £570,718, which marks a 4% decrease overall compared to 2016 house prices. In keeping with previous years' trends, the most commonly sold and mortgaged properties this year are flats, which fetch average prices of £265, 492. Terraced properties in this region cost an average of £357, 884 in 2017, whilst detached properties are currently put up for sale for an average value of £1,164,855. Despite this 4% overall decrease on 2016 prices, several types of property in Alderley Edge are gaining in value. 2016 was a landmark year for detached properties in this region, for instance, because this was the year that the average value of a detached property was higher than anywhere else in the country this side of the M25 motorway.
2016 was also the year that house prices in Alderley Edge passed the million pound mark for the first time, reflecting the fact that this is a very desirable area to live in. Property prices are particularly high in the southern outskirts of the town. Overall, in 2016 around 40% of all of the properties for sale in the area went for more than a million pounds. Moreover 2016's house prices marked a substantial (15%) increase by the end of the year when compared to the prices in 2015.
So, what will the housing market in 2018 look like?
The plan to begin work on a 'designer village' of between 100 and 275 homes in Alderley Edge sometime in 2017 or 2018 looks likely to be the biggest event that will affect the housing market in 2018 (and beyond).
Market commentators have put forward arguments both for and against this new development, and it is as yet unclear whether it will take the form of infill building or whether it will involve redefining the boundaries of the greenbelt and building on what was previously greenbelt land. At the current stage of planning it also remains unclear whether the houses will all be built on the same site or whether they will be scattered across several different sites. It is likely that house prices will continue to rise in Alderley Edge in 2018, but that this planned new development will introduce some uncertainty into the mix. It might be best to seize the opportunity to buy a property in 2017, and to fix your mortgage prices now.
Eddison Wells is a mortgage brokerage based in Altrincham. With a wealth of knowledge, Eddison Wells is ideally placed to provide a comprehensive range of financial products. Providing the highest quality service at the most affordable price is a prerequisite and a firm ethos - visit their site at eddisonwells.co.uk, or call one of their advisors now on 0800 808 9981.
