With the festive period behind us, it’s time to reflect on the Hyde property market and evaluate Edward Mellor’s performance this December. As we head into the new year, we are dedicated to providing expert and reliable services to our clients.
Let’s take a look at how we ended yet another successful year!
Hyde is a highly desirable area, often favoured by first-time buyers, young couple and professional persons. This is due to its variety of convenient local amenities, such as shops, food/drink establishments and reputable schools. Furthermore, Hyde boasts five train stations that provide transport links to Stockport, Manchester City Centre and the surrounding North West.
December appears to be no different with first-time buyers flooding to Hyde! The abundance of two-bedroom terraced properties available makes the area highly attractive to new home owners. The popularity of ‘ready-to-move into’ homes has continued from last month, with buyers preferring a more expensive property in good condition to an investment home that they’d need to refurbish later on. This infers that the average deposit size for buyers appears to be smaller and there is less available cash for renovations or home improvements. Buyers are preferring to pay a higher price for a ‘turn-key’ property and then will borrow more money against the mortgage due to the lack of disposable income.
Total property sales in Hyde over the past three months have been valued at £32.6m, with 90% of these sales involving homes rather than flats**. This strongly suggests that buyer interest in the area is coming from first-time home buyers, growing families and landlords who are expanding their portfolios, rather than individual buyers looking for small flats.
During December, there were 31 new instructions in Hyde and 29 sales*. This means that supply is currently meeting demand and the property market within Hyde is thriving.
If you were thinking about listing your property with us then now is the perfect time to do so!
Start your new year with a bang and contact the Edward Mellor Hyde branch for more information. Either call us on: 0161 368 0950 or email [email protected] to speak to a member of our experienced team.
The average sale price for properties in Hyde over the past 12 months is £195.340, which is a 1% increase in annual sales prices and a 29% rise in sales prices over the past 5 years**.
To accommodate the increased sales prices, we comparably price our properties to generate a high level of viewings which increases the chance of completion and achieves the best price for the vendor.
Furthermore, our bank of hot buyers gets alerted of a property prior to it going live on the market which contributes to the high level of interest we achieve.
We have a plethora of exciting success stories this month and it’s no surprise after we’ve sold 17.2% of the market to become the number one estate agent within the area*.
From 09/12-15/12 our Hyde team successfully sold seven properties within the week, one of which was a modern two-bedroom apartment situated in Godfey Mill, Commercial Street. This is a fantastic achievement and down to the expertise of our superb Hyde team and our extensive hot buyer bank.
With over 40 years of proven experience in helping people buy and sell property, our local teams are on hand to help clients at every stage of their property journeys.
If you would like to sell a property in the New Year, now is the time to list your property to fully capitalise on strong buyer interest going into 2025.
*According to data sourced from Rightmove, reflecting the Hyde property market from 01/12/24 – 31/12/24. The postcodes included are SK14 1, SK14 2, SK14 4 and SK14 5.
**dataloft, Hyde property sales overview, accessed December 2024
