With the festive period behind us, it’s time to reflect on the Levenshulme 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!
Levenshulme is ideally located between Stockport and Manchester and provides residents with convenient transport links, as well as a range of excellent local amenities, making it ideal for young couples, first-time buyers and professional persons.
Since November, house prices in Levenshulme have remained stable, with properties bellow £300k remaining the most popular. These are typically two-bedroom terraced or semi-detached homes which are ‘ready to move into’. The condition of the property appears to be of increasing importance to buyers. 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 borrow more money against the mortgage due to a lack of disposable income.
Total property sales in Levenshulme over the past three months have been valued at £30.7m, with 88% 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.
Despite the festive period, Edward Mellor have outperformed out competitors with new instructions and achieved a market share of 17.4% of all homes brought to the market in December*. Contradictory to last month, there are almost double the number of sales in comparison to new instructions this month*. This could be due to people’s reluctance to sell over the festive period, however it does make the Levenshulme property market a seller’s market.
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 Levenshulme branch for more information. Either call us on: 0161 532 7594 or email [email protected] to speak to a member of our experienced team.
The average sale price for properties in Levenshulme over the past 12 months is £237.347, which is a 2% increase in annual sales prices and a 32% rise in sales prices over the past 5 years**.
With the increased sales prices and buyer’s current preference for ‘turn key homes’, our advice to vendors is to focus on the condition of the property; renovate the home before going live on the market at a higher price. This appears to be far more attractive to buyers in alignment with the current trends.
We have a plethora of success stories this month and it’s no surprise after we sold 12.2% of the market during December. One such property is a stunning three-bedroom family home on Eltham Street within the heart of Levenshulme.
Our Levenshulme team used an offers-over-pricing strategy and achieved £20k above the initial valuation price. Overall, this shows how popular ‘turn-key’ properties are currently. With the correct marketing strategy, they can achieve a quick completion for well over the asking price.
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 Levenshulme property market from 01/12/24 – 31/12/24. The postcodes included are M13 0, M13 9, M19 1-3 and M12 4
**dataloft, Levenshulme property sales overview, accessed December 2024
