House prices in the North West have more than trebled over the past 20 years
In 1999, the average house price in the North West was just over £50,000. Twenty years later, the typical cost for a house in the region was around £164,000.
House prices in the North West have skyrocketed over the past two decades, new data has shown.
Estate agent Coulters Property reported the findings after conducting research on the changing landscape for first-time buyers.
Coulters also found that whilst property costs have risen sharply; earnings have lagged behind.
In 1999, the average house price in the North West was just over £50,000. Twenty years later, the typical cost for a house in the region was around £164,000.
During the same time period, average salaries rose from £16,000 to just £28,000.
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Mike Fitzgerald, Coulters Executive Chairman, said the stats reflected modern disparity between personal income and property prices.
“Although being a first-time buyer is exciting, over recent years, the affordability gap has stretched and continued to do so every year, making it difficult to make the first step onto the property ladder,” he commented.
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“In these uncertain times, these inequalities have been made much more apparent.
“There’s no questioning that wages have increased with the rate of inflation, but have they increased enough? Despite recent schemes such as Help to Buy or part-ownership, house prices are expected to increase, with the possibility of a 15% increase over the next five years or so.”
However, despite the deflating data, Mr. Fitzgerald emphasised that support was available for first-time buyers in Britain.
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“It’s important to seek all the information you can when considering getting a foot on the property ladder and not let the numbers put you off,” he explained.
“There is so much support and often a price bracket to meet first-time buyers’ needs.”
Mr. Fitzgerald continued: “Capital returns on property are traditionally strong, but like all investments the returns need to be measured over a sufficiently long period of time to flatten out short term spikes and dips in values.
“If done sensibly the outcome and rewards are certainly worth it, not only in financial terms but also in the pleasure that home ownership can bring.”
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This is Fusion Manchester’s brand new state-of-the-art student accommodation in Deansgate / Credit: Darren Robinson Photography (Supplied)
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Fusion Manchester is nestled in the heart of Deansgate, making it less than a five-minute walk to Deansgate Train Station or tram stop, as well as being in prime proximity to the University of Manchester and Manchester Metropolitan University which are both around 20 minutes away on foot – ideal when you’re running late for a class.
It also could not be in a better spot for making plans on the weekends with new friends, as it’s just a stones-throw away from some of the best cafes, restaurants, concert and retail spaces that Manchester has to offer.
The rooms boast incredible panoramic views / Credit: Darren Robinson Photography (Supplied)
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Featured Image – Darren Robinson Photography (Supplied)
Property
Manc architects submit plans to demolish 1970s office block and make way for new residential area
Danny Jones
A Manchester-based architects has submitted promising proposals to demolish an old 1970s-era office block and make way for a brand new residential community in Stockport.
The vision seems fairly ambitious and lofty – pun intended – but the potential outcome could be stunning.
Ollier Smurthwaite (OS) Architects are the local practice behind the new housing plans, which will not only provide nearly 300 new homes but also bring part of the Stopfordian skyline down; it’s not often you hear of things getting lower when so much of Greater Manchester just keeps building up.
Sharing the first proper glimpse at what they hope the redeveloped corner of the busy A6 main road will look like, many have been pleased to see familiar red brick and a traditional feel as opposed to more glass towers.
Writing a lengthy caption alongside the social media post, the OS state, “We are preparing a planning application for the St Christopher’s site in Stockport.
“Located at the prominent junction of Wellington Road South and Longshut Lane, the proposal aims to transform the prominent corner by demolishing the existing 10-storey 1970s office block to make way for a new residential community.
“The proposals are for a modern ‘mansion’ block with taller ceilings, more windows, better communal areas and private gardens.”
It remains to be seen at what price point these apartments will be available for.
Promising a total of 278 ‘new dwellings’, the scheme will crucially see the height of the existing plot lowered to fall in line with other neighbouring properties, as St Christopher’s House currently sits well above the nearby terraces and its metropolitan style does stand out against the surrounding brickwork.
The early reception to the proposed plans looks to be largely positive, too, with one user commenting online, “A very nice looking building with character. More of these please”; another went so far as to add, “These are the sort of modern buildings that will become grade listed.”
It’s also worth showcasing what exactly these blueprints look like when they’re brought to life, such as another development over in Longsight:
Render vs Reality. We recently completed our Daisy Bank scheme in Longsight Manchester for 72 new homes. The scheme takes contextual references from Dalton Ellis Hall & Victoria Park Christian Fellowship in the adjacent conservation area.@createstreets@archi_tradition… pic.twitter.com/DasRUtaylh
Safe to say that seeing what businesses trying to regenerate boroughs actually deliver compared to their initial mock-ups is always useful.
The award-winning firm goes on to add that “the building will be deliberately stepped back from the pavement to create a planted tree-lined avenue”, which will also revolve around a central courtyard and residents’ gardens, with ground-floor flats benefitting from private patios.
CGIs of shared communal roof terraces also give the designs that added modern look, with few other places in the vicinity offering this kind of space. It could be a welcome addition to the region that is already going through plenty of change at the minute.
Another big construction scheme is the one being carried out by Capital and Centric over the new Weir Mill district, which could be transformational for the town centre.
The Manc -
23rd July 2020 
