Whilst only at the consultation stage, plans by Greater Manchester Councils to increase housing are set to directly impact SK8. The proposed sites are part of plans to build 225,000 new homes across Greater Manchester over the next 20 years.
Will this affect the value of my house?
You shouldn’t see much movement initially, but as more houses and therefore options of where to live become available, we may see the market turn in favour of the buyer rather than the seller as it is now.
Further, If you are a landlord or thinking of buying a second-home, this is prime-time to be looking at offers that may become available. We know that with most developments, a small number of sites will be sold before the units are built and these usually offer a very favourable discount.
Buy to let?
Our own data suggests, that once a property becomes available for let in the SK8 or the nearby M22 area it is usually days, rather than weeks that it takes to find a tenant. Moreover,as we see more jobs becoming available with big companies in the area, for example, Virgin Media and the new Amazon warehouse we predict SK8 and the nearby M22 area will be a hive of rental activity.
It is important to note, the plans don’t just contain big clusters of houses we’re seeing whole new communities being mooted. A well-placed retail unit can bring in substantial rental income as a landlord. In our experience, you are usually guaranteed a longer rental period from businesses who let out retail space as well.
Will it affect me negatively??
A major concern for current homeowners throughout SK8 is the potential increase in traffic especially alongside or near the A34. I live locally and I try to avoid the A34 at all costs during rush hour – I also know other residents have complained about this issue to Stockport Council and local leaders have asked for reassurance. The paper is clear that they are aware of the congestion issue calling it ‘severe’ but believe it will be eased by the opening of the A6-MARR road in late 2017. They also add, that if the development was to gain planning permission that “highway infrastructure is a prerequisite for its (housing plans) delivery...”
Can I have a say on these proposals?
Local leaders agree that there is a shortage of housing but are opposed to mass development on green belt. Instead favouring projects to develop derelict buildings and disused industrial sites. Further, there is concern that SK8 is taking the majority of new houses over other areas in the Stockport and this issue has been raised. Whatever the outcome, be sure to have your say on the consultation which ends on December 31st. Search Greater Manchester Framework Consultation