Areas of Stockport: Buy-to-Let Property Investment Hotspots
Stockport benefits from an ideal location between the booming city of Manchester, the Peak District and sought after Cheshire commuting country. So how does Stockport stack up as a buy-to-let investment location?
Why Invest in Stockport?
Stockport is a town and borough in Greater Manchester, North West England. It is historically part of the county of Cheshire and is administered by Stockport Metropolitan Borough Council. Stockport's population is around 297,000, with a population density of 6,074 people per square mile.
Stockport was traditionally a textile manufacturing town and was once the country's largest centre for hat-making. Today, Stockport is a key driver of the Greater Manchester economy, with an economy worth around £6.5 billion GVA, with approximately 13,000 businesses and a workforce of 124,000 people. Important industries include wholesale and retail, financial services, health and social care, manufacturing, creative and digital, and professional, scientific, and technical services.
Stockport has excellent transport links to Manchester and the rest of the UK. The M60 motorway and the A6 serve the town, and Stockport Train Station is on the West Coast Main Line, with direct services to Manchester, Birmingham, and London Euston. Manchester Airport is just five miles southwest of the town centre.
Stockport is currently undergoing a £1 billion regeneration programme, including the Stockport Exchange business district, the Stockport Interchange, and the Stockport Town Centre West Mayoral Development Corporation (MDC). The MDC aims to create a new urban village with up to 4,000 new homes and 1,000,000 sq ft of employment space. The Stockport Exchange development is already home to tenants such as Stagecoach, musicMagpie, Holiday Inn Express, and BASF.
Stockport has a wide range of shops, including the Merseyway Shopping Centre, The Peel Centre, and Redrock Stockport, a new leisure destination offering a cinema, gym, and eateries.
Things to see in Stockport include the Hat Works museum, the Stockport Air Raid Shelters, Bramall Hall, and Etherow Country Park.
Property Values
Property values in Stockport have been rising in recent years, with the average house price in the borough sitting slightly lower than the national average.
According to Zoopla, the average sold price for a property in Stockport in the last 12 months is £262,887, though obviously, different property types in the area have different sold prices. For example, as of May 2024, the average sold price of a detached house over the last 12 months in Stockport has been £417,334, while the average sold price of a flat has been £152,834. Semi-detached houses have had an average sold price of £304,600, and terraced houses £216,086.
According to OnTheMarket, the average price of a property in Stockport (as of March 2024) is £340,000, which, following a national trend, represents a 6% fall in sold prices over the last 12 months. However, another source suggests the average property price in Stockport is £321,000, with a median price of £262,000. The price of a newly built property in Stockport is £292,000, while an established property is £321,000.
Average Asking Price by Postcode Area
Last updated: August 2024
Data from propertydata.co.uk
| Postcode District | Average Property Price |
|---|---|
| SK1 | £186,458 |
| SK2 | £293,486 |
| SK3 | £266,173 |
| SK4 | £354,858 |
| SK5 | £219,976 |
| SK6 | £369,462 |
| SK7 | £497,911 |
Rental Demand
Rental demand in Stockport is high, with Rightmove listing the town as having one of the busiest rental markets in the UK in 2023 - the analysis is based on the number of enquiries that each rental home attracts. Like with most, large conurbations in the UK right now, demand in Stockport continues to outstrip supply.
According to Home.co.uk's Market Rent Summary for Stockport, the average rent in Stockport is currently £1,604 per month. Landlords can expect to earn an average of £914 PCM for a one-bed property, £1,256 PCM for a two-bed property, £1,446 PCM for a three-bed property, £2,441 PCM for a four-bed property, and £2,258 PCM for a five-bed property.
Rental yields in Stockport are strong, with landlords able to achieve long-let gross yields of 3.2-6% depending on the postcode area.
Average Rental Yield by Postcode Area
Rental yield is the rental return an investor can expect on their investment once costs have been taken into consideration.
Last updated: August 2024
Data from propertydata.co.uk
| Postcode District | Average Rental Yield |
|---|---|
| SK1 | 6.0% |
| SK2 | 4.8% |
| SK3 | 5.4% |
| SK4 | 3.7% |
| SK5 | 6.0% |
| SK6 | 3.5% |
| SK7 | 3.3% |
The Best Areas to Live In Stockport
When considering the best areas to live in Stockport, factors such as transport links, schools, parks, and local amenities come into play. Here is an overview of some of the most desirable areas within the town of Stockport:
- Cheadle Hulme: Cheadle and Cheadle Hulme offer a blend of traditional charm and modern conveniences. Cheadle boasts a lively main street, while Cheadle Hulme provides an easy commute to Manchester and a range of shops, bars, and restaurants. Housing options vary from modern apartments to traditional houses, attracting a diverse range of residents.
- Bramhall: Known for its compact centre and convenient commuter links, Bramhall is a popular choice for young professionals and families. It features a mix of semi-detached and detached homes, as well as independent shops, cafes, and restaurants. Bramhall Park adds to its appeal, providing a beautiful space for leisure and family outings.
- The Heatons (Heaton Moor, Heaton Mersey, Heaton Norris, and Heaton Chapel): The Heatons offer a mix of suburban charm and convenient transport links to Manchester. Each Heaton has its own unique character and amenities. For example, Heaton Moor is known for its vibrant social scene and variety of housing options, while Heaton Mersey is the greenest of the Heatons, offering good-sized homes and excellent outdoor activities.
- Davenport: Davenport provides a balanced lifestyle, combining suburban living with easy access to Manchester via its own railway station. The housing market varies from terraced houses to large detached properties, catering to different buyer needs.
- Hazel Grove: Hazel Grove stands out for its excellent transport links, a lively high street, and well-regarded schools. The area offers a range of shops, restaurants, and local businesses, as well as community events and sports clubs. Housing options include terraced, semi-detached, and detached homes, making it suitable for a diverse range of residents.
- Reddish: Reddish offers an attractive blend of affordability and convenience, with good transport links and amenities. Reddish Vale Country Park is a highlight for those who enjoy green spaces. The area caters to various buyer needs, with housing options ranging from terraced houses to larger family homes.
- Marple: Marple provides a semi-rural lifestyle on the edge of the Peak District, with a vibrant local community and a range of amenities, including independent shops, cafes, and restaurants. The housing market includes terraced houses and more substantial detached properties, making it ideal for those seeking a tranquil setting without compromising on convenience.
- Poynton: Poynton is known for its bustling village atmosphere and pedestrian-friendly town centre, fostering a close-knit community feel. The area offers a mix of housing options, from apartments to large detached houses, and boasts several well-regarded schools.
- Romiley: Romiley is characterised by its strong community feel and a mix of amenities, including excellent schools, local shops, and eateries. The area primarily consists of semi-detached and detached homes, making it ideal for those seeking a friendly suburban lifestyle.
- Woodford: Woodford offers peaceful, semi-rural living, with easy access to the larger Bramhall area for additional amenities. The housing landscape is predominantly detached homes and bungalows, attracting those seeking spacious and tranquil accommodation. Woodford also boasts beautiful green spaces, including footpaths and bridleways, for outdoor enthusiasts.
While preferences may vary, these areas of Stockport stand out for their desirable characteristics, including good transport links, reputable schools, vibrant communities, and a range of housing options to suit different budgets and lifestyles.
Property Investment in Stockport
Stockport has a very varied property market offering many different kinds of opportunities to property investors. Some areas of Stockport are inner-city areas and this is where much of Stockport’s cheapest property is to be found. Other areas of Stockport are popular commuter areas with property in these areas tending to be more upmarket and pricier. Stockport property types on offer include traditional terraces, apartments and suburban family houses.
Stockport town centre has great transport links by train and bus, has direct access to the M60 motorway and is close to all the town’s amenities. The town centre is traditionally a commercial area but there are plans to build more homes and make it more attractive as a residential location.
North Stockport districts are across the M60 and River Mersey from Stockport town centre. They include what are known as The Heatons. These are Heaton Chapel, Heaton Mersey, Heaton Moor and Heaton Norris. To the north east is Reddish made up of North Reddish and South Reddish plus Brinnington.
All the north Stockport districts have particularly good access to Stockport, Manchester and the motorway network via the A6. There are also train stations at Heaton Chapel, Brinnington and Reddish North.
Some parts of The Heatons are popular Manchester commuter areas with mid-higher price property. Reddish and Brinnington have more good value property.
Areas to the east of Stockport include Bredbury, Marple and Romiley. These areas fringe the Peak District and some are semi-rural with lots of green space. They have their own local amenities and train links into Manchester and are popular with families.
To the south of Stockport centre are the districts of Adswood, Davenport, Edgeley, Hazel Grove, Heaviley, Offerton Fold, Offerton Green, Shaw Heath and Stepping Hill. These areas have good access into Stockport and also Manchester, sitting alongside the A6 with frequent bus services plus train stations at Davenport and Hazel Grove. There are some good value areas amongst these districts.
Further out in the far south of the district at Woodford, a new garden village is being built on the site of the former Woodford Aerodrome. There will be over 1,000 new homes and new local amenities.
West of Stockport districts includes Bramhall, Cheadle, Cheadle Hulme, Gatley and Heald Green. These areas have their own local amenities and town centres known for their fashionable shops, cafes and bars. There are railway stations at Heald Green and Cheadle Hulme with frequent services into Manchester plus good connections to Manchester Airport. These are popular Manchester commuter areas and are generally higher-priced property areas. Some districts are also under the Manchester Airport flight path.