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Houses prices rise in Stretford

Houses prices rise in Stretford

Written by: Category: Buying January 28, 2017

Houses prices rise in Stretford – but why?

Located less than 4 miles from the heart of Manchester, Stretford has a population of 37,500 and is an area that is known all over the world. The ease with which Stretford rolls off the tongue may owe a lot to sporting venues and famous musicians but in the present day, there is a growing level of interest in Stretford.
Stretford is a town on the rise, and this can be seen in the rise of property prices. In October of 2015, the average property price stood at £128,655 and by October of 2016, this had risen to £177,949. This represents a rise of 38%, which is clearly well above the national average or what would be expected over the course of a standard year.
The statistics show that house prices are rising in Stretford, but statistics don’t tell the reasons for this change. There are a number of key factors involved in the changing nature of property prices in Stretford, and there is cause for optimism when looking at the longer term property market.
Stretford has good transport links
An important factor for any local area is how well it is connected to other areas, and this is something that Streford benefits from. The Stretford Metrolink Station is located on the Altrincham to Bury line of the Manchester Metrolink. Between 7.15am and 18.30, there are trams running every 6 minutes, which means that there is a very regular link to and from the heart of Manchester. At all other times the tram service operates, there is a train every 12 minutes, which equates to 5 every hour. This should ensure that people living in Stretford can get in and out of the city centre with a minimum of fuss or effort.
There is also the fact that Stretford is handily located to the motorway, with the M60, and Junction 7, lying just to the north of Stretford. There is also the A56 road, which provides access to the south and to the city centre of Manchester. For people looking to move further afield, Manchester Airport is located less than 10 miles from the town.
Businesses draw people to Stretford
The strong transport links are of great benefit but the fact that so many thriving and emerging businesses are setting up in and around Stretford is another factor in why there is more demand for properties and increase in property prices.
Business sectors like the financial and insurance sector, the information and communication sector and the scientific and technical sector are all recognised as being sectors that positively impact on the economic level of an area. These sectors are said to make up 25% of all businesses in the United Kingdom and many business experts have classed these sectors as the “golden sector”. Nationwide findings have shown that areas which have a high proportion of these businesses in the local area will have house prices that are better than the national average.
Stretford, and the borough of Trafford, has seen wave after wave of these businesses set up in the local area. By mid-2015, there had been a growth of 37% for “golden sector” businesses setting up in the area over a five year period. This is the sort of sustained development that has an impact on the property market, and Stretford has benefitted from their presence.
With the factors that have impacted on the Stretford property market in recent times still being relevant, there is optimism surrounding the future of the housing market.

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