Buying City centre property

Gaudion M said:
I moved to house about 2 mins from a train station and it has been a life changer. You waste so much of your time commuting and you don't see it until you don't have to. Right now I can leave my house at 8:25 get the 8:34 comfortably and be at my desk for 8:50.

Buying in the city is higher risk on capital values - as WW said the market is driven by investment and when that stops it will be like a switch going off - a lot will depend on the supply at that time, if some big schemes are completing the market could die a death - if not then it could be ok as schemes in the pipeline just won't get built.

That said the higher end will be less impacted - investment yields do not work for premium apartments and they tend to go to owner occupiers - people with serious cash tend to buy them.

On balance - I would pick a couple of stations in nice areas: Marple - Heaton Chapel - Wimslow - Bramhall - Cheadle Hulme - etc. And buy something within a 5min walk. If you can find something cheap you could rent out afterwards then even better but you might need all of your cash, capital value will be solid though.
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That’s so true! I’m very lucky to live a 3 min walk (currently) from the metrolink ... thanks!
 
brooklandsblue2.0 said:
Argh.... not what I wanted to hear but I think you’re right, I just liked this apartment/building. Still going to view it tomorrow after work but think my heart was ruling my head!!
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To be honest if it is a decent building and a decent location it will always have demand. Even in the midst of the crash there was steady demand for the best schemes/buildings in town - I know as i was looking to buy some on the cheap and they weren't cheap. It's the ones on the fringe and/or poor design/maintenance where the market dies a death.
 
Stockport is being rebuilt as a dormitory to Manchester. Everywhere you look property is being converted into apartments and new apartment blocks going up near the railway station. Stratagem is, why pay Manchester prices when you can commute in 10 minutes. On top of that Stockport is turning itself into a destination for Beer drinkers to attract people to live in the town.
 
Blue Llama said:
Stockport is being rebuilt as a dormitory to Manchester. Everywhere you look property is being converted into apartments and new apartment blocks going up near the railway station. Stratagem is, why pay Manchester prices when you can commute in 10 minutes. On top of that Stockport is turning itself into a destination for Beer drinkers to attract people to live in the town.
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Stockport Town Center could go one way or the other. There is massive scope for town center living. As you say the Train station has great links to Mcr and London and there are loads of old Mills that are perfect for Resi conversion. On the flip side the Retail is dying a long slow death. There is not much left and more still to close.

The town has never had a decent balance - there was no nightlife / leisure scene for years as Grand Central was dog rough and rightly shut down. The new Cinema scheme has been in the pipeline for at least 10 /15 years and its a bit underwhelming to say the least given it was the answer to all the problems. The Council should have gone much further - maybe they will. There are signs of life - the pubs around the Market are much better its just the huge ugly retail center, increasingly full of empty shops, that is dragging it down. Big chunks are owned by companies in administration - if the rent dries up (which it is) then nothing to stop the council stepping in and sorting it out.
 
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