Chorlton Trend

A common adage that passes the lips of many a Chorlton resident is ‘Once you move to Chorlton you never leave‘ such is the desirability of the area and the general appeal of the area (a slight nod to the perfect lives of the film Stepford Wives).  So apart from the residents that are up-scaling to bigger homes people are staying put.  A trend that is noticeable is that someone moving from a smaller home to a bigger one is keeping the small home and renting it out, using this as an addition to a pension fund.  Families that are considering leaving the area but are unsure of leaving the leafy and wholesome delights of Chorlton are now renting out their family homes and renting for a trial period in the new area they want to try out.  The worry being is moving costs and stamp duty makes a move from Chorlton to another family home cost in the region of £20,000, this teamed with the uncertainty of not knowing if the new area is 100% suitable and that the prediction that if you leave Chorlton you won’t be able to afford to buy back into the area, the prediction is there is going to be a 15-20% increase in property value in Chorlton in the next 2 years, this is a huge factor in this decision.  Rents have reached stratospheric levels, an unfurnished two bedroom terraced has potential tenants flighting over them at £850 per month and a three bedroom period home goes quickly from anything from £1000 upwards.  Due to the high desirability of Chorlton, house prices are going upward, new properties being built is not going to happen as there is no where for them to go, so this means the existing stock will increase in price as so few properties are coming on the market for sale.  There are a few vendors who have attempted to cash in on the demand with inflated prices, fortunately our vendors take our advice in where to gauge the appropriate sales price.