The data . which allows people to track the cost of UK homes since 1995 for the first time . shows the average property price in Stoke-on-Trent was £32,000 in 1994 20 years ago.It comes as plans to build 1,700 new homes in Fegg Hayes, Middleport, Hanley and Meir were approved last year.
Stoke-on-Trent is in the top four cheapest places to buy a house in England and Wales, according to new figures. With latest Land Registry data showing the average Potteries house price now stands at £69,862.
Here at Martin and Co we are seeing signs that the Stoke-on-Trent's property market is showing real signs of recovery . it still has a long way to go before it hits the peak of £91,532 of December 2007. Properties still have to be priced realistically to sell but where they are there are people looking to buy. The is a lot of affordable housing in the area with more than 50% of the local housing stock being made up of traditional Victorian terraced houses which appeals to both investors and first time buyers. These are usually good solid housing often in need of some modernisation but this can be done relatively cost effectively.
Property experts say the bargain property prices are linked to the low wages paid in the city.
The latest Land Registry data comes as council officers are attempting to build bigger and more expensive homes in the Potteries.
Plans have already been approved to build hundreds of homes within part of Wedgwood's Barlaston HQ and designs are also being drawn up for 'executive' homes in Penkhull and Hanford. With the ongoing investment in the area we are the third fastest-growing, albeit from a low base, city in the country and there is increasing demand for new homes. The availability of low-cost homes is a key part of the housing mix and ensures that first-time buyers have a chance to get on the property ladder.
At Martin and Co we have a good selection of properties for sale and rent, if you are looking to Buy or Sell, rent or have a property you wish to let then please call us for free, no obligation advice from our team of local property experts