Manchester City Council have confirmed that just over 300 properties in Moston will be covered in their selective licensing area.
This will come into force on 23 April 2018 and will have effect until 22 April 2023.
If you rent out a property in this area, you will HAVE to have a License from Manchester City Council. There are a few exceptions, but from our experience and knowledge of the area, Licensing will apply to 99% of the landlords in the zone.
Licenses are per property, not per landlord.
The aim of this scheme is to contribute positively to improving neighbourhoods. Manchester City Council hope that this will
Make more people want to live in the area
Make people want to stay in the area for longer
Reduce the amount of time houses are empty
Increase Property values as the area imrpoves
Reduce Crime and antisocial behaviour.
You can view the affected are on this map, or you can see a full street list on the Manchester City Council Website here
A public consultation took place online between 20 March and 2 June 2017. Responses were recorded from 30 Landlords & Agents and 38 Residents.
97% of residents highlighted that houses were in poor condition and 91% reported problems with rubbish and flytipping. 29 of the Residents who responded highlighted issues with poorly managed private rented houses and people moving in and out of the area often.
You can download the full results from the residents survey here
55% of landlords highlighted issues with rubbish and flytipping, and 50% said houses were in poor condition and there were poorly managed private rented houses.
You can download the full results from the landlords survey here
We actively manage around 30 houses in the highlighted area and our office is based on Moston Lane between Stovell Street and Fold Street. We are perfectly placed to help bring about positive change for this small area. The main priorities that we see from the consultation results are:
Rubbish & Fly Tipping
Houses in poor condition
Poorly Managed Private Rental Houses
People Moving in and Out of the Area often
What can we do?
Rubbish & Fly Tipping
Fly-tipping is the illegal dumping of waste and is a crime. We checked out Fix My Street and noticed, unsurprisingly that there have been ongoing complaints of fly-tipping in the highlighted zone You can view this interactive tool here
Local community group North City Community Action Group are working really hard to raise awareness of the local rubbish and fly-tipping problems and envoke positive change with the Council. We fully support their efforts and always welcome them to work with us to ensure the tenants and properties that we manage are not contributing to the problem. The very local team at North City Community Action Group are local residents who volunteer their time to help rebuild the communities in and around Moston. You can find out more about them and get involved here
Houses in Poor Condition
There are a number of tenanted and empty houses in poor condition in the highlighted area. Bringing them up to the required minimum standard is going to be costly
Poorly Managed Private Rented Houses
13 years ago, when we setup in Moston, letting and managing private rented houses was an easy enough task, even for the most inexperienced of landlords. As the years have passed, regulations have tightened, expectations have grown, compliance, reporting and monitoring requirements have rocketed and the required systems and procedures that need to be in place for successfully and legally letting a property have become difficult for even the most experienced of landlords.
Whilst 13 years ago using an agency was a nice have to save time and hassle, nowadays its a MUST have to ensure you are fully compliant and covered under all aspects of property law and legislation.
For advice on how to successfully manage your property, or for a free property management health check, call our office on 0161 681 3724 and we’ll be happy to help
People Moving in and Out of the Area Often
The highlighted area on the map is made up of most 2 & 3 bed terraced houses.
Our average length of continual tenancy in the area is 2-3 years (Manchester average 1 year 4 months- source), however in other areas we do see a rise of an average tenancy length being 3-4 years. Whilst our tenant retention rates are above average for the city, we are certain that positive action towards increasing management standards of surrounding properties and eradicating fly-tipping would see this figure naturally and organically grow.
Recently, The Manchester Evening News ran an article on the average house price on the streets where your favourite Football Stadiums are, the list looked at house prices around Bury FC, Rochdale FC, Oldham FC, Stockport County FC, Altrincham FC, MCFC, MUFC, Bolton Wanderers FC, Wigan Athletic FC and Salford City FC. Missing from the list was everyone’s favourite F.C United, on Lightbowne Road in Moston.
So, we can plug that gap for you and give you the low down on the house prices near our favourite football stadium.
FC United, Broadhurst Park, Moston
Closest street: Lightbowne Road
Average house price: £86,647
Last sale: A semi detached house sold for £94,000 in May 2017
Whats really interesting about Moston as an area, is that despite being within the M60 ring road, the property prices are still surprisingly affordable. Sitting on the edge of Moston and New Moston the properties around Broadhurst Park are quietly residential, away from the bustle of the Moston Lane district hub and mostly owner occupiers staying for a long time.
Although these properties represent remarkable opportunities as investment properties, they do not come on the market very often, and when they do, they do not remain available for very long. This is a well sought after are as it has excellent links for schools, transport, access to the city centre whilst remaining quiet and still somewhat suburban.
If you want to talk more about the local property market, pop in to our office or give us a call on 0161 681 3724
As we settle into the new year I thought I would share with all my friends and investors my insights into the market over the next twelve months
Manchester City centre is booming. There are developers building everywhere. As the city centre grows all new and growing company’s employing more staff and occupying the many high rise flats and swanky apartments the need for increased infrastructure pushes the boundaries of the city centre.
North and East Manchester will only benefit. There are many workers involved in these new offices and hotel developments that can not afford the high purchase or rental prices the city has on offer. The need for increased workers in the service industry’s that work many unsociable hours need to live in affordable housing close to the city centre with good transport links. Moston, Gorton, Newton Heath, Harpurhey, Blackley, Failsworth and Middleton are all areas that fit these requirements. They all sit on major bus links to the city and many have the additional benefit of the metrolink. We have seen a greater demand for rental property’s within the area and in many cases the tenants are staying longer. The number of tenants that are totally reliant on the LHA to pay there rent has decreased dramatically with many tenants now in some form of employment being part or full time. The fact that this employment may see many tenants looking to purchase there own house and with the increasing number of landlords entering the market this is putting increasing pressure on prices meaning this is an added benefit for any investors. The increase in new builds at higher prices means that many of the cheaper homes have also moved upwards.
Despite attacks on the Lettings industry from the government with more legislation and increased tax demands the industry within North and East Manchester is seeing availability or number of rental property’s stagnate rather than drop however as there is no increase in the number of property’s available to rent and an increase in demand this is forcing an increase in rents. The number of people looking for accommodation means that we can in many cases find a suitable tenant quickly and usually with better references and more security than we have been able to achieve in the past.
There are still many landlords that choose to rent out there property’s alone rather than through an agent trying to save on there outgoings however in many cases this can be costly. There is continued changes in legislation that many miss and get caught out with bad tenants.
Brentwood is a ARLA registered letting agent that supports reasonable increased legislation to get rid of rouge landlords and by us being members we support ARLA in fighting bad legislation on behalf of landlords. We are in need of more houses to manage and we have assisted many landlords outside of the region including people from overseas purchase property’s for us to manage and look after there investments.
I always say we are the regions 2nd best letting agent with many landlords responding well who is the best. I can’t answer that but you can rest assured as the 2nd best we are still striving to improve our services to claim to be number 1 but as we will continue to improve we may never rich that dizzy height
Both the Sales and Lettings markets locally have seen their ups and downs.
Data from the NAEA says in the sales market there are 425 registered prospective buyers for 44 properties each month. Yet conversely, 77% of properties were sold for less than their asking price, and only 4% were sold for more than the original asking price.
The Lettings market, as always, peaked at the start of the year, with an average of 1,800 registered prospective tenants for 188 properties each month. 27% of tenants had experienced rent increases, and it was taking 10% more viewings per property to find a suitable match.
‘It was always going to be an interesting year, following the announcement of the letting agent fee ban in last November’s Autumn Statement. I think we’re starting to see a consolidation of some agencies in the industry as the fee ban looms, which could explain why the number of properties under management has increased,’ said David Cox, ARLA chief executive.
He pointed out that landlords are becoming more selective about their property investments in light of last year’s stamp duty changes. ‘Mortgage Interest Relief (MIR) is starting to bite which is why we saw an increased number of landlords selling up. It’s likely that as we move into 2018, tenants will continue to see rent increases as supply starts to reduce, demand continues apace, and legislative changes increase costs for landlords,’ he added.
2018 will pose new challenges and new adventures for us as an independent and local agent in North Manchester.
Our knowledge of the market makes us highly attractive to overseas and remote investors, we specialise in a densely populated 10 mile radius, containing over, 300 communities and 1.5 million properties. Our average BTL yield is 6-8% and the population growth of the city is expected to swell a further 10% within the next 5 years.
Our managed portfolio continues to grow as we see further remote and overseas investment coming in. We are forecasting a manageable growth of 20-30 properties/month as we enter 2018 and are restructuring internally to absorb the upcoming ban on tenant fees.
2017 has had its ups and downs, 2018 will bring whole new challenges – and we will be ready for them.
Merry Christmas from Mike and All The Team @ Brentwood Lettings
Last week, we had a really interesting chat in the office about the huge Gas Holders that can be seen from Alan Turing Way in Manchester. As locals, they have been part of the skyline of that area for our entire lives.
Built in 1869, these giants have towered over the local skyline for almost 150 years. They bring us back to a time where gas was stored locally in urban areas and distributed directly to homes and businesses on demand.
Although they were decommissioned in the 1990’s, the writer of this post is old enough to remember days before Eastlands, before Alan Turing Way and before the metrolink, your writer has childhood memories of guessing how full the holders would be as we passed on the orange GM bus, of hearing tales of the mystery gas workers who filled the membrane and how they filled it, and the apocalyptic stories of what happened if they exploded.
It was interesting that the younger members of the office had no idea about the use or purpose of the Gas Holders.
The Manchester Evening News has just announced a HUGE Development and expansion of Manchester City Centre. Council chiefs want to link Eastlands with the City Centre.
Over the coming years as the City Centre expands towards the East, this will make Beswick, Openshaw and Miles Platting virtually part of the city centre.
This means that house prices will increase dramatically with so many new homes and improved infrastructure.
Our main strength areas of Newton Heath and Moston will be getting closer to the city centre and again will increase demand for housing. This will be reflected in house prices and rents in the long term.
Manchester City centre is so full of apartment complex’s it will mean there will be increased demand for low cost housing in North Manchester. North Manchester provides the most cost effective housing for those on low incomes or where easy access is required to the city centre meaning there are many searching for accommodation employed in the service industry’s, professional trainees require accommodation as well as many professionals that want accommodation during the week travelling home at weekend.
There is still One Central Park that is meant to become one large Fusing of education, commerce, innovation and enterprise, this unique collaborative venture provides a comprehensive range of activities from vocational training, foundation degrees and postgraduate research to business creation and incubation. It’s a place where industry and academia meet to develop tomorrow’s products and services whilst also acting as a training hub for the skills sought by 21st century business. This site is still in its infancy and will be one of its largest parks of its kind in the near future. This again will mean an increased demand in local accommodation.
Manchester City centre is booming, the areas in the suburbs will benefit from the increase in infrastructure, housing, business and increased unemployment. Moston has a very mixed and diverse community and is regularly labelled as Manchesters Notting Hill.
Full Article here: http://www.manchestereveningnews.co.uk/news/greater-manchester-news/city-centre-goes-east-plans-14007080