Like all parts of the country, the housing market in Stoke was hit by the global crash of 2008, although generally the impact was less dramatic than much of the UK as house prices were already low. The market has shown steady but gradual improvement across the area since 2012.
Houses have generally sold more quickly since January 2014 with the median time before sale falling to below 200 days by 2015.
The average asking price rose by around 9% over 2016 -17 and are now well above the average prices of 2007.
The area has not yet seen any sign of the recent market decreases experienced in London – in fact it appears external investment is continuing to drive the north Staffordshire market during 2018, particularly at the auction houses. We expect the market to rise by around 3% over the next year.
Stoke-on-Trent still remains in the top 20 cheapest places to buy property in the UK for 2019.
The rental market in Stoke and Newcastle remains strong with two bed terrace houses across the region attracting rents of about £425 – £450 per month. Property of this kind can be bought from around £50,000 or less dependent on location and condition. Similar houses in specific areas – such as Penkhull, close to the new university hospital which employs over 7,000 staff – often sell for £105 K +, but enjoy greater rental returns.