First-time buyer’s deposit increase by £10,000 reaching a record high across the country.
Getting on the property ladder for first-time buyers is notoriously difficult and now, they’re going to have to find an additional £10,000 compared to last year.
According to Halifax bank house price index, the average needed to put down as a deposit for a house in 2020 across the country has now risen 23% from last year to a whopping £57,278.
Fuelled by high demand in the second half of 2020 pushed by the break in the market from the pandemic and the stamp duty holiday, average house prices in the UK are now £253,374.
For those in London, properties are now £20,000 more expensive than in 2019 with deposits up by around £20,000 too.
Despite these staggering figures, the findings from Halifax show that first-time buyers accounted for half of all home purchase loans in the year, down from 51% in 2019.
Last year there were 304,657 first time buyers the lowest this figure has been since 2015.
Russell Galley, managing director, Halifax, said: “Whilst these figures confirm the almost inevitable fall in the overall number of first-time buyers in 2020 – with the entire housing market effectively shuttered during the first national lockdown – they also underline just how strong the bounce back was in the second half of the year.
“Despite the obvious challenges presented by soaring house prices, not least the need to raise an even bigger deposit, first-time buyers still accounted for half of all home purchases, a reassuring statistic given their overall importance to the market.
“However, with the economic impact of the pandemic likely to be felt most keenly by the young and those in lower-paid jobs, the need to prioritise improved housing availability and affordability for all those looking to make that first step on to the property ladder becomes ever greater.”
Tallest tower in Salford Quays offering stunning one, two and three-bed apartments
You can even bring your pet at no extra cost
A stunning new development is offering one, two and three-bedroom apartments in – what is currently – the tallest tower in Salford Quays.
Eda is the new 29-storey building with 290 apartments available now, situated at the top of Erie Dock in the heart of Salford Quays.
Eda’s furnished apartments include king-size beds with ottoman storage, corner sofas and TV units, to name a few – all bespoke designed by Eda and unique to you.
With floor to ceiling windows looking out over the Quays and the Manchester skyline, Eda’s apartments are bright and spacious with open plan living areas.
Each apartment has a modern fully-fitted kitchen with utility storage, comfortable and spacious bedrooms with bespoke designed fitted wardrobes, and relaxing bathrooms all finished to a high standard.
And, it doesn’t stop there – you can even bring your pet at no extra cost too.
Other amenities at Eda include a 24-hour concierge service, a cinema room, a gaming room, a private dining room and a landscaped garden terrace. It also has a Co-op store downstairs for your convenience.
With paddle boarders, kayakers and an occasional brave swimmer, this location is where the city meets the open water. It’s also the perfect place to enjoy a varied social life while staying local.
This cosmopolitan area boasts scenic walks along the dock where you’ll also find plenty of shops, The Lowry Theatre, Imperial War Museum and Media City UK.
For foodies, or those looking to catch up with friends over drinks, there’s The Botanist, The Alchemist, Seven Brothers, Unagi, plus Kargo – the huge new 20-vendor food hall.
With plenty more places to eat and drink, as well as a Quayside Makers Market that features every last weekend of the month, you’ll be spoilt for choice.
You can even catch the tram from the nearby Metrolink stop at Anchorage. From here, you can easily travel into the city centre or around to places including Chorlton, Didsbury and the Trafford Centre.
Apartments will be ready to move into from Friday, September 22nd.
Click HERE to register your interest, or come and say ‘Hi’ anytime. Now open 24/7, the team will be more than happy to show you around.
You can find them at Eda apartments, 5 Anchorage Quay, Salford, M50 3BR.
New images reveal how Debenhams Manchester will look after huge transformation
Look at these!
Brand new images reveal how Debenhams on Market street in Manchester city centre will look after it has gone through a huge transformation.
The iconic Grade II listed building currently stands empty on the bustling shopping street and is in need of some TLC. Once a busy department store, the empty building which was home to the household brand, is now covered in graffiti after it fell into administration in 2020.
Debenhams was later bought by Manchester-headquartered fashion giant Boohoo but all its stores were closed, leaving the site, known as the Rylands building, looking sad and in desperate need of a facelift.
Last year, global real-estate investment firm AM Alpha, based in Munich, confirmed that works were to get underway to breathe new life into the structure and transform it into a mixed-use development compromising retail, leisure and office space.
However, after Debenhams vacated it fell victim to vandals as it had its windows smashed and became covered in spray paint — which saw it dubbed as the city’s scruffiest building.
Situated close to Piccadilly Gardens, the multi-storey building was originally built in 1932 as a warehouse by J. Gerrard and Sons of Swinton for the Rylands textile company. It was designed by local architects, Fairhursts, in an Art Deco style, complete with a decorative corner tower and zig zag window ledges.
Exciting new digital images have revealed how the derelict site could look after it has undergone a major glow-up with works set to commence this year. The £68.5m redevelopment project was approved by Manchester City Council in January 2021.
The plans will see the upper floors of the grand building turned into high-quality, modern office spaces while the ground floor will be home to a new shopping arcade. A four-storey extension will also be added onto the site.
Enabling works for the transformation of the vacant building have already begun, with main works scheduled to start in 2023 and completion expected in early 2025.
Construction company Russell WBHO is acting as a construction partner for the project while property companies OBI and Barker Proudlove are letting agents for the building.
Stephan Schmid, Senior Vice President at AM alpha: “Working with listed buildings is always a great privilege. We are proud to be able to give this historic Manchester landmark a new future and restore Rylands to its former glory in a very sustainable way.
“In this way, we are also helping to achieve Greater Manchester’s 2038 carbon neutrality target.”
Local construction company Russell WBHO, which specialises in listed and sustainable projects, will act as a construction partner for the project, while local property companies OBI and Barker Proudlove have been appointed as letting agents.
“It’s fantastic working with AM alpha on such an exciting project in our home town. Rylands is a well-known, impressive building,” says Will Lewis, founding director at OBI.
“The property is close to bustling areas such as Piccadilly Gardens and the Northern Quarter and will appeal to many local businesses. Due to the sought-after location, we already see a lot of interest from potential future tenants.”
Gareth Russell, founder and managing director of Russell WBHO: “We are delighted to be working with AM alpha to revitalise the historic Rylands building and position it in the market as a highly sustainable building. With our extensive experience in historic preservation and sustainable building, we will make AM Alpha’s vision a reality.”
This Manchester neighbourhood is home to some incredible pet friendly apartments
Pets stay for free
A neighbourhood in Greater Manchester is home to some incredible pet friendly apartments — offering a modern lifestyle for professionals in the city.
Nestled between two great cities — Manchester and Salford — New Maker Yards features pet friendly homes, a jam packed event schedule and a beer house on site.
The Seven Brothers pub — with locally crafted ales — also welcomes pets, as we all know fur babies are part of the family. Your potential new local features a ‘dog wall of fame’ where all the resident pooches are featured.
Situated by the River Irwell and close to the Bridgewater Canal, this waterside neighbourhood is the perfect place to call home for you and your furry family member.
Here, you can go for scenic walks and take part in activities together, including regular dog meet-up clubs, a puppy yoga event (April 23rd), and an annual ‘Ru Paw Drag Show’.
This doggy drag show runs over Pride weekend where residents dress up their dogs in cute outfits and enter a judging contest. The queens will then judge the pets on silly categories like ‘waggiest tail’ and ‘best dressed costume’.
For those who prefer not to own a pet or can’t due to allergies, New Maker Yards also has ‘pet free’ apartments — so there’s something to suit everyone.
New Maker Yards is a sociable and lively neighbourhood with lots going on. Being close to the city centre and near Salford Quays, there’s plenty of bustling bars, shops, cinemas, restaurants, coffee shops, and a whole lot more to entice you.
The free fitness classes (three times a week), and community groups like book club, dog club and seven-a-side football, will keep you busy and are ideal for meeting new people.
This urban village also has a changing weekly food truck every Thursday, with different local food traders to satisfy those mid-week cravings while you’re busy balancing work and life.
The apartments have options for either furnished or unfurnished rooms and balconies — many boasting stunning views of the city skyline.
There’s a spacious newly built co-working space which has popular coffee haunt, 92 Degrees, attached. It’s a suitable space for those working from home days, where the barista coffees will keep you going.
Each contemporary apartment is designed to a high standard with modern furniture, built in storage and double size beds — and some even have outdoor furniture to lounge outside on.
If this sounds like the right neighbourhood for you, you can enquire to speak to the Get Living team about 1 or 3 bedroom apartments for rent here.