What springs to mind when somebody mentions Stoke on Trent? Is it the pottery industry which put it on the map? Or maybe it is the football team? Whatever you think of, the chances are that you’ll probably see it as a run-of-the-mill city in the UK, that has some well-known history but not much else going for it. Well, if this is the case, you couldn’t be more wrong, as Stoke on Trent is one of the most up-and-coming cities in the whole UK!
Each year, the Sunday Times unveils a list of hidden gems where real estate prices are more affordable than in more renowned areas, and in 2022 Stoke topped the list. So if you are looking to sell house fast and invest in an up-and-coming city, it is hard to beat Stoke on Trent. But why?
Is Stoke-on-Trent a good city to live in?
Stoke is home to about 260,000 residents and is the fusion of six towns. Sunday Times journalist Tim Palmer singled out Stoke-on-Trent for its rich history in arts, crafts, and unexpectedly attractive surroundings on the newspaper’s best places to live list. He praised the £60 million Goods Yard project in Stoke as the most prominent symbol of a Potteries revival, emphasising that the city is brimming with potential.
With excellent transportation connections, green spaces, and an assortment of shops, theatres, pubs, and restaurants, as well as upcoming projects, Stoke does stand out as a Midlands gem in the making.
The city is well connected too. Stoke boasts easy access to major roads and rail networks, connecting seamlessly to other parts of the UK. The M6 motorway, A500, and A50 link Stoke to major cities, while Stoke-on-Trent train station offers high-speed connections to Birmingham, Manchester, and London Euston. Local bus routes, Megabus, and National Express provide ample transportation options, and Manchester, Birmingham International, and East Midlands airports are within an hour’s drive of the city. For scenic excursions, explore the Trent and Mersey Canal and over 70 miles of off-road cycle paths.
Stoke-on-Trent also has a good mix of schools and is home to Staffordshire University and Keele University, which is nearby.
When you consider all of these things, the picture becomes clearer as to why Stoke is a great place to invest in.
Will house prices increase in Stoke-on-Trent?
Stoke’s average property price of £170,000 over the past 12 months makes it an affordable option though, especially when compared to the county’s overall average of £290,000. Overall, sold prices in Stoke-On-Trent over the last year were 4% up on the previous year and 11% up on the 2020 peak of £153,829. But will they rise in the coming year?
In 2023 and into 2024, UK house prices are anticipated to experience a decline of up to 10%. This decrease is due to increasing mortgage rates and the tightening of household budgets because of inflation. Despite these predictions, the Rightmove House Price Index for April 2023 revealed a 1.2% rise in property prices compared to the same month the previous year, as per the property website’s data. However, the Nationwide Building Society reported a 3.1% drop in house prices for the year leading up to March 2023, so as we can see, the future of UK house prices remains uncertain.
Stoke prices may rise as demand grows, which would be good news for people looking to sell house fast. However, if prices do drop by as much as 10%, then 2023 is the perfect time to invest in Stoke. Once the economic turbulence subsides, prices will almost certainly rise again and if you have got in on property when it was cheaper than it has been for many years, you should be able to make significant gains in the coming years, especially as Stoke is investing in its future which should help its properties stay in high demand.
Things to Do in Stoke
Stoke boasts plenty of activities and sights for all types of visitors to enjoy. Shopping enthusiasts can explore Hanley’s Potteries Centre, as well as Trentham Shopping Village. Stoke’s culinary landscape includes The Rabbit Hole Tea Room, The Orange Tree, David’s Brasserie, and The Quarter and plenty of inviting pubs. Delve into Stoke’s rich pottery history through various museums and centres or embrace the great outdoors at Trentham Estate and the Stoke-on-Trent Heritage Canoe Trail. The family-friendly Alton Towers Resort is also a mere 16 miles away too, ideal for thrill-seekers!
When it comes to entertainment, Stoke’s bustling Cultural Quarter is the place to go and features a packed events calendar, including live performances, art venues, and vibrant live music scenes. Sports enthusiasts can take advantage of the facilities at Fenton Manor Sports Complex and Dimensions Leisure Centre or attend a match featuring local teams Stoke City and Port Vale.
Overall, Stoke-on-Trent is undoubtedly emerging as an up-and-coming area in the UK. The affordable property prices – which may fall even further in 2023 – excellent transport links, and strong educational offerings make it an appealing choice for those looking to sell house fast, invest or relocate. Although some if not most areas of the UK may see falling house prices in the next year or two, Stoke-on-Trent’s ongoing investment in its future and the potential for growth in the property market make it an attractive option for savvy investors and it could avoid the worst of the price decrease, so speak to us at We Buy Any Home if you want to sell quickly for cash and capitalise on this exciting opportunity.
