Stoke-on-Trent House Price Monopoly: How do Prices vary?

Well as the nights draw in, if there is nothing on the telly, the significant other and myself like to play the board game Monopoly. The buying and renting of property, it’s like a busman’s holiday for me! Interestingly, the game was originally invented at the turn of the 20^th Century (in 1903) and the game was initially called ‘The Landlord’s Game’!  Anyway, after a few years in the wilderness, the current owners of the game renamed it in 1935 and so began Monopoly as we know it today.

So whether you are a homeowner or landlord in Stoke-on-Trent, what would a Monopoly board look like today in the town? Property prices over the last 80 years have certainly increased beyond all recognition, so looking at the original board, I have substituted some of the original streets with the most expensive and least expensive locations in Stoke-on-Trent today.

Initially, I have focused on the ST4 postcode only, looking at the Brown Squares on the board, the ‘new’ Old Kent Road in Stoke-on-Trent today would be Lovatt Street, with an average value £54,600 (per property) and Whitechapel Road would be Oldfield Street, which would be worth £58,400. What about the posh dark blue squares of Park Lane and Mayfair? Again, looking at ST4, Park Lane would be Park Drive at £377,900 and Mayfair would be Barlaston Old Road at £521,700. Also, I can’t forget the train stations (my favourite squares), and over the last 12 months, the average price that property within a quarter mile of the station sold for was £70,780.

So that got me thinking what you would have had to have paid for a property in Stoke-on-Trent back in 1935, when the game originally came out?

• The average Stoke-on-Trent detached house today is worth £224,160 would have set you back 405 Pounds 11 shillings and 5 old pence.
• The average Stoke-on-Trent semi detached house today is worth £124,700 would have set you back 225 Pounds 12 shillings and 4 old pence.
• The average Stoke-on-Trent terraced / town house today is worth £85,550 would have set you back 154 Pounds 15 shillings and 8 old pence.

Anyway, I hope you enjoyed this bit of fun, but underlying all this is one important fact. Property investing is a long game, which has seen impressive rises over the last 80 years. In my previous articles I have talked about what is happening on a month by month or year by year basis and if you are going to invest in the Stoke-on-Trent property market, you should consider the Stoke-on-Trent property you buy a medium to long term investment, because Buy to let is pretty much what it sounds like – you buy a property in order to rent it out to tenants.

As I reminded a soon to be first time landlord from Barlaston the other week, Buy to let in Stoke-on-Trent (as in other parts of the Country) is very different from owning your own home. When you become a Stoke-on-Trent landlord, you are in essence running a small business – one with important legal responsibilities. On that note, I want to remind landlords of the recent and future changes in legislation when it comes to buy to let. This year, rules have changed about tenant deposits, carbon monoxide detectors and early in the New Year, landlords will have responsibilities to do immigration checks on all their tenants. Failure to adhere to them will mean a minimum of heavy fines in the thousands or in some cases, prison ... it’s a mine field!  That’s why I write the Stoke-on-Trent Property Blog, where it has an extensive library of articles like this one, where I talk about what is happening in the Stoke-on-Trent property market, what to buy (and sometimes not) in Stoke-on-Trent and everything else that is important to know as a Stoke-on-Trent landlord. Please visit the Stoke-on-Trent Property Blog or call in to see us if you have any questions about the local property market