£14.49bn – The total value of all Stoke on Trent Property Market

“How much would it cost to buy all the properties in Stoke on Trent?”

This fascinating question was posed by the 13-year-old son of one of my Stoke on Trent landlords when they both popped into my offices before the Christmas break (doesn’t that seem an age away now!). I thought to myself, that over the Christmas break, I would sit down and calculate what the total value of all the properties in Stoke on Trent are worth … and just for fun, work out how much they have gone up in value since his son was born back in the autumn of 2003.

 In the last 13 years, since the autumn of 2003, the total value of Stoke on Trent property has increased by 80% or £6.44 billion to a total of £14.49 billion. Interesting, when you consider the FTSE100 has only risen by 72.4% and inflation (i.e. the UK Retail Price Index) rose by 35.5% during the same 13 years.

When I delved deeper into the numbers, the average price currently being paid by Stoke on Trent households stands at £114,196.… but you know me, I wasn’t going to stop there, so I split the property market down into individual property types in Stoke on Trent; the average numbers come out like this ..

Stoke on Trent Property Market
Average Value of a Detached Property	Average Value of a Semi-Detached Property	Average Value of a Terraced/Town House Property	Average Value of an Apartment
£184,879	£134,528	£83,223	£89,000

 ... yet it got even more fascinating when I multiplied the total number of each type of property by the average value. Even though detached houses are more expensive, when you compare them with the much cheaper semi-detached houses, you can quite clearly see detached properties are no match in terms of total pound note value of the semi-detached houses.

Total Value of all the Stoke on Trent Detached Properties	Total Value of all the Stoke on Trent Semi-Detached Properties	Total Value of all the Stoke on Trent Terraced/Town House Properties	Total Value of all the Stoke on Trent Apartments
£3,588,131,632	£7,172,629,376	£2,612,786,085	£1,116,238,000

 So, what does this all mean for Stoke on Trent?  Well as we enter the unchartered waters of 2017 and beyond, even though property values are already declining in certain parts of the previously over cooked Central London property market, the outlook in Stoke on Trent remains relatively good as over the last five years, the local property market was a lot more sensible than central London’s.

Stoke on Trent house values will remain resilient for several reasons. Firstly, demand for rental property remains strong with continued immigration and population growth.  Secondly, with 0.25 per cent interest rates, borrowing has never been so cheap and finally the simple lack of new house building in Stoke on Trent not keeping up with current demand, let alone eating into years and years of under investment – means only one thing – yes it might be a bumpy ride over the next 12 to 24 months but, in the medium term, property ownership and property investment in Stoke on Trent has always, and will always, ride out the storm.

In the coming weeks, I will look in greater detail at my thoughts for the 2017 Stoke on Trent Property Market