Nub News partner, BESPOKE by Northwood, provide an update on the housing market in Macclesfield.

Local House Price Trends

The average sale price in Macclesfield remains stable at £292,621 (based on May 2025 data), with no significant movement over the past quarter. The market has held firm, and buyer demand continues to be strong for well-presented properties that are accurately priced.

In June, the average time to agree a sale was just 28 days. Some homes are selling even faster - BESPOKE recently achieved 27% over the asking price within a week of listing a home in the area. It's a reminder that quality marketing and strong local knowledge continue to drive results in this market.

Mortgage Rates and New Products

Although the Bank of England base rate has remained unchanged, lenders have gradually reduced mortgage rates throughout July. The difference between two- and five-year fixed rates is now at its narrowest point in recent years, with lenders pricing in future reductions to the base rate.

The most competitive deals currently available include Santander's five-year fix at 3.73%, available to borrowers with a 40% deposit. This sits more than half a percent below the base rate, signalling increased competition between lenders. For those with larger deposits, it presents an opportunity to secure sub-4% deals for the first time in many months.

BESPOKE's office is located at 22 Church Street (Credit: BESPOKE)

Rental Demand and Lettings Activity

Rental demand in Macclesfield remains exceptionally high, with multiple applicants for most properties and premium rents being achieved. Properties are letting quickly -often within days of hitting the market - particularly in areas with good transport links or school catchments.

Professional landlords continue to purchase locally, viewing the market as a long-term investment opportunity. However, we've seen a decline in smaller or first-time landlords entering the market, with some choosing to wait until the direction of legislative reform becomes clearer.

Legislation Update: Renters Reform Bill

The Renters Reform Bill is still progressing through Parliament and remains a key topic of discussion in the private rented sector. As of July 2025, the bill is under scrutiny in the House of Lords, with final amendments expected in the coming months.

Key proposals include:

• Abolishing Section 21 'no fault' evictions
• Replacing fixed-term tenancies with periodic (rolling) agreements
• Introducing a national landlord register and private rental ombudsman
• Strengthening tenant rights around property condition and keeping pets

While no implementation date has been set, it is likely that the changes will begin to take effect in late 2025 or early 2026. We are actively advising landlords to review their tenancy documentation, compliance status, and long-term plans in preparation.

Despite ongoing uncertainty, landlord sentiment in July has remained stable, with most choosing to hold their portfolios steady rather than make reactive decisions.

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