March 27, 2019
If you’re hoping to get a better idea of how much it’ll cost to purchase a home in Manchester – this guide has you covered. From average property prices to the city’s most affordable and expensive areas, here’s everything you need to know about Manchester’s current housing market.
With property costs lying below the national average, Manchester is a prime location for first-time buyers to get onto the property ladder. According to estimates from Zoopla (January 2019), the average property price in Manchester is £190,657, which has increased by 0.57% over the last 12 months.
As for Manchester house prices by area, the average overall sold property prices (as per information curated by Rightmove) are as follows:
Based on the latest data from the Land Registry, the average price of a property in Manchester City is £183,992 & £171,923 in Greater Manchester (as of January 2019).
In the table below, you’ll find more detailed information about the average price per property type, and how much those values have changed over the past year.
|Property Type||Avg. price (as of Jan 2019)||Change (last 12m)|
Located in central Manchester with an array of shops, bars and restaurants, Deansgate (M2) is unsurprisingly the most expensive area to buy in the city. An ultra-modern district housing the popular Spinningfields and Castlefield, the area offers a range of properties for families and couples in a central location.
Moving outside of the city, Chorlton-cum-Hardy (M21) is the second most expensive and in turn one of the most in-demand areas to buy around Manchester. Offering a range of Victorian, detached homes and plenty of green space, the area is a favourite for families.
Other expensive areas include Didsbury & Withington (M20), Sale (M33) & Urmston (M41), all commutable suburbs with transport links into the city centre.
The average property price for each area (based on the average price in 2019) is as follows:
The M18 postcode bracket, which includes the Abbey Hey, Debdale & Gorton districts has the lowest property prices in the Manchester area. Located around 20 minutes by public transport from the city centre, there are a wide range of semi-detached and terraced houses on offer.
To the North of the centre, the M9 postcode is the second least expensive. Near the North Manchester General Hospital, areas such as Blackley and Harpurhey is a great area for first-time buyers providing lots of choice.
Finally, three of the remaining top five most affordable postcodes were claimed by the West Gorton & Belle Vue area (M12), Miles Platting & Moston area (M40), which stretches from near Ancoats towards Oldham and the Cheetham Hill area (M8).
The average property price for each area (based on the average price in 2018) is as follows:
To give you a better idea of how far your budget will go in Manchester, we’ve analysed the latest statistics from Zoopla to compare property prices in one of the city’s most in-demand suburbs versus one of its more affordable districts.
If you’re looking to buy a 2-bed flat in Deansgate — one of the most sought-after locations in central Manchester — you should be prepared to pay upwards of £332,000. For a third of that amount, you could get a 3-bed end terraced house in Harpurhey, with just a 10-minute commute into the city centre (where the current average value for a semi-detached home stands at £112,000).
Manchester is continuing to see huge investments in both property and infrastructure in 2019. With a £1billion investment in Manchester airport providing new routes to destinations across the globe and cultural developments across the city, Manchester is diversifying its options.
Currently, there is healthy growth in the property market across the city and house prices are rising as Manchester becomes an ever-more attractive place to live. Developments like the Salford Quays and the extension of the MetroLink tram system have added to this, meaning there’s never been a better time to think about purchasing property in Manchester.
If you need a reliable mortgage advisor, or you’d simply like to know more about the best areas to purchase property in Manchester, we’re here to help.
Don’t hesitate to contact us online or stop by and visit one of our friendly mortgage advisors in Manchester.
If you need advice for first-time buying in Manchester – or if you’re looking for a reliable mortgage broker in Manchester – don’t hesitate to contact us today.
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March 27, 2019
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