The latest property market trends in Manchester

House prices across the United Kingdom have increased by an average of around 0.2% in the month of April (2017). The annualised house price growth across the United Kingdom has slowed slightly and now stands at around the 4.7% mark in May (2017).

This slightly slowed increase has seen the Greater Manchester area experience a 4.4% increase in its values year-on-year. House prices in the whole of Manchester increased by 7.4% over the past year. The Salford area has seen its prices increase by 0.3% in April and has experienced a 4.8% increase in its values year-on-year. The number of homes on sale still remain at the lowest levels seen since the late 1970’s.

Manchester Price Boom

Manchester has seen a large rise in the property values over the past year. It has seen rising values of around 1.2%, which means the year-on-year rise is around the 7.4% mark. Greater Manchester has also seen a marginal rise. The increase has been recorded around the 0.4% mark compared to the previous month, which means the year-on-year average is around 4.4%.

Salford and the surrounding areas have also seen an increase in their property values. A steady rise of around 0.3% has been recorded over the last month and the overall gain year-on-year of 4.8%.

Property prices in Manchester are now offering investors and help-to-buy marketers the chance to get their hands on some of the best values and returns on capital to be found anywhere in the United Kingdom. According to the latest report compiled by HBSC, the average rental yield sits around the 7.98% mark., meaning Manchester is now home to the most competitively valued property prices that can be found anywhere in the United Kingdom.

RegionMonthly % ChangeAnnual % ChangeAverage Price £
Greater Manchester0.44.4£113,292
North West-0.15.3£116,018

Bearing this in mind, we can certainly expect the Manchester property market to expand and perform positively over the coming 12 months. Although the market remains at a “fair to steady” pace with prices increasing by 3.6% year-on-year, the yields that are being achieved on rented properties in the Manchester area are almost three-times higher than in London and the surrounding areas.

The areas that are currently seeing the most action for sales outside the city centre include:

  • M1 Whitworth Street area
  • M2 John Dalton Street area
  • M3 Left Bank Salford
  • M4 Northern Quarter
  • M15 Castlefield
  • M50 Salford Quays