While there have been several questions looming over the property market in the UK for several years, the growth of the housing market in Manchester has slipped under the radar. Although some would say the growth Manchester has witnessed is simply levelling the playing field with London. There is no doubt that the ongoing growth in property prices is a positive sign for the wider UK property market.
Since 2014, it has been recorded that property prices on average in Manchester has increased by £48,600, increasing the average property value to £203,196. Whilst there is still a considerable gap between London and Manchester, this growth in the local property market should not be ignored.
For those looking to buy in the city or to strengthen their property portfolio, it is regularly argued that the relevant information and statistics are hard to navigate or in the worst case find. However, this is no longer.
Sold’s interactive Manchester property map has come to address this predicament by addressing and creating an easily navigable tool in documenting all necessary elements in relation to property prices in Manchester. Ideal for first-time buyers or experienced investors, the interactive property map documents property prices across the whole city in line with Manchester Metrolink stations, strengthening the connection made between property prices and transport links.
Sold’s research revealed the following Metrolink lines document the positive growth across Manchester the best.
Manchester Airport – Manchester Victoria
Although this line is one of the more affordable across Manchester, this 24 stop Metrolink line has seen a distinct and substantial increase between 2014 and 2019 as a result of the recorded investment in the city from the Northern Powerhouse Scheme. In the 5 years this data covers, it was recorded that this line witnessed an increase of 28% with an average price in 2019 reaching £200,909.
Covering a sizeable portion of southern Manchester and the city centre, the line is a major commuter route for those who live further out of the city. Interestingly it is the outer zones which have witnessed the greatest increase across Manchester; the greatest increases have been recorded throughout Zone 3 and 4. Zone 3 stations of Sale Water Park witnessed an increase if £74,00 and Barlow moor Road an increase of £67,500. Whereas it would be predicted that the greatest increase would be surrounding areas of high investment, the strengthening property prices have had a universal effect.
Altrincham – Piccadilly
Although this is one of the shortest Metrolink lines in Manchester, it has witnessed the greatest increase. Recording an average growth of £64,000, with the average property price today of just over £312,000. More than other line in the Metrolink Network, the greatest growth levels have taken place in the more residential areas of zone 3 and 4. Across Manchester property prices in these areas have skyrocketed. This is personified by Sale, where the average price increased by £145,000 (29.3%)
For those looking to relocate from Zone 3 and 4 can be confident in receiving a healthier valuation on their property than they would have 5 years ago. While this is good news for sellers, those looking to buy will have to part with more money. Although this provides a mixed tale of those benefiting, the increases witness across should be interpreted in a positive light.
Altrincham – Bury
Going from one side of Manchester to the other, the Altrincham to Bury Metrolink line witnessed a 26.7% average property price increase. A tale of two stories due to the similarity with the Altrincham to Piccadilly line, the greatest interest takes place on the second half of this line. From central Manchester to Bury, there was a growth of 28.6%. The reason why this is important to note, is it signifies the conclusive nature of how the property market in Manchester has grown.
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