Manchester named UK's 'new property powerhouse' after house prices soar

Manchester has been awarded the title of the UK's new 'property powerhouse' after a recent surge in house prices . The latest analysis from Open Property Group has revealed that when it comes to house price growth, Manchester has far outperformed other major UK cities over the last year - including London.

But not all major cities have followed this trend with both Leeds and Newcastle showing house price growth up to 2.1 percent. But Manchester has been the best performing city by far, with the average house price climbing by 5.8 percent year on year. However, Manchester hasn’t remained immune to current market conditions as the latest transaction figures show that Manchester home sellers may struggle to secure a buyer in the current market.

"This is great news for Manchester homeowners but that’s not to say that the current market isn’t without its challenges. While market conditions are improving, the higher cost of borrowing remains a considerable obstacle for homebuyers and, as such, the number of homes sold across Manchester has reduced notably year on year.

Property News Manchester City Centre

United Kingdom Latest News, United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Manchester's Soho House will cost more than its sister club in LondonThe exclusive private member's club is set to open later in 2024 after delays
Source: MENnewsdesk - 🏆 23. / 69 Read more »

23 Most Romantic Hotels in London 2023: London Hotels for Couples Trips and StaycationsOn the hunt for a romantic hotel to spend Valentine's Day, or just for a spontaneous couples weekend? We've scoured the capital for the most romantic hotels in London. All you need to do is rock up, order room service and stick Love Island on.
Source: GlamourMagUK - 🏆 2. / 98 Read more »

Photos of Manchester's lost Dolls Hospital on London RoadPhotos recently unearthed from the Mirrorpix archives show inside the lost Manchester Dolls Hospital
Source: MENnewsdesk - 🏆 23. / 69 Read more »

My Manchester to Berlin flights cost £200 less than a London train ticketSamantha Wragg says its cheaper to travel abroad than holiday in the UK after she paid just £33 for return Ryanair tickets to the German capital
Source: MENnewsdesk - 🏆 23. / 69 Read more »

Next year's Manchester Marathon to take place on same day as London MarathonIt marks the first time in recent history that the UK’s two biggest marathons will take place on the same date
Source: MENnewsdesk - 🏆 23. / 69 Read more »

Cherry Blossom Trees in Derbyshire, Greater London, and Greater ManchesterDerbyshire has the most Sakura cherry blossom trees, followed by Greater London and Greater Manchester. Residents are encouraged to visit specific areas in each region to enjoy the cherry blossoms.
Source: The Yorkshire Post - 🏆 39. / 66 Read more »