House prices in Greater Manchester have taken a surprising turn in some areas, with seven postcodes experiencing significant declines in house prices over the past year. While property prices in the UK have generally been on the rise, certain regions in our area have seen a decrease in housing costs, making it more affordable for potential buyers.
One such postcode is M13, which includes Ardwick, Longsight, and Chorlton-on-Medlock. The average house price in this area has dropped by a substantial £57,626 (-21.7 percent) from £265,795 to £208,170. Another postcode, M15 in Hulme, has also seen a decline of 19.6 percent, with the average property price now at £252,703 compared to £314,177 last year.
Moving over to Salford Quays, the M50 postcode has also experienced a decrease in house prices, with properties now costing around £191,327 after a £28,310 drop from the previous year. In the M4 postcode, which covers Ancoats and the Northern Quarter, house prices have fallen by 12.6 percent (£37,035) to an average of £256,529 from £293,564.
Manchester City Centre, in the M3 postcode, has also seen a decrease in property prices, with the average home now priced at £225,684 after a £30,190 (-11.8 percent) drop from last year’s £255,874. Droylsden in Tameside, represented by the M43 postcode, has experienced an 11.4 percent decrease in house prices, with the average property now costing £205,728 compared to £232,223 previously.
Lastly, in Ashton-under-Lyne (OL7 postcode) in Tameside, property prices have become more affordable, with the average home now priced at £176,874 after a £22,001 drop from last year’s £198,875. These declines in house prices across various postcodes in Greater Manchester present potential opportunities for buyers looking to invest in property in these areas.
Despite the overall trend of rising house prices in the UK, these specific regions in Greater Manchester are bucking the trend and offering more affordable housing options for those looking to buy a home. Keep an eye on these areas for potential investment opportunities as the market continues to fluctuate.
