House prices in certain parts of Greater Manchester are defying the market trend as prices are still soaring. Across the country, the average cost of a home is gradually going down as the property market is experiencing a ‘cooldown’, according to Halifax.
But prices in at least 10 areas across the region have continued to rise sharply over the past year, despite those in the wider housing market now plummeting. This indicates that these sought-after areas have become magnets for househunters as rising prices usually means high demand.
Using the latest data from the Land Registry, the Manchester Evening News has looked at the postcodes which have experienced the biggest house price growths over the last year, to find the region’s latest property hotspots.
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Prices have gone up the most in WN4, which covers the market town Ashton-in-Makerfield in Wigan. Over the last year property prices have increased by 13 percent, taking the average house price up to £202,185 today.
Househunters are also being drawn to Ashton-under-Lyne, a market town in Tameside. The average property here now costs around £195,386 after prices have risen by 10 percent over the last 12 months.
In M12, which covers the Manchester areas of Ardwick, Longsight and Chorlton-on-Medlock, prices have gone up by 9.5 percent taking the average property cost up to £190,016.
One of Greater Manchester’s property hotspots is Stockport, which continues to be a popular area for househunters. The average house price here is £201,168 which has gone up by 8.5 percent over the last year.
BL9, which covers Bury, Heap, Heap Bridge, Nangreaves, Summerseat, Unsworth and Walmersley, is another postcode area popular with house hunters today. Prices have gone up by 8 percent over the last 12 months, taking the average house price to £213,922.
Another property hotspot is BL2, covering Bolton, Ainsworth, Bradley Fold, Bradshaw, Breightmet, Harwood, Tonge Fold and Tonge Moor. The average house costs around £211,563 now having risen by 7 percent over the past year.
Tyldesley and Astley in Wigan, which are covered by the M29 postcode, are also becoming more popular with househunters. Property prices have gone up by 7 percent in the last 12 months, taking the average house price to £236,963.
In the M13 postcode, which covers Ardwick, Longsight and Chorlton-on-Medlock, property prices are still rising. You can buy a home here for an average price of £239,330 today, which has increased by 7 percent.
Little Hulton in Salford is also proving to be popular among househunters. The average cost of a property has gone up by 7 percent in the last 12 months, taking the standard house price up to £158,048.
House prices in Stalybridge, Carrbrook, Heyrod, Matley, Millbrook are also on the rise. Property prices have risen by almost 7 percent in the last year, with the average home now costing £239,466.
Robert Johnson is a UK-based business writer specializing in finance and entrepreneurship. With an eye for market trends and a keen interest in the corporate world, he offers readers valuable insights into business developments.