Manchester Property Sees Biggest Annual House Price Rise

Manchester Leading the UK Rise

The UK housing market had started to move in the right direction, led by the growth of Manchester property prices, which has seen the largest year-on-year rise. The north-south divide and regional variations in market performance remain noticeable, with more affordable areas showing stronger growth than regions with higher-priced properties.

Zoopla’s most recent house price index shows that the market is more balanced than in the past five years. Average house prices in the UK have increased by 0.5% overall compared to this time last year. This factors in the price fall that was seen over the end of 2023. Within the same time, there was an impressive 20% rise in buyer demand, along with a 23% increase in the number of sales agreed. 

Overall, on average the northwest saw property price rises of 1.9% since June last year, with Liverpool coming behind Manchester’s growth with a 1.7% house price rise. The northwest is the current best region to invest in as the market is the strongest and most promising market in the UK. According to Savills’ predictions, the northwest is expected to see property price growth of 28.8% in the next 5 years.