Manchester Property Prices

Category: Manchester

Property prices in Manchester have been on the rise in recent years, with the average property now costing around £246,000, according to the Office for National Statistics. This is up from around £200,000 in 2017 and shows no signs of slowing down.

This article will explore more about Manchester’s property prices, why it is experiencing rapid price growth and how investors can make the most of their investment in the area.

Author: Sophie Hope

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Manchester

Property Prices

As of January 2025, the average house price in Manchester reached £246,000, reflecting a 5.3% increase compared to January 2024. This upward trend mirrors a broader pattern of growth in the property market, making Manchester one of the key cities in the UK for real estate investment.

Over the past five years, the city saw a huge 33% rise in property prices, significantly outpacing the national average of around 15%. Between June 2023 and June 2024 alone, prices climbed by 2%, the highest growth rate among cities in England.

Additionally, private rental prices saw significant growth, with the average monthly rent rising to £1,307 in February 2025. This represents a 10.2% annual increase from £1,186 in February 2024, surpassing the rise seen in the North West region, which experienced a 9.3% increase. These figures suggest a continued demand for both homeownership and rental properties in Manchester, driven by its expanding economy and growing population.

Why Are Property

Prices Rising?

Several factors are causing the increase in property prices in Manchester. One is the city’s thriving economy, which is attracting new businesses and residents. The city’s growing reputation as a desirable place to live, with a vibrant culture, a strong job market, and plenty of amenities, also plays a key role. These amenities include luxury shopping experiences, friendly eateries, and incredible event spaces. Furthermore, Manchester’s appeal as a hub for education, with top universities and a skilled workforce, is further boosting demand for both residential and rental properties.

In addition to the economic and cultural factors, ongoing regeneration projects in areas like the Northern Quarter, Spinningfields, Salford Quays and Old Trafford are driving property price growth. These revitalisation efforts are attracting more people to live and work in the city, enhancing its overall appeal. As a result, the city is not only becoming a hotspot for businesses but also for individuals seeking modern, well-connected urban living.

The increase in property prices means that while investors may have missed out on the lowest prices, there is still an opportunity to benefit from capital appreciation. If an investor secures a great property in Manchester now, they can still take advantage of the growing interest in the area. Furthermore, while property prices are rising, it is still under half of the average property price in London, which exceeds £500,000, making Manchester a more affordable option with significant growth potential.

Manchester Price

Growth Forecast

Manchester is poised for impressive property price growth in the coming years, with JLL forecasting the city to be the second strongest in the UK for house price increases. By 2028, Manchester is expected to see a significant 19.3% rise in property prices, outpacing national growth predictions, which are projected to be 17.6%.

This anticipated growth highlights Manchester’s strong position in the UK property market, driven by its economic development, increasing demand for housing, and ongoing regeneration efforts. With such robust growth potential, Manchester remains an attractive option for investors looking to benefit from the city’s flourishing real estate market.

The market is very competitive, and properties are often snapped up within days of being put on the market, so investors need to act fast to secure their units. To avoid this, using an investment agent the investor could secure an off-market opportunity, with low competition. Therefore, the investor has more time to consider their investment strategy and work with the agency to make sure the property is profitable.