The Greater Manchester postcodes where house prices are rising and falling the most
11.05.2024 - 09:55
/ manchestereveningnews.co.uk
House prices have fallen gradually across the UK over the last year, but some parts of Greater Manchester have defied the national trend. Looking closely at house prices and how they're changing often gives a good indication of the current state of the local property market.
Whilst rising costs often highlight popular property 'hotspot' areas that are high demand, falling house prices can reveal areas where there is a decline in demand, excess supply and where homeowners are being priced out.
Our exclusive analysis of the latest Land Registry data has now revealed the region's postcode areas where house prices are soaring, as well as the areas where property prices are on the decline.
READ MORE: The latest average house price in every Greater Manchester postcode area revealed
House prices have soared in Deansgate over the last year, with the biggest rise of 22.4 percent across the region. It comes as no surprise as the road itself was named as one of the most expensive streets to live on in the UK by Rightmove earlier this year.
The average property price in the area is currently £323,500, which has gone up by £59,100 from £264,400 in 2023.
In the BL1 postcode, which covers Bolton, Smithills, Halliwell and Heaton, property costs are also on the rise. The average house price here has gone up by 9.5 percent over the last year, from £201,533 up to £220,626.
House prices are also climbing in Chorlton-cum-Hardy and Firswood. The average property here cost around £395,863 in 2023, but this has now jumped up by 6.4 percent to £421,324.
In OL4, covering Austerlands, Grasscroft, Grotton, Lees, Lydgate, Oldham, Scouthead, Springhead and Waterhead, the average house price is currently. £215,248. This has gone up by