06 May Manchester Housing Market 2016
MANCHESTER HOUSING MARKET NEWS 2016
Home House Buyers are a property buying company which can buy any house, anywhere, nationally, we come across a lot of properties in and around the Manchester area so we are at the sharp end of the property market. We have noticed over the last year a significant increase in the average house price in Manchester and the Salford area, but this is still below the national average of £200,000.
Data which we have collected over the years we have been trading in the sell house fast industry, we have noticed in the M5 postcode area the average house price increasing by a massive 34% compared to three years ago. When purchasing a house quickly within the area we have been getting valuations of on average £128,000 from three years previous the average was around the £94,000.
These areas which have been on the rise are perfect first-time buyer areas which we hopefully see more growth and provide value for money, rather than other areas which are more established and the growth is relatively slow. Remember when buying in these areas growth is never guaranteed the market can go up as well as go down, so be very aware of this when buying a house.
M5 wasn’t the only area to see house prices on average rise dramatically we have also seen M12 house prices rise and supposedly one of the UK hotspots with an average house price rise of 32% from £74,000 to £98,000 in a matter of 4 years.
Moss Side has seen an increase more than twice as much as neighbouring areas for the first time in 20 years. Is this showing the once notorious Moss Side is looking to be more desirable for first-time buyer and Buy-To-Let investors????
Prices in the area have risen from £17,000 in 1995 to £105,000 in 2015, which is a massive 509% increase which places it in the top five performing areas nationally. A quick house sale is very achievable in this area with properties spending as little as 8 weeks on the market. The people that own houses in this area will have seen, first hand, the prices skyrocket. This compared with the people that live in nearby Hulme, which only saw an increase of 244%. Similarly, Newton-Heath also saw a significant rise in house prices of 193% in a 20 year period which has massively outperformed by areas such as Monsall and Clayton Vale which saw an increase of over 300%.
On the other hand, places like Oldham have seen the lowest increase of only 111% in a 20 year time period with houses on the market not achieving a sell house fast time period.
When we analyse more data of properties on our books this doesn’t represent the region as a whole, the rest of Greater Manchester are struggling to sell house fast with properties staying on the market for up to a year. Areas of Greater Manchester which are more buoyant when it comes to a quick house sale and healthy property price rises are areas such as south Manchester and Cheshire, whereas the North of Manchester has seen a healthy (but less extreme) gain of 10-15% and a slower sell house fast time period. It’s fair to say the North and East of the city have not had the same house price fortune as the rest of the city. This isn’t to say that the areas of the North and East of the city, houses have declined because they haven’t it’s just been relatively stagnant. It’s just a case of the more popular and desirable areas of Greater Manchester have seen a quick house sale being achieved easier.
Most areas in Greater Manchester have seen house prices grow at slower than the average rate for England and Wales since 1995 as house prices vary wildly across the region with some pockets of otherwise poor areas rapidly increasing in value over the past two decades.
As genuine cash buyers, we can help you to achieve a sale if you are needing a sell house fast manchester service. Just give a member of our team a call on 0800 612 1366 for a no obligate quote.