It is now becoming slightly more affordable to buy a home in these four parts of the region
House prices are falling in these desirable parts of the region(Image: Getty Images)
House prices are falling in some of Greater Manchester‘s most desirable postcode areas – making properties slightly more affordable. The average UK house price rose by 3.7 per cent to £269,000 in the 12 months leading up to June, new data has revealed.
The Office for National Statistics (ONS) said there was an uptick in price growth after a 2.7pc rise was reported in the 12 months to May.
It comes amid a backdrop of cooling interest rates, which dropped again to 4pc earlier this month.
Price inflation was also impacted by changes in stamp duty, with the threshold at which buyers pay the tax decreasing from £250,000 to £125,000 at the end of March.
Sign up to our Manchester property newsletter here
Despite the upward trend, there are certain parts of our region where the average cost of a home is declining.
Our exclusive analysis of the latest Land Registry data has now revealed four postcodes in Greater Manchester where house prices have gone down in the last year.
Despite these being ‘desirable’ areas, new data shows that house prices in each of these locations have now dropped by as much as 7.6pc.
House prices are falling in Altrincham(Image: Jake Lindley / Manchester Evening News)WA15 – Altrincham
Altrincham has the highest average sale price of any postcode area in Greater Manchester which has had at least 50 property sales over the last 12 months.
Houses sold for an average of £553,089 in the WA15 postcode area in the last year, but despite this, it has also experienced one of the biggest drops as house prices have fallen by 7.6pc.
The majority of properties sold in Altrincham during the last year were semi-detached properties, selling for an average price of £505,472, according to Rightmove.
Ancoats is seeing a drop in house prices(Image: ©2023 R A Kearton)M4 – Ancoats
Ancoats is another sought-after area where house prices have fallen in the last year.
The average cost to buy a property is now £276,644, which has dropped by 6.8pc in the last 12 months.
The average cost of a home has fallen in Manchester city centre(Image: Getty Images)M3 – Manchester City Centre
The city centre has always been a desirable place to live, but house prices are now falling.
The average cost of a home in Manchester City Centre is now £231,612, which has dropped by 4.8pc in the last 12 months.
The majority of properties sold in the city during the last year were flats, selling for an average price of £253,001, Rightmove says.
Property prices are dropping in Chorlton at the moment(Image: Zoopla / Bridgfords)M21 – Chorlton
Chorlton has also seen a drop in house prices in the last 12 months.
You can now expect to pay around £397,551 for the average home in Chorlton, which has fallen by 4.5pc over the last year.
The majority of properties sold in Chorlton during the last year were terraced properties, selling for an average price of £422,678, according to Rightmove.
Find out how much house prices have changed in your area by entering your postcode here:
Join the Manchester Evening News WhatsApp group HERE