Table of Contents
Property Listing in Manchester
- Manchester
Deposit
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Yield
Property Price
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- Manchester
Deposit
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Yield
Property Price
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- Manchester
Deposit
.
Yield
Property Price
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The Current State of the Manchester Housing Market in 2024
The Manchester housing market in 2024 is still on the rise. But it is not all about flashy new builds or trendy loft conversions.The current sale of properties in Manchester reflects a competitive market, with many homes receiving multiple offers. What is interesting here is how a mix of regeneration projects and population growth is driving demand, both for buying and renting.
Some areas in Manchester like the city centre and Salford Quays are attracting more attention. This is due to their proximity to business hubs. This gives investors a perfect investing opportunity in these regions. But it is not just the shiny new developments making waves. The other suburban areas are also catching up.
If you are getting into property investment then be clear with the fact that the competition is fierce. Manchester’s appeal as a place to live and work, especially with a growing young professional population, has made it a key market in the UK. The majority of homebuyers in Manchester are young professionals. They are drawn to the city’s vibrant economy and lifestyle.
Here the rental market is also quite strong. Investors are getting good returns. But now for first-time investors it’s becoming a trickier landscape. Especially due to the rising interest rates and inflation.
What is the Average House Price in Manchester, UK, in 2024?
When it comes to the Manchester property market, this year saw an average house price of £243,000, reflecting a 3.9% rise from the previous year. The overall average price of properties in Manchester continues to reflect a steady increase, making it an appealing market for investors.
It’s interesting because we’re seeing different property types fluctuate in value, giving both homeowners and investors a lot to consider. Recent figures shows that sold prices for various property types in Manchester have seen significant growth over the past year. Detached houses and flat in Manchester are now priced around £430,000. Semi-detached homes are priced at £302,000. For terraced houses, you are looking at £230,000. And flats and maisonettes come in at £207,000.
If you are thinking about property investment in Manchester, this consistent increase in house prices signals positive capital growth. In a city like Manchester, where urban regeneration and projects like the Northern Powerhouse are pushing demand, this kind of steady rise is not too surprising. Over this period. Manchester’s housing market has demonstrated remarkable resilience and growth. This attracting both domestic and international investors.
Areas like Ancoats and the city centre are seeing significant development. Because of this the property prices are also rising. With off-plan developments becoming more popular, many investors are jumping on these opportunities early for https://www.ons.gov.uk/visualisations/ho usingpriceslocal/E08000003/potential long-term gains.
For first-time investors in Manchester, these figures might seem daunting at first. Terraced properties sold in the city have become increasingly popular among first-time buyers seeking affordable housing options. But here is where it gets interesting- flats and maisonettes at £207,000 on average, are comparatively affordable. Especially for those looking to get a foot on the property ladder. With new regeneration projects taking place, there are areas in Manchester that still offer relatively affordable housing. Many investors are opting for freehold semi detached properties in Manchester, as they offer long-term security and control over the property.
The HS2 development could further increase demand and property values. It is an exciting, competitive, market for newcomers
What is the Average private rents rose in Manchester, UK, in 2024?
This year private rents in Manchester rose by 12.5%. Hitting an average of £1,241 per month. That is a big jump from July 2023. And when you compare it to the rest of the North West, where the average rent is £851, it is clear Manchester’s rental market is really heating up.
It is getting super competitive. The Manchester buy-to-let market is seeing strong demand across property types. With semi-detached homes up by 12.7%, and terraced homes not far behind at 12.4%.
For those eyeing one-bedroom properties, there has been a 13% rise. This brings the average rent to £902. If you’re in the market for something larger, four-bedroom homes saw an 11% increase, now averaging £1,863 per month. Flats are typically a bit more affordable, with the average rent sitting at £1,037, while semi-detached homes have climbed to £1,355.
In short,
By how many bedrooms there are in a property, average rents as of July 2024 in Manchester were:
- One bedroom: £902
- Two bedrooms: £1,117
- Three bedrooms: £1,294
- Four or more bedrooms: £1,863
- Flats and maisonettes: £1,037
- Terraced properties: £1,267
- Semi-detached properties: £1,355
- Detached properties: £1,721
How do Manchester House Prices Compare to Other UK Cities in 2024?
When it comes to comparing house prices in UK cities, Manchester offers a bit of a sweet spot. The average home here sits around £231,000, which is far more reasonable than London’s eye-watering £723,707. Even Bristol, at £400,520, feels steep in comparison.
Places like Liverpool and Leeds do come in slightly lower, at £219,235 and £266,917, respectively, but Manchester strikes a nice balance. The Greater Manchester region is experiencing a property boom, driven by ongoing regeneration and infrastructural improvements. It’s more affordable while still being an attractive spot for both experienced and first-time property investors looking for that potential mix of growth and affordability.
House price statistics
Let’s take a look at the graph. It shows average house prices in Manchester, spanning from January 2017 to mid-2024, broken down by property type
Detached Houses
Detached houses are clearly topping the chart here as the most expensive option. They’ve been steadily climbing in value over the years, hitting an average of £426,893 around July 2022. You can see there’s been growth with only a few small dips along the way.
These houses usually offer more space and privacy, which likely explains their higher price tag. If you’ve got your heart set on a room to breathe and aren’t too concerned about cost, detached houses might be just what you’re after. They’re a big draw for anyone seeking more space in the Manchester property market.
Semi-Detached Houses
The prices of these houses are also rising steadily. But let us tell you that the price growth rate here is not as quick as the detached houses. Around July 2022, they are priced at about £297,639. These houses offer a bit more affordability.
It is kind of the best of both worlds. Semi-detached homes are often snapped up by first-time investors in Manchester, given they hit that sweet spot of space and budget.
Terraced Houses
These houses are priced around £228,237 in July 2022. They tend to be your budget-friendly option. These are often seen in more urban areas where land is tight. Prices for terraces have gone up steadily. It is a solid choice if you want to balance cost with location in Manchester’s real estate market.
Flats and Maisonettes
This property type is the most affordable option on the graph. This property type stands around £201,185 in mid-2022. If you are a young professional or a small household, this could be your go-to option. Especially if you want to live near Manchester city centre without the price tag of a house.
Flats often offer a low-maintenance lifestyle, which is handy if you’re not keen on spending weekends on garden work. Maisonettes might give you a bit more space or even two levels, which is nice if you’re looking for that. In the Manchester housing market, these types of properties tend to be popular for those prioritising convenience over size.
House Prices Report for Manchester: January 1995 to June 2024
So this is a report on house prices in Manchester. The report covers a big time span. It starts from January 1995 and includes all the stats till June 2024. It is a proper deep dive into property prices, breaking things down month by month.
The first bit of the report shows the average price of different types of properties sold in Manchester each month. Now, averages can sometimes be a bit misleading, especially if there’s a big variation in prices (like, say, a few really expensive houses pushing the average up). That’s why we have added a second graph that shows the median price. The median is a handy way to get a clearer picture of the “typical” property price.
We have also included a third graph that’s quite helpful. It shows how many properties were sold each month. This gives a sense of how active the housing market has been. You will often see sales dip around Christmas or during uncertain economic times. Understandably, people tend to put house hunting on hold during those periods. It is a good way to spot trends and patterns in the Manchester property market.
Recent Trends in Manchester House Prices
If you have analysed the property market of Manchester then you can see that the housing market has been on a steady rise. This is because of the booming economy and continuous demand of houses in the city. The city’s role in the Northern Powerhouse initiative makes it a hotspot for growth.
House Price Movements
We have seen house prices in Manchester growing faster than in many other parts of the UK. Why? Well, it comes down to high demand. More people are moving to the city. Especially young professionals drawn in by the tech, finance, and creative industries. That means not only are people buying houses, but there is also plenty of demand in the rental market. It is a dynamic market where economic prosperity keeps pushing up house prices.
Economic Influences
The city holds a strong housing market. With the passing years, Manchester has done wonderful work in diversifying its technology, finance, and infrastructure. Now the city attracts more people with the motive of getting employment and a better lifestyle. As businesses continue to invest in Manchester, you can seen the housing market reaction. The house prices will increase as the demand for houses goes up. The city’s growth is not just local anymore. It is attracting interest from abroad too.
Demand and Supply Dynamics
One of the main issues in Manchester’s housing market is that demand is more excessive than the actual supply. There are not enough homes being built to keep up with the number of people wanting to move here. This leads to more competition and higher prices. Everyone seems to be eyeing the city for its lifestyle and opportunities. This eventually increases the prices in the rental market.
Infrastructural Developments
Infrastructure plays a vital role in Manchester’s property growth. Projects like the expansion of the Metro links tram system, the creation of MediaCityUK, and the regeneration of spots like Ancoats and Salford Quays have made the city more attractive. These developments improve daily life for residents, boost house prices in surrounding areas, and make them prime spots for investment.
Key Regeneration Projects
Northern Gateway: It is all about turning a large area just north of the city centre into a lively mix of houses and businesses. The plan is to build thousands of new homes with a focus on sustainability. It’s going to change the way people live and work in Manchester, creating a community feel while still being close to the action. This kind of long-term vision makes it a great time for those thinking about buying or renting in the area.
Mayfield Park: Now, this is exciting—a brand-new public park for Manchester, the first in over a century! It’s a real green space at the heart of the Mayfield development. There will be new office spaces, shops, and places to relax, making it more than just a place to pass through. It’s a brilliant blend of work and play, showing how cities can merge nature with modern development.
Salford Quays and MediaCityUK Expansion: Salford Quays has already made a name for itself as a media hub, but it’s not slowing down. The expansion of MediaCityUK is bringing in more studios, offices, and even more homes. It is a huge draw for anyone working in digital or media industries.
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Manchester Property Market Forecast 2025
Manchester Property Market in 2025
As the gem of the North, Manchester really stands out as one of the UK’s top spots for savvy investors. The Manchester property market is projecting growth in both sales and lettings. There is a lot going on in terms of new developments and regeneration projects as well. This is the major reason that draws businesses and investors from not only the UK but around the world in the city.
Manchester is home to big names like Amazon, Heinz, and AstraZeneca. As one of the fastest-growing cities in England. Manchester is attracting both national and international property investors. Google has its only UK office outside of London here. You have also got ITV’s joint head office calling the city home. These big players bring job opportunities and drive housing demand.
It’s no surprise that property prices in Manchester are on the rise, and the city’s buy-to-let market is thriving. We’re seeing the Northern Powerhouse initiative continuing to fuel this, and if you’re on the lookout for high-yield property, Manchester’s got some of the best neighbourhoods for just that.
And with so many new businesses setting up shop in Manchester, such as Amazon and Microsoft, it’s easy to see why this city is becoming such an investment hotspot. Leasehold properties in Manchester are also in demand. Especially among investors looking for rental opportunities in prime locations.
Plus, with housing demand on the up and more developments on the horizon, we expect Manchester property prices to keep heading in the right direction for both experienced and first-time property investors alike. Whether you’re after long-term growth or affordable housing, Manchester’s got something for everyone.
The average price of semi-detached homes has risen alongside overall house prices, with many properties sold in popular areas, including a significant number of new build developments driving this upward trend.
Manchester Property Prices in 2025
Manchester offers a refreshing alternative to the high property prices found in London. According to the Land Registry UK House Price Index, the average property price in Manchester sits at £234,867. This is far more affordable than the average £523,376 required for a London property.
JLL has predicted that Manchester will be the second strongest city in the UK for house price growth until 2028, only trailing behind Birmingham. JLL estimates a 19.3% increase in prices. And this comfortably outpaces the 17.6% national property growth forecast. That is solid capital growth in Manchester. Making the city a prime spot for long-term property investments.
Now, let’s talk about the hotspots. Two areas in Greater Manchester you might want to keep an eye on are Salford and Oldham. Salford is becoming a real hub for media and creative industries. This is because of the MediaCity and ongoing regeneration.
Oldham, on the other hand, still offers some of the most affordable housing in Manchester, with average prices around £195,000 as of May 2024. It’s seen an impressive 4.2% price increase year-on-year, making it ideal for first-time investors in Manchester looking for a mix of growth and affordability.
For those after something a bit more premium, buy-to-let properties in Manchester City Core have been delivering solid rental yields. According to the latest ONS data, rental prices for apartments have shot up by 12.3% in the last year alone. This makes the Manchester buy-to-let market a strong performer for investors looking to maximise their returns.
With Manchester housing trends looking so positive, the city is quickly becoming a top contender in the UK real estate market.
Manchester Rental Prices in 2025
JLL predicts that the city is set to experience some of the most significant rental value growth until 2027. We are talking about an average 4% increase in rental prices annually until 2028. Also, Birmingham and Edinburgh just edging ahead at 4.1%. Now, if you are considering diving into the Manchester real estate market, this could be something worth noting.
Rental yields in Manchester are already sky-high. Particularly in areas like Fallowfield, where the M14 postcode is seeing returns as high as 10.1%. That is massive! Other parts of the city, such as Clayton, Gorton, and Salford, are also pulling in yields of over 6.5%, according to PropertyData.
However, there’s a bit of a pinch when it comes to supply. The government reckons, we need about 300,000 new homes each year to keep up with demand, and we’re currently falling short. With the city becoming more popular for buy-to-let investments, we are going to see even more demand in these areas by 2025 and beyond.
Angel Gardens is located in an up-and-coming district of Liverpool. It is in close proximity to two major regeneration projects: the £150 million Project Jennifer and the £5.1 billion Liverpool Waters scheme.
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Manchester Supply and Demand in 2025
Manchester’s seen a real boom in population since the start of the millennium, with numbers jumping from 422,000 to a hefty 600,000. And it doesn’t stop there—by the looks of things, we can expect another 30,000 people to join in the next six years.
One area to watch is the city centre, where it’s predicted that 100,000 people will be living by 2026. This makes Manchester city centre housing particularly hot property for investors. With so many tenants and investors on the hunt, it’s no wonder city centre property is becoming a popular choice for those looking into property investment in Manchester.
But it’s not just population driving the demand. Manchester’s job market is growing just as quickly, thanks to redevelopment and regeneration projects. We’re talking 65,000 new jobs expected to pop up over the next few years.
By 2040, employment in the city centre should hit around 315,000, which is quite something compared to the rest of the North. In fact, the Manchester real estate market is seeing job growth double that of other northern regions, which will surely keep pushing property prices up.
Now, the big question: will there be enough homes for all these people? That’s where things get tricky. According to the Deloitte Crane Survey, only 2,402 homes were built last year. Currently, 11,765 properties are under construction. But it is doubtful these will meet the high demand for Manchester housing.
Manchester Economic Forecast in 2025
Predictions for economic growth in the UK suggest that Manchester will be the second fastest-growing economy. We are talking about an average growth rate of 2.2% from 2024 to 2027. This rate is higher than the national rate of 2.1%. This surge in growth is due to multiple investments, regeneration projects, and job creation that is boosting the whole Greater Manchester area.
Manchester’s regeneration projects are really ramping up. This is something that property investors will definitely want to keep an eye on. We’re seeing Manchester housing trends showing strong demand, particularly in areas like Ancoats, which has become a bit of a property hotspot.
It’s one of the best neighborhoods in Manchester for capital growth and rental yield. With businesses flocking to the city, the Manchester buy-to-let market is buzzing, and we’re not surprised that 80 of the FTSE 100 companies still have a presence here.
All of this is shaping up to have a positive effect on Manchester property prices, making it a top choice for long-term property investments. If you are thinking about property investment in Manchester, the future looks bright. Especially as the Northern Powerhouse initiative continues to fuel this momentum.
Key Developments Driving Growth in Manchester in 2025
You can see regeneration all over Manchester city. With the ongoing redevelopment, the city is constantly transforming its features and oppurtunities. There are loads of exciting projects driving growth here, but the below four points stand out for their impact on Manchester’s economy and property market.
NOMA
Let’s start with NOMA. It’s a huge redevelopment scheme – the biggest in the north west, in fact. Covering 20 acres in the city centre, it’s set to bring in 6,000 jobs and add a whopping £380 million to Manchester’s economy each year.
This is more than just a commercial project; it’s creating new homes, community spaces, and green areas as well. Much has already been built, but there’s still a way to go. By 2029, it’s set to become a fully developed neighbourhood, and you can bet that property prices in Manchester are going to feel the benefit, especially for long-term investors.
Spinningfields
Next up is Spinningfields. This area has been under redevelopment for around two decades and has become a key part of Manchester’s business district –often dubbed the Canary Wharf of the North. What’s interesting, though, is that it’s not just for high-flyers. It’s considered one of the most family-friendly areas in the city too, according to studies.
It’s already created 10,000 jobs and added over £1 billion to the city’s economy, and with redevelopment still in full swing, it’s no wonder Spinningfields is one of the best neighbourhoods in Manchester for property investment opportunities.
MediaCityUK
And then we’ve got MediaCityUK. Back in 2016, they announced a £1 billion investment to expand, and they weren’t messing about. They’ve already added 2,000 new flats and over 500,000 square feet of office space. What’s more impressive is the 10,000 jobs created in the digital sector, thanks to the BBC moving its operations here.
It’s not just a place for media moguls, though – this part of town is fast becoming a hotspot for both renters and investors looking to capitalise on the growing demand for housing in the area. The Northern Powerhouse impact on housing here has been huge.
With these key projects underway, Manchester’s housing market is on a serious upward trend.
Conclusion
Manchester’s property market remains robust. This will be due to the steady rise in the house prices. Continued economic growth, population increases, and major regeneration projects remains to be the major reason for this growth.
The average price now stands at £294,276, driven by high demand and limited housing supply. The city’s appeal to both experienced and first-time property investors is strengthened by infrastructural improvements and rental demand, with developments like the Northern Gateway playing a key role.
Manchester is set to experience sustained growth, maintaining its position as a property hotspot for the foreseeable future. Transactions are the lifeblood of property investment, marking the critical moments when opportunities are seized and value is realised.
Area Guide
Tom Collins
I’m your go-to broker, on a mission to make things simple and smooth when making your investment with me! My journey at Flambard Williams has been shaped by working in various financial fields and working closely with clients and their goals.