Buying a home in Manchester
From why you should buy in Manchester, to what Manchester house prices are like and where in Manchester could be the place for you.
Why buy in Manchester
Manchester is a popular city with a strong local economy. It’s got a growing population and is appealing to buyers for many reasons.
Top reasons to buy in Manchester include:
great job opportunities
a top 25 university
strong business sectors from FinTech to healthcare
vibrant art and culture, food, nightlife and leisure offerings
connected transport links
continual investment with £1billion worth of new investment schemes
It’s also still cheaper than areas in the south of England. Manchester offers a lower cost of living whilst still having plenty of leisure and work opportunities.
Before buying a property, it’s good to understand what the market is like in the area you’re looking into.
there were about 234,290 residential properties as of 31 March 2020 ¹
57.2% of properties were in Council Tax band A which is for properties valued under £40,000 in 1991
38.5% of properties were owned by those living in them according to the 2011 census
Manchester house prices
Manchester is the 33rd cheapest postcode out of 105 postcodes in England and Wales.²
The average house price in Manchester between January 2020 and January 2021 was around £187,000.³
The average house price for first time buyers in Manchester was £172,122.
House prices in Manchester are up from last year but are still lower than in cities in the south of England.
More about UK house prices.
House prices in Manchester are expected to continue to rise post-pandemic.
Many areas in Manchester are seeing government investment to improve the areas. It’s expected that the number of properties in the area will continue to grow.
In 2020 many experts expected house prices to drop due to Brexit due to uncertainty.
Since coronavirus, many have changed their minds and now think they’ll continue to rise due to post lockdown demand.
Despite Brexit and coronavirus, houses in Manchester are still in high demand by residential buyers and investors.
Learn more in our Brexit guide.
First time buyers in Manchester
Manchester is a popular area for first time buyers.
The average house price for first time buyers between February 2020 and January 2021 was £172,122.³
The average age for first time buyers in the UK is 33. But in Manchester it’s only 26.
Manchester is popular for first time buyers because it costs less on average to buy a home there.
Learn more about mortgages for first time buyers.
In 2019 there were 357,000 first time buyers in the UK.
The number of first time buyers in Manchester was up 7.6% in December 2021.³
The areas in Manchester with the lowest average house price for first time buyers are:
Oldham for £90,330
Little Hulton for £94,472
Gorton for £101,599
Blackley for £105,058
Ardwick or Longsight for £109,754
These averages are for 2 to 3 bedroom homes from Zoopla data. These are the most common property types for first time buyers in Manchester.⁴
New builds in Manchester
9.1% of homes in Manchester were new builds between February 2020 and January 2021.
Buying a new build is likely to cost you up to 15% more but tends to cost less to run later.⁵
In Manchester new builds cost 9.3% more.
The average cost for a new build in Manchester between December 2019 and November 2020 was £213,757 compared to £181,196 for older homes.³
In the same time period, the average cost of a new build in the UK was £292,202. So a new build in Manchester will still cost you much less.
Learn more about new builds.
Best areas to live in Manchester
There’s something for everyone in Manchester from students to families and young professionals.
If you like to immerse yourself in a bustling area then the city centre could be the choice for you.
The area is in high demand and is a great place to live or invest in.
Manchester City Centre is popular because it has great:
shops for retail lovers
business and job opportunities
Oldham in Manchester is the most affordable and popular area in Britain for first time buyers.
It’s also a good area if you have or plan to have children as it has:
grammar and religious schools that are rated ‘Good’ by Ofsted
green spaces including Alexandra Park
local sports teams
a close knit community
annual fairs and festivals including Whit Walks
Salford is a popular choice for students, investors, and young professionals.
It’s one of the cheapest areas for homes in Greater Manchester.
Salford is a good area to live in as it has:
great transport links and is just a 15 minute commute to the city centre
been awarded as one of the UK’s greenest cities
waterfront, urban and rural living
large tech companies for professionals
lower prices than recently developed areas nearby
rich diversity and culture
great leisure and entertainment spaces from theatres and galleries, to sports venues and open spaces
Salford Quays has been redeveloped, making it a hub of business, culture, and residential homes.
Spinningfields is one of the main commercial areas in the city of Manchester.
Houses in the area cost a lot more than other parts of the city. It's an area of the city that's popular with celebrities.
It’s a short distance to the centre of Manchester so it’s still an easy area to commute from.
It’s popular for its:
bars and restaurants
great transport links
entertainment and leisure
If you’re looking for a more family friendly area then Stockport might be for you.
It’s popular for commuters travelling into the city for work. It’s also a nice residential area for a good home life balance.
Stockport is also an area being improved. This means the number of jobs, homes and places to stay will keep growing.
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¹ Council Tax Stock of Properties (Valuation Office Agency (VOA), September 2020)
² Plumplot, Manchester house prices
³ HM Land Registry
⁴ Zoopla, House prices in Manchester
⁵ Showhouse, New build house prices