Homes on Greater Manchester’s commuter belt are getting increasingly expensive, with Rochdale, Stalybridge and Wigan recording the fastest annual asking price growth in the region, according to Rightmove data.
Rochdale saw the highest growth in Greater Manchester at 8.7 per cent, with average asking prices reaching £238,115. Wigan followed with a 6.2 per cent annual rise to £193,347, while Stalybridge saw prices climb 5.6 per cent to £265,378.
Buyers seeking value and hybrid locations
Rightmove’s research looked at asking prices for homes in commuter locations around six cities – London, Manchester, Glasgow, Birmingham, Bristol and Cardiff – examining annual changes in average asking prices in July.
“For anyone considering a move, it’s a reminder that looking a little further beyond the main city locations can often open up more options and better value for money,” said Rightmove property expert Colleen Babcock.
Affordable commuter locations around Glasgow and Manchester lead the growth in average asking prices, the research indicated, with growth generally more subdued in the cities themselves.
Shifting trends in commuter markets
Ms Babcock said the data highlights two very different stories playing out across some of Britain’s commuter markets. “In the more affordable locations around Glasgow and Manchester, asking prices are rising strongly as buyers look for value within reach of major cities,” she said.
“Meanwhile, some of the more expensive commuter hotspots are seeing prices ease, which could create opportunities for buyers who may previously have been priced out.”
Ian Harris, National Association of Estate Agents Propertymark president, said: “Since the pandemic, we’ve seen an initial reformatting of what many people want and need from the location they choose to live in. Initially, we saw many people embrace the concept of working from home and enjoying a lifestyle away from the traditional city commute.”
“However, this is now a trend that is starting to swing back, with many people looking for a hybrid location that offers easy commuter access to key cities, while also providing a desirable mix of out-of-city amenities.”
Price growth and falls across Britain
Falkirk in Stirlingshire had the highest price growth in the research at 13.5 per cent, with an average asking price of £183,596.
Across the six cities analysed, average asking prices were up by 2.9 per cent annually in Glasgow (£191,530), 1.8 per cent in Manchester (£261,212) and 1.4 per cent in Cardiff (£285,596). Prices had decreased annually by 0.6 per cent in Birmingham (£251,340), 0.6 per cent in Bristol (£375,205) and 3.1 per cent in London (£646,451).
Haywards Heath in Sussex recorded the largest annual asking price decline in the analysis, down 4.8 per cent to reach £461,066, followed by Maidenhead with a 3.9 per cent fall, and Bath with a 3.8 per cent decrease.
Rightmove’s research looked at commuter areas surrounding the six cities only, not every commuter location in Britain.
