House prices in Greater Manchester have risen faster than anywhere else in the UK over the last decade, with average asking prices surging by 63% – nine times the rate of London, according to new data from Rightmove.
Manchester Leads Property Growth
Over the past 10 years, the average asking price for a home in Greater Manchester climbed from £160,422 to £261,891, an increase of approximately £100,000. In contrast, London recorded a modest 7% uptick, from £639,593 to £687,080.
Industry experts point to shifting employment trends and affordability constraints as primary drivers. Colleen Babcock, a property expert at Rightmove, said: "Greater flexibility through hybrid and remote working is still influencing where people choose to live, supporting demand in cities that offer better value. Areas with lower starting price points have had more room for growth."
North-South Divide
The data reveals a distinct north versus south dynamic. No cities in southern England appeared in Rightmove's top 10 for fastest price growth, while the south dominated the list for the slowest growth. The analysis also highlights a spillover effect, with priced-out buyers casting a wider net into neighbouring areas such as Salford, Wolverhampton, Wakefield, and Bradford.
Within the Greater Manchester periphery, suburbs like Levenshulme, Atherton, Droylsden, and Failsworth saw average asking prices spike by roughly 80%.
Top 10 Cities for Asking Price Growth
- Manchester: £261,891 (63%)
- Wolverhampton: £229,094 (63%)
- Newport: £235,275 (57%)
- Nottingham: £210,238 (53%)
- Wakefield: £231,581 (52%)
- Salford: £226,559 (52%)
- Bradford: £171,282 (51%)
- Stoke-on-Trent: £174,850 (49%)
- Doncaster: £186,378 (49%)
- Swansea: £215,866 (48%)
Bottom 10 Cities for Asking Price Growth
- London: £687,080 (7%)
- Oxford: £554,387 (13%)
- Brighton: £416,440 (13%)
- Winchester: £543,972 (14%)
- Cambridge: £512,872 (15%)
- St Albans: £657,627 (19%)
- Canterbury: £367,271 (22%)
- Chelmsford: £402,308 (22%)
- Colchester: £300,714 (26%)
- Dundee: £170,171 (27%)
Challenges for First-Time Buyers
While the price boom has boosted equity for existing northern homeowners, it poses severe challenges for aspiring buyers. Mary-Lou Press, president of NAEA Propertymark, noted that Manchester's rise reflects robust regional economics, transport upgrades, and regeneration. However, she warned that "increasing housing supply will be essential to maintain accessibility" as regional hubs become increasingly unaffordable for local first-time buyers.
