By this point in time, most property investors will probably be well aware that Manchester is one of the most exciting property markets in the UK.
Manchester, however, is a big place and it’s even bigger if you extend the definition of Manchester to include Greater Manchester as a whole. It therefore has its own sub-markets, each with their own characteristics. Indlu, Denton estate agents look at the locations with the most potential.
As Manchester expands, areas which were once considered its outer limits are now becoming integral parts of the city. Cheetham Hill is currently undergoing this process, which accounts for the fact that it is seeing the highest house-price growth in Manchester – a massive 4.75% year-on-year. Prices are, however, still very affordable, so those who move quickly could see themselves pick up a bargain with a lot of potential.
Although Eccles is literally the end of the line on the Metrolink, it is on the Metrolink, in fact, it’s only in Zone 2. What’s more, it’s on the line which also goes to MediaCityUK and Salford Quays on its way to the Cornbrook.
Eccles has long been considered a decent and affordable commuter base for people working in Manchester city centre, but it’s the rise and rise of Salford which has spurred the growth in the Eccles housing market – 3.57% year on year.
This is the third-highest house-price growth in Manchester and, interestingly, is shared with Salford itself, which is a strong indicator that Salford still has plenty of room to grow. The reason why Eccles is, arguably, more interesting, is because Salford’s property market has now been growing for some time and therefore on a like-for-like basis, prices are likely to be higher.
With year-on-year growth of 3.47%, Urmston is ranked fifth for house-price growth in Manchester. The reason why it is very interesting, however, is because it’s in the Trafford area, but still has fairly affordable prices because it is not currently on the Metrolink.
It is, however, between Eccles and Stretford, both of which are. It also has two railway stations, plus easy access to the station at Flixton, which combine to give it great access to both Manchester and Liverpool.
Honourable mention to Radcliffe
Over recent years, Radcliffe has essentially been the place to buy when you couldn’t afford Bury. Residents accepted the lack of amenities as a trade-off for affordable house prices in an area which had its own Metrolink, (20 minutes to Victoria Station), easy access to the M60 and great buses to take you over the River Irwell to Bury.
Radcliffe did have some pluses. There is a decent range of supermarkets so residents can do their household shopping nearby instead of having to cart it home from Bury or even further afield. There is also a good selection of green spaces including numerous parks and golf courses.
Possibly most importantly of all, however, there is a strong sense of community and a growing desire to see Radcliffe put on equal footing with Bury and, in particular, to receive the sort of investment it did. This means that while Radcliffe currently has only moderate house-price growth, its future prospects look very strong.
For more information or for a free online property valuation, please contact Indlu.