Property prices in Manchester vary depending on the source, but on average sit between £250,000 – £265,000.
If you’re an investor, foreign buyer, property developer or Manchester local looking to buy a property in this city, you’re probably wanting to have a deeper understanding of prices.
Here, we’ve compared information from key sources around property prices in Manchester, to give you a better idea into the city’s housing market.
Current Average Property Prices in Manchester
Manchester’s average property prices have stayed relatively steady. Whilst there is a small difference in what different platforms have set as the average price, they are more or less in the same region:
Gov.uk: The average house price in Manchester was £251,000 as of September 2024, showing a 1.4% decrease from the previous year. Detached houses were the most expensive at £442,000, while flats were the most affordable at £211,000.
Rightmove: Over the last year, properties in Manchester had an overall average price of £264,250. Semi-detached homes averaged £301,486, terraced properties were £241,875, and flats were £198,846.
Zoopla: The average sold price in Manchester for the past 12 months was £250,518. Detached homes commanded the highest prices at £461,216 and flats the lowest at £196,550.
Plumplot: Average property prices in Manchester were said to be £252,000. Detached properties sat at £450,000, semi-detached houses at £290,000, terraced houses at £215,000, and flats at £188,000.
While each source is slightly different – they all agree that Manchester’s property market is more affordable than the national average of £294,000 in September 2024 (ONS).
We have laid this information out in a table so you can see it more clearly:
| Source | Average Price (£) | Detached (£) | Semi-detached (£) | Terraced (£) | Flats (£) |
|---|---|---|---|---|---|
| Gov.uk | 251,000 | 442,000 | 312,000 | 240,000 | 211,000 |
| Rightmove | 264,250 | N/A | 301,486 | 241,875 | 198,846 |
| Zoopla | 250,518 | 461,216 | 291,792 | 223,953 | 196,550 |
| Plumplot | 252,000 | 450,000 | 290,000 | 215,000 | 188,000 |
Property Prices in Manchester By Buyer Type
Different buyer groups in Manchester have different experiences of average prices.
According to Gov.uk, this includes:
First-Time Buyers
On average, first-time buyers paid £231,000 in September 2024. This was slightly lower than the previous year, making Manchester an attractive option for those getting on the property ladder.
Mortgage Buyers
Properties that were bought with a mortgage averaged £256,000, which was 1.5% lower than in 2023.
Cash Buyers
Cash buyers paid an average of £238,000, slightly down from the previous year’s £241,000.
The slight drop in prices for all buyer types shows a general slowing in the market. This could have been as a result of high interest rates, which made it more expensive for people to borrow.
Monthly Rent in Manchester
If you’re looking to buy a property as a buy-to-let investment, you’re probably wondering how these prices compare to rental yield.
The rental market in Manchester has seen growth, especially as more young people head there in search of lower costs of living and better job opportunities in the region.
In October 2024, according to The ONS, the average monthly private rent in the city reached £1,266, up 11.4% compared to the previous year.
Here’s how rental costs break down:
- One-Bedroom Properties: £923
- Two-Bedroom Properties: £1,140
- Three-Bedroom Properties: £1,320
- Four or More Bedrooms: £1,891
By property type, the average rents were:
- Flats and Maisonettes: £1,058
- Terraced Properties: £1,292
- Semi-Detached Properties: £1,382
- Detached Properties: £1,752
Compared to the North West region, where the average rent is £870, Manchester’s rental prices are quite a lot higher.
Nationally, the average monthly rent is £1,307, putting Manchester slightly below the UK average, but still high for the region.
How Do Manchester’s Property Prices Compare With The Rest Of The UK?
Manchester’s average property price of £251,000 is higher than the North West’s average of £226,000. However, it is still a lot more affordable than London and other regions of England.
For example:
- London: £1.2 million (West London)
- East Central London: £883,000
- South East (St Albans): £624,000
- Great Britain Average: £294,000
When it comes to the wider country, Manchester ranks as the 36th most affordable postcode out of 105 in England and Wales according to Plumplot.
This puts it ahead of areas like London and South East England but higher compared to towns like Blackburn (£162,000) and Sunderland (£134,000).
This affordability, as well as the fact that Manchester has a lot of great economic opportunities, makes the city an appealing option for both buyers and renters.
Manchester’s Property Market
Manchester’s property market comes with exciting opportunities for buyers, investors and renters. With average house prices ranging from £250,000 to £264,250, the city is more affordable than many other places in the UK, whilst still giving residents great career opportunities.
As one of the UK’s buzziest cities, Manchester can be a great option for those looking to invest in property. Whether you’re buying or renting, staying up to date with the latest prices and market trends will make sure you make the best decision.
If you’re looking to invest in Manchester property and want to find out more about Bridging Loans in Manchester, get in touch with Blue Square Capital today.
