In a surprising turn, house prices in Greater Manchester have dropped, contrasting with the overall trend of rising prices across the UK
Manchester: It’s interesting to see how house prices are shifting. While most of the UK is seeing prices climb, Manchester is going the other way. The average house here is now about £253,061, which is down 2.3% from last year. That’s roughly £1,732 less for each home.
Meanwhile, just a bit away in Lancashire, things are looking quite different. House prices there have actually gone up, with the average now sitting at £195,665. That’s a 4.6% increase, which means homes are about £8,529 more expensive than last year.
Interestingly, some areas in Lancashire are among the hottest property spots in the UK. Blackburn with Darwen has seen a whopping 10.5% rise in prices, bringing the average to £159,805. Pendle isn’t far behind, with a 10.4% increase, making the average price there £146,516.
On the flip side, places like Kensington and Chelsea in London are experiencing some serious drops. The average home there costs over £1.1 million, but that’s down by £50,589, which is a huge 20.3% drop. It’s wild how different the markets can be across the country!
So, while Manchester is seeing a dip, other areas are booming. It’s a mixed bag out there in the property market, and it’ll be interesting to see how things unfold in the coming months.
