Houses in Manchester are Selling for £25k to £40k more than Asking Price

October 4, 2021

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Article Summary

Manchester
  • More than half of all houses in Manchester are selling for £25k to £40k more than asking price. 

  • A Purplebricks study found that following lockdown, Manchester was in the top four property searches on its site as people move back to the city.

  • Manchester was recently named one of the UK’s most in-demand places to live thanks to its thriving jobs market, vibrant atmosphere and fast-growing economy.

Manchester’s property boom continues with research from Purplebricks showing that more than half of all houses in the city are selling for £25k to £40k more than asking price. 

A fast-moving market

This property market boom reflects what is being seen with Manchester property investments. The city has already proved itself an investment hotspot for 2021 and has truly bounced back from the covid-19 pandemic.

And with the property boom due to continue for the foreseeable future, the city’s housing market won’t be slowing down any time soon.

In fact, the Purplebricks study found that following lockdown, Manchester was in the top four property searches on its site as people move back to the city.

Kris Dykes, managing director north for Purplebricks said, “Our research shows that the confidence we’ve seen among those selling their properties has been entirely justified, with highly motivated buyers keen to move quickly.”

In-demand city

Some of the reasons for Manchester’s fantastic performance were down to the stamp duty holiday, as people moved quickly to take advantage of the savings.

But the tax break doesn’t tell the full story. Manchester was recently named one of the UK’s most in-demand places to live thanks to its thriving jobs market, vibrant atmosphere and fast-growing economy.

What is property investment?

Put simply, property investment is property purchased with the intention of generating financial returns for its buyer. These returns could be in the form of rental income through buy-to-let properties, house price growth through the future sale of the property or both. Property investments can be owned by individuals or organisations and can be short, long or medium term.

Get in touch

For all of the latest information about Manchester property investments and to start your own property investment journey, contact the experts at North Property Group now.

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