The 5 North West Boroughs With The Highest House Price Growth.
The North West region is currently one of the fastest-growing regions for house prices in the UK. Not only that, but we are expected to see it grow even further over the next 5 years with the number of new developments and investments happening in the region.
Savills have reported that the North West alone could see property prices rise a further 24% in five years followed by 21% thereafter. If we put that into perspective... The average terraced house in Salford currently stands at circa £165k, with this growth rate your property could be worth over £200k by 2025 without spending a penny.
Exciting times ahead right? But which Towns in the North West actually recorded the highest growth in the last 10 years?
Trafford is a borough located within Greater Manchester which is approximately 41 sq miles. It includes areas such as Sale, Altrincham, Urmston, Stretford and Old Trafford.
Manchester's largest indoor shopping centre "Trafford Centre" can also be found within Trafford.
Avg asking price: £228,015
Area to Watch: Urmston, Avg ask price: £325,016
Salford also located in Manchester includes areas such as Swinton, Eccles, Worsley, Walkden, Little Hutton and Irlam. Salford was once seen as a place to avoid by local Mancunians due to crime, Antisocial behaviour and poverty. Now thanks to huge regeneration and multi-million-pound developments such as Media City it is quickly becoming a go-to for young professionals and upcoming businesses alike.
Avg asking price: £232,170
Area to watch: Swinton, Avg ask price: £216,631
Manchester, adjacent to Salford and slightly behind them in terms of house price growth in the last 10 years includes areas such as Levenshulme, Ardwick, Ancoats, Moss-side, Didsbury & Chorlton. Manchester has a thriving scene of young professionals artists, Entrenepenerus and students making it a perfect location for investment. Due to council policies being introduced such as "Article 4" it has now become increasingly difficult to adopt certain investment strategies within this borough. The City Centre alone is seeing millions of pounds of foreign investment being introduced at the quickest rate ever which naturally increases houses prices and demand.
Avg asking price: £199,075
Area to watch: Levenshulme, Avg ask price: £232,161
Stockport also located in Greater Manchester " Southeast" is considered one of the top 10 Buy to let hotspots in the UK. Stockport continues to grow significantly with its infrastructure. Stockport council have also come forward suggesting they will invest a whopping £1 Billion into the borough, Improving transport links, Job prospects and homes.
Avg asking price: £283,319
Area to watch: Edgeley, Avg ask price: £212,596
Tameside is located East of Manchester and spans across towns such as Ashton Under Lyne, Dukinfield, Stalybridge, Hyde & Denton. In our opinion, this is definitely a rising goldmine area for buy to let investors looking for good yields and a growing rental market. Tameside has been identified as the fastest-growing rental market in Greater Manchester with rental asking prices rising year on year for the past 5 years. Whilst prices are currently a lot more affordable than its neighbours Stockport, We believe this region is seriously worth looking at as a contender for your next property investment.
Avg asking price: £165,505
Area to watch: Edgeley, Avg ask price: £158,205