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City sees 4% house prices rise in 2007
02/01/2008
The City of Manchester saw a four per cent rise in house prices last year, new building society research has shown.
According to Nationwide, the average price of a Manchester property rose from in £198,620 in 2006 to £206,181 in 2007.
This means that on average house prices in the city increased by £21 a day, compared with £125 a day in London.
Commenting on the figures, Fionnuala Earley, Nationwide's chief economist, said: "House price growth recorded another strong year in 2007.
"But the national figures disguise movements in different parts of the country."
According to data released by the Land Registry, the average property price in Greater Manchester now stands at £129,104.
House prices in the city-region rose by more than 7.4 per cent rise over the year.
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