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House price figures show mixed picture
28/02/2008
House prices in Greater Manchester rose by just 0.4 per cent in January, bringing the annual rate of growth in the city-region to 5.9 per cent, new figures have shown.
In the city of Manchester, house prices rose by two per cent in January, which was the highest monthly price rise of any metropolitan borough in the country, according to the Land Registry.
The district with the highest annual price increase was Oldham, rising by 12.1 per cent in the 12 months ending January.
House price growth in Bury, Rochdale, Stockport and Wigan all recorded house price growth of less than one per cent in January. In Salford, Tameside, Trafford and Bolton, houses prices fell between 0.1 and 0.9 per cent.
Across England and Wales, house prices were up by 0.9 and 6.4 per cent over the month and the year respectively.
Estate agent chain Savills recently said that first-time buyers in Manchester are better off than their counterparts in London because of the quality and the price of homes on sale.
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