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House prices climb 7.3% in 12 months

02/11/2007


In the 12 months to September, the average Greater Manchester property price climbed by 7.3 per cent and now stands at £128,425, official figures have shown.

The cities of Manchester and Salford saw an 8.8 and 7.2 per cent rise over the same period, bringing the average house price to £109,169 and £113,236 respectively.

In fact, all of Manchester's boroughs recorded a rise of at least five per cent, with Bolton and Tameside registering hikes of 8.4 and nine per cent.

Across the north-west as a whole, residential property prices grew by 8.3 per cent, compared with the England and Wales average of 8.7 per cent.

Many experts believes that Salford will see a house price boom in next few years as relocated BBC workers search for homes near the new media city site at the quays.

Chris Heath, managing director for Prospect, told the Salford Advertiser that local residents "will get a real buzz out of living here" as famous faces "run in and out of the BBC".

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