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Manchester house prices up 10.6% in 12 months
30/08/2007
The City of Manchester saw house prices rise by 10.6 per cent between July 2006 and July 2007, the second-fastest rate of growth among the UK's metropolitan boroughs, new figures have revealed.
According to the Land Registry, the average Manchester property price is £109,387, although this rises to £127,696 across Greater Manchester as a whole.
The city-region saw annual house prices rise to 7.3 per cent, while the north-west saw a 7.6 per cent rise.
Bolton also performed well over the past year, with house prices growing by 10.2 per cent, which is the third-fastest rate of growth among the country's metropolitan districts.
Salford, though, experienced annual growth of just 2.4 per cent, the lowest performing metropolitan borough in terms of year-on-year growth.
"The rise in interest rates over the past year has yet to have any significant impact on asking prices," Peter Newland, an economist at Lehman Brothers, told Reuters.
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