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Manchester property market 'vibrant'

12/07/2007

Manchester has been described an "exciting and up-and-coming urban location" for a range of property buyers.

According to AboutProperty.co.uk, an influx of investment and booming regeneration in the city centre and the wider conurbation have made Manchester a good place for first-time buyers, investors and those already on the property ladder.

While house prices in England's second city have grown slightly above the England and Wales average, according to the Land Registry, inflation may be showing signs of abating.

Miles Shipside, commercial director of Rightmove, said that the city has seen an annual increase of seven per cent "but property prices have started to level off" in line with the rest of the country.

"The average property price in Manchester went down by 0.2 per cent in June," he added.

But Greg Barnard of estate agent Knight Frank is sure that Manchester's property market will remain buoyant.

"In 1951 the population of Manchester was 700,000. Now it's 440,000. How much more can it take? About 300,000."

A recent analysis of Greater Manchester property trends by the BBC found that the highest average house price is in Trafford, followed by Stockport and Manchester.

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