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Prices of Manchester city-centre properties 'have steadied'
27/03/2009
The prices at which city-centre flats in Manchester are being sold have steadied since last summer, according to one expert.
Andrew Wells from the auctioneer Allsop said that prices are more stable because fewer properties are for sale, the Times reports.
He stated that out of 400 properties due to go to auction next week, only one is in the centre of the city.
Mr Wells commented: "The good news is that there are very few city centre flats coming to the auction market at the moment."
The flat in question is situated in the Sorting Office development located towards the north of the city centre.
According to Mr Wells, there has been a lot of interest in the property and it is expected to sell for at least 15 per cent more than the guide price of £85,000 to £95,000.
Meanwhile, Drivers Jonas recently suggested that the property market in Manchester will undergo a speedy recovery once the economy picks up.
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