Prices falling is something that we're not used to hearing at the moment amid the cost of living crisis, especially when it comes to house prices. Since the start of the pandemic the cost of buying a home has skyrocketed, with the average property price in the UK now at an all-time high of £360,101.
Whilst house prices continue to climb across most of the region, surprisingly, in some parts of Greater Manchester the property market is showing some signs of slow down.
Across the regions 10 boroughs there are certain areas where the average house price has dropped by more than £90,000 this year, in comparison to the price recorded by Rightmove back in December 2021.
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This means that all hope may not be lost for prospective house hunters in Greater Manchester, with some areas having done a reverse of the upward trend.
Here we have listed 10 areas of the region that have seen property prices fall by more than £19,000 in the last five months - which could be a good starting point for first-time buyers looking to purchase their first home.
Bolton
In the borough of Bolton, house prices in Heaton have dropped by £19,363 since December last year. Previously recorded at £242,954, the latest average price of a home now stands at £223,591.
Bury
Whitefield in Bury has seen its average house price drop by £21,640. In December 2021, you could expect to pay around £268,751, whereas in May 2022 this has now fallen to £247,111.
Manchester
There are three areas of Manchester where house prices have plummet in the last five months. In December 2021 the average price of a home in Northenden was £257,155, which has now dropped by £24,107 to £233,048.
House prices have also fallen in Didsbury, where the average house price is now £346,378. This has dropped by £45,450 since it was recorded as £391,828 back in December 2021.
In Whalley Range, property prices have decreased by as much as £49,544. You can now expect to pay around £290,439 for a home here, whereas last year the average house price was £339,983.
Oldham
Two areas of Oldham have seen house prices drop by more than £40,000. In Hollinwood, the average house price is currently £144,121 in comparison to £184,603 back in December 2021.
In Saddleworth, the average house price has fallen by £46,083, with the standard cost of a home now £217,672.
Rochdale
Property prices in Bamford have dropped by £26,127 this year. In December 2021, the average house price in this area of Rochdale was £265,228, but it has now fallen to £239,101.
Stockport
Marple Bridge is Stockport has seen house prices plummet by as much as £61,613. The average house price here is currently £375,184, which is a big drop from £436,797 recorded in December 2021.
Trafford
Broadheath in Trafford has had the biggest house price decrease this year. In December 2021 you could expect to pay around £374,765 for a home here, but the average house price has since fallen by £91,192 to £283,573.
Rightmove uses information produced by the HM Land Registry to gather their average house price data. These prices are accurate as of May 3, 2022.
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