It is a well known fact that house prices are rising all across the UK, with the average cost of a home now £369,968 according to Rightmove. July is the sixth consecutive month that house prices have reached a new record high as a result of huge buyer demand and a low stock of properties available on the market.
Despite house prices being relatively high all across Greater Manchester, there are certain parts of the region where prices have jumped up huge amounts in the last couple of months. The latest house price data from Rightmove has now revealed five property hotspots with the biggest house price growth since May.
In these areas, the average cost of a home has shot up between £18,000 and £159,000 in the last two months alone. This is often a good indication that the area is in high-demand with an influx of people wanting to move there, and it is also good news for buyers wanting to sell up in these areas.
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Bowdon, Trafford
This affluent suburb in Trafford has been Greater Manchester's most expensive area for quite some time - but house prices in Bowdon are now higher than ever before.
In July, Rightmove says the average price of a home is a staggering £902,217, jumping by a whopping £159,113 since being recorded as £743,104 back in May.
With its leafy avenues, gigantic mansions and celebrity residents, detached properties sold for an average of £1,493,239 this month, with terraced properties fetching £607,962.
Overall, sold prices in Bowdon over the last year were 31% up on the previous year and 20% up on the 2018 peak of £750,336.
Broadbottom, Tameside
The village of Broadbottom in Tameside has seen house prices grow month on month as buyers have become increasingly interested in moving to the area.
The picturesque country village boasts a river, stone houses with views of rolling hills and is also home to the largest woodland in the borough, making it an ideal area for semi-rural living.
The average house price in May was recorded at £270,232 by Rightmove, but jumped up to £285,330 in June and again to £302,909 in July - an increase of £32,677 in the last two months.
Over the last year the majority of sales in Broadbottom were terraced properties, selling for an average price of £287,857, whilst detached homes sell for around £500,000.
Castlefield, Manchester
Castlefield has become a hotspot for homeowners in Manchester, with the average house price rising by £53,797 in the last two months alone.
The area appears to have the best of both worlds by being close to the city centre whilst boasting canals, waterfront bars and green spaces.
According to Rightmove, the average price of a property in Castlefield is currently £324,029, which has gone up by £53,797 since May when the cost of a home was £255,629. The majority of sales in Castlefield during the last year were flats, selling for an average price of £321,771.
Overall, sold prices in Castlefield over the last year were 17% up on the previous year and 38% up on the 2019 peak of £234,580.
Hale, Trafford
Hale is another wealthy area of Greater Manchester that attracts the region's richest residents. The Trafford village is a popular home for Manchester United and Manchester City footballers, with a large number of upmarket restaurants and bars in the centre, as well as a bowling green.
House prices in Hale have climbed by £74,708 in the last two months, according to Rightmove. The average price of a property in the area stands at £739,402 in July having jumped up from £664,694 in May.
The majority of sales in Hale during the last year were semi-detached properties, selling for an average price of £679,089. Detached properties sold for an average of £1,302,974, with terraced properties fetching £455,045.
Orrell, Wigan
Despite Wigan being the cheapest borough to live in Greater Manchester, house prices in this town are on the rise.
Orrell, which was once at the centre of the region's coal mining industry, is now a predominantly residential suburb. It lies three miles from Wigan town centre and boasts Orrell Water Park.
Due to its cheap house prices in comparison to the rest of the region, the area attracts first-time buyers and families. The current average house price in July is £201,440, according to Rightmove, which has increased by £18,489 since being recorded at £182,951 back in May.
The majority of sales in Orrell during the last year were semi-detached properties, selling for an average price of £182,260. Overall, sold prices in Orrell over the last year were 8% up on the previous year and 24% up on the 2018 peak of £162,648.
Rightmove's house price data produced by the HM Land Registry. This material was last updated on July 6, 2022.
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