With the average house price in the UK now at an all-time high of £360,000, the cost of homes are climbing up and down the country. Due to the continuous situation of a high demand of people wanting to move but a low supply of properties on the market, house hunters are having to pay much more for their desired homes.
Despite house prices being relatively high all across Greater Manchester, there are certain areas of the region where prices have skyrocketed within the last six months. This is often a good indication that the area is in high-demand with an influx of people wanting to move there.
When comparing the region's average house prices recorded by Rightmove in December with those in May, we found that there are certain areas with house price growth as much as £64,000.
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Here we have listed the region's top 10 property hotspot areas where the price of a home has shot up by more than £20,000 this year. This could be good news for homeowners living in one of these areas and looking to sell up this year, and gives house hunters an idea of the best places to buy.
Bolton
The town of Westhoughton is Bolton's latest property hotspot. In December 2021, the average house price here was £188,970. Since May 2022, this has increased by £22,400, with buyers now expected to pay around £211,370 for a standard property in this area.
Manchester
In the Manchester borough, three areas have had a huge house price growth in the last five months. The average price of a home in Ardwick is currently £234,978, having gone up by £31,682 since December 2021.
In Collyhurst, one of Greater Manchester's cheapest areas to live, house prices have shot up by £27,500. House prices are still very low in comparison to the average house price in the UK, but compared to December 2021 when prices stood at £102,500, you can now expect to pay £130,000 for a home here.
In December 2021 the average house price in Harpurhey was £102,994. Since May 2022 this has now risen by £26,756, with the standard price of a property now £129,750. Regardless, the inner-city suburb remains the cheapest area to live in Greater Manchester.
Rochdale
The suburban village of Newhey in Rochdale has seen a house price growth of £30,036 since December 2021. The average price of a home was recorded as £149,177 then, whereas now properties are priced at around £179,203.
Salford
In Salford, Boothstown is the borough's latest property hotspot. In this village, the average house price now stands at £300,372 as of May 2022. This is an increase of £25,588 since December 2021, when the standard price of a home was £274,784.
Stockport
There are two areas of Stockport where house prices have risen by more than £200,000 this year. Heaton Chapel has had a property price growth of £29,767 with the average house price here now standing at £355,472, compared to £325,705 back in December 2021.
Marple, one of Greater Manchester's more expensive areas to live, now has an average house price of £375,184. This has increased rapidly by £49,796 since December 2021, when the price of a home was £325,388.
Trafford
Bowdon, Greater Manchester's most expensive area to live, has had the biggest house price increase across the entire region in the last five months. Since December 2021 when properties were around £679,735, prices have now increased in Bowdon by £63,369 to a whopping average house price of £743,104.
Wigan
In the Wigan borough, Astley is the latest property hotspot. House prices here have increased by £21,777 since December, with the average price of a home now £227,461.
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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