Mortgage advice in Manchester
If you’re looking for mortgage advice, you can speak to a Rest Less Mortgages advisor and get high quality advice on residential, retirement interest-only, equity release and buy-to-let mortgages.
Buying a property in Manchester
The average overall price of a property in Manchester is £222,346, with house prices in the city up 10.5% year-on-year.
The average price of a detached property in the city of Manchester was £413,718, whilst semi-detached houses sold for an average of £282,327. Flats sold for an average of £183,842, with terraced properties fetching £212,441.
Source: HM Land Registry. Figures shown are the latest available (May 2022).
Cost comparison of houses and flats in Manchester
Source: HM Land Registry. Figures shown are the latest available (May 2022).
Property sold in Manchester
There have been 5.2k property sales in the Manchester postcode area over the past year and with sales falling by 24.3% (-4.8k transactions) compared to the previous year. Most properties were sold in the £150k-£200k price range with 3085 (24.6%) properties sold, followed by 2472 properties (19.7%) sold in the £100k-£150k price range.
Source: Plumplot.co.uk
About Manchester
Manchester is one of the largest cities in the UK, with a population of over half a million. It is known in particular for its culture, architecture, sports and industrial history.
There’s no shortage of things to do in Manchester, from shopping in the bustling city centre to visiting one its many museums, including the Manchester Art Gallery and the National Football Museum. Manchester’s rich cultural history also makes it a favourite for lovers of live music and art festivals. Other places of interest include the John Rylands Library, the City of Manchester Distillery, Manchester Cathedral, and a range of scenic parks.
Manchester boasts many suburbs within easy range of the city centre, meaning you have plenty of options when it comes to settling down. Popular residential areas include Chorlton, a quiet area with its own local feel that nonetheless sits close to the city, and Rusholme, known for its excellent schools and variety of dining options. Didsbury is another family favourite, regarded for its schools, restaurants, shops and transport links.
For getting around, Manchester residents enjoy a convenient light rail tram system and an extensive bus network. For getting further afield, Manchester is served by two major railway stations and is within range of the M6 motorway. It takes about three and a half hours to drive from Manchester to London via the M6 and the M1.
If you’re planning to buy a property in Manchester, you can find out more about the mortgage options that might be available to you, and how they compare, in our articles Mortgages for over 50s: What you need to know and Mortgages for over 60s: what you need to know.
Investing in buy-to-let properties in Manchester
A city on the rise, Manchester has the largest economic area outside of London. With attractive entry-level prices, high yields, and plenty of potential for further growth, Manchester is one of the most exciting cities in the UK for buy-to-let property investment.
The thriving tech sector has contributed to a growing population of young professionals, and student communities from three prestigious universities have led to consistent growth in property and rental values.
Over the years, Manchester has become a desirable place to live, work and visit for students and professionals alike. While new developments are spread out over several areas, such as Media City, Salford, and Ancoats, the student-friendly population is around Oxford Road.
Find out more about buying a property to let out in our guide Buy to let: A beginner’s guide.
Find out how much you could borrow
Get an idea of how much you can borrow, based on your monthly income and outgoings using our mortgage affordability calculator.
Compare mortgage rates today
If you’d like to find out the kind of deals available on the market now, you can compare mortgage rates from the whole of market in minutes. Our comparison tool makes it easy to try out a few scenarios to see how that affects the mortgage rates available – simply adjust your options to see how that affects the results.
Want to speak to a mortgage advisor?
Speaking to an experienced mortgage advisor can help you to understand your options and get a great deal on your mortgage. If you’re looking for somewhere to start, you can speak to a Rest Less Mortgages advisor and get high quality advice on residential, retirement interest-only, equity release and buy-to-let mortgages.
Other areas you'd like to explore
If you are in the early phases of buying a property and haven’t settled on a location for your future home yet, check out mortgage information and house prices in these areas.
Read our mortgages guides
Whether you’re looking to understand how mortgages work, want to refresh your mortgage knowledge or you’re looking for the latest news in the world of mortgages – our guides are here to help.
Source acknowledgement: House price data produced by Land Registry.
This material was last updated on 10 May 2022. It covers the period from 1 May 2021 to 1 May 2022 and contains property transactions which have been registered during that period.
Contains HM Land Registry data © Crown copyright and database right 2022. This data is licensed under the Open Government Licence v3.0.
If you have found an error with the data please contact Her Majesty’s Land Registry (HMLR).
Please note that we charge a fee of £495 for residential, buy-to-let and retirement interest-only mortgages, and £995 for equity release. This only be chargeable upon mortgage completion.
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