The housing market in the North West of England continues to see surging demand as homes are snapped up the fastest in Manchester, Carlisle and Stockport.
Aside from Waltham Forest in London, where the average property spent just 19 days on the market in the first quarter of this year before being sold, the North West of England is the country’s stand-out region when it comes to fast-paced sales, according to the latest analysis from Zoopla.
The region takes four out of the top 10 spots for having the fastest-moving property markets, led by Manchester where homes were also being snapped up in just 19 days in the first three months of this year. This is down from 22 days on average in Q1 2024, which is a steeper fall than Waltham Forest and reflects rising demand in the city.
Carlisle properties sat on the market for just 20 days during the first quarter, says Zoopla, while Stockport in Greater Manchester saw homes listed for sale for an average of 22 days before they were bought. However, Stockport also recorded one of the steepest drops, with homes taking 31 days to sell in Q1 last year. Again, this shows how Stockport has risen through the ranks when it comes to buyer demand.
Halton was the fourth North West location to appear in Zoopla’s fastest-selling list, with listings lasting for 25 days on average, down from 33 days last year.
Pricing is crucial
It is interesting to note that while the top spot went to a London location, with average sold (STC) prices of £525,000, the rest of the locations on the list involved below-average property prices.
For example, the average sold price in Q1 2025 in Manchester was £240,000, falling to just £160,000 in Carlisle, while in Stockport the average buyer paid £300,000 – which still falls just within the new first-time buyer stamp duty relief threshold.
Gateshead in the North East, which appears fifth on Zoopla’s list, had an average sold price of £150,000 – the cheapest in the top 10 – while Newcastle Upon Tyne in the same region sees buyers paying an average of £172,000.
The report notes that while buyer demand has increased across southern England, where prices tend to be higher than the north, it is not keeping pace with the rise in homes for sale, which means prices continue to rise at a slower pace, and properties may also sit on the market for longer due to lower demand. This makes pricing correctly in these areas even more crucial:
“Homes that are priced incorrectly for the local market will take longer to achieve a sale or may not sell at all. Where homes don’t attract sufficient demand and sellers, and agents reduce the asking price by 5 per cent or more, these homes take almost twice as long to sell, an average of 43 days.”
This compares with a UK average of 36 days, which falls to 32 days on average in the six fastest-moving markets in the country (Manchester, Carlisle, Stockport, Gateshead, Newcastle upon Tyne and Halton).
Cities and towns are winning out
Toby Leek, NAEA Propertymark President, said: “As the year progresses it’s extremely upbeat to witness a strong sense of self-assurance from buyers approaching the housing market. Regions such as the North West and North East have seen phenomenal growth over the last 25 years in terms of new infrastructure and jobs market appeal.
“This in turn has magnetised people towards certain towns and cities, as homebuyers search out a perfect location to potentially settle. There has been considerable public and private investment within such areas, with many large companies also choosing to locate their staff within key northern locations for the same positive reasons – mainly based on enhanced transport links and lower costs.”
Invest in Manchester
With a high level of housing demand that keeps on growing, Manchester is an extremely popular place to invest in property, as well as a sought-after place to live among a wide range of demographics.
Named in Time Out’s ‘Best Cities in the World to Visit’, Manchester boasts everything residents could need. From top-rated universities, accessible transport links, tourist attractions, globally renowned businesses and employers, to green space, evolving infrastructure and a range of property asset classes and neighbourhoods.
Manchester’s rental market is largely fuelled by the volume of 20-34-year-olds looking to rent homes in the city, whether that be postgraduates or working professionals who want to live and work in the bustling city. Demand often clusters in the city centre, where the current supply of modern flats and homes to rent still fails to meet demand.
Much of this demographic of renters also seeks to live in some of the quieter neighbourhoods on the edge of the city, such as Ancoats or the Salford side of town.
Get in touch with BuyAssociation today to find out about our latest property investment opportunities in and around Manchester, or read more here.
