Manchester saw an increase in house prices of almost 9% over the last 12 months. And interest seems to be growing at almost the same speed.
Post Office Money Mortgages named Manchester as one of the cities with the highest level of popularity in the UK.
Examining the average time it takes to sell a property, the report had a closer look at 20 major cities across the UK and found that, on average, it takes 91 days to sell.
And although average house prices in Manchester went up by 8.9%, to 149,722, properties are still being snapped up 14 days faster than the national average, as they sell in just 77 days.
This is a decrease of of 22.7% compared to one year ago when it took 99 days to sell a property.
With this, Manchester is the 11th fastest city to sell a home and ahead of its Northern Powerhouse brothers, Birmingham (takes 80 days) and Liverpool (takes 108 days).
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The quickest to sell, however, were Bristol with 51 days and Edinburgh with 53 days.
Cassie Sugrue, from JP & Brimelow in Didsbury, told MEN: “We kind of class Didsbury as a mini London really as they go quite quickly, compared to other areas.”
“We’re coming up to a bit of an awkward time with Christmas coming up, properties are staying on the market a little bit longer.”
“But yes, two weeks is the maximum time, if they are priced correctly. If a house doesn’t sell in Didsbury it’s because they aren’t priced correctly.”
John Willcock, Head of Mortgages at Post Office Money, said : “House prices continue to rise across the country but eager sellers should remember that this might not be any guarantee of a successful sale.”
“The attractive asking prices can lead many people to put their property on the market, leading to competition in the local market. Even property hotspots such as London are not necessarily guaranteed to sell quickly.”
