Manchester house price rises up 21% in 2013
MANCHESTER saw house price growth of more than 20% last year making it the best-performing English city in 2013, according to Nationwide Building Society.
By contrast, values in Carlisle saw the most modest growth of any city, rising just 1%, the lender said.
Surprisingly, given the strength of London’s economy and the amount of international investment there, the Manchester city council area, including hotspots such as Chorlton and Didsbury, beat the capital into second place, with Brighton in third.
The price of an average UK home increased by 7.1% in 2013 and ended the year at £174,444, though there were wide variations by region, with the north of England and Scotland only managing a 1.9% and 3.7% annual increase respectively, Nationwide said. Edinburgh and Glasgow were named two of the “worst-performing” cities in 2013, with annual increases of just 1% and 2% respectively.
Heralding Manchester as the best-performing major town or city Nationwide said average prices in the city jumped 21% in 2013 to an average of £209,627. This rate of increase topped the annual rise experienced by the wider Greater Manchester area, which was put at 5%, lifting the average price-tag there to £165,897.
Elsewhere in the region, there was growth of 8% in Merseyside and Warrington and Halton, 4% in Lancashire and 3% in Cheshire.
Other cities that saw strong price growth last year, according to Nationwide, were Leicester (up 11%) and Birmingham (up 10%).
The price of an average UK home increased by 7.1% in 2013 and ended the year at £174,444, though there were wide variations by region, with the north of England and Scotland only managing a 1.9% and 3.7% annual increase respectively, Nationwide said. Edinburgh and Glasgow were named two of the “worst-performing” cities in 2013, with annual increases of just 1% and 2% respectively.
