Average house prices for different property types in Manchester

New Open Property Group research found that Manchester’s detached, semi-detached, terraced and Flats property prices are: 

• Average Manchester Detached House Price = £405,117
• Average Manchester Semi-Detached House Price = £273,637
• Average Manchester Terraced House Price = £204,217
• Average Manchester Flats Property Price = £188,307

When comparing Manchester to neighbouring Northern cities, the average detached house price in Liverpool is £352,379. To get a detached house in Salford would cost you on average £389,916 and in Lancaster you would be set back £329,892 for a detached house.

In the last 10 years all UK property types increased by 63% or more, with detached house prices seeing the biggest jump – an increase of 71% in 2022 compared to 2012.

Looking at the other Northern cities, Stoke-on-Trent has the lowest ranked average detached house price at £221,909. This is closely followed by Sunderland and Carlisle, where a detached house would cost you, on average, £270,799 and £273,231 respectively.

Openpropertygroup.com Managing Director, Jason Harris-Cohen said:  

 “It comes as no surprise that detached and semi-detached properties have seen the healthiest price appreciation, partly fuelled by our ‘race for space’ over the last two years and a lack of available stock.

The new build sector is playing its part in shaping house prices. Developers need to create as much space as possible to maximise the square footage of each home, as ‘per sq ft’ is how they value properties. The bigger the size, the higher the resale value and we have definitely seen an emphasis on building detached and semi-detached family homes of late.

Historically, however, value has been broadly split between two camps – freehold and leasehold. Consumers will always favour freehold over leasehold and this naturally adds value to freehold properties. You also have to factor in the number of flats available to buy versus the number of houses – supply and demand will always impact the type of values sellers can achieve.

There has been significant house price growth over the last 18 months, albeit houses have appreciated more than flats and that trend is likely to continue. Consumers will always favour freehold over leasehold, however there are typically always more flats available than houses too, therefore there is the principle of supply and demand.

When the property market experiences fluctuations – such as rising interest rates and rising house prices – it’s predictable that the ‘move or improve’ conversation will be had. Right now, we have a backdrop of soaring inflation, a skilled labour shortage and a lack of readily available building materials. It’s not a clear cut ‘one of the other’ picture and for some, downsizing or moving to a new area is a good way of saving money and/or cashing in on current values.”

You can see the full research table below:

Regional 2022 UK Property Type Average Price