New analysis of the latest ONS figures has revealed that average house prices in Salford have risen the most in Greater Manchester compared to five years ago.
The study, by money transfer experts Xendpay, compared the average price of a house in February 2016 to February 2021, across more than 400 areas of the UK.
It found that the average house price in Salford in February 2016 was £129,563.54, and in the most recently available figures for February 2021, it stood at £186,600.89 – an increase of 44.02%.
The area of Greater Manchester with the lowest price increase between February 2016 and February 2021 is Rochdale, with an increase of 28.11%.
The average house price in Rochdale has risen from £117,131.36 to £150,053.25, but despite seeing the lowest price growth in Greater Manchester, the percentage increase is still considerably ahead of the UK average, which stands at 21.78%.
The second biggest increase in average house price in the area belongs to Oldham, which jumped 40.83%, going from £115,832.96 in February 2016, to £163,122.29 in February this year.
Third on the list is Bury, where the average price has increased from £146,246.03 in February 2016, to £203,875.44 five years later – a jump of 39.41%.
Trafford has seen the fourth biggest increase in average house prices between February 2016 and 2021, going from £237,795.21 to £328,188.45 – an additional 38.01%. It means that Trafford remains the most expensive area in Greater Manchester, with an average house price more than £75,000 higher than the UK average.
Tameside’s average house price has gone up 36.69%, from £122,626.25 in February 2016, to £167,623.24 in February 2021.
Stockport has the second highest average house price on the list, at £256,274.67, which has increased by 35.35% from £189,336.68 in February 2016.
Manchester is home to the fourth lowest average price rise of 34.72%, having gone from £147,887.61 in February 2016, to £199,235.38 five years on.
The average house price in Bolton stands at £154,756.62 in February 2021, an increase of 31.78% from £117,131.36 five years before.
Just two areas in Greater Manchester have had average house prices increases lower than 30% – Rochdale and Wigan. In February 2021, the average price in Wigan stood at £152,038.55, and has gone up by 28.36% from half a decade ago, when it was £118,444.05.
Across Greater Manchester as a whole, the average house price has increased by 35.46%, measured at £194,507.10 in February 2021, compared to £143,589.73 five years earlier.
Across the UK, the average house price in February 2016 was £205,555, while the latest figure stands at £250,340 – an increase of 21.78%.
Comparing the four nations of the UK, Wales has seen the biggest increase in average house price over the past five years – 26% – going from £142,711 in 2016, to £179,860 in 2021.
Northern Ireland isn’t far behind, showing a 24.18% increase, with the average price rising from £118,850 to £147,592.
England’s average house price has gone from £220,626, to £268,291 – an increase of 21.6%.
Scotland has seen the lowest rise, 19.98%, as the average cost of a house in 2016 was £134,625, compared to £161,529 now.
