30/07/2010

North-west house prices remain affordable for Manchester buyers

People looking to buy in Manchester and other parts of the north-west could benefit from low prices.

Land Registry's latest data reveals that values have only gone up by four per cent since June 2009.

This is below the national average of 8.4 per cent, indicating that homes are still affordable for first-time buyers.

The average cost of a home in the north-west region was £107,776 in June, after prices dipped by 1.3 per cent below May's figures.

Across the country, values rose by 0.1 per cent on May, bringing the average UK house price to £166,072.

Values rose fastest in Wales, with house prices going up by 2.9 per cent.

London price growth slowed down, with the average home only going up 0.5 per cent.

However, the annual increase in the capital still outstripped the rest of the country, entering into double-digit growth with values increasing by 12.2 per cent.