Last week, property website Rightmove, launched their trendometer which demonstrates the UK’s housing trends in a clever little chart. It makes our lives so much easier to come across fab little ways of monitoring what’s going on in today’s property market. It’s interactive too, so it’s easy to swipe the panels and change the relevant dates to give you the lowdown on how far we’ve come in the economic recovery.
- It was reported recently that Manchester actually recovered faster than any other area outside of London from the recession – it just goes to show how the city is made of strong stuff! Thanks to Salford Quays and the MediaCityUK project, Manchester is flying high in terms of its overall growth.
Looking at the figures; asking prices have risen an impressive 9.3% in the last two years from £148,474 to £162,268. Just to compare, the current national average in the UK is £279,004 – highlighting that whilst Manchester prices are increasing, they still remain affordable when compared with other locations in the UK, such as London. So, if you’re looking to buy a pad in Manchester, now is certainly the time to be looking. The city’s healthy growth and affordable prices means that property is high in demand.
Timeline of trends:
- The trendometer also features a timeline which shows specific dates of interest that had contributed to changes in the market. It marks the date of significance to show what happened on the date, and how it affected the housing industry. It goes into detail following the economic crisis and its significant recovery, as well as the separate releases of the governments Help to Buy schemes. All pretty fascinating stuff for any property fans like ourselves!