The UK city where house prices are increasing faster than anywhere else

Over the last 10 years, Manchester has embarked on an intense period of change. Skyscrapers have been popping up left, right and centre, and every other minute, another new brunch spot seems to appear.

Against this backdrop though, is a housing market that’s becoming increasingly unaffordable for many locals, as new statistics reveal that Manchester — not London — is now the top UK city for property price growth.

Over the last 10 years, the average in the area, affectionately nicknamed ‘the rainy city,’ has skyrocketed by 63%.

Now, the average asking price for a home in Manchester is £261,891 —a steep jump on a decade ago, when the figure sat at £160,422.

By contrast, London has flatlined, with increases of 7% between 2016 and 2026. On average, a home in the capital typically goes on the market for an eye-watering £687,080, and while it remains the most expensive city in the UK, it’s not all that far off the £639,593 sum of 10 years prior.

Up north, social media is awash with comments from those who feel nostalgic for the Manchester of years gone by, including @keirainmanchester, who said on TikTok: ‘It’s getting more and more like London every year.’

‘I’m from the outskirts of Manc and I’ve watched it changed throughout the past 10 years,’ she continued. ‘The rent prices, the busyness, the skyscrapers, the cost of living. It’s basically London with more rain.’

‘We’ve seen the area’s appeal broaden consistently’

Colleen Babcock, Rightmove’s property expert, describes Manchester as ‘a big winner of the past decade.’

She says of the new research: ‘By contrast, London has seen much slower growth over the same period, reflecting how higher prices in the capital have limited how much further buyers can stretch.

‘Areas with lower starting price points have had more room for growth, which has contributed to a widening north-south divide in price growth trends over the last 10 years.’

Meanwhile, Maurice Kilbride, managing director at Maurice Kilbride Residential Sales in Cheadle, Greater Manchester, says ‘strong employment opportunities, significant upward investment, excellent transport links, and a vibrant lifestyle’ have attracted buyers from across the UK.

Labelling Manchester ‘one of the UK’s standout property success stories,’ he explains: ‘What’s particularly noticeable is that the city’s success has extended well beyond the centre, with surrounding suburbs also benefitting from increased demand as buyers look for a balance of space, connectivity, and quality of life.’

‘The city has never just belonged to one type of person’

James Crawford has lived in Manchester for more than 25 years – and during that time, he’s seen it change, in parts, beyond recognition.

When he first moved to the city in the early 2000s, Chorlton, which is about three miles south of the centre, felt relatively affordable.

He jokes that it was referred to as the ‘Notting Hill of the North,’ but one that still had an edge to it.

‘You could sit in a pub and be surrounded by all sorts of characters,’ the PR tells Metro. ‘It still has its own identity, but parts of it now feel more affluent and polished. It’s hard to imagine many first-time buyers getting into Chorlton now in the way they once would.

‘There has clearly been gentrification and some people will feel pushed out of the areas they would naturally have expected to live in.’

However, in his view, Manchester is ‘not London’ and places like Levenshulme, Whalley Range, and other parts of south and east Manchester are still attracting the attention of people who want to get on the ladder, particularly young professionals and families.

‘The real issue is that people are being priced out of the exact parts of Manchester they would most like to live in,’ he says.

‘It still has affordable pockets if people are willing to look a little further out or compromise on location. The city’s growth is creating pressure, but it’s also creating new neighbourhoods and new opportunities.’

These days, dad-of-four James lives in Urmston, having moved out of Chorlton because he wanted more space for his family — and, crucially, a garden.

He’s still proud to be a Mancunian, even after all these years. A DJ local to him once laughed about Stockport being the ‘new Berlin’; a sentiment which has stuck and he’s since seen repeated.

‘The city has never just belonged to one type of person,’ he reflects.

‘Manchester has students, entrepreneurs, creatives, working class people, musicians, football fans, and people who have lived here for generations all rubbing together. That mix is part of what gives the city its energy.’

James isn’t concerned that Manchester is becoming successful. He’s proud of that fact. His concern lies in the future of the neighbourhoods that made that city ‘so attractive in the first place.’ He doesn’t want to see them become ‘so expensive they lose part of that mix.’

He concludes: ‘You want growth, better restaurants, better jobs and better places to live, but you don’t want the city to become sterile.’