The 'unexpected' Greater Manchester area named one of UK's 'hottest' property markets this year

House prices in Greater Manchester, particularly in Oldham, have seen unexpected growth this year, outperforming the wider market. According to eXp UK’s analysis, North East Derbyshire leads with a 10.5% increase in average home prices, closely followed by Melton and Oldham at 10.4% and 10.3%, respectively. The average price in Oldham rose from £193,722 to £213,742, a notable jump of £20,020. Other regions like Mid Ulster and Derry City are also experiencing significant growth. Adam Day, head of eXp UK, highlighted that while the national trend is modest, local markets are thriving. Zoopla also recognised Oldham as one of Britain’s hottest markets for growth, particularly noting that the North West is seeing the fastest price rises. Meanwhile, southern areas of England are experiencing declines in house prices, attributed to higher costs and taxes on second homes, with some coastal areas seeing reductions of up to 2.4%. Overall, it’s clear that local demand dynamics play a crucial role in the property market’s performance.

Read the full article at Manchester Evening News