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Property

Average UK house price hits £250k: Here’s what that’ll get you in Greater Manchester

Looks like I’m moving to Bolton then…

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RightMove

Bad news for first time buyers: The average UK house price has reached £250,000 for the first time, making the prospect of owning a home even more unrealistic for thousands of people across the country.

But what could that sum of money buy you here in Greater Manchester?

While it is common knowledge that buying a house up in the North is a considerably cheaper alternative to buying in the South, prices are slowly creeping up here too, making it even more difficult for people to get themselves on the property ladder.

Prices vary from borough to borough, so we had a snoop on RightMove to see what exactly £250k can get you in each location. Here’s what we found…

RightMove

RightMove

Salford

For 250,000 sheets, those looking to settle down and buy in Salford can get themselves this lovely – though admittedly a little dated – three bedroom semi-detached house down Eccles New Road.

The garden is undeniably the best feature of the property, with an abundance of space for avid gardeners and vegetable plotters to throw themselves into. It is also situated in an enviable location with it being within walking distance from a Metrolink station, Salford Royal Hospital (because you can never be too careful) and Salford Quays.

However, as the photos demonstrate, the house is in desperate need of a lick of paint (and a new fireplace, obviously), especially if a young couple are moving in.

You can see the full property listing here.

RightMove

RightMove

Rochdale

Over in Norden in the borough of Rochdale, £250K can get you this gorgeous three bedroom cottage, complete with one bathroom and an absolutely massive kitchen with actual wooden beams.

Located in the heart of the Norden countryside, this property is ideal for all those looking to swap the hustle and bustle of city living for a wholesome lifestyle in that ‘proper’ country fresh air. The cottage boasts tons of space, including three double bedrooms, a large dining room and living area, and two generous gardens, front and back.

I struggled to find any faults with this property other than it being a tad dated and in the middle of nowhere; though it does seem to only have electric heaters instead of a gas central heating system, which could rack up your energy bill in the colder months.

You can see the full property listing here.

RightMove

RightMove

Stockport

Back in the city, £250K gets you considerably less than a countryside cottage and promises a hell of a lot more blood, sweat and tears with this three bedroom end-of-terrace.

Located in Heaton Chapel, Stockport, this house strikes me as oddly charming from the outside thanks to its unique yellow and green painted door and window frames. However, upon setting foot inside the property, you’ll find that tens of thousands of pounds worth of work is desperately needed to make the property liveable.

The photos show wallpaper – which could have only been purchased in the 1970s – peeling from the walls in a number of rooms, while tiles and floorboards lay broken and smashed on the floors. Oh, and there’s literally no counters or worktops in the kitchen, which wouldn’t be helpful.

Though I have to admit, this house has a lot of potential for those who are willing to give it some love (and a couple of bank loans).

You can see the full listing here.

RightMove

RightMove

Manchester

Over in Fallowfield, Manchester, you’ll also struggle to get your money’s worth for £250,000 with this four bedroom terraced house.

The property, which looks destined to be rented out to easygoing students, features four bedrooms, a large cellar (not the romantic wine kind, sadly), and two bathrooms ideal for those happy to share and pinch each other’s shampoo. It is also located within walking distance from the universities and both Oxford Road station and Piccadilly station.

Though it is worth noting that the house, which is very narrow and will definitely need a good lick of paint and some new furnishings before anyone could comfortably live there, sadly reflects the rising costs of central Manchester living. My advice? Get out of the city and into the derelict countryside if you’re wanting more bang for your buck.

You can see the full listing here.

RightMove

RightMove

Wigan

Now that’s more like it… Over in Leigh, Wigan, where pies are in an abundance, you’ll be able to spend your £250,000 on this lovely three bedroom detached house.

Located close to the East Lancashire Road, this property boasts massive space throughout, though there are some slightly questionable decorations and furnishings. Like many of the properties up for grabs at this price in the region, the house feels a little 70s and could definitely do with a spruce up (did you ever see a kitchen so sterile looking?).

But overall, this house is a total steal and has huge potential with it’s massive front-facing windows and promising garden (which even comes with it’s very own willow tree!) That’s worth the security deposit alone, in my opinion.

You can see the full listing here.

RightMove

RightMove

Tameside

£250,000 is money well spent in Broadbottom, Hyde, with this gorgeous two bedroom end of terrace property with, low and behold, space for an actual vegetable patch. 

While the back garden boasts stunning views of the surrounding countryside, around the front of the property there is another large garden with flower beds and a small pond. Inside, the house has a large open plan living and dining area complete with rustic burning stoves, and a generously sized kitchen perfect for cooking all those home-grown veggies.

The property also features a new side extension and plenty of room for storage, something that’s quite hard to come by these days.

You can see the full listing here.

RightMove

RightMove

Oldham

Over in Oldham, £250,000 will get you this charming three bedroom semi-detached property, complete with a conservatory and, miraculously, modern decoration and furnishings.

Yep, in probably the first modern listing I’ve come across under this price bracket so far, this house is located down a quiet cul-de-sac just a stone’s throw away from a number of schools – so it’s perfect for those looking to settle down and start a family. 

The house is also situated nearby to a Metrolink station, Ashton-Under-Lyne train station and the motorway, making it an ideal location for those wanting to get out and about. 

You can see the full listing here.

RightMove

RightMove

Trafford

In Trafford, you’ll be getting a little less value for £250,000 with this three bedroom end-of-terrace property that is in urgent need of a spruce up and de-weeding.

Though it may be a haven for die-hard Manchester United fans, considering it’s just a short walk away from the football clubs Old Trafford home ground. It is also located close to local schools and has good transport links to the city centre, if Man United isn’t your cup of tea.

The house also features a cosy living room, a decent sized kitchen and a large garden which, with some TLC, could have some great potential for those summer barbecues. 

You can see the full listing here

RightMove

RightMove

Bolton

Westhoughton in Bolton has knocked it out of the park with this gorgeous three bedroom semi detached property priced at, you guessed it, £250,000. 

This refreshingly modern home features two bathrooms, a stylish and newly fitted upstairs bathroom and kitchen and a large master bedroom. Outside, there’s a massive double driveway and an extension to rear.

And guess what? Not a single strip of floral, 1970’s wallpaper in sight! The area is massively sought after among families, and is close to a number of transport links. 

You can see the full listing here

RightMove

RightMove

Bury

And last but not least, this is what you can get for £250,000 over in Brandleshome, Bury – and, to be honest, I’m impressed. 

This three bedroom detached house features a garage (!!!) which is completely unheard of in £250k Greater Manchester properties for some reason, a three-piece bathroom suite and a lovely open plan living room and dining area. 

Outside, there’s a generous garden space with some lovely trees and shrubs – because who doesn’t love a good bit of greenery in grey and rainy Manchester?

You can see the full listing here

Property

Luxury MediaCity apartments available for as little as £60k under shared ownership

The interior designs for these luxury homes were inspired by the hit Netflix show, The Queen’s Gambit.

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Latimer

The MediaCity High Definition apartments by Latimer are now ready to buy.

Surprisingly affordable, homebuyers could snatch one of these glossy new apartments for less than 60k thanks to a shared ownership scheme.

Prices start from as little as £57,450 (based on a 30% share of £191,500) for a one bedroom apartment under shared ownership, so getting your foot on the property ladder might be more attainable than you thought.

Latimer, the development arm of Clarion Housing Group, has announced the handover of the first apartment block at its flagship £70m HD development in MediaCity, and the first residents have already started moving in.

Latimer

A total of 100 apartments of the 280 will be available through Latimer’s shared ownership offering.

A shared ownership mortgage will allow people to part buy, part rent one of these properties while increasing their share of ownership over time until they own their property outright.

Some of the unique features for residents to take advantage of include modern and spacious communal areas such as a Club HD terrace lounge, co-working spaces and a multi-function private room – suitable for professionals on their working from home days.

Latimer

There’s also a 24-hour concierge and audio door entry systems for high-spec securityAnd if that’s not enough to sway you, the interiors are inspired by the hit Netflix show, The Queen’s Gambit.

The communal area is decked out with comfy beanbags, curved retro sofas, leather reclining chairs, stools shaped like giant chess pieces and wooden tables with their own built-in wine bottle holders. And there’s a cocktail bar complete with wine fridge, as well as pool and table tennis tables.

Paul Walker, National Sales Director at Clarion Housing Group, said: “It’s fantastic to reach another key moment in the life of our exciting High Definition development as we see the first residents make it their home.”

“Straight away, they will be able to get the full High Definition experience, with access to the luxurious residents’ lounge and high spec co-working spaces, which will make the development feel more than just a home, but a vibrant community,” he added.

Overall, 132 one-bedroom, 136 two-bedroom and 12 three-bedroom apartments are available at High Definition. Prices for one-bedroom apartments start at £203,000. Two-bedroom apartments are available from £286,000 and three-bedroom apartments are available from £430,000.

A Second residential block at HD, Aria, is scheduled to handover in February next year.

You can find out more HERE.

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Property

Developers unveil plan to transform forgotten corner of Lever Street

It is hoped the historic buildings will be transformed into a brand new mixed office space

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New life could soon be injected into two derelict buildings in the Northern Quarter thanks to an upcoming public consultation. 

Real estate developer Soller Group is holding the consultation on Wednesday November 2nd for its city-centre development proposals, where it will invite members of the public to comment on its plans to develop a prominent site on the corner of Lever Street and Great Ancoats Street.

The proposed heritage-led scheme aims to transform the existing site into a brand-new c.100,000 sq ft office led mixed-use development through a combination of sensitive retention and restoration of historic buildings, and the addition of a contemporary new building set back from Lever Street.

The developer is hoping to create a community hub, restaurant and bar offering in the restored ground floor buildings, and offices above designed to cater for creative businesses as they grow in the NQ. Currently as creative companies expand they are being forced out of the NQ due to a lack of modern office space.

Designed by Glenn Howells Architects, the scheme also hopes to promote economic benefits, including the potential to generate 800 direct jobs in the city and a predicted annual GVA contribution of £60m to the Greater Manchester economy.

Following the public consultation and review of feedback, it is hoped a planning application will be submitted in early Spring 2023.

Soller’s CEO Nick Treadaway said: “We’re very much looking forward to meeting with the general public and listening to their views on our proposals.

“This is a very complex site presenting many design challenges both from a heritage and massing point of view.

“It has been our priority to develop these plans sensitively and respectfully, ensuring that the end result provides a modern building which sits sympathetically within its surroundings.”

Members of the development team will be at the consultation event, which takes place on Wednesday 2nd November between 4pm and 7pm at Huckletree, The Express Building, 9 Great Ancoats Street.

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Property

Help to Buy loan for first-time buyers is coming to an end this October

First time buyers can invest in luxury apartments using the scheme before the deadline…

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Latimer & Reeds Rains

The Help to Buy: Equity Loan Scheme getting first-time buyers on the property ladder is coming to an end this October, potentially foiling the plans of thousands hoping to secure their first home this year.

The loan has proven to be a huge hit among those buying their first property over the last year, due to the fact they can purchase a house with a 5% deposit, rather than the traditional 10%.

The government then gives a 20% deposit contribution for the first five years, completely interest free.

Through the loan, homeowners have also been able to purchase their property at 75% loan to value, which eventually unlocks better mortgage product deals down the line.

@gregwillson / Unsplash

However, with the HTB scheme due to come to an end in March 2023, all new applications must be completed by October 31st this year.

Back in 2018, the government first announced that the Help to Buy: Equity Loan scheme would run from April 1st 2021 to March 31st 2023 and, according to the Gov.uk website, there are no plans to extend or replace it.

So as the deadline looms, prospective buyers here in Manchester are scrambling to get their finances in order and viewings booked in to take advantage of the scheme for one last time. 

And one of the unlikely places accepting Help to Buy loans is HD Media City, which is allowing buyers – first-time and those already on the ladder – to snatch up its luxury apartments with a 5% deposit.

Latimer

There are also 100 shared ownership units available, which is a good option for buyers wishing to purchase at a lower price point and with a smaller deposit.

But the Help to Buy scheme is the real star of the show for HD because, unlike similar flats in Manchester city centre, many of its one bedroom apartments fall below the HTB regional cap of £224k, allowing buyers to use the scheme to scoop up an apartment with only a 5% deposit.

Stephen Maskill, the regional sales manager at property developer Latimer, told Proper Manchester: “Almost all of the one bedroom apartments at High Definition fall under that regional cap, so it’s great that we can offer really nice luxury apartments with the Help to Buy scheme.

“It’s a very unique feature for this type of apartment to be available with that scheme.

Latimer

“This month we’ve done several Help to Buy sales already, so it’s clearly very in demand, it’s proving to be very very popular.”

HD was born with a vision to create an affordable and community-led luxury living space in the heart of the exclusive Media City.

Stephen said that in the wake of the Covid pandemic, a strong sense of community was at the forefront of the vision when building and developing the apartments.

He explained: “After millions of people were stuck and isolated in their Homes during the Covid lockdowns, we really wanted to deliver a community-led space with co working and recreational facilities for all, as well as somewhere that encourages a healthy work-life balance for residents.”

Latimer

Energy efficiency was also a priority during development, with each apartment having the highest EPC ratings possible amid the cost of living crisis.

Stephen said: “The EPC ratings in these apartments are exceptional, which means utility bills and heating bills will be extremely low and affordable because of how insulated and efficient the building is.”

As for the location, Stephen says now is the perfect time to invest in a home in Media City, which offers the ‘perfect mix’ of city centre living and suburban tranquility thanks to its acres of green spaces and cultural attractions, as well as its selection of restaurants and bars.

He also says Media City is anticipating ‘tens of millions of pounds worth of investment’ in the next couple of years, giving buyers all the more reason to get moved in while it’s affordable.

Latimer

He explained: “Media City has had a lot of money pumped into it already, but there’s a huge amount of investment and development yet to come… It’s going to keep growing into a larger destination, and will become just like Manchester city centre by the time it’s finished.

“So buyers will be getting in at a good time where values and prices will be driven by the investment that’s coming into the area.”

And offering a bit of advice to first-time buyers hoping to secure their first home, Stephen said: “Buy now, and get yourself locked into a five year mortgage product deal. Future-proof what you’re going to be spending for the next five years on a mortgage.”

To find out more about HD Media City, the homes it has to offer and which payment plan will suit you best, visit the Latimer Homes website.

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