Property prices in Manchester

The Manchester average from completed sales is £280,423 across the last twelve months, drawn from land registry records rather than listings.

Across the last twelve months completed sales are 6.8% lower than a year earlier. Over five years they are 2% lower than five years earlier, which is closer to the period most landlords actually hold a property for.

• Sold prices, twelve months

  -6.8%

• Sold prices, five years

  -2%

• Gross yield

  10.3%

• Price per square foot

  £349

Manchester carries a deep rental market built on two large universities, a city centre that keeps adding homes and suburbs that let quietly all year. Owners often buy here from elsewhere and never see the property in person.

The table below is the price series our data supplier holds for the area, one row a year, with the movement across each year beside it. It is the same series the valuation on your own report is anchored against, which is why a report can say what your home is worth today from what it sold for years ago.

A trend is a description of the past, not a promise. What it is genuinely useful for is a sanity check: if the price you are being asked to pay assumes a rise the last five years never delivered, you are buying someone else's optimism.

A landlord buying in Manchester is choosing a type as much as a place, so the sold averages are split by type below. The number of sales behind each figure is shown beside it, so you can see how firm it is before you lean on it.

Across the area homes sell at about £349 per square foot. Price per square foot is the fairest way to compare two homes of different sizes on the same street, and it is the first thing a surveyor looks at. If a home is priced well above the local figure per square foot, something else is paying for it: a garden, a recent extension, or an owner's hope.

The gross yield our data reads around Manchester is about 10.3%, before management, certificates, insurance and repairs.

Gross yield is not what you keep. Out of it come management, safety certificates, insurance, repairs and any empty weeks between tenants. The report on your own address sets the rent it can achieve against what the home is worth, so you are looking at your property rather than an area.

If you already own here and want the running of it taken off your hands, the management page for Manchester sets out what a high street agent charges on the area's real average rent against what Caso charges for the same work.

District matters twice over for a landlord: it sets what you pay and it sets what you can charge. The districts below are the Manchester postcode areas with enough homes advertised to give a fair rental average, which is the side of the sum most buyers guess at.

Put the two halves together before you buy: the rent a district actually achieves against the price a district actually commands. That is the yield, and it is the only number that tells you whether a purchase works.