The unexpected Northern towns where house prices are booming

Telegraph

17-07-2025

House prices in the North have surged by up to £86,200 in the past five years, outpacing the rest of the country for growth, figures show.
Homeowners in Rochdale, Oldham and Bolton are more likely to have seen their property's value soar by at least 50pc since 2020, property website Zoopla found.
It said the area's proximity to Manchester and cheaper house prices had made it an 'increasingly desirable' option for first-time buyers looking to move away from expensive rent.
On average, eight in 10 UK homes have increased in value by 5pc or more – an average increase of £60,800 – with house values seeing a gradual increase since the pandemic, Zoopla said.
But the North beat every other part of the country for house price growth. In the North West, homeowners saw an average increase of £77,100. This rose to £86,200 in Yorkshire and the Humber.
Over half of the homes that had seen their value increase by 50pc or more in the past five years were in the North West, Wales and Yorkshire and the Humber.
Properties in Rochdale and Bolton rose in value by £64,300, and homeowners in Oldham saw an average £62,900 increase.
Alistair Stevens, of Alistair Stevens estate agency in Oldham, said rental prices had 'shot up' during a 'big uptick in first-time buyer interest'.
'It's cheaper to buy than to rent,' he said.
Business for the firm has soared, and Mr Stevens predicts the number of completions will have tripled since 2023, from 40 to 120 this year.
Oldham has quick links to Manchester – via the train, metro or by car – as well as offering access to the countryside, he added.
House prices are generally lower in the North, with the average home in the North East selling for £222,530 in the past 12 months. In the South East, this jumps to £453,937.
Nathan Emerson, of trade body Propertymark, said: 'This region is becoming increasingly desirable for people to move to. There are potentially attractive levels of affordability across the North West, and places like Manchester and Liverpool have seen vast enhancements over the last 25 years making them very appealing to relocate towards for work purposes.
'With regions like London and the South East remaining so expensive, it is understandable why many people are finding it attractive to relocate to areas like the North West.'
Meanwhile, a combination of 'high prices and higher mortgage rates have reduced buying power', which has led to flat prices in London, experts said.
The capital's property market has struggled as a result, with 13pc of homes losing an average value of £34,000, Zoopla said.
Boroughs such as Westminster and Kensington and Chelsea have been particularly hit, with nearly half of all homes valued below their 2020 estimates.
The pandemic also saw families move out of London in search of more outdoor space, as working from home boomed.
Richard Donnell, of Zoopla, said: 'Our latest analysis clearly shows there is no single housing market and that house price trends vary widely across the UK.
'Home value growth has been weaker across southern England and particularly in London. A combination of high prices and higher mortgage rates have reduced buying power and this has been reflected in flat prices and modest price falls in inner London.
'The UK currently has the most homes for sale in seven years. Its critically important serious sellers fully understand the local market dynamics impacting the value of their home and seek the advice of agents on where to set the asking price for their home in order to achieve a sale.'