The winners and losers of the Greater Manchester real estate boom in 2020 have been announced. Bryn, Radcliffe, Cadishead, Hulme and Moss Side are the hottest areas in the region, according to new research.
Data from Manchester-based transportation specialist JMW Solicitors LLP, which compared Google Trends data from July 2019 to July 2020, showed that property searches for sale in Bryn rose 179% from 140 to 390.
Radcliffe (132%), Cadishead (125%), Hulme (100%) and Moss Side (100%) saw similar gains as the property market soared after the initial lockdown.
Andrew Garvie, Head of Real Estate Residential at JMW Solicitors LLP said:
“The unprecedented impact and disruption of the coronavirus pandemic on all aspects of life has led many people to choose to reassess their priorities. With more people spending more time indoors than ever before due to the lockdown, it’s no wonder thousands of families have decided to make changes to their living conditions.
“Greater Manchester was no exception to the housing market boom across the UK after the initial lockdown. Thousands of potential searches were conducted among potential homeowners planning to move.”
While the vast majority of areas in the Greater Manchester area saw an increase in demand as the national property market boomed, their popularity with others has waned and Google searches for property in some areas have stagnated despite the increase.
Aspull, Rusholme, Northenden, and Kearsley each performed the same number of searches in July 2019 as they did in July 2020, meaning they saw 0% growth during the busy period. Nowhere in Greater Manchester where data was available has popularity declined during this period.
Andrew Garvie said, “While it is interesting to see that many more urban areas, including the normally popular Fallowfield, have seen no growth after the initial 2020 lockdown, we may see an increase in the number of people moving to the outskirts of the city looking for a quieter life with more outdoor space.
“The coronavirus pandemic has certainly shifted the type of properties people have been looking for and we can only expect that search for larger homes with gardens in quieter locations to continue into the future.”
House prices across the UK hit record highs in 2020 despite the economic downturn caused by widespread restrictions. House prices rose 7.6% through November 2020, while Nationwide’s index showed a 6.5% increase, according to Halifax’s Mortgage Tracking Index. Similarly, Rightmove estimated that asking prices had increased 6.6% in the twelve months to December, while the Bureau of National Statistics transactional data found a 5.4% increase through October.