The North West is a Property Hot Spot

Posted on July 29, 2021

It’s something local property solicitors have always known, but now it’s official, the North West is a property hot spot.

It’s an amazing place to live and work and we are all so lucky to have access to its open countryside; alongside a developing city centre full of culture and a growing economy we have vibrant towns and villages, amazing restaurants and bars and now it seems everyone knows it’s a top spot.

North West Property Solicitors

At Pearson Solicitors in Oldham and Manchester, our property solicitors have never been busier than ever and our local instructions range from 2-bed terraced houses to multi-million pound homes. However, more and more we are seeing people moving into the area, it’s a place they discovered on walks and trips during the pandemic when everyone was searching out their local countryside.

“The stamp duty tax breaks and changing priorities with a work life balance and more home working means our clients are often looking for bigger homes in which to live and work,” said Pearson Solicitors Head of Conveyancing, Victoria Marshall.

“Towns and villages in and around the North West tick all these boxes.”

Property Surveys

In recent surveys it has been noted that the North West is the region with the highest annual house price growth, with average prices increasing by 15.2%.

According to the Office for National Statistics (ONS) the average cost of a home is now £255,000, that’s a £23,000 increase on 2020.

“Data from the Land Registry shows that recently detached and terraced homes have recorded the biggest price increases and that is again typical of our local property market,” said Victoria.

The demand for property in the North West

As demand for property, especially a house with a garden or some outside space has increased, so supply has decreased with people staying put and investing in home improvements and so prices have been pushed up with over-asking-price offers being made to secure that perfect home.

“Residential property completions in June were 85% higher compared to the same month in 2019 and as property professionals we have been working all hours to get our clients into their new homes this summer,” added Victoria.

In March 2020 house moves were stymied but the pandemic has affected property in many ways. We did not see a reduction in instructions but rather growth on growth and we have boosted our team accordingly.

“People now see the benefit of living in the North West and we certainly couldn’t agree more it’s the place to live and work,” concluded Victoria Marshall.

For advice on your next house move contact the Pearson Solicitors Property team on 0161 785 3500 or email enquiries@pearsonlegal.co.uk

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

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