MANCHESTER, ENGLAND, October 26, 2012 (Press-News.org) There has been significant change within the Manchester and the North West housing markets in recent years, despite the fact that nationally house prices continue to tread water.
Over the last decade, prices in both the city and the region have experienced significant change. Since 2002 the average property price in Manchester has increased 57%, from GBP78,328 to GBP123,063 in 2012. However, in the last five years, when the market has fallen from its peak, this figure has dropped 22% from an average of GBP158,541 in 2007.
Regionally property prices have increased 46% (GBP89,465 to GBP130,397) since 2002, meaning both the local and regional averages have outperformed the UK increase of 38% in the last decade.
Colin Baldwin, Halifax Mortgage Manager for Manchester Central, comments: "The changes in the property market in recent years have been very much reflected in our experience locally. Whilst property prices have risen, Manchester remains popular amongst first time buyers who are attracted to the lifestyle and variety of property types that are available in their price range.
"We have noted a marked increase in the number of mortgage applications from people looking to buy in the city, as apposed to the wider region, in recent months and our longer term fixed rate mortgages have proved particularly popular due to the reassurance that they give buyers managing their monthly outgoings."
Postcode Price Changes
Of 18 Manchester postal areas included in Halifax's analysis, all have experienced rises in the average property price since 2002.
Cheetham Hill and Crumpsall have seen the greatest increase over the last ten years, rising 119% from GBP47,547 in 2002 to GBP104,292 in 2012 with average property prices in Blackley, Burnage, Moston and Newton Heath also increasing by over 100% in the last decade. The smallest increase (23%) was in Urmston, Davyhulme and Barton Dock Road.
First Time Buyers
The average price of property bought by first time buyers in Manchester has increased by 68% in the last decade, which is marginally less than the regional increase of 72%.
In the 12 months to July 2002, the average price of a property on the first rung of the ladder in the city cost GBP64,194 (North West GBP60,420) with this figure now standing at GBP107,899 (NW GBP103,869). However, in 2007 this amount was GBP130,599, representing a fall of 17% in the city in the last five years.
At GBP19,726, the average first time buyer deposit in the city is slightly higher than the regional average, which stands at GBP18,661.
Difference in Property Types
Detached homes are the only property type which has a higher average price in the North West than Manchester. Regionally the average price for detached property is GBP236,177, whilst in the city this stands at GBP188,772.
Editors' Notes:
All price figures refer to the arithmetic average of house prices and have not been standardised. These prices are not standardised and therefore can be affected by changes in the sample from year to year. The data covers the period 2002 to 2012 and has been extracted from the Halifax House Price database. The figures cover the 12 months to July 2012.
"This report is prepared from information that we believe is collated with care, however, it is only intended to highlight issues and it is not intended to be comprehensive. We reserve the right to vary our methodology and to edit or discontinue/withdraw this, or any other report. Any use of this report for an individual's own or third party commercial purposes is done entirely at the risk of the person making such use and solely the responsibility of the person or persons making such reliance."
Website: http://www.halifax.co.uk
Manchester: House Price Performance -- City House Prices Outperform National Average
There has been significant change within the Manchester and the North West housing markets in recent years, despite the fact that nationally house prices continue to tread water.
2012-10-26
ELSE PRESS RELEASES FROM THIS DATE:
Fusion Electronic Cigarette Rates as One of the Best E Cigarette Deals of the Year
2012-10-26
Fusion electronic cigarettes are known for high-quality electronic cigarettes that are affordable, always come with perks like free shipping, and come with a free case with every kit purchase.
The company has repeatedly stated that their goal is to make their products available to all smokers looking to make the jump to a much superior lifestyle.
"We know times are hard and the electronic cigarette can cut the cost of smoking down to crazy savings compared to tobacco smoking," states Tiffany Ellis of Firelight Fusion. "Because of our low prices, excellent ...
The Container Store Stands for More Than Just Fabulous Closets
2012-10-26
The Container Store, the nation's leading retailer of storage and organization products, is shouting from the roof-top its employee-first culture and how they are helping communities along the way by getting their customers involved - putting purpose before profits - in its new What We Stand For campaign.
The Container Store stands for EMPLOYEES first in all that they do. By putting its employees first, customers' lives are improved with great service and the gift of organization delivered by their happy, well-trained and enthusiastic salespeople. And if customers are ...
Study suggests caution and further studies on drugs used to treat macular degeneration
2012-10-25
LA JOLLA, CA – October 24, 2012 – Millions of people with "wet" macular degeneration are prescribed a class of medication known as anti-VEGF drugs. But now scientists at The Scripps Research Institute (TSRI) have found that a drastic reduction of VEGF activity may do more harm than good.
In the new study, the researchers deleted the gene for the blood-vessel growth factor VEGF, which has been implicated in stimulating abnormal blood vessel growth in a range of cancers and eye diseases, from cells in the retinas of adult mice. The results showed that without VEGF a large ...
Climate change may alter amphibian evolution
2012-10-25
Most of the more than 6,000 species of frogs in the world lay their eggs in water. But many tropical frogs lay their eggs out of water. This behavior protects the eggs from aquatic predators, such as fish and tadpoles, but also increases their risk of drying out. Justin Touchon, post-doctoral fellow at the Smithsonian Tropical Research Institute, discovered that climate change in Panama may be altering frogs' course of evolution.
By analyzing long-term rainfall data collected by the Panama Canal Authority, Touchon discovered that rainfall patterns are changing just as ...
Unmasking the deadly secrets of pancreatic cancer
2012-10-25
A large-scale study that defines the complexity of underlying mutations responsible for pancreatic cancers in more than 100 patients was published in Nature today.
The analysis represents the first report from Australia's contribution to the International Cancer Genome Consortium (ICGC), which brings together the world's leading scientists to identify the genetic drivers behind 50 different cancer types.
Pancreatic cancer has the highest mortality rate of all the major cancers and is one of the few for which survival has not improved substantially over the past 40 ...
National Heart Centre Singapore develops world's first human heart cell model
2012-10-25
Researchers at the National Heart Centre Singapore (NHCS) have successfully created a human heart cell model of arrhythmogenic right ventricular cardiomyopathy (ARVC), an inherited heart muscle disorder which puts one at high risk of developing life-threatening arrhythmias and sudden cardiac death. The NHCS research team discovered that key characteristics of the disease, such as abnormal "fatty changes" and altered distribution of proteins involved in cell-cell connections (called desmosomal proteins) are reproduced in the heart cells. This novel cellular model for studying ...
Restricting high-risk individuals from owning guns saves lives
2012-10-25
On July 20, a gunman in Aurora, Colorado, used an assault rifle to murder 12 people and wound 58 others. Although this was one of the worst mass shootings in U.S. history, all mass shootings account for a small percentage of gun violence that occurs in the U.S. every day. In the past 100 days since the Aurora shooting, an estimated 3,035 Americans have died as a result of gun violence.
A new report by researchers at the Johns Hopkins Bloomberg School of Public Health examines policies and initiatives for reducing gun violence in the U.S. by reforming current gun policies. ...
Sensory neurons identified as critical to sense of touch
2012-10-25
DURHAM, N.C. – While studying the sense of touch, scientists at Duke Medicine have pinpointed specific neurons that appear to regulate perception.
The sensory neurons are characterized by thin spikes, and based on their volume, these protrusions determine the cells' sensitivity to force.
The findings in fruit fly larvae, which appear in online Oct. 25, 2012, in the journal Current Biology, demonstrate the first known function for the sensory neurons and provide insights that could broaden the understanding of chronic pain syndromes in humans.
"On a molecular level, ...
Penn-Temple team discovers gatekeeper for maintaining health of cell energy source
2012-10-25
PHILADELPHIA - Most healthy cells rely on a complicated process to produce the fuel ATP. Knowing how ATP is produced by the cell's energy storehouse – the mitochondria -- is important for understanding a cell's normal state, as well as what happens when things go wrong, for example in cancer, cardiovascular disease, neurodegeneration, and many rare disorders of the mitochondria.
Two years ago, Kevin Foskett, PhD, professor of Physiology at the Perelman School of Medicine, University of Pennsylvania, and colleagues discovered that fundamental control of ATP is an ongoing ...
Study reveals genetic causes of a male infertility disorder
2012-10-25
Severe spermatogenic failure (SSF) is a genetic condition that causes low sperm count and infertility. New insights into the genetic alterations that cause this disorder and their prevalence in populations of men around the world are provided by a study published by Cell Press in the American Journal of Human Genetics on October 25. The findings reveal which alterations are the greatest risk factors for the disease, and they could be immediately applicable in genetic counseling for assisted reproduction.
"Medically relevant population genetics studies are well established ...
LAST 30 PRESS RELEASES:
Can enzymes from fungi be used to extract plant components for biofuels and bioplastics?
To what extent are tree species in Mexico and Central America threatened by extinction?
How likely are extreme hot weather episodes in today’s UK climate?
Tumor DNA analysis for every child in the Princess Máxima Center
To encourage scientific thinking, it is better to instruct than to reward
Sevenfold boost in lifespan of anode-free all-solid-state batteries using MoS₂ thin films
Ancient groundwater records reveal regional vulnerabilities to climate change
New monstersaur species a ‘goblin prince’ among dinosaurs
Father-daughter bonding helps female baboons live longer
New species of armored, monstersaur lizard that lived alongside dinosaurs identified by NHM paleontologists
Puberty blockers do not cause problems with sexual functioning in transgender adults
High levels of antihistamine drugs can reduce fitness gains
‘Virtual ward’ bed uses 4 times less carbon than traditional inpatient bed
Cannabis use linked to doubling in risk of cardiovascular disease death
Weight loss behaviors missing in tools to diagnose eating disorders
Imaging-based STAMP technique democratizes single-cell RNA research
Hyperspectral sensor pushes weed science a wave further
War, trade and agriculture spread rice disease across Africa
Study identifies a potential treatment for obesity-linked breathing disorder
From single cells to complex creatures: New study points to origins of animal multicellularity
Language disparities in continuous glucose monitoring for type 2 diabetes
New hormonal pathway links oxytocin to insulin secretion in the pancreas
Optimal management of erosive esophagitis: An evidence-based and pragmatic approach
For patients with multiple cancers, a colorectal cancer diagnosis could be lifesaving — or life-threatening
Digital inhalers may detect early warning signs of COPD flare-ups
Living near harmful algal blooms reduces life expectancy with ALS
Chemical analysis of polyphenolic content and antioxidant screening of 17 African propolis samples using RP-HPLC and spectroscopy
Mount Sinai and Cancer Research Institute team up to improve patient outcomes in immunotherapy
Suicide risk elevated among young adults with disabilities
Safeguarding Mendelian randomization: editorial urges rethink in methodological rigor
[Press-News.org] Manchester: House Price Performance -- City House Prices Outperform National AverageThere has been significant change within the Manchester and the North West housing markets in recent years, despite the fact that nationally house prices continue to tread water.