We’ve seen the lengths homebuyers will go to get their hands on property in some Greater Manchester hotspots – like with this ex-council house in Burnage which received 10 offers before people even stepped foot inside.
But struggling house hunters who keep getting outbid could be in luck if they start looking in the right areas.
Many sellers are accepting offers below the asking price in some postcodes, according to a new analysis.
READ MORE: Shoppers ‘amazed’ by mum’s £1 autumn wreath she created with her young son
Property Solvers has revealed the top 15 areas in and around Greater Manchester where you’re likely to negotiate down on the asking price.
On average, homeowners in the region accepted offers £5,720 less than asking price over the past year.
The property firm compared data from Rightmove on asking prices against HM Land Registry data, which showed how much homes actually sold for in the area, for the period from October 2020 to October 2021.
(Image: Adam Vaughan)
The postcode M8, which covers Cheetham Hill and Crumpsall, saw the biggest price difference – with the average asking price as £196,428, but with houses selling for £178,000 on average – meaning a drop of £18,428 or 9.843 per cent.
M16, covering Old Trafford and Whalley Range, also saw a huge drop, with average asking prices at £339,514 but sales at £323,531 – a difference of £15,983 or 4.8 per cent.
In third place was M4, covering Droylsden and Urmston, where home sellers on average were asking for £169,983, but properties in the area went for an average of £155,333, meaning a £14,650 cut, or 9pc.
Also in the top five were SK10 – where the average price drop was £12,524 – and WA14 – where sellers accepted offers for £12,057 less than the asking price on average.
Get the latest updates from across Greater Manchester direct to your inbox with the free MEN newsletter
You can sign up very simply by following the instructions here
Top 15 areas where you’re likely to negotiate the price
Here is a list of the top 15 areas across the region which saw the biggest price drop in properties sold, according to Property Solvers:
Receive newsletters with the latest news, sport and what’s on updates from the Manchester Evening News here.
Credit: Source link
