Manchester has recorded the highest house price growth among major UK cities over the past decade, with values increasing 63% compared to London’s 7%, according to new analysis by Rightmove.
The data reveals a widening north-south divide in the property market, with southern English cities absent from the top 10 fastest-growing locations for price growth, whilst accounting for half of the slowest-growing areas.
Regional performance
Following Manchester, Wolverhampton, Newport and Nottingham recorded the largest price increases over the 10-year period. The analysis also identified that the four fastest-growing local areas are all suburbs within Greater Manchester.
Colleen Babcock, Head of Partner Marketing at Rightmove, attributed the divergence to affordability constraints. “By contrast, London has seen much slower growth over the same period, reflecting how higher prices in the capital have limited how much further buyers can stretch,” she said.
“Areas with lower starting price points have had more room for growth, which has contributed to a widening north-south divide in price growth trends over the last ten years.”
The findings contrast with trends in prime London property markets, where different dynamics have affected buyer behaviour.
Investment drivers
Maurice Kilbride, Managing Director at Maurice Kilbride Residential Sales in Cheadle, Greater Manchester, pointed to employment opportunities and infrastructure as key factors. “Strong employment opportunities, significant inward investment, excellent transport links and a vibrant lifestyle offering have helped attract people from across the UK and beyond,” he said.
“What’s particularly noticeable is that the city’s success has extended well beyond the centre, with surrounding suburbs also benefiting from increased demand as buyers look for a balance of space, connectivity and quality of life.”
The growth in Manchester has also attracted property developers, with recent development financing activity reflecting continued investor confidence in the region.
Market implications
The data suggests that affordability remains a critical factor in regional price performance, with cities offering lower entry points demonstrating greater capacity for capital appreciation. The figures provide context for investors assessing regional opportunities across the UK property market.
