The report found some surprising shifts at a regional level in the UK housing market in 2023. For example, slower price growth in London since 2016 has led to vendors in Wales making more significant gains than those in the capital in percentage terms. However, in cash terms, Londoners continue to beat out other regions, driving, on average, a considerable profit of £204,190.
But only 88% of sellers in London sold their home for more than they paid, compared to over 90% in most other regions, including 92% in the North West.
The biggest winners in terms of local authorities in 2023 were Outer London suburbs and areas that have seen substantial developments and regeneration over the past 10 years, such as Bristol, Manchester and areas of Greater Manchester like Trafford, Tameside, and Oldham.
This demonstrates the effect regeneration can have on property values in an area and underpins Greater Manchester’s popularity as a property investment hotspot in recent years.
To learn more about some Greater Manchester buy-to-let locations, check out our guides covering investment property in Stockport and investment property in Bolton.
