Manchester house prices

Official figures from the Land Registry show annually Manchester's house prices have increased at slightly above the England and Wales average, showing an increase of 9.5 per cent from May 2006 to 2007 to reach an average of £107,279.

Compared with the surrounding region, the Land Registry figures reveal a Manchester property costs around £25,000 less than the north-west average, and the city's annual house price inflation is 2.5 percentage points higher than the regional average.

In terms of asking prices, online estate agent Rightmove finds prices reached £155,631 in June, a rise of seven per cent on the same time last year.

"Manchester is no exception with the housing market here showing signs of abating. It has seen an annual increase of seven per cent which is a gain of £10,179 in a year but property prices have started to level off and the average property price in Manchester went down by 0.2 per cent in June," commented Miles Shipside, Rightmove commercial director.