Property in Salford Quays, Greater Manchester

The former industrial area of Salford Quays in the south of Greater Manchester is getting a reputation as an up and coming property hotspot.

It is already home to the Lowry centre, where there is a huge range of events, from theatre to jazz concerts, family days out and art exhibitions, and Salford Quays is expecting more high profile businesses moving to the area, including the BBC.

One new project in particular that may change the appeal of Salford Quays as a property location is Media City - a new hub of creative agencies in Manchester, including new BBC offices.

"It's got great links and is quite a different location compared with central Manchester," explained Simon Halls, managing director of Vivacity, a developer in the area.

The area has echoes of the Docklands, now one of the capital's highest priced property areas outside of central London.

Mr Halls said Salford Quays does not yet "have the same buzz as the Docklands" but expected it to be a "standalone" place to go in Manchester "a destination in itself" in the next 18 months to two years.

Greg Barnard of estate agent Knight Frank agrees. "Salford Quays is set to thrive," he said, adding around 200 acres of land, to be filled with 2,500 new employees, from media, new media and technology companies, in the Media Centre would transform the area.

How much do properties cost?
One and two-bed new-build apartments are the most widespread at the moment.

According to FindaProperty.com house prices range from £101,467 for studios to £224,640 four-bed houses across Salford.

Rightmove.co.uk finds most properties in the M50 Salford Quays postcode in the last two years were flats, with an average price of around £230,000.