New research has revealed just how much money residents in Manchester could potentially save from downsizing their house this year.
As homeowners edge closer to retirement and start to think about long-term financial security, downsizing to a home more suited to their needs is often near the top of the list of considerations.
Especially as older children may have flown the nest too and they tend to find themselves with a home that’s much larger than they need, moving somewhere a little smaller could end up freeing up hundreds of thousands of pounds to put towards retirement funds.
But, just how much money on average could Manchester homeowners be potentially be looking at saving?
In order to find this out for each of the UK’s most populated towns and cities, PensionBee took the average asking price of one, two, three, four and five-bedroom properties and calculated the price difference between each, as well as taking an average of these four saving figures.
ADVERTISEMENT
The research revealed that Manchester ranked in 11th place in the UK and that residents could save an average of £103,175 when downsizing in the area.
Pixabay
More specifically, you can save up to £314,552 by downsizing from a five bedroom house to a three bedroom house, and £98,146 by moving from a three bedroom house to a one bedroom house.
ADVERTISEMENT
The research also revealed that now could be one of the best times to downsize this year.
Discussing the research findings for 2020, Romi Savova – CEO at PensionBee – said: “Our research shows the considerable amount of money that could be tied up in your home [and] given the stamp duty holiday, there’s arguably been no better time to downsize, especially if you’re approaching retirement and looking to grow your income.
“Increasing evidence suggests that the majority of us aren’t saving enough for retirement, and where it might not be possible to make larger pension contributions, property can help bridge the gap.
ADVERTISEMENT
“As our data indicates downsizing could release a significant sum, right across the UK, so it’s something that could be worth considering if you want to boost your retirement fund.”
Here’s the top 20 UK cities where you can save the most money by downsizing:
Rank
Town/City
Five Beds
Four Beds
Three Beds
Two Beds
One Bed
Average saving
1
London
£2,146,131
£1,393,470
£1,128,398
£723,906
£474,607
£417,881
2
Brighton and Hove
£863,365
£632,964
£481,756
£360,653
£236,822
£156,636
3
Bristol
£791,128
£489,468
£342,070
£276,700
£196,692
£148,609
4
Bolton
£618,523
£369,597
£195,606
£133,004
£84,049
£133,619
5
Bournemouth
£667,657
£507,601
£366,319
£247,737
£141,586
£131,518
6
Aberdeen
£603,785
£331,739
£195,130
£129,599
£80,528
£130,814
7
Edinburgh
£660,064
£445,681
£393,861
£276,635
£197,293
£115,693
8
Leeds
£572,264
£395,867
£227,274
£167,157
£116,242
£114,006
9
Sheffield
£527,825
£348,063
£193,109
£141,579
£105,929
£105,474
10
Portsmouth
£549,374
£440,998
£280,073
£214,689
£132,212
£104,291
11
Manchester
£570,409
£344,853
£255,857
£208,888
£157,711
£103,175
12
Cardiff
£531,337
£378,172
£269,094
£193,468
£127,080
£101,064
13
Nottingham
£509,946
£378,716
£224,795
£175,878
£120,102
£97,461
14
Liverpool
£472,717
£310,644
£178,205
£143,983
£105,963
£91,689
15
Reading
£542,222
£422,053
£344,374
£259,948
£178,562
£90,915
16
Birmingham
£509,764
£372,092
£236,528
£200,296
£156,227
£88,384
17
Luton
£495,998
£411,158
£286,255
£200,874
£146,803
£87,299
18
Glasgow
£433,182
£302,186
£187,953
£139,144
£90,917
£85,566
19
Derby
£423,393
£327,623
£203,279
£135,381
£83,932
£84,865
20
Southampton
£462,263
£396,079
£284,668
£200,519
£133,328
£82,234
To read this study in full, you can do so via the PensionBee website here.
Property
Oldham mansion that starred in an iconic pop music video is up for sale
Thomas Melia
A Greater Manchester mansion that’s featured in one of the most famous music videos of the past decade is now up for sale.
Situated in the picturesque village of Uppermill, Oldham, Ashcroft House is currently listed at £2,350,000 accepting offers in the region of this figure.
The property has six bedrooms, six baths and five reception rooms – this mansion is a party host’s dream.
Ashcroft House has four storeys with the lower ground floor currently set up as a gym space and the ground floor boasting an eye-catching grand entrance hall.
This isn’t everything the lower ground floor has to offer. There are a number of breakout rooms such as a wine store, cinema room and your own personal steam room.
When going up another flight of stairs, the first floor’s main selling point besides the very large balcony is the matched walk in wardrobes paired with each of the six sleeping quarters, yes please!
The girls styling themselves in one of the many walk in wardrobes at Ashcroft House.The bold statement front door in the Oldham mansion.Credit: Youtube (@littlemix)
Finally, if that wasn’t enough to draw you in, there is another flight of stairs leading to the second floor which is currently acting as the house’s ever-impressive storage area.
With the rolling hills of Saddleworth nearby and a local pub a ten minute walk away, how could life possibly get any better?
Oh wait it does! In 2016 one of the UK’s best selling girl groups of all time shot a music video for their worldwide hit right here in these very four walls.
X Factor prodigies and three time BRIT award winning girl group Little Mix perched up with their film crew to spend 21 hours recording the video for their groundbreaking single ‘Hair’.
The video itself has amassed nearly 500 million views on social media platform Youtube since being released eight years ago.
The grand staircase that greets you as you enter this Greater Manchester property.The Little Mix girls having a bite to eat in Ashcroft House.Credit: Youtube (@littlemix)
The previous owner of the house even revealed that once the music video shoot wrapped up, the girls stayed with the family to share a slice of pizza or two.
If you’re interested in owning a piece of pop culture history or just as nosey as we are you can take a virtual tour of this mansion in Oldham here.
10 hot properties for sale in Greater Manchester | November 2024
Emily Sergeant
Every month, we show you some of the hottest properties currently on the market in Greater Manchester.
It’s safe to say that Mancunians love a good nosey around other peoples’ houses, and after all, Greater Manchester is a brilliant place to live.
But what can your money currently get you in the area?
In our monthly Hot Property series, we scour the internet to find 10 more of the most diverse, jaw-dropping, accessible, and beautifully-presented homes currently on the market in Greater Manchester for you to take a look at.
___
Millgate
Egerton, Bolton, Greater Manchester, BL7
Claves
Millgate / Credit: Claves
Detached | x4 Bedrooms | x2 Bathrooms
Situated at the end of a quiet residential street in the popular Bolton village of Egerton, which is highly-regarded for its local schools, and access to nearby amenities and transport links across Greater Manchester and beyond, is this four-bedroom detached family home that’s being offered to the market in immaculate condition.
Ready for growing families of all sizes to move straight into, the property has been renovated by the current owners to a very high standard, and now boasts flexible living spaces that are bright, modern, and open-plan.
Externally, the property has garden areas to the rear, and comes with off-road driveway parking for several vehicles.
Millgate / Credit: Claves
The property is currently on the market Bolton-based independent estate agents, Claves, for £575,000 (Offers Over).
How would you like to own your very-own piece of Manchester history? Well now you can. That’s because there’s a well-presented two-bedroom maisonette is currently on the market on Ancoats’ iconic Anita Street, and it’s merely a stone’s throw away from all the convenient amenities on offer in the city centre, as well as being close to public transport links taking you across the region.
Being offered to the market in the enviable position of having no onward chain, this means the property is ready to move straight into.
The property also comes with designated parking.
ADVERTISEMENT
Anita Street / Credit: Goodwin Fish
The property is currently on the market with Manchester-based independent estate agents, Goodwin Fish, for £310,000 (Offers Over).
Occupying a commanding position on an attractive residential road in the Swinley area of Wigan, which is close to a wide range of amenities, good local schooling options, and transport links across Greater Manchester, is this stunning five-bedroom Victorian semi-detached family home that estate agents say is “brimming with character and charm” throughout.
Having been mostly restored by the current owners, this property is now ideally-suited to someone looking for a truly impressive home that they are still able to put their own stamp on.
The property backs directly on to Whitley Reservoir from the rear garden, and also comes with ample off-road driveway parking.
Spencer Road / Credit: Morgan H Lewis
The property is currently on the market with Wigan-based independent estate agents, Morgan H Lewis, for £485,950 (Offers in the Region of).
If you’re looking for an immaculately-presented apartment within a beautiful historic building, then this property could be just what you’re looking for.
Situated in the Grade II-listed Stableford Hall in the heart of Monton – a highly sought-after location renowned for its charm and vibrant community, as well as being conveniently close to Salford’s many amenities, local schooling options, and transport links – is this three-bedroom apartment that estate agents describe as being “expertly crafted”.
The property has been tastefully-modernised, while still retaining original features like beams and vaulted ceilings, and it comes with securely-gated parking for residents.
Stableford Hall / Credit: Thornley Groves
The property is currently on the market with the Monton branch of independent estate agents, Thornley Groves, for £375,000.
Said to be “steeped in historical significance”, and therefore a rare addition to the Greater Manchester housing market, is this magnificent three-bedroom semi-detached family home located just a short stroll from the vibrant Heaton Moor village, as well as all the amenities, good local schools, and convenient transport links that make it such a highly-regarded area to live.
ADVERTISEMENT
Estate agents say this home represents a truly “once-in-a-lifetime opportunity” for prospective buyers, as it’s full of beautiful period features, and extensive renovations, as well as its enviable location.
The property boasts a vast front courtyard with ample off-road parking to the front, and a breathtaking garden to the rear.
Didsbury Road / Credit: Philip James Kennedy
The property is currently on the market with the Heaton Moor branch of independent estate agents, Philip James Kennedy, for £1.1 million.
Situated on a highly sought-after development in Bury, but described by estate agents as “standing apart from others in the area” due to its modern external look, is this absolutely stunning three-bedroom detached bungalow that has undergone a major remodelling and refurbishment by the current owners a couple of years back.
No expense has been spared with the renovations, with some of the key updates to the property including a new roof, rewiring, re-plastering, a new kitchen with integrated appliances, a fitted ensuite, and new flooring throughout.
ADVERTISEMENT
Externally, the property has an integrated garage and off-road driveway parking for several vehicles.
Newington Drive / Credit: Miller Metcalfe
The property is currently on the market with the Bury branch of local estate agency chain, Miller Metcalfe, for £425,000.
Occupying an enviable position in the sought-after Tameside village of Mottram, which is known and loved for its rural feel while still being conveniently-close to all the local amenities, good schools, and transport links needed for daily life, is this attractive stone-built family home boasting five spacious bedrooms and lots of flexible living spaces.
Estate agents say the property is “deceptively spacious” and offers growing families, or those who value open-plan living, a unique blend of modern living and period charm.
Externally, the property offers an inviting extension of the home, and is perfect for relaxation and entertaining.
ADVERTISEMENT
Church Brow / Credit: EweMove
The property is currently on the market with the North West branch of estate agency chain, EweMove, for £495,000 (Offers in Excess of).
Occupying a prime position in the heart of Diggle, which is one of Oldham’s most sought-after villages, and backing onto picturesque hills with far-reaching panoramic views, is this three-bedroom detached family home that that has been tastefully-modernised throughout and is now being offered to the market in immaculate condition.
A true credit to the current owners, some of the stunning property’s stand-out features include a modern open-plan kitchen and dining space, which opens to the sitting room/snug, and four double bedrooms, two with en-suites.
There is a double driveway for off-road parking to the front of the property, and large landscaped gardens to the rear.
Littlemoor Lane / Credit: Kirkham Property
The property is currently on the market with the Uppermill branch of independent estate agents, Kirkham Property, for £600,000.
Arguably one of the most impressive properties currently on the market within one of Greater Manchester’s most sought-after residential villages is this immaculate seven-bedroom detached family home nestled in a secluded and exclusive cul-de-sac in Hale Barns, offering prospective buyers both privacy and elegance in equal measure.
Presented across three expansive floors, the property features four reception rooms, a fully equipped open-plan kitchen ideal for modern living, seven spacious double bedrooms, and five luxurious bath/shower rooms.
The home is accessed through a gated entrance which leads to a large gravel driveway, attached garage, and beautifully-landscaped gardens that surround the side and rear of the property.
Elmsway / Credit: Jackson-Stops
The property is currently on the market with Hale branch of independent estate agents, Jackson Stops, for a Guide Price of £2.75 million.
This two-bedroom detached true bungalow is located within the desirable Rochdale district of Thornham – which is ideally placed for amenities, good local schools, and access to public transport links – and offers prospective buyers a unique opportunity to live on one of the area’s most sought-after residential roads.
The property has been completely modernised by the current owners over the last year, and estate agents says “no expense has been spared” with the renovations undertaken.
As well as the light and spacious accommodations on offer inside the property, externally, this home sits on a good-sized plot with a garden to the front, and a paved driveway that leads to the attached garage.
Ferndale Avenue / Credit: Ryder & Dutton
The property is currently on the market with the Royton branch of local estate agents, Ryder & Dutton, for £475,000.
Emily Sergeant -
28th August 2020 
