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.
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.
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.
“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
Authorities prepare to ‘turn the tide’ on Greater Manchester’s housing crisis
Emily Sergeant
Greater Manchester is preparing to ‘turn the tide’ on its housing crisis by building new homes and protecting renters.
Greater Manchester Combined Authority (GMCA) has set out its comprehensive plan to connect communities to new jobs and opportunities, drive up standards across the rental sector, and build new homes – with the latter helping to fulfil its Housing First ambition give everyone access to a ‘safe, secure, and affordable’ home by 2038.
This week has already seen a ‘renewed focus’ on driving up housing standards thanks to the naming of the first supporters of Greater Manchester’s bold new Good Landlord Charter.
New analysis also shows that GMCA’s Brownfield Housing Fund, which was set up in 2020, has already provided grants to deliver more than 15,000 homes, with an average of just over 45% being affordable housing.
But, there’s still a long way to go.
🏡 Today at #Housing2025, we marked a major milestone: Over 50% of rented homes in Greater Manchester are now covered by the Good Landlord Charter 🎉
— Greater Manchester Combined Authority (@greatermcr) June 26, 2025
GMCA says those recent successes will not stand alone, but rather support plans to deliver more social housing than is lost across the region.
Unlocking brownfield land is what authorities claim is the key to turning the tide on the housing crisis, as since its inception in 2020, as mentioned, Greater Manchester has invested a whopping £135.4 million from the Brownfield Housing Fund to redevelop underused brownfield land, which ultimately delivered thousands of new homes.
It’s anticipated that further funding allocations will come in the summer to supplement those already approved and in the works.
GMCA is also using the power of Mayoral Development Corporations (MDC) – which are statutory bodies set up by the Mayor Andy Burnham, designed to speed up development and attract investment within a specific area – to unlock regeneration opportunities, as these ‘pioneering’ tools bring together local partners and drive forward the authority’s ambitions to build new homes, bring jobs and investment, and support economic growth.
Authorities are preparing to ‘turn the tide’ on Greater Manchester’s housing crisis / Credit: Benjamin Elliott (via Unsplash)
Some of these MDCs currently include Old Trafford (part of the proposed Western Gateway Mayoral Development Zone), the expanded Stockport MDC, and the Northern Gateway MDC (part of Atom Valley).
Together, these three alone are expected to deliver 27,250 homes over the next 15 years to help address the housing crisis.
“If we are serious about securing the long-term success of Greater Manchester, we need to free ourselves from the grip of the housing crisis,” commented Mayor Andy Burnham.
“Because of the decisions we’ve taken, Greater Manchester is now building more affordable homes than at any point since the turn of the millennium. We need to keep building on that momentum until we reach a tipping point where we build more social homes than we lose.
“We’re determined to ensure that every person in Greater Manchester has access to the safe and secure home they need in order to thrive.”
Featured Image – James Feaver (via Unsplash)
Property
Petition launched to rebuild Hotspur Press in its ‘original form’ following devastating fire
Emily Sergeant
A petition has been launched to rebuild the Hotspur Press building in its ‘original form’ following the devastating fire last week.
In case you missed it, one of Manchester’s most historic landmarks has been left a shell of its former self after a huge fire erupted at the now-derelict Hotspur Press, which is on Cambridge Street beside Oxford Road train station, last Monday (23 June), destroying the iconic building that stood standing for more than 200 years.
It was subsequently declared a ‘major incident’ by authorities.
Thick black smoke clouds could be seen for miles over the city centre from around 4:30pm onwards and into the evening, as fire crews worked to extinguish the blaze.
BREAKING 🚨 Huge fire in Manchester city centre right now – historic Hotspur Press is ablaze with major disruption to trains out of Oxford Road #manchester#mcrpic.twitter.com/SnA52oiqxm
At the height of the blaze, two aerial units and more than 100 firefighters were working at the scene in warm and humid conditions.
But for the past couple of years now, before the building went up in flames, Hotspur Press was at the centre of redevelopment controversy, where planning permission was being sought to transform the building into high-rise student accommodation – and it’s these proposals that prompted the petition calling for an authentic rebuild to be set up.
That and the fact that it was announced towards the end of last week that Hotspur Press was to be part-demolished.
A petition has been launched to rebuild Hotspur Press in its ‘original form’ following the devastating fire / Credit: The Manc Group | Jonathan Boswell (Submitted)
Already racking up more than 400 signatures and counting, the petition calls for the historic building to be restored ‘faithfully and fully’.
“The recent fire has robbed Manchester of one of its most iconic and historic buildings, a cornerstone of the city’s skyline and industrial heritage,” the petition reads. “Hotspur Press was not just bricks and mortar, it was a living reminder of the city’s printing legacy, a symbol of Manchester’s character and soul.
“What we don’t need is another anonymous block of luxury flats that serve investors over residents.
“We are tired of seeing our history erased for profit. We demand that what is rebuilt reflects the identity, memory, and voice of the people who actually live here.”
The petition concluded: “Buildings like Hotspur Press carry the stories of the people who built this city – and they deserve more than neglect, fire, or demolition. Let this be the turning point. Rebuild Hotspur Press, and set a precedent for putting people, history, and place before profit.”
If you’re in support, you can find out more and sign the petition here.