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.
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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.
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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.
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“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
10 hot properties for sale in Greater Manchester | April 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.
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Landsdowne Road
Monton, Eccles, Salford, Greater Manchester, M30
Sell Well
Landsdowne Road / Credit: Sell Well
Terraced | x2 Bedrooms | x1 Bathroom
Situated just a stone’s throw from Monton, and merely a short walk away from all the enviable amenities on offer in the highly-sought-after neighbourhood, as well as good local schools, transport links across Greater Manchester and beyond, and the picturesque Bridgewater canal and Worsley village, is this attractive two-bedroom terrace offering plenty of flexible living space.
Having been fully renovated and finished to the highest of standards throughout by the current owners, the home provides an excellent opportunity for families, down-sizers, and First Time Buyers keen to get on the property ladder alike.
Estate agents say viewing is “highly recommended” to fully appreciate all the space on offer.
Landsdowne Road / Credit: Sell Well
The property is currently on the market with the Worsley-based independent estate agents Sell Well for £285,000 (Offers Over).
West Didsbury, Manchester, Greater Manchester, M20
Bridgfords
Old Landsdowne Road / Credit: Bridgfords
Apartment | x2 Bedrooms | x1 Bathroom
Offered to the market in impeccable condition, with easy access to a wide range of convenient amenities, local primary and secondary schooling options, and transport links into Manchester city centre and across the region, is this two-bedroom period duplex apartment in West Didsbury that’s been lovingly-maintained and improved by the current owners to an exceptional standard throughout.
Estate agents say it’s “arguably one of the most attractive duplex apartments” currently on the market in the area at the moment.
Internally, this stunning home occupies the ground and lower ground floor of a beautiful mansion conversion, with all living spaces having been renovated and modernised, while externally, there are attractive communal gardens and residents’ parking.
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Old Landsdowne Road / Credit: Bridgfords
The property is currently on the market with the Didsbury branch of estate agency chain Bridgfords for £330,000.
This stunning two-bedroom terraced cottage in the highly-sought-after Tameside village of Millbrook is perfect for young families, First Time Buyers, and down-sizers alike, all thanks to its semi-rural location and the fact it’s just a short distance from convenient amenities, good local schools, public transport links, and plenty of walks and open countryside.
Expertly combining character and charm with everything needed for modern-day living, the cottage has spacious accommodations throughout with an abundance of period features still retained.
Externally, the property is tucked away in a quiet location with lovely views to the front, and it also benefits from off-road parking too.
Croft Bank / Credit: Ryder & Dutton
The property is currently on the market with the Ashton-under-Lyne branch of local estate agency chain Ryder & Dutton for £175,000.
Fancy your own piece of lock-up-and-leave luxury living? Or just an immaculately-presented apartment close to a wide range of amenities, excellent local schools, and transport links across Greater Manchester that’s ready to move straight in to?
You’ll need look no further than Merryfield Grange then.
Situated in one of Bolton’s most sought-after residential areas, this two-bedroom apartment is located on the first floor of a modern building, and boasts stylish and contemporary open-plan living spaces throughout – which estate agents say have been “thoughtfully-designed to create an ambiance of comfort and elegance”.
Externally, the property benefits from a private balcony, secure gated parking facilities, and well-maintained communal garden areas.
Firwood Park, Chadderton, Oldham, Greater Manchester, OL9
Ryder & Dutton
Poppy Close / Credit: Ryder & Dutton
Semi-Detached | x3 Bedrooms | x1 Bathroom
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Offered to the market with no onward chain, occupying a prime position on the popular Firwood Park estate in Chadderton, and benefitting from being within easy-reaching-distance from local amenities, schools, and transport links, is this three-bedroom semi-detached home that’s been extended and renovated to a high standard throughout.
Ideal for young professionals and growing families, the property boasts bright and spacious living spaces, with the modern fitted kitchen, open-plan living and dining area, and three good-sized bedrooms being the stand-out features.
Externally, there is a landscaped garden with a patio area and artificial lawn to the rear of the house, and off-road driveway parking for three cars to the front.
Poppy Close / Credit: Ryder & Dutton
The property is currently on the market with the Oldham branch of local independent estate agents Ryder & Dutton for £275,000.
Occupying an enviable position and situated in one of Stockport’s most highly-regarded residential areas, with both easy-access to local amenities, schools, and convenient transport links, as well as nearby greenspaces and open countryside, is this magnificent four-bedroom semi-detached period property.
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Described as “oozing character and charm” throughout, and promised to “impress” any viewers who walk through its door, the family home has been extended to offer three good-sized reception rooms and four double bedrooms, as well as having plenty of period features retained too.
Externally, the property boast an easy-to-manage garden to the rear, and a garage with off-road parking for multiple vehicles to the front.
Viewing is definitely recommended for this one.
Townscliffe Lane / Credit: Gascoigne Halman
The property is currently on the market with the Marple Bridge branch of local estate agency chain Gascoigne Halman for £699,950.
Affetside is undoubtedly one of Bury’s most picturesque and sought-after villages, thanks to its semi-rural location and stunning surrounding countryside views everywhere you look, and it’s not very often that properties as attractive as this one come onto the market either, so this three-bedroom terraced cottage probably won’t stick around for long.
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The stunning stone farm building conversion is absolutely packed with character, charm, and period features throughout its spacious accommodations, yet it’s still got everything needed for modern-day life too.
A double driveway for several vehicles can be found at the front of the property, while there’s a beautifully-presented garden with a patio and panoramic views to the rear.
Watling Street / Credit: Miller Metcalfe
The property is currently on the market with the Bury branch of local estate agency chain Miller Metcalfe for £550,000.
Blackstone Edge Old Road, Littleborough, Rochdale, Greater Manchester, OL15
Prestige & Country Homes
Windy Ridge / Credit: Prestige & Country Homes
Detached | x4 Bedrooms | x4 Bathrooms
Now, how impressive is property? To be honest, ‘impressive’ doesn’t really do it justice.
Situated in the ever-popular Rochdale town of Littleborough, which continues to become more sought-after than ever before, offered to the market in immaculate condition, and described as being “simply stunning”, is three four-bedroom bespoke detached family home that’s like nothing else on offer in the area at the moment.
Not only does the property benefit from spacious and well-proportioned living accommodation in abundance, but it also boasts two wrap-around balconies which look out across panoramic views of picturesque open countryside.
Estate agents say the “crown jewel” of the property are the beautiful manicured gardens to the front and rear, and they also add that it needs to be viewed to be fully appreciated.
Windy Ridge / Credit: Prestige & Country Homes
The property is currently on the market with the estate agency label covering Manchester, Prestige & Country Homes, for £975,000.
Red Rock Lane, Haigh, Wigan, Greater Manchester, WN2
Regan & Hallworth
Winstanley House / Credit: Regan & Hallworth
Detached | x5 Bedrooms | x3 Bathrooms
This has got to be one of the most unique properties currently on the market in Greater Manchester at the moment, right?
Occupying a rural location just outside of Haigh in Wigan – which, in case you hadn’t heard, is now officially one of Britain’s “poshest” villages, according to The Telegraph – and benefitting from open countryside and countless walks on the doorstep, as well as still be close to a thriving community, good schools, and transport links across Greater Manchester, is this five-bedroom detached family home that’s presented to the highest of standards throughout.
Flexible open-plan reception rooms, an “elegant” orangery leading off from a stunning kitchen / diner, and five double bedrooms, are just some of the accommodation highlights, alongside vaulted ceilings, exposed beams, roaring fireplaces, and more.
Stepping outside the property, you’ll find over six acres of formal gardens and land surrounding the home, as well as garages and off-road driveway parking for multiple vehicles.
Winstanley House / Credit: Regan & Hallworth
The property is currently on the market with the Wigan branch of local estate agency Regan & Hallworth for £1.4 million (Offers in Excess of).
Courtney Place, Bowdon, Altrincham, Trafford, Greater Manchester, WA14
Watersons
Lisheen / Credit: Watersons
Detached | x5 Bedrooms | x3 Bathrooms
Again, this is another one of Greater Manchester’s most impressive properties currently for sale.
Occupying an enviable plot on a quiet no-through road, and being described as a unique opportunity to own “a house of substance” that combines both space and privacy, with a “serene” backdrop to open farmland, is this undeniably stunning five-bedroom semi-detached bespoke family home in the highly-regarded Altrincham village of Bowdon.
As well as being within an easy-reach of countless local amenities, excellent schooling options, and convenient transport links across Greater Manchester and beyond, this property has been lovingly-maintained by the current owners and presented to a high standard throughout.
Not only are the spacious living accommodations an attractive factor of the home, but externally, it also boasts a sizeable driveway, two garages, a large garden to the rear, and stunning open countryside views.
Lisheen / Credit: Watersons
The property is currently on the market with the Hale branch of independent estate agents Watersons for £1,525,000.
Featured Image – Prestige & Country Homes | Bridgfords | Ryder & Dutton
Property
Work begins on dozens of new ‘affordable’ homes in Salford as part of £2.5bn regeneration
Emily Sergeant
Work is now underway on dozens of new ‘affordable’ homes in Salford as part of multi-billion pound regeneration scheme.
The exciting new development called Willohaus – which was granted planning permission by Salford City Council last summer – forms part of the wider £2.5 billion Crescent Salford regeneration, and is a partnership between Salford City Council, the University of Salford, and ECF (formerly The English Cities Fund).
100 “high-quality, sustainable, and affordable” one and two-bedroomed homes are set to be built on a disused carpark on Peru Street in the heart of Salford as part of the scheme.
The apartments have been designed to provide a “comfortable environment” for residents, as Passivhaus buildings can apparently reduce energy bills by up to 90%, when compared to traditional housing stock.
This essentially means residents can reduce their fuel bills, all while cutting carbon footprints too.
Work has begun on dozens of new ‘affordable’ homes in Salford / Credit: ECF North West
The Willohaus site is situated in the historic civic district of Salford, which has been undergoing extensive regeneration in recent years.
It was once a key industrial area for the city, and back in the 1800s, the site was home to a public bath house.
The construction of Willohaus follows the similar development of Passivhaus-standard homes, Greenhaus, situated nearby – which completed last month, and is made up of 96 affordable new homes in total.
Joe Stockton, who is the Senior Development Manager for ECF, said Willohaus will be an “upscale” on Greenhaus.
The Willohaus site is situated in the historic civic district of Salford / Credit: ECF North West
He explained: “Following our success delivering low-energy, Passivhaus-standard homes at nearby Greenhaus, we are now looking to upscale what has previously been done on a relatively small-scale, and make sustainable homes accessible and affordable for a wider range of customers.
“We’re looking forward to working with our partners to create a vibrant and well-connected neighbourhood at Crescent Salford, starting with our Willohaus community.”
Willohaus will also be the first Passivhaus-certified development to benefit from funding through the new ‘trailblazer’ devolution protocols, which have seen Greater Manchester Combined Authority (GMCA) given greater powers and funding to enable more “truly affordable net-zero homes” via the UK Government’s Affordable Homes Programme.
Tom Stannard, who is the CEO of Salford City Council, added: “It is such great news to see works starting on another eco-friendly development in our city.
Emily Sergeant -
28th August 2020 
