Two residential areas in Greater Manchester have been highlighted as UK ‘property hotspots’ based off house price data from 2022.
And they’re probably not the places you’d expect either.
There’s no doubt the property market in our region has been booming over the last decade or so, with average house prices seeming to rise year-on-year, and more and more areas becoming sought-after as the places to live time goes on – but now, Rightmove has released its list of the top UK property hotspots for this year based off 2022 data, and two rather surprising Greater Manchester areas have made their way onto it.
To create its list of hotspots, the UK’s biggest property website compared average house prices across the UK between 2022 and 2021 to out find the areas where prices they have risen the most, and the areas where prices are increasing more than the national average indicate that the area is a ‘hotspot’.
As well as soaring prices, Rightmove also considers a ‘property hotspot’ to be a place where there is a high demand for homes too.
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Manchester‘s inner city area of Hulme has claimed second place on the list.
Rightmove has released a list of the top UK property hotspots for this year based off 2022 data / Credit: Wikimedia Commons
Hulme is an ever-changing residential area that’s been the subject of redevelopment projects several times over the years, and has always been a favourite with students and young professionals thanks to it being home to Manchester Metropolitan University‘s (MMU) Birley campus, but Rightmove’s latest data shows it could be set to surge in popularity with a much wider audience this year.
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According to the data, the average price of a home in Hulme jumped up by 26% from £188,454 in 2021 to £238,249 in 2022.
Elsewhere on the list, the Bolton residential area of Little Lever has been named another one of the UK’s property hotspots, claiming eighth place after average house prices soared by 20% from £169,709 in 2021 to £202,890 in 2022.
Grabbing first place as the UK’s top property hotspot was Eastwood in Nottinghamshire, according to Rightmove, with average asking prices in the area jumping by 29% compared with 2021.
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Other property hotspots named in Rightmoves top 10 list based off last year’s data include Sandbanks in Dorset, Heathfield in East Sussex, Chelston in Devon, St. Peters in Kent, Cowes on the Isle Of Wight, Birchington in Kent, and Deeping St. James in Cambridgeshire.
Property prices in each of those areas had soared by more than 19% since 2021.
Two rather surprising Greater Manchester areas have made their way onto the list / Credit: Roger Kidd (via Geograph)
While the South East has the most areas featured in the top 10 property hotspots, the North East, however, saw the biggest regional annual growth of 10.3% in 2022, and as a whole, house prices across the UK were higher in 2022 than the year before.
Rightmove says average house prices were 5.6% higher across the UK at the end of 2022 than they were at the same time in 2021.
“Property prices have risen exceptionally over the last three years,” admitted Tim Bannister, property expert at Rightmove.
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“If we compare with December 2019, just before the pandemic started, the average asking price of a home in Great Britain has risen by a staggering 20%, so to put that into context, asking prices rose just 3% in the previous three years, and we need to go all the way back to 2013 to see similar price growth.
House prices were 5.6% higher across the UK at the end of 2022 than they were in 2021 / Credit: Julie Twist Properties (via Rightmove)
“We expect average asking prices to drop by 2% next year now that the frenetic period for the market is over.
“It is likely that some sellers, particularly those in locations and sectors of the market that have benefitted the most from pandemic price growth, may be willing to give up some of their gains in this calmer market in order to negotiate a successful sale.”
New images give sneak peak at £210m redevelopment plans for ‘eyesore’ Manchester hotel
Emily Sergeant
New images giving a sneak peak at impressive £210 million plans to redevelop a Manchester city centre hotel once branded an “eyesore” have been released.
The former Renaissance Hotel is undoubtedly one of the most divisive buildings on Deansgate, was notably once labelled an “eyesore”, and had been facing demolition since 2018 – but plans were eventually unveiled to redevelop it into a part-office, part-hotel, and part-residential complex a few years back.
The brutalist structure is set for a whopping £210 million makeover, which is being overseen by Property Alliance Group and Starwood Capital.
Developers have now released a handful of new images showing what the new offices will look like.
New images give sneak peak at £210m redevelopment plans for ‘eyesore’ Manchester hotel / Credit: Property Alliance Group
According to redevelopment plans, the offices within the building will be spread over four floors and be around 36,000 sq ft in size.
With work expected to begin on the building by the end of next month, plans also show that there will be a communal roof terrace, a wellbeing studio, bike store, and showers with changing rooms, as well as flexible office space.
Speaking on the redevelopment plans, Alex Russell – CEO at Property Alliance Group – said the project is as “important” to the company as it is to the city of Manchester.
“It demands best-in-class for design and amenities to maximise its riverside location [and] we cannot wait to relaunch this vibrant and engaging destination for the city’s residents and visitors.”
Will Lewis, who is the founder of OBI, which is the company that’s been tasked with “bringing the commercial space to market” added that he wants to see both large and small companies rent office space within the building once redevelopment is complete.
“New build office development of this nature is unique, as it enables both large corporates seeking a self-contained HQ and SMEs to take space on a floor-by-floor basis,” he explained.
“The building will boast an array of high-quality amenities including a vibrant ground floor coffee offering, wellbeing space and a stunning roof terrace and pavilion.”
Featured Image – Property Alliance Group
Property
Huge 55-storey ‘tombstone’ Oxford Road skyscraper to go ahead despite objections
Emily Sergeant
Plans to build a massive skyscraper dubbed the ‘tombstone’ in Manchester city centre are to go ahead despite objections.
The imposing 55-storey tower containing 850 student flats, which is on top of a car park off Oxford Road in the heart of the city centre, was approved all the way back in July 2021, and was soon dubbed the ‘tombstone’ by local residents who opposed the project and lodged an appeal to the Hight Court.
More than 750 letters of objection were said to have been received by planners, the MEN reports.
Local residents from the neighbouring Macintosh Village opposed the plans for the new skyscraper based on environmental grounds, and raised issues on possible exposure to contaminated construction dust, as well as querying how often a crane would go over a car park and how this would potentially prevent access to their parking spaces.
Complaints about GMS Parking Limited’s proposal for the skyscraper ranged from issues to do with its height and design, to the overall impact.
Huge 55-storey ‘tombstone’ Oxford Road skyscraper to go ahead despite objections / Credit: Glenn Howell Architects
Residents said they believed the skyscraper could impact on their mortgages and their health.
The lawsuit brought to the High Court by Mackintosh Village Management Ltd, which represents nearly 500 tenants in the development, cited six grounds which the group believed showed Manchester City Council had acted unlawfully – which included allegations that local authority officials had “seriously misled” the planning committee.
Residents believe they were misled by the planning committee advising them on parking restrictions during the demolition and construction phases – particularly during the erection or dismantling of tower cranes.
More than 750 letters of objection were said to have been received / Credit: Glenn Howell Architects
But Mr Justice Fordham at the Hight Court said this week that there was not enough evidence to overturn the approval decision, and therefore ruled against the Macintosh Village residents, as well as rejecting an application by the management company for permission to amend the pleas.
Emily Sergeant -
6th January 2023 
