Manchester’s rocketing property prices have seen the average cost of one square foot of property in the city and nearby areas climb to £246, according to new data from Zoopla. The UK national average currently stands at £282 per square foot.

The data examined property prices across Greater Manchester and reveals that the average cost of property per sq ft ranges from £182 in Oldham to £344 in Trafford. Stockport’s price is £289, while the cost of property per sq ft in Manchester is £230. The price drops slightly in other areas of Greater Manchester, with Salford residents paying £224 per sq ft of property, slightly higher than £206 in Tameside.

While Trafford’s prices are the highest across Manchester, they still have some way to go before they match costs in London, where the figure rises to a whopping £562 per sq ft.
Outside London, in Wales, one square foot of space costs £199, in Scotland the figure is £160 and in the North East, it is just £157. Burnley is the cheapest town in the UK for one square foot of property – coming in at just £123.

Pillow talk
To illustrate the cost per sq ft of property in Greater Manchester, the data also reveals the cost of the space needed to fit a standard double bed.

Residents looking for a new home in Trafford will have to fork out the most for a good night’s sleep, with the cost of the space required for a double bed hitting £10,726.

Bedtime in Stockport and Manchester is marginally cheaper, with the space needed for a double bed costing £9,024 and £7,185 respectively. In other areas of Greater Manchester, the space for a double bed cost £6,988 in Salford, £6,418 in Tameside and £5,678 in Oldham.

Nationally, the most expensive space for a double bed is in London. The floorspace required in a home for a normal-sized double bed would cost £46,550 in Kensington and Chelsea.

Square foot per £5,000
In Trafford, every £5,000 spent on a property will purchase 15 sq ft of floorspace. In Stockport, property hunters get marginally more for their money, with £5,000 buying them 17 sq ft of floorspace. In other areas of Greater Manchester, £5,000 will purchase 22 sq ft of floorspace in Manchester and Salford, 24 sq ft in Tameside and 27 sq ft of floorspace in Oldham.
The figures in Trafford and Stockport are lower than the UK national average, which stands at 18 sq ft per £5,000.
Manchester prices on the rise
The data on sq ft prices comes hot on the heels of the latest Zoopla House Price Index, which revealed in July that the average price of a house in Greater Manchester now stands at £193,900. That’s a rise of 7.7% compared to summer 2020 and a five-year cumulative rise of 32.1%.