Commuter locations around Glasgow and Manchester are recording some of Britain’s strongest asking price growth as buyers seek more affordable homes within reach of large cities, Rightmove analysis suggests.
10 of the 15 fastest-growing commuter hotspots identified by the property platform are near Glasgow or Manchester, while 12 have average asking prices below £250,000.
Falkirk recorded the largest annual increase, with asking prices rising by 13.5% to an average of £183,596. It was followed by Rochdale, where prices increased by 8.7% to £238,115.
Broxbourne was the only London commuter location among the five fastest-growing markets. Its average asking price rose by 8.1% to £654,263.
Other strongly performing areas included St Helens, up 7.8% to £192,570, Port Talbot, up 7.7% to £176,787, and Wishaw, where the average increased by 7% to £140,127.
Wigan and Stalybridge each recorded growth of 6.2%, while asking prices rose by 5.6% in Greenock and 5.3% in Hamilton. Wolverhampton also registered an annual increase of 5.3%.
CITY MARKETS LAG COMMUTER AREAS
Price growth in the six cities covered by the analysis was generally weaker than in their best-performing commuter markets.
Average asking prices increased by 2.9% in Glasgow to £191,530, by 1.8% in Manchester to £261,212 and by 1.4% in Cardiff to £285,596.
Prices fell by 0.6% in both Birmingham and Bristol, leaving averages of £251,340 and £375,205 respectively. London recorded the largest city decline, with asking prices down by 3.1% to £646,451.
The figures point to a divide between relatively affordable northern markets and more expensive commuter locations in southern England.
Haywards Heath recorded the steepest fall among the commuter areas analysed, declining by 4.8% to £461,066. Maidenhead was down by 3.9% to £571,686, while Bath fell by 3.8% to £508,109.
Further declines were recorded in Leamington Spa, down 3.3%, Reading, down 2.9%, and Billericay, down 2.8%.
Colleen Babcock, Rightmove’s property specialist, said: “Our data highlights two very different stories playing out across some of Britain’s commuter markets. In the more affordable locations around Glasgow and Manchester, asking prices are rising strongly as buyers look for value within reach of major cities.
“Meanwhile, some of the more expensive commuter hotspots are seeing prices ease, which could create opportunities for buyers who may previously have been priced out.
“For anyone considering a move, it’s a reminder that looking a little further beyond the main city locations can often open up more options and better value for money.”
Ian Harris, NAEA Propertymark president, said: “Since the pandemic, we’ve seen an initial reformatting of what many people want and need from the location they choose to live in.
“Initially, we saw many people embrace the concept of working from home and enjoying a lifestyle away from the traditional city commute.
“However, this is now a trend that is starting to swing back, with many people looking for a hybrid location that offers easy commuter access to key cities, while also providing a desirable mix of out-of-city amenities.
“As house prices continue to adapt to changing market conditions and consumer expectations, it is encouraging to see proposals being shared on how public transport can play an important role in the planning of housing developments and how this may offer new options for people when considering where to live.”
