House prices in Salford have soared as estate agents ‘scrambled’ for stock.
Homeowners saw prices rise by almost double the national average - rising by 13.1 per cent in 2016.
According to figures released by the Land Registry, the average house prices in the UK increased by 7.2 pc, to £220,000.
In Salford however, prices shot up from £127,918 to £144,614 - an increase on £16,696.
But according to local experts, it’s all a question of supply and demand, with agents struggling to find enough properties to sell.
Marian Waldron, director of Murphy Waldron Estates, in Salford, said: “I think that part of it is the lack of stock over the last year. Agents are scrambling for stock which is driving the price up.
“This year we just can’t get enough stock.
“Having said that it’s still cheaper than other parts of Greater Manchester and with Media City, the Quays and the tram, it ticks that wish list for people looking to commute.
“We are where we were ten years ago. We are back to those kinds of price and I don’t know how long that is going to last for.”
Manchester also finished the year on a high with house prices growing by £11,536 to £156,632.
Estate agents in the borough also pointed to a lack of stock causing house prices to rise.
The lack of supply is not stopping demand however, meaning rising prices will only continue.
Ged McPartlin, from Ascend properties, based in Manchester, said: “There are a few reasons why prices in Manchester are rising at such an accelerated rate; the main one being a chronic shortage of stock. Whilst this isn’t just reflective of the Manchester market, it’s certainly felt quite widely here.
“We can launch an ‘open-house day’, register between 20-30 prospective purchasers and often walk away with offers well over asking price.
“The market is incredibly competitive and demand for property throughout Manchester shows no signs of dampening.”
Surprisingly Trafford , which regularly comes out on top with the most expensive homes, was just behind.
The traditionally affluent borough saw property prices increase by just over 11 pc to £261,316.
The news definitely won’t be well received in Rochdale however, where prices saw the smallest increase in the region - just 5 pc.
House prices in the borough inflated by just £5,835 to £121,490 in the last 12 months.
If you are looking for real growth, you will have to pack you bags and head up north - really far north - to the Shetland Islands.
House prices in the rugged surroundings rose by over 25 pc last year.