An Affordable Gem: This Town Offers Plenty of Appeal, Despite Rapidly Rising House Prices

Amidst the prevailing cost-of-living crisis and the surge in mortgage rates, one particular borough in Greater Manchester is experiencing an unprecedented spike in demand. Rochdale has emerged as a preferred destination for homebuyers seeking affordability, attracting a sudden influx of buyers over the past year.

 

While house prices have been escalating across Greater Manchester, Rochdale stands out as the epicenter of this surge. In April 2022, the average home in Rochdale was priced at £176,900, but within a year, this figure has surged by nearly 10 percent, reaching £194,500.

 

Despite the rapid increase in house prices, Rochdale remains one of the more budget-friendly places to reside compared to neighboring areas such as Manchester, Stockport, and Trafford, where the average property can demand a hefty £362,500.

 

Local estate agents attribute this newfound allure of Rochdale to investments in the town center, transforming it into a more attractive living destination. Kris Street, the manager of Ryder & Dutton's Rochdale branch, emphasizes the town's evolution: "Prices in Rochdale have historically lagged behind other areas due to a lack of investment in the town. Over the last five to 10 years though, we've finally seen a huge amount of investment, and the town center has been completely revamped, which has made Rochdale a much more desirable place to live."

 

The revitalized town center now boasts a new shopping center, a Hilton hotel, and forthcoming apartment complexes. The town's culinary scene, independent bars, and boutique shops further enhance its appeal. Rochdale's transportation networks, including trains, motorways, and the tram system, provide excellent connectivity to major cities like Manchester and Leeds.

 

Furthermore, Rochdale's robust educational institutions, encompassing reputable high schools and excellent primary schools, make it a favored choice for families.

 

Despite uncertainties in the housing market, buyer activity in Rochdale has remained robust over the past year, with multiple offers driving up property values. The town accommodates various property types, from terraced houses attracting investors to modern suburban developments catering to families. Rochdale also offers a wealth of affordable starter homes and new developments with incentives designed to assist first-time buyers.

 

Castleton, a former mill town just a short train ride from Manchester, has seen a surge in residents who are seeking more affordable living arrangements outside the city.

 

Rochdale's natural beauty, including the stunning moors, Hollingworth Lake, and Healey Dell, adds to its attractiveness as a rural escape. Areas on the outskirts of the borough, such as Littleborough, Milnrow, and Newhey, have gained popularity for their abundance of green spaces and proximity to nature reserves and reservoirs.

 

In addition to these alluring qualities, Rochdale is poised for a substantial economic boost this summer, driven by an influx of tourists. With occupancy levels projected to be 70 percent higher in July and August compared to the same period in 2022, Rochdale is gearing up for a vibrant tourist season, driven by its proximity to Manchester, historical attractions, and upcoming events like the Commonwealth Games and the Rochdale Food and Drink Festival. Sally Henry, VP of Business Development at Key Data, notes the growing appeal of Rochdale as a tourist destination and increased competition for short-term rentals in the town this summer.

 

Whitestone Solicitors

Rochdale

Tel; 0800 810 1010