Revealed: Commuter towns with strongest asking price growth

The strongest growth in asking prices is in commuter towns around Glasgow and Manchester, according to Rightmove.

Data from the property portal reveals that ten of the 15 fastest-growing hotspots are located around the two cities.

However, asking prices in London have fallen year-on-year.

Asking prices are rising strongly

According to the data, 11 of the top 15 fastest-growing locations have average asking prices below £250,000.

Average asking prices have risen by 2.9% year-on-year in Glasgow to £191,530, 1.8% in Manchester to £261,212 and 1.4% in Cardiff to £285,596.

Falkirk, Stirlingshire, recorded the strongest price growth among all the commuter locations analysed, with asking prices up 13.5% year-on-year to an average of £183,596.

However, prices have fallen by 0.6% in Birmingham to £251,340, 0.6% in Bristol to £375,205 and 3.1% in London to £646,451.

Haywards Heath in Sussex recorded the largest annual decline in asking prices, down 4.8% to £461,066. It was followed by Maidenhead, where prices fell 3.9% to £571,686, and Bath, where they dropped 3.8% to £508,109.

Colleen Babcock, Rightmove’s property expert says: “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.”

Industry reaction

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.”