Manchester Housing Growth

The latest research from Benham and Reeves has compared housing market performance under London’s Mayor, Sadiq Khan, and former Greater Manchester Mayor, Andy Burnham, who has now become Prime Minister, revealing two very different but equally significant housing stories.

While London’s housing market has continued to demonstrate resilience throughout Sadiq Khan’s decade as Mayor, Greater Manchester enjoyed substantially stronger house price growth and higher levels of housing market activity during Andy Burnham’s time leading the city region. With Burnham now taking office as Prime Minister, his track record in Manchester provides an early indication of the importance he places on economic growth, regeneration and housing delivery.

The research by Benham and Reeves analysed average house price movements, residential sales volumes and new housing completions across Greater London and Greater Manchester during each Mayor’s respective time in office*. House price data was sourced to April 2026, sales market data to February 2026, while housing completion figures cover the period through 2025-26. Comparisons were made using each Mayor’s tenure and population-adjusted metrics where appropriate.

Since Sadiq Khan became Mayor in May 2016, the average house price across Greater London has increased from £500,467 to £544,814, representing growth of 8.9%.

Over a comparable period, Andy Burnham oversaw considerably stronger house price growth in Greater Manchester. Since taking office in May 2017, average values have climbed from £145,058 to £238,730, an increase of 66.6%, reflecting the region’s strong economic expansion and growing appeal to buyers and investors during his tenure.

The comparison also highlights differences in housing market activity. Across Sadiq Khan’s time in office, Greater London recorded an average of 0.8 residential sales per month for every 1,000 residents. Greater Manchester recorded a higher rate of 1.1 sales per 1,000 residents during Andy Burnham’s tenure, indicating a more active transaction market relative to population size.

Housing delivery tells a more balanced story. Since Andy Burnham entered office, Greater Manchester has averaged an estimated 2.4 new dwelling completions per 1,000 residents each year, narrowly ahead of Greater London’s average of 2.2 over the same broad period. While London’s larger and more mature housing market continues to face significant land, planning and affordability constraints, the figures illustrate Greater Manchester’s ability to maintain a steady pace of development as the city region experienced sustained economic growth.

Marc von Grundherr, Director of Benham and Reeves, commented:

“London remains the UK’s most important housing market and, despite a decade of Brexit, the pandemic, rising interest rates and wider economic uncertainty, it has continued to provide long-term stability for homeowners and investors.

However, it is impossible to ignore the momentum achieved across Greater Manchester under Andy Burnham. His record suggests he understands that housing delivery, regeneration and economic growth must work together, and applying that approach nationally could provide a welcome boost to development and investment.

Stamp duty must also be addressed. It is an outdated and fundamentally unfair tax that penalises people simply for moving home, while placing the greatest financial burden on buyers in higher-value markets such as London.

A meaningful reduction would remove one of the biggest barriers facing buyers, release pent-up demand and stimulate activity throughout the entire housing chain. Few measures could provide such an immediate and significant boost to the UK property market.”

Data tables and sources