Average Altrincham house prices were £430,000. In just 1 year, these figures have risen by nearly £40,000 to an average of £468,955 according to Zoopla. This is over a third higher than the national average of £289,323! Furthermore, Altrincham is now the highest value town in greater Manchester with housing prices almost £200,000 more than the second highest in Cheadle at £279,920.
With residents paying an average of £2,227 per square meter for their houses, this makes Altrincham the most expensive place to live in the UK, outside the south-east of England, exceeding £2,214 in Edinburgh and £2,144 in Leamington Spa.
Broadway, the highest value street in Altrincham, has an average house price of £2,795,681. This is located in the Hale Barns district, one of eight villages in the UK which have entered the millionaires’ club in 2016. With average prices rising from £953,305 in 2010 to £1,096,630, Hale Barns is the only northern entry into this elite band of property areas in the country this year. Altrincham now the ‘golden triangle’ of Wilmslow, Alderley Edge and Prestbury, which also represent the north within this bracket.
These developments match projections by analysts as early as summer 2015 that residential property prices in Altrincham, as well as Trafford at large, were about to undergo a dramatic increase. Savills Estate Agency for example noted a correlation between rising property prices and the presence of ‘golden sector’ businesses, in three sectors – professional, scientific and technical; information and communication; and financial and insurance. The average proportion of such business nationally is around 25%. However, in the Trafford area these constitute around 34%, making up 37% of new businesses opening each year in this region.
This increase in house prices looks set to continue in light of recent A level results. Another characteristic of areas seeing the greatest increases in housing prices besides ‘golden sector’ businesses is the availability of good schools. The release of the 2016 A level results on 18th August revealed that this year’s results were record breaking, with Altrincham Grammar Schools for Girls coming 1st out of 3,109 schools in the UK (Manchester Evening News). This makes the area incredibly attractive to those with or planning families and ensures a high level of continued demand for properties in the area which should see Altrincham’s property market continue to go from strength to strength.