The Greater Manchester postcodes where house prices have fallen the most

The property market is showing signs of cooling down across the UK - which is good news for house hunters and first-time buyers hoping to get a foot on the ladder. Nationwide's latest house price index revealed that house prices are on the decline across the country, with the average cost of a home dropping by 5.3 percent over the last 12 months.

According to Nationwide, all regions across the country recorded annual house price falls in the last quarter, with the standard price of a home now £257,808 after £14,500 has been knocked off the average price tag. House hunters who are looking to buy their first or next home in Greater Manchester are in luck, as there are several parts of the region where property prices dropped a considerable amount.

Whilst looking at the latest average house prices in every postcode area across Greater Manchester, which was compiled using data from the Land Registry, we found six postcodes where prices have become cheaper, which may make buying a home in these areas much more affordable.

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Here are the areas where house prices are falling, and how much they have been reduced by:

M15, which covers Hulme, has seen the biggest drop in house prices throughout Greater Manchester over the last year. The residential inner city area, which is popular with students, young professionals and families, had an average house price of £318,880 in 2022, but over the last year this has fallen by a huge £62,000.

Those looking to purchase a property in the M15 postcode can now expect to pay around £256,840 for the average home, which is a reduction of around