The six postcodes in and around Greater Manchester where house prices have dropped the most

Six areas in and around Greater Manchester have seen house prices drop drastically over the last year. Whilst property prices in the UK have increased by 2.1 percent annually, according to the Nationwide, there are some parts of our region that defy the upwards trend.

Our exclusive analysis of the latest Land Registry data in each of the region's 10 boroughs has now revealed Greater Manchester's property 'cold spots', where the average cost of a home is becoming much cheaper - which is likely down to a decline in demand.

Here are the six postcodes where house prices have fallen most in the last year, with one area seeing a decline of as much as 18 percent, which makes buying a home in these areas much more affordable.

READ MORE: The latest house price in every Greater Manchester area - from cheapest to most expensive

M15, which covers Hulme, has seen the biggest fall in house prices of all Greater Manchester postcodes over the last year. Homes in the inner city area are now selling for around £257,921, compared to £315,119 last year.

This is an annual drop of 18.2 percent, making the average house price now £57,197 less than the year prior.

In M13, which covers Ardwick, Longsight and Chorlton-on-Medlock, house prices have dropped by 15.4 percent, equating to around £39,919.

The average house price last year was £259,901, but this has now fallen down to £219,982.

In this postcode, just outside Greater Manchester, covering areas such as Warburton and Lymm, the average property cost is now £378,894 compared to £436,959 last year. This is a fall of 13.3 percent which is a drop of around £58,064.

SK15, which covers Stalybridge, Carrbrook, Heyrod, Matley and Millbrook, is another postcode area where house prices have