M38 area guide

Postcode district: M38

Location

The M38 postcode district lies within or includes part of the following towns, counties, localities, electoral wards and stations: Little Hulton, Manchester, Swinton North, Walkden North, Walkden South.

History

Present

Amenities

Notes:A Mouseprice property guide for M38 Little Hulton is coming soon. In the meantime, please have a look at the raw data and statistics about M38 that can be found by click the relevant links on the left hand side. Old area guide:The commentary below was written for the mouseprice.com website in 2006, please be aware that the comments below might be out of date. We recommend disregarding these comments in favour of the data that can be found either above or in the other sections of this website.Market trends:The size of the property market in M38 is 6456 homes. When compared against a national average compound annual growth rate (CAGR) over the last 5 years of 12.5%, the growth in this postcode district has been 10.9%. This could well be because this is an area which has invested in improving housing stock, transport links or other local infrastructure. It may also suggest proximity to an area of economic growth such as one of the financial clusters (London, Leeds, Bristol etc.) or strong local presence in growth industries (for example investment in university facilities, attractiveness of an area to IT companies or other knowledge- based organisations).Over the last 3 months, the average property value for this postcode district has been £75725. Since most banks lend money to buy property using their customers’ salary as a indicator of affordability, the price earnings ratio is a useful guide as to whether property in an area is expensive or not. Price Earnings Ratio in this postcode district is 6. Given the low level of earnings in areas such as this, property prices face a ceiling unless outside impetus can be found for increases. Areas which typically have low earnings and low prices tend to be geographically isolated or suffer from outmoded transport infrastructure. They may also be situated in areas of economic difficulty which have not yet been the recipients of redevelopment or regeneration funding. For those moving into an area like this, they may find that they are able to afford to buy a substantially bigger property than their previous home if they are able to secure employment outside the area. Moving out of areas like this can be difficult without an offer of employment in a new location. This is because price growth lags in areas of economic deprivation, so owners there are not able to use their existing property as leverage to match their standard of living elsewhere. New transactions as a percentage of overall sales are 11.6%.Housing stock:Terraced Houses make up the most significant portion of the housing stock, representing 44.4% of the total. Detached Houses account for the lowest percentage of the housing stock in this district, at only 3.7%.The property in this area caters well for retirees and young couples who do not have large families.A high proportion of property in this area is socially rented. A lower than average proportion of property in this area is owner occupied. This suggests that there is a very healthy rental market.The average price of a two bed property in this area is £83940, significantly less then the national average of £187894.Who lives here:Total population in this area is 13355.The average age in this area is 35.Single people make up 33.1% of the population in this postcode district.Average working hours in this area for men are 41 and for women are 31.This area has 33.9 people per square kilometre.This area has high unemployment at 6.4%. Those in work tend to find jobs in the Wholesale & Retail or Construction sectors.



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