Measures of buyer demand and agreed sales figures have weakened across the UK, according to the April 2025 RICS UK Residential Survey (1).
However, the outlook for Cheshire and the North West remains positive, with both house prices and buyer enquiries showing that the region continues to outperform much of the UK property market.
In this article, we’ll take a closer look at the property market across the North West, before further drilling down into our core Cheshire areas of Altrincham, Knutsford, Macclesfield and Wilmslow.
National Buyer Demand
Respondents to the latest RICS Residential Market Survey posted a net balance of -33% in April 2015.
This means that of all Estate Agents questioned, the majority have experienced a decline in buyer enquiries for the month.
Although not a measure of the depth of the decline in buyer demand, more agents are seeing a drop in buyer demand across the market nationally.
This appears to now be a sustained trend, with negative figures of -16% and -32% during February and March, respectively.
The cooling of buyer interest was initially attributed to a combination of usual seasonal buying trends, compounded by a drop-off in activity as buyers had previously rushed to complete their home purchases before the introduction of new Stamp Duty Land Tax (SDLT) rules.
However, with most of the UK seeing weaker buyer demand over an extended period, many are attributing the fall in buyer confidence to concerns over both the wider global and domestic economic picture.
Buyer Demand in the North West
The North of England has gained a reputation as a hub of activity for both the residential and rental markets during Q1 2025.
Reporting from RICS has shown that buyer demand has remained consistently strong across the North West throughout early 2025.
This has been the case despite a slight dip in buyer enquiries in March prior to the introduction of new SDLT regulations.
As of April 2025, RICS respondents have reported an increase in new buyer enquiries, with a three-month average increase in buyer activity.
Property Stock Across the North West
New vendor instructions have also increased across the North West, with some landlords choosing to exit the rental market, adding to the usual influx of stock generated by downsizers and homemovers.
We have certainly observed an increase in stock availability in areas such as Altrincham and Knutsford, suggesting that market activity remains buoyant within our core areas.
While this is excellent news for homebuyers, the caveat for vendors is that they may experience greater competition when trying to find the right buyer for their property.
House Prices Across Cheshire and the North West
RICS respondents reported a net balance of -3% (down from a reading of +2% in March) during April 2025.
The North of England (along with Scotland and Northern Ireland) appear to again be consistently outperforming the rest of the UK, with house prices continuing to increase month-on-month.
During April 2025, respondents for the North West posted a net balance of almost +40% for house prices, with a similar three-month average.
This trend is further corroborated by data from the Office for National Statistics (ONS), which shows that the average house price for the North West in March 2025 was £217,000 - up from £198,000 a year earlier. (2)
House Prices in Cheshire East
Zoning in on the core market for Meller Braggins, it is clear that (for the most part) local house prices are following the same trend as the wider North West.
House price data from ONS for Cheshire East (including Knutsford, Macclesfield and Wilmslow) showed that the average house price for the region was £304,000 - up 10.7% from March 2024 (3).
Additionally, average mortgages for March 2025 were 11% higher than during the same period in 2024.
Altrincham House Prices
According to Dataloft, house prices have fallen slightly across Altrincham during the past 12 months.
The most dramatic fall in property prices impacted flats, with a drop of -4.9%, while the average price decrease for the area currently sits at -5%.
The average sales price in Altrincham during the past 12 months was £445,063.
The highest value recorded by the Land Registry over the past 12 months was £1,200,000 for a flat and £3,804,900 for a house.
Knutsford House Prices
House prices have risen consistently in Knutsford during the past decade. Although house price growth has stalled slightly in recent years, prices in Knutsford have grown by 1.4% as of March 2025 when compared to the same time last year.
This figure was 1.1% and 1.9% during January and February, respectively.
The average sales price for properties sold in Knutsford over the past 12 months was £440,547.
Within the upper quartile of the market, the highest sale value recorded by the Land Registry was £8,388,920 for a house and £690,000 for a flat.
Wilmslow House Prices
House prices in Wilmslow have generally increased over the past 12 months; however, once again, prices for flats have decreased during the same period.
Over the last 12 months, the average sales price in Wilmslow was £399,627.
The highest value recorded by the Land Registry over the past 12 months was £1,250,000 for a flat and £6,600,000 for a house.
Macclesfield House Prices
Following a similar trend to Altrincham, property prices in Macclesfield have fallen slightly during the past year. Again, this overall decrease has been heavily fuelled by an -8.6% fall in the average price of flats.
House prices have actually gained slightly, with a modest rise of 0.2%.
Over the last 12 months, the average sales price in Macclesfield was £254,561.
The highest value recorded by the Land Registry over the past 12 months was £385,000 for a flat and £1,020,000 for a house.
An Evolving Market
The property market across Cheshire continues to show signs of good activity, presenting excellent opportunities for homebuyers and savvy investors.
However, recent pricing trends do show some signs that buyers are becoming more cautious, meaning that vendors will need to think more about getting their pricing right and how to market their home to secure a buyer.
We’ve noticed an increase in instances where buyers request several property viewings before ultimately making a decision to buy, demonstrating that there is more caution in the market than in previous years.
This caution has also manifested in which properties are currently selling well across Cheshire. Buyers are less willing to buy properties in need of renovation or improvement and are willing to shop around for homes in good condition.
Vendors with well-presented properties in good condition shouldn’t struggle to find a buyer, provided they price their home realistically.
Sellers with homes that need improvement may need to either invest in making renovations before approaching the market, or adjust their pricing expectations in line with buyer behaviour.
With rental reform upending the lettings market for some landlords, there has been an increase in housing stock for flats in recent months, which seems to be fuelling the fall in prices for flats in regions such as Altrincham and Macclesfield.
This could be seen as an opportunity for investors with the vision and capital to manage a longer-term investment strategy built on bringing newly available housing stock up to code with rental reforms. (4)
Contact Meller Braggins Today
As the property market continues to evolve, it is becoming increasingly important to find the best supporting agent to help you secure the maximum value of your home.
Meller Braggins has been helping Cheshire residents buy and sell property since 1836. Today, we offer a unique director-led approach to selling some of Cheshire’s most exclusive properties, managing every aspect of the sales process from listing and marketing to completion.
Whether you are buying or selling, renting, or looking for advice on your mortgage, our local experts are ready and waiting to hear from you.
1: April 2025 UK Residential Market Survey
Previous monthly reports can be found here.
2: Housing prices in West Lancashire - ONS
3: Housing prices in Cheshire East - ONS
4: This does not constitute financial advice.