M2 house prices

M2 house prices are built from 129 sales lodged with HM Land Registry, the oldest in 2001 and the most recent on 26 Jan 2026. The median price paid across the whole record is £250,000. Across the 14 years from 2009 to 2023 the median moved +104.7% in cash — but once inflation is taken out, the change in 2026 money is +34.6%.

HM Land Registry129 sales38 with floor areaLatest sale 26 Jan 2026

The chart tracks the median M2 house price for every year with a recorded sale, from 2001 to 2023. The dashed line restates each year in 2026 money, so the two lines separate exactly as much as inflation has eroded the cash figure.

The highest yearly median on record for M2 is £345,000 in 2016; the lowest is £130,000 in 2008. Across the full 23-year record the cash median has moved from £217,500 to £327,500.

In 2026 money that first median is worth £426,530, so the real change over the whole record is -17.0% — about -0.85% a year after inflation. Cash growth and real growth are not the same story, and the gap is the part most price reports leave out.

Over the last decade alone the difference is stark: +104.7% in cash against +34.6% once inflation is removed. A buyer who sold at the end of that decade would have needed the real figure, not the headline one, to know whether they had actually gained.

Every row is a completed sale as lodged with HM Land Registry. The right-hand column restates the price in 2026 money, which is the only fair way to compare a sale from the 1990s with one from last year.

These addresses appear in the register more than once, so the same bricks are being priced twice. That makes them the strongest evidence of what actually happened to M2 values — no mix of property types can flatter the number.

The mix of property types explains a large part of any area's median. M2 is dominated by the type at the top of this table, so its overall median leans that way.

Energy Performance Certificates record a floor area for every home that has been surveyed, sold or let — far more homes than have changed hands. 86 certificates cover M2, and their median floor area is 66 m².

The median across the whole register is 76 m², so homes here are smaller than average — -13.2%. Size explains a large part of why one area's median price sits above another's, which is why the price per square metre further up this page is the fairer comparison.

122 of the sales on record are leasehold and 7 freehold — 94.6% of the market. Tenure is not a detail: a leasehold flat and a freehold house are different assets, and mixing them into one median hides the difference.

The median leasehold sale is £245,000 and the median freehold sale £450,000 — a gap of +83.7%. Most of that gap is property type rather than tenure itself: leasehold here is largely flats, freehold largely houses.

New builds sold for less than the median existing home — -13.4%. A new-build premium is normal: the buyer gets a warranty and nothing to fix, and the price is set by a developer rather than negotiated between two households.

A further 219 transfers for this area are on the register but are left out of every figure above. HM Land Registry marks them as additional price paid entries: repossessions, buy-to-let portfolio moves, transfers between companies or family, and sales at a discount such as right to buy. They are real records but they are not open-market prices, and including them would drag the median somewhere no buyer ever paid.

The median across the whole archive is £157,500. M2 sits above that national figure — +58.7%.

Where an EPC floor area could be matched to the sale, the median works out at £3,762 per square metre, across 38 of the 129 sales on record. Price per square metre is the only figure that compares a two-bed flat with a four-bed house honestly.

The full range on record runs from £10,000 to £4,850,000. Extremes usually mean something unusual — a plot sold without a house on it, a transfer between family members, or a very large property — so the median is the number to trust.

Sectors inside M2

• M2 4£219,750 median

This district mostly covers Manchester.

What is the average house price in M2?

The median price paid in M2 across every sale on the register is £250,000. The median is used rather than the mean because a handful of very large sales would otherwise drag the average away from what a typical buyer paid.

How many homes have sold in M2?

129 sales are on record for M2, the most recent completing on 26 Jan 2026. Every one is a completed transfer lodged with HM Land Registry, not an asking price or an estimate.

Have M2 house prices actually risen?

In cash, the median rose +104.7% between 2009 and 2023. In 2026 money — that is, after inflation — the change is +34.6%. Both numbers are true; only the second one tells you whether buying here preserved value.

When were M2 house prices at their highest?

The highest yearly median on record is £345,000, set in 2016. That is the cash figure; measured in 2026 money the peak may fall in a different year, because inflation reshapes the series.

What is the price per square metre in M2?

£3,762 per square metre, from the 38 sales where an EPC floor area could be matched to the address. Price per square metre strips out size, so a flat and a house can be compared on the same basis.

How current is this data?

The latest sale shown here completed on 26 Jan 2026. HM Land Registry publishes Price Paid Data monthly and a sale can take a month or two to appear after completion, so the most recent weeks are always incomplete.

Cite this page: Sold Price History, “M2 house prices”, 2026. Source: HM Land Registry Price Paid Data © Crown copyright and database right, used under the Open Government Licence v3.0. Inflation adjustment: ONS CPIH.