Property valuation Manchester: How much is my house worth?

If you're a homeowner in Manchester, you may have been keeping an eye on the housing market lately. Here’s some exciting news – recent data shows property prices in Manchester have surged by 2% since June 2023, more than in any other city in England. It’s an impressive uptick, a sign of a thriving market full of opportunity.

But behind those numbers is a more personal question: How much is my home worth today?

Don't worry. We are here to explain everything you need to know about property valuation in Manchester, offering insights that will help you better understand your home’s value and how to potentially increase it.

Table of contents

• What is a Property Valuation?
• Why Get a Property Valuation?
• Factors Affecting Property Value in Manchester
• Methods of Property Valuation
• Choosing a Valuation Service
• The Valuation Process
• Online Valuation Tools vs. Professional Online Valuations
• Tips to Increase Your Property Value
• Get Your Manchester Property Valuation Today

What is a Property Valuation?

When potential buyers stand outside and see your home, what do they think? Would they notice the recently renovated kitchen, the proximity to schools, or perhaps the quiet neighbourhood? All of these elements and more feed into the process of property valuation.

Property valuation is simply the process of determining how much your home would sell for in today’s market. This figure reflects what buyers are willing to pay for your home in today’s market conditions. It’s important to note that the value of your home can fluctuate over time based on various external and internal factors.

Why Get a Property Valuation?

Getting a property valuation is essential for various reasons. It can be used to 

• Provide a realistic valuation of the property, which can help you make informed decisions when buying, selling, or investing in a property
• Determine the current market value of your property, which can be useful for tax purposes, insurance, or mortgage applications
• Provide professional advice on the property’s condition, highlighting any potential issues or defects that may affect its value.

A valuation can be conducted by a professional surveyor, estate agent, or chartered surveyor, who will analyse the property’s features, local market trends, and other relevant factors to determine its value.

But what exactly goes into a property’s value? Let’s look a bit deeper into the elements that determine how much your home is really worth.

Factors Affecting Property Value in Manchester

Let’s say you’re walking through the vibrant neighbourhoods of Didsbury, Chorlton, or Ancoats. Each has its own character, appeal, and price. A surveyor or estate agent will need to accurately assess your property's value, taking several key factors into consideration.

1. Location: Homes near great schools, parks, and amenities tend to be worth more. If your home is a short walk to a trendy café or near a popular tram line, those conveniences add to the appeal.
2. Condition and Size: The state of your home plays a huge role. If your property is well-maintained or recently renovated, buyers are willing to pay more. On the other hand, homes that need repairs or are smaller may be valued lower.
3. Market Trends: The housing market ebbs and flows based on national and local conditions. Supply and demand, interest rates, and even local development projects can all impact your home’s value.
4. Comparable Sales: What have similar homes sold for in your area recently? If homes like yours are selling at high prices, it’s a good sign that your property’s value could also be on the rise.

By understanding these factors, you can get a clearer idea of where your home stands in the Manchester market.

Methods of Property Valuation

When it comes to valuing your property, there are different routes you can take. These are:

• Online Valuation Tools: Quick and easy, these tools provide an estimate based on the sale prices of similar properties in your area. While convenient, they can lack accuracy as they don’t consider the unique characteristics of your home.
• Estate Agent Valuations: Estate agents will visit your property and provide an estimate based on their knowledge of the local market and recent sales. This method is more reliable than online tools but can sometimes be influenced by agents’ motivations to secure your listing.
• RICS Surveyor Valuation: For the most accurate valuation, a Royal Institution of Chartered Surveyors (RICS) qualified surveyor can give a detailed assessment, often required for mortgages or legal purposes. An independent RICS valuation provides an impartial, market-focused assessment essential for making informed buying or selling decisions. These valuations are also crucial for various legal and financial purposes, underscoring their credibility and significance in determining property value.

Each method offers a different level of insight, so choosing the right one depends on how precise you need the valuation to be.

Choosing a Valuation Service

When choosing a valuation service, it’s essential to select a reputable and experienced provider. Look for a chartered surveyor or estate agent who has expert local knowledge and a deep understanding of the local market trends.

A good valuation service should provide a no-obligation valuation, which means you can get a free property valuation without committing to any further services. Additionally, look for a provider who offers a range of services, including RICS valuations, home surveys, and property advice.

If you’re looking to sell your property, UPSTIX can guarantee a free cash offer and valuation today. With no estate agents and no fees, it’s a fast and reliable service that lets you sell without the hassle. 

The Valuation Process

The valuation process typically follows these key steps:

1. Site Visit: A chartered surveyor or estate agent visits the property to assess its condition, size, and location.
2. Market Analysis: The surveyor reviews local market trends, recent sales data, and other relevant factors to gauge the property's current market value.
3. Documentation Review: Important property documents, such as title deeds, planning permissions, and any outstanding mortgages or loans, are examined.
4. Valuation Report: A comprehensive report is prepared, detailing the property's value along with any recommendations for repairs or improvements that could impact its worth.

Online Valuation Tools vs. Professional Online Valuations

Online valuation tools, like those offered by Upstix, deliver speed and convenience, giving you an estimate in minutes. However, these should be treated as rough guides. They use general market data but don’t consider the specific conditions or features of your property.

Professional valuations, on the other hand, provide a more accurate figure. If you're serious about selling or refinancing, a valuation from a RICS surveyor or estate agent will give you a clearer picture, considering the specific aspects of your property and its surroundings.

Tips to Increase Your Property Value

So, now that you have a better idea of your home’s worth, how can you maximise it? Here are some practical steps you can take to boost your property’s value before you sell:

1. Refresh Your Home’s Exterior: First impressions are everything. A well-maintained garden, freshly painted front door, or new windows can add instant appeal.
2. Modernise the Kitchen or Bathroom: These are two key areas buyers focus on. Even small updates like new taps or countertops can make a difference.
3. Convert Unused Spaces: Converting your loft or adding a home office can add significant value to your home, particularly post-pandemic, as more people work from home.
4. Energy Efficiency Improvements: Buyers are more environmentally conscious today. With rising energy costs, homes with good EPC ratings are more attractive to buyers. Consider installing double glazing, insulation, or solar panels.
5. Declutter and Depersonalize: Make it easier for potential buyers to imagine themselves living in your home by keeping spaces clean and neutral.

Get Your Manchester Property Valuation Today

As you sit back and think about your next move, remember that knowing the value of your Manchester home gives you the power to make smart decisions.

And if you’re ready to take action, Upstix can help you with a transparent, quick, and stress-free selling experience. With property prices on the rise in Manchester, there’s no better time to explore your options.

Ready to find out how much your home is worth? Get started with Upstix today!