North West Property Market: Regional Analysis & County Comparison, Q3 2026 Edition

The North West region encompasses 5 counties, recording a combined 88,637 residential transactions in the 12 months to 31 May 2026. The regional median property price stands at £168,125, with prices rising by 0.6% year-on-year.

On a quarterly view, North West median prices moved from £210,467 in Q4 2024 to £211,551 in Q1 2026, a change of +0.5% over 5 quarters. North West has now recorded 2 consecutive quarters of price falls.

Local planning authorities across the region approved 2,820 residential applications and refused 705 in the last 12 months, a decision-weighted approval rate of 80%.

HM Land Registry has so far registered 2,174 new-build sales across the region for the past 12 months. Registrations lag completions by 6 to 18 months, so this is not a completions figure.

The table below compares all 5 counties in the North West region, ranked by median property price. Click any county name for the full market report.

Property prices across North West vary significantly. Cheshire commands the highest median price at £270,000, while Cumbria offers the most affordable entry at £161,875 — a spread of £108k.

This price differential creates opportunities across the risk-return spectrum. Premium locations offer higher GDVs but require larger capital commitments, while more affordable areas can deliver stronger percentage returns on lower absolute investment.

Measured by residential planning approvals in the last 12 months, the most active counties in North West are Cheshire (906 approved, 87% approval rate), Greater Manchester (896 approved, 72% approval rate), Lancashire (574 approved, 79% approval rate).

By total transaction volume, an indicator of market liquidity and exit confidence, Greater Manchester (40,390 sales), Lancashire (16,443 sales), Merseyside (13,462 sales) lead the region.

Developers entering the North West market should weigh these two metrics together: approvals show where consent is being granted, while transaction volume confirms buyer demand.

Development finance across North West varies by location and scheme size. In premium areas like Cheshire, typical scheme GDVs support larger facilities, while more affordable counties may suit developers using bridging finance for refurbishment-led strategies.

Senior development finance is available from 6.5% p.a. at up to 65-70% LTGDV, with mezzanine finance stretching total borrowing to 85-90% of costs. For developers building across multiple sites in the region, portfolio-level facilities can offer better terms.

Construction Capital sources terms from 100+ lenders across the North West region. Submit your scheme through our deal room for indicative terms within 24 hours.