Over the last year, house prices have been consistently increasing across Greater Manchester, with properties coming onto the market at considerably high prices due to an ongoing imbalance of supply and demand.
Despite the lower and mid ends of the property market continuing to remain busy, it appears that on the higher end of the market, property prices are taking a tumble.
In some of the region's most expensive areas, those multi-million pound mansions that we all love looking inside on Rightmove and Zoopla appear to be struggling to sell. And as a result of this, in order to attract a wider range of buyers, their prices are being slashed.
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Here we look at some of Greater Manchester's most expensive homes that are plummeting in price, with one lavish property has had its for sale price cut by as much as £750,000 since it was first listed over a year ago.
Hale Road, Hale
This beautiful six-bed property in Hale, one of Greater Manchester's most affluent areas, was put on the market for £2,500,000 back in October 2021, but over the last year it has been reduced by a significant amount.
The home, which boasts its own outdoor heated swimming pool, has since been slashed by a whopping £750,000 after struggling to sell.
The stunning four-storey house which is elegantly styled throughout had its price reduced from £2,500,000 to £2,300,000 back in November 2021, then in April 2022 it was reduced from £2,300,000 to £2,100,000.
Just before Christmas on December 21, 2022, the price plummeted again to what is now £1,750,000.
Ashley Mill Lane North, Hale
Also in Hale, this incredible five-bed home which comes with 10 acres of land has had its original listing price cut by £500,000 in the last six months alone.
The LA-style mansion which features an indoor and an outdoor pool was initially put up for sale at a staggering £8,000,000 back in August 2022.
Since January 6, 2023, it's now been on the market for a reduced price of £7,500,000.
Chorley Road, Westhoughton
Over in Bolton, this sprawling five-bed home has also had its price cut by half a million pound.
Irlams Farm, boasting a huge 19.61 acres of land, was initially put on the market for £3,000,000 back in October 2021.
But after months on the market without a sale, in May 2022 its listing price plummeted to £2,500,000 - yet it still remains on the market today.
Old Kiln Lane, Heaton
Also in Bolton, this five-bed barn conversion out in the country was put on the market for £2,750,000 back in September 2021.
Despite boasting a two acre plot and a traditional farmhouse-style family home, the property struggled to sell.
The price was first reduced in November 2021 by £250,000, taking it to £2,500,000.
Then almost a year later in October 2022, the listing price was dropped by another £200,000 to £2,300,000, which is the price that it remains on the market for today.
Ravenhurst Drive, Bolton
In the same borough, a whopping nine-bedroom estate with both a detached home and a lodge has had its price slashed by £405,000 in recent months.
The huge contemporary plot has been up for sale since October 2019 when it was first listed for £2,300,000.
In July 2021, its price was reduced by £300,000 to £2,000,000, and then after struggling to sell again, in October 2022 it was reduced by £105,000 to its current price of £1,895,000.
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