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The minimum deposit needed to buy a house in these Manchester areas

This is how much money you’ll need to save for a deposit if you’re wanting to purchase a property in these postcode areas of Manchester.

If you’re thinking about getting on the property ladder, you’ll likely need to take out a mortgage with a bank, and put down a deposit towards the total price of the property.

Most high street banks offer mortgages at up to 95% loan-to-value, meaning it is possible to get on the property ladder with a deposit of 5% of the property price.

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However, depending on your circumstances and the property you are buying, you may need a higher deposit of 10%.

With that in mind, we’ve taken a look at the minimum amount of cash you would need to put down to purchase a property in these areas of Manchester.

M1

Properties in M1 had an overall average price of £245,408 over the last year.

You would need at least £12,250 to put down as a deposit to purchase a house in this area covering Piccadilly, Northern Quarter, and Manchester City Centre.

M2

Properties in M2 had an overall average price of £355,000 over the last year.

You would need a deposit of around £17,750 to purchase a house in this area covering Manchester City Centre.

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M3

Properties in M3 had an overall average price of £239,684 over the last year.

You would need a deposit of around £11,950 to purchase a house in this area covering Deansgate, Castlefield, Blackfriars and Greengate.

M4

Properties in M4 had an overall average price of £265,144 over the last year.

You would need a deposit of around £13,250 to purchase a house in this area covering Ancoats and Northern Quarter.

Ancoats. Photo: Marketing Manchester

M5

Properties in M5 had an overall average price of £180,941 over the last year.

To purchase a property in this area covering Ordsall, Seedley, and Weaste, you would need a deposit of around £9000.

M6

Properties in M6 had an overall average price of £194,829 over the last year.

To purchase a property in this area covering Pendleton, Irlams o’ th’ Height, Langworthy, Seedley, and Charlestown, you would need a deposit of around £9,700.

M7

Properties in M7 had an overall average price of £281,744 over the last year.

You would need a deposit of around £14,050 to purchase a house in this area covering Higher Broughton, Cheetwood, Lower Broughton, and Kersal.

M8

Properties in M8 had an overall average price of £169,869 over the last year.

To purchase a property in this area covering Crumpsall and Cheetham Hill, you would need a deposit of around £8,450.

M9

Properties in M9 had an overall average price of £167,256 over the last year.

To purchase a property in this area covering Harpurhey and Blackley, you would need a deposit of around £8350.

M11

Properties in M11 had an overall average price of £173,181 over the last year.

To purchase a property in this area covering Clayton, Openshaw and Beswick, you would need a deposit of around £8,650.

M12

Properties in M12 had an overall average price of £156,858 over the last year.

To purchase a property in this area covering Ardwick, West Gorton and Belle Vue, you would need a deposit of around £7,800.

M13

Properties in M13 had an overall average price of £209,305 over the last year.

To purchase a property in this area covering Chorlton-on-Medlock and Longsight, you would need a deposit of around £10,450.

M14

Properties in M14 had an overall average price of £203,733 over the last year.

To purchase a property in this area covering Fallowfield, Moss Side, Ladybarn, Rusholme, and Victoria Park, you would need a deposit of around £10,150.

M15

Properties in M15 had an overall average price of £215,402 over the last year.

To purchase a property in this area covering Hulme, buyers would need a deposit of around £10,750.

M16

Properties in M16 had an overall average price of £263,367 over the last year.

To purchase a property in this area covering Firswood, Whalley Range, and Moss Side, buyers need a deposit of around £13,150.

M17

Properties in M17 had an overall average price of £235,000 over the last year.

To purchase a property in this area covering Trafford Park, buyers would need a deposit of around £11,750.

"The best alternative use for this land would be for high quality housing" writes one reader.

M18

Properties in M18 had an overall average price of £151,756 over the last year.

To purchase a property in this area covering Abbey Hey, buyers would need a deposit of around £7,550.

M19

Properties in M19 had an overall average price of £237,661 over the last year.

To purchase a property in this area covering Levenshulme and Burnage, buyers would need a deposit of around £11,850.

M20

Properties in M20 had an overall average price of £376,108 over the last year.

To purchase a property in this area covering Didsbury and Withington, buyers would need a deposit of around £18,800.

M21

Properties in M21 had an overall average price of £390,893 over the last year.

To purchase a property in this area covering Chorlton-cum-Hardy and Barlow Moor, buyers would need a deposit of around £19,500.

M22

Properties in M22 had an overall average price of £206,125 over the last year.

To purchase a property in this area covering Wythenshawe and Northenden, buyers need a deposit of around £10,300.

M23

Properties in M23 had an overall average price of £223,743 over the last year.

To purchase a property in this area covering Baguley and Brooklands, buyers would need a deposit of around £11,150.

M40

Properties in M40 had an overall average price of £168,911 over the last year.

To purchase a property in this area covering Collyhurst, Miles Platting, Moston, New Moston, and Newton Heath, buyers would need a deposit of around £8,400.