On 6 November 2026 the government said the National Housing Bank and Greater Manchester agreed up to £500 million for new homes, England’s first such deal, each scheme subject to Bank approval. Land Registry records show new builds took a 31.6 per cent share of 213 of 674 SK1 sales in 2023 and 2024.
The agreement is with Homes England’s National Housing Bank. It opens investment alongside the Greater Manchester Good Growth Fund, which the same statement said launched one year ago, and builds on work named at projects including Victoria North and Stockport’s mayoral development corporation.
Land Registry records for SK1 also show 26 new builds among 564 homes sold in 2021 and 2022, a 4.6 per cent new-build share. Each project under the 6 November announcement must align with the National Housing Bank’s mandate and pass its due diligence, governance and approval processes, with no individual scheme pre-approved and no later decision date named.
Source: HM Land Registry Price Paid Data
Where SK1 diverges
Across calendar 2023 and 2024, new builds took 4.9 per cent of Land Registry sales in Greater Manchester in 2023 (4,247 of 86,706 homes sold) and 3.5 per cent in 2024 (3,275 of 93,995). In England the new-build share was 11.4 per cent in 2023 (98,150 of 861,782) and 9.6 per cent in 2024 (89,505 of 932,214).
What latest medians show
In the twelve months to August 2026, England sold for a median of £285,000 across 671,521 homes sold and Greater Manchester £230,000 across 33,017. Manchester’s median was £245,000 across 5,140 sales (187 new builds), Salford’s £225,000 across 3,286 (112 new builds) and Stockport’s £300,000 across 3,985 (12 new builds).
Flats in the same window
Bev Craig, Mayor of Greater Manchester, said: “Over the past decade Greater Manchester has grown faster than anywhere else in the UK. But not every resident or place has yet felt the benefit. We set up the Good Growth Fund to spread that growth to all of our places, so that no community is left behind.”
Paul Dennett, Deputy Mayor of Greater Manchester and City Mayor of Salford, said: “The Good Growth Fund is an important way that Greater Manchester is responding to the housing crisis, using the city region’s growth to help build more social and affordable homes, so that more of our residents can have a safe and healthy place to call home.”
In the twelve months to August 2026, flats sold for a median of £205,000 across 1,748 sales in Manchester, £168,250 across 404 in Stockport, £167,500 across 4,603 in Greater Manchester and £160,000 across 910 in Salford.
No individual scheme is pre-approved under the 6 November announcement; each investment must still clear the National Housing Bank’s mandate and its approval processes.