Once a bustling hub of the cotton industry, Oldham in Greater Manchester has emerged as the UK town with the fastest-rising property prices, reflecting a significant shift in its housing market nearly 25 years after the last cotton mills ceased operations. Between 2024 and 2025, the average sold property price in Oldham increased by 9.85 percent, rising from £189,411 to £208,072.
Despite its industrial past and ongoing socioeconomic challenges, the town remains a busy and diverse community. Local business owner Margaret Vaughan describes a dual character within Oldham—its town center, marked by areas of deprivation and a rich mixture of cultures, contrasts sharply with the surrounding countryside, including the picturesque Saddleworth area. Large rural properties there, such as farmhouses, have experienced striking price growth, some reaching over £1 million after previously selling for around £600,000.
Recent property sales underline the strength of the local market, with only a small fraction—2.7 percent in central Oldham and 3 percent in Saddleworth—selling at a loss last year. The town center maintains vibrancy throughout the week, illustrated by active scenes near the Blue Coat School, an Ofsted-rated outstanding Church of England secondary academy, and the newly opened market hall.
Residents highlight Oldham’s multicultural and community-oriented character. Moussa Abdoulaye, a 35-year-old customer service worker from Chad who relocated to Oldham in 2023, points to the town’s diverse population, encompassing Muslim, Christian, Pakistani, African, and English communities. He notes Oldham’s liveliness compared to quieter neighboring towns.
Historically significant, Oldham was once represented in Parliament by Winston Churchill, whose tenure from 1900 to 1906 included delivering speeches from the local Old Town Hall. Today, the town’s landscape juxtaposes industrial remnants with new cultural symbols, reflecting post-partition migration patterns that brought Bangladeshi and Pakistani families to the area, contributing to its distinct local identity.
The town benefits from its proximity to Manchester, approximately six miles to the west, buffered by efficient public transport networks, including the Metrolink tram and Andy Burnham’s Bee Network buses. Young residents and students see Oldham as an affordable option that offers convenient access to Manchester’s employment and education opportunities.
However, the town continues to face socioeconomic pressures. Certain neighborhoods rank among the top 1 percent of the most deprived areas nationally, and the unemployment rate in Oldham was 6.6 percent in July 2025, notably higher than the national average of 4 percent. Still, the population is growing and remains relatively young, with a median age of 37 compared to 40 for both the North West region and England overall.
According to Jake Rowson, sales director at Ryder & Dutton estate agency, housing demand remains robust, particularly among first-time buyers. He notes considerable increases in property values, especially in lower-priced segments such as two-bedroom terraced houses. For example, a property on Fisher Street recently sold at auction for £140,000, reflecting a substantial rise in prices over the past few years.
While Oldham’s challenges persist, its evolving housing market, demographic trends, and diverse community underscore a town undergoing notable economic and social transformation.