EPC rating and sold prices in M21 (Manchester)
In postcode district M21 (Manchester), homes rated EPC C or better sold for 7% less per square metre than D–G homes (median £3,471 vs £3,722, 4,237 sales). Like for like — same size, type, build period and year — homes rated C or better sold for 2.2% less (95% range −3.9% to −0.5%). 1 of 4 sectors with enough sales show a difference distinguishable from zero. Data: HM Land Registry to 30 September 2026, EPC register.
From the raw gap to like-for-like
The homes are not alike: C+ homes here have a median floor area of 78 m² against 94 m² for D–G; the most common build period is 2012 onwards for C+ and 1900–1929 for D–G; 34% of C+ and 49% of D–G sales are detached or semi-detached houses.
| Comparing C+ with D–G homes… | Difference | 95% range |
|---|---|---|
| Raw gap per m² (medians) | −7% | — |
| Whole price, nothing held equal | −21.1% | −23.6% to −18.4% |
| Same floor area | −7.8% | −9.8% to −5.9% |
| + same property type | −4.8% | −6.7% to −2.8% |
| + same build period | +1.9% | −0.3% to +4.1% |
| + same year of sale | −2.2% | −3.9% to −0.5% |
The first row compares median prices per m²; the second compares whole prices; each later row adds one more thing that must be equal, ending with the like-for-like premium (regression of log price; build period from the certificate, 12 bands). The raw gap per m² and the whole-price gap differ because C+ and D–G homes differ in size.
Postcode sectors in M21
| Sector | Sales | Raw gap | Like-for-like | 95% range |
|---|---|---|---|---|
| M21 0 | 732 | +6% | +3.1% | −1.4% to +7.9% |
| M21 7 | 950 | +1% | −0.2% | −3.0% to +2.8% |
| M21 8 | 900 | −7% | +1.8% | −2.2% to +5.8% |
| M21 9 | 1,655 | −2% | +3.1% ▲ | +0.8% to +5.5% |
▲ green: premium distinguishable from zero; ▼ red: discount; plain: no measurable difference. Small areas have fewer sales, so their 95% ranges are wider.
Sold prices by EPC band in M21
| EPC band (last certificate before sale) | Sales | Median £ per m² |
|---|---|---|
| A | 1 | too few |
| B | 274 | £3,049 |
| C | 1,075 | £3,600 |
| D | 1,977 | £3,791 |
| E | 750 | £3,580 |
| F | 138 | £3,480 |
| G | 22 | £3,119 |
A median is shown when a band has at least 10 sales.
How this is calculated
- Every standard sale (HM Land Registry Price Paid, category A) since January 2015 is matched to the latest energy certificate of the same address (postcode + house number or name + flat) lodged from 10 years before to 3 months after the sale; sales with no certificate or an ambiguous match are left out. Across England and Wales 92% of sales match.
- Price per m² uses the certificate's total floor area (15–1,000 m²).
- Like-for-like premium: regression of the log of price on “C or better”, log floor area, property type, the certificate's build period and the year of sale. The 95% range shows how precise the estimate is; when it includes zero, the data cannot tell the premium apart from none.
Caveats
- The band is the one on the certificate before the sale; certificates are a median 0.8 years old at the sale, but a quarter are over 4 years old and some homes were improved since.
- Condition, garden, parking, views and the exact position within the sector are not known; a premium could hide in them, or they could hide one.
- Individual sales and addresses are not shown.