The most expensive and cheapest neighbourhoods to buy a property in Bolton have been named.
New figures from the Office for National Statistics show where properties are likely to set you back the most in Bolton, and where you could snap up a bargain.
The Heaton and Lostock neighbourhood was Bolton’s priciest, with a median value of £270,000 among the 208 sales in the area last calendar year.
The next most expensive was the Bromley Cross area, where a house could set you back £253,000, and Bradshaw, which had a median price of £250,000 in 2022.
Meanwhile, the Halliwell neighbourhood saw the lowest house prices, with buyers paying an average of £105,000 across 128 sales last year.
This was followed by Rumworth and Great Lever, where buyers spent £114,000 and £116,250 respectively.
Heaton, Lostock and Chew Moor ward councillor Andy Morgan said: “It is no surprise that yet again the properties in the ward are so sought after as it is a beautiful part of the borough to live.
“A large part of the ward is covered by a conservation area which means it retains its original character and gives added protection to its open green spaces and trees.
“Only this week the area featured predominantly when a lot of the route for the Ironman competition was through it which helps showcase the area and the recent addition of Chew Moor village to the ward will only enhance its reputation further as a great place to live.”
Andrew Cardwell, Managing Director at Cardwells said: “There are so many wonderful areas within Bolton that firstly, it is no wonder there has been such a volume of property sales across the period, as the demand for property across all areas of Bolton has remained strong.
“Bolton offers an enviable cross section of property with a fascinating and eclectic mix of modern and traditional architecture across the town, with homes of various types and sizes, so that hopefully there is property to suit any budget across our wonderful town.
“Bolton has a cosmopolitan population across the community that enjoys the wonderful schools, excellent transport links, stunning countryside, plus the superb retail, dining, and entertainment facilities.
“Bolton remains an attractive proposition for buyers from out of the area, particularly with the superb employment opportunities that have been created over recent, Logistics North being an example.
“The National average house price according to Land Registry figures in January 2023 was £289,818.
“So, although Lostock at £270,000 and Bromley Cross at £253,000 lead the way locally, when comparing the prices to the national average, these areas still seem to indicate that they are of excellent value.
“When taking a more regional and national perspective the Bolton property market as a whole offers superb value for money.
“Bolton is both a wonderful home to raise a family and also, make long term property investments as there is still clearly excellent potential for capital growth.”
Across the country, property sales have slowed significantly in the past year.
Richard Donnell, executive director of research at the property search website Zoopla, said: “The increase in mortgage rates is having a bigger impact on the number of sales rather than house prices so far.”
“Recent research by the company suggests sellers are shaving off more than five per cent of the original asking price to achieve a sale.
“There are big regional variations with market activity holding up better in Scotland, the North East and London while sales have increased more slowly in England regions across the south of England.
“House prices are starting to post small falls in higher value markets where average values are over £400,000 – in more affordable markets prices are still rising year on year, albeit at much slower rates than a year ago.”
There were 700,000 sales across England and Wales in the year to December 2021 – down from a recent peak of more than 1.1 million in the year to September 2021.
Overall, house prices have remained steady, with a median price of £280,000 last year – a £5,000 increase on the year before.
In Bolton, the average house cost £175,000 in 2022 – up from £165,000 a year before.
The number of properties sold dropped, from 4,363 in 2021 to 3,319 last year.
Source : TheBoltonNews