Bolton Ranks 6th Nationwide in Home Purchase Demand, According to Statistics

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Illuminating Prospects: Bolton’s Home Buying Market Resilient as Lockdown Eases

Cardwells Estate Agents is optimistic about the future of Bolton’s home buying market as the post-lockdown period showcases a notable surge in activity. According to property website Rightmove, the first two weeks of March compared to June 1 to 14 witnessed a substantial 59% increase in buyer demand, marking one of the highest leaps in England, shared Managing Director Andrew Cardwell. The market, unlocked around May 13, experienced pent-up demand, with an influx of potential buyers registering their details and preferences in the last month. As COVID-19 restrictions ease, Cardwells anticipates a more significant increase in property supply, particularly after September when children are expected to return to school.

Unlocking Potential: Rightmove Data Reveals 59% Surge in Buyer Demand

Nine out of the top 10 areas witnessing the strongest surge in demand boast average asking prices below the national average of £337,884 for England. Bolton, with an average home asking price of £183,062 in June, aligns with this trend. Despite Wilmslow being the exception with an average home price of £461,535, Andrew Cardwell remains confident in the financial backing available for potential buyers. While interest rates are at a record low, Cardwell acknowledges the changing lending requirements, emphasising the likelihood of larger deposits. Despite this shift, he expresses confidence that as lockdown conditions ease further, the increased demand will persist, contributing to a flourishing property market.

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