Credit: The Bolton News
Bolton House Prices Continue to Rise, but Growth Slows
Cardwells Estate Agents has reported more stable and sustainable growth in Bolton house prices, with values continuing to rise more slowly than during the post-pandemic boom. According to the latest Office for National Statistics figures, the average cost of a mid-range home in Bolton reached £189,000 by September 2024—up more than £6,000 from the previous year.
However, this price growth contrasts with just a £250 rise in average salaries, making affordability a growing concern for many local buyers.
Despite this, Andrew Cardwell, Managing Director of Cardwells, remains positive. “Recently, we’ve seen house prices increase more gradually than the sharp surges seen after the pandemic,” he noted. This shift is primarily influenced by falling interest rates, with the base rate now at 4.5%, nearly one point lower than last August, encouraging news for mortgage applicants, especially first-time buyers.
Stability and Opportunity in Bolton’s Property Market
Andrew also highlighted recent government policy changes, including higher stamp duty and tax measures targeting landlords and investors. These have eased competition for entry-level homes, opening the door for more first-time buyers in Bolton.
“While affordability remains a challenge, Bolton’s housing market is built on strong foundations,” Andrew said. “There’s a diverse range of properties to suit all budgets, and we’re seeing an increase in listings in early 2025, giving buyers more choice without flooding the market.”
Although many new builds are apartments, which may not appeal to families, Cardwells expects continued growth in house values. “Lower interest rates and reduced cost-of-living pressures could signal a more balanced and accessible market moving forward,” Andrew concluded.
