Credit: The Bolton News
Bolton House Prices Experience May Decline
Cardwells Estate Agents sheds light on the recent fluctuations in Bolton’s property market, revealing that house prices in the area experienced a notable decline in May, surpassing the average downturn observed across the North West. Industry experts attribute this dip to a confluence of political and economic factors, including heightened inflation levels, the cost-of-living crises, and escalating interest rates, which have collectively exerted pressure on the housing sector.
Insights and Analysis from Cardwells Estate Agents
Managing Director at Cardwells Estate Agents, Andrew Cardwell, underscores the resilience of Bolton’s property market despite the transient setbacks witnessed in May. While acknowledging the month-on-month decline, Cardwell emphasizes the importance of evaluating the market’s performance over a broader annual perspective, where a commendable 4.2 per cent year-on-year price growth paints a more comprehensive picture. Despite the challenges posed by macroeconomic uncertainties, Bolton’s allure remains intact, buoyed by its array of appealing attributes such as top-notch educational institutions, picturesque landscapes, thriving employment prospects, and vibrant recreational amenities. Moreover, Cardwell notes two encouraging economic developments – a reduction in average mortgage rates and a slight dip in inflation – signaling potential improvements in the property market’s trajectory. With these positive indicators and a solid foundation, Cardwells Estate Agents remains optimistic about Bolton’s property market prospects, anticipating sustained resilience and long-term growth.
Read the full news article on The Bolton News here.
