Credit: The Bolton News
Historic Smithills Coaching House Luxury Homes Completely Sold Out
Cardwells Estate Agents delves into the latest figures from the Office for National Statistics (ONS), revealing a notable increase in property prices in Bolton. Prospective homeowners in Bolton are facing an average £5,000 rise in property costs compared to the previous year, marking a significant shift amidst a national trend of falling prices dating back to 2016. Despite this surge, Bolton’s average home price of £140,800 in December 2019 remains notably lower than the national average of £251,700. However, this upsurge in property values coincides with a decrease in property sales across the borough, posing both challenges and opportunities for the local housing market. Andrew Cardwell, managing director at Cardwells Estate Agents, interprets the data as positive news for homeowners in Bolton, highlighting the contrast with the broader trends observed across England and Wales. He attributes Bolton’s comparative rise in property prices to recent investments and developments in the town, particularly at Logistics North, which hosts major employers such as Amazon, Aldi, Whistl, and Lidl. With a growing number of employment opportunities, Bolton becomes an increasingly desirable location for property buyers, leading to heightened demand and subsequent upward pressure on prices. Cardwell underscores the interplay between dwindling property supply and increased demand, driving the surge in property valuations as evidenced by the report.
