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Bolton House Prices Dip Below Regional Average in October
Cardwells Estate Agents brings attention to recent data indicating a decline in house prices in Bolton, surpassing the North West’s average downturn in October. With a decrease of 0.6 per cent, Bolton’s property market reflects a longer-term trend of diminishing prices, experiencing a 0.5 per cent annual decline. The average house price in Bolton stood at £188,897 in October, marking a noteworthy reduction from the previous month. Despite mirroring the broader North West trend of a 0.4 per cent decline in prices, Bolton’s decrease exceeded the UK’s overall drop of 0.7 per cent. Over the past year, property prices in Bolton have depreciated by £860 on average, positioning the area among the bottom half of the North West’s local authorities in terms of annual growth. First-time buyers in Bolton witnessed a slight decrease in property prices, with an average spending of £157,400, £1,100 less than the previous year but significantly higher than figures from October 2018. Conversely, former owner-occupiers paid an average of £210,300, indicating a notable difference of 33.6 per cent compared to first-time buyers. Among property types, flats experienced the most considerable price decline, with a one per cent drop in October, averaging £111,611. Over the year, flat prices in Bolton decreased by 1.8 per cent, reflecting the segment’s volatility in the local market.
