Credit: The Bolton News
Bolton House Prices: A Momentary Dip Amidst Promising Trends
Cardwells Estate Agents offers reassurance to Bolton residents amidst recent data revealing a slight dip in house prices during June. According to the latest figures from the Land Registry, average house prices in Bolton experienced a marginal decline of 0.2 per cent, settling at £138,864. While this may seem concerning in isolation, Andrew Cardwell, the managing director of Cardwells Estate Agents, suggests a nuanced perspective, urging homeowners not to be overly alarmed by this statistical blip. He attributes the temporary setback to the unique circumstances surrounding the lockdown earlier in the year, which significantly impacted sales activity and subsequent price analyses.
Insights from Cardwells Estate Agents Amidst June’s Price Fluctuation
Despite the minor setback observed in June, broader statistical trends indicate a positive trajectory in Bolton’s property market. Over the past year, there has been a commendable 0.7 per cent average annual increase in house prices, reflective of underlying demand dynamics. Mr. Cardwell underscores the pivotal role of changing stamp duty regulations in bolstering market activity, highlighting the Stamp Duty Holiday as a significant catalyst. The incentive, which alleviates tax burdens for homebuyers, has stimulated robust demand since its introduction in May 2020. With potential savings of up to £15,000 for eligible buyers, many are seizing the opportunity before the looming March 2021 deadline. While Bolton’s position in the North West’s local authorities for annual growth currently ranks 30th out of 39, Mr. Cardwell emphasises the transient nature of market fluctuations and encourages prospective buyers and sellers to capitalise on the favourable conditions prevailing in the market.
