More affordable homes were built in Bolton this year, 2023. The department for Levelling Up, Housing and Communities figures show 255 affordable homes were completed in Bolton in 2022-23 – up from 229 during the same period the year before. The figures include social and affordable rental properties, affordable home ownership, shared ownership and first homes. The number of social rent homes, however, has seen a fall in the last decade, with affordable rent now the most common housing for new supply. Social rental properties are for low-income families and typically cost about 50% of market rents, while affordable housing is provided to low-income earners and can be charged up to 80% of market rents. In Bolton, 175 affordable rent homes and 80 shared ownership dwellings were delivered.
Across the country, there were also 71,000 affordable dwellings started on site in 2022-23, with 391 of those in Bolton. Andrew Cardwell, Managing Director of Cardwells Estate Agents Bolton & Bury had this to say:
“Its encouraging news for our Bolton community that more affordable homes have been built over the last year and this is clearly a step in the right direction. But it is it enough? The actual rise is only an additional 26 properties for the last 12 months when compared to the previous year, when there was 229 built. There is certainly a strong demand for good quality new build, affordable homes across our town and this is a market that I would expect to remain strong for the foreseeable future. As, like these figures suggest, there is not a great supply of new build affordable houses to the Bolton Property market. I would think that there is sufficient pent up demand for additional building of this nature which could be crystalised by developers in the future, whilst providing a great addition to the property stock of Bolton that meets the needs of our community.
Shared Ownership is also a superb way for excellent new build property stock to be available to as many people as possible. In these arrangements the buyer purchases a percentage share of a home (perhaps 50% or 75%) and lives there, whilst renting the remaining share that has not been purchased. There are usually opportunities to purchase an increased share of the equity over time, which would of course then reduce the rental amount paid. Some of the shared home ownership schemes that are available offer a superb route to property ownership, and there were around 80 new build properties provided to the Bolton property market, some by exceptional builders.”
Cardwells Estate Agents Bolton often have shared ownership properties to sell, so if this is something that you are looking for contact: Cardwells Estate Agents Bolton on 01204381281, [email protected]; www.cardwells.co.uk Cardwells Estate Agents Bury often have shared ownership properties to sell in Bury, so if this is something you are looking for contact: Cardwells Estate Agents Bury on 01617611215; [email protected] or via www.cardwells.co.uk
If you are looking to sell a property in Bolton or sell a property in Bury then Cardwells Estate Agents can be your go to estate agent. Cardwells have been selling property in Bolton and Bury for over 41 years and would love to sell your property too. It is likely that we will already have potential buyers registered with us who we can contact immediately. Cardwells also offer a fully managed rental service, so if you are a landlord in Bury or Bolton ands would like to put your investment property in safe hands to be managed by professional agents then look no further than Cardwells Lettings Agents Bolton and Cardwells Letting Agents Bury. Cardwells Letting Agents Bolton 01204381281, [email protected]; www.cardwells.co.uk Cardwells Letting Agents Bury on 01617611215; [email protected] or via www.cardwells.co.uk
Cardwells Estate Agents are here to serve the property market of Bury and Bolton and would love to be of service to you too
