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Bolton Property Market Shows Resilience Amidst UK House Price Challenges
Cardwells Estate Agents highlights a positive trend in the Bolton property market, contrasting with the broader challenges faced by the UK housing sector. Despite nationwide fluctuations, Bolton has seen an increase in house prices over the past year, according to Andrew Cardwell, Managing Director at Cardwells Estate Agents. While Nationwide reported a 1.8 per cent decrease in average house prices across the UK in December compared to the previous year, Cardwell notes that Bolton has outperformed many other areas, showcasing resilience amidst economic uncertainties. Andrew Cardwell explains, “Throughout the past 12 months, the property market has encountered challenges such as increasing interest rates, high inflation, and a cost-of-living crisis. Despite initial predictions of a significant drop in house prices nationwide, the reality has been far from that. In fact, analysis by Plumplot indicates that the average price in Bolton experienced a decrease of less than one percent over the same period, considerably better than the national average. This demonstrates the strength of the Bolton property market, not only within the North West and Greater Manchester but across England.”
Cardwells Estate Agents Report Rise in Bolton House Prices
He continues, “Data from Rightmove reveals that the average price of residential properties in Bolton has risen by 14 per cent since 2020, indicating a notable upward trajectory in prices over a more extended period. This positive momentum is reflected in our recent activity, with a busy period recorded at our Bolton office in December, suggesting a post-Christmas buoyancy that is likely to persist into 2024. Furthermore, the recent decrease in inflation, falling below the target set by Mr Sunak, and anticipated interest rate reductions in the new year are expected to revitalise the property market not only in Bolton but nationwide.” Cardwell concludes optimistically, “The consistent demand in the Bolton property market bodes well for the future, and I anticipate continued steady growth in property prices throughout 2024.”
