HOUSE prices increased more than average for the north west in Bolton in July, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 2.2 per cent annual growth.
The average Bolton house price in July was £141,507, Land Registry figures show – a 1.2 per cent increase on June.
Over the month, the picture was similar to that across the north west, where prices increased one per cent, and Bolton outperformed the 0.5 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in Bolton rose by £3,000 – putting the area 22nd among the North West’s 39 local authorities for annual growth.
The best annual growth in the region was in Burnley, where properties increased on average by 8.4%, to £91,000. At the other end of the scale, properties in Eden dropped 4.1 per cent in value, giving an average price of £197,000.
Winners and losers
Owners of flats saw the biggest improvement in property prices in Bolton in July – they increased 1.5 per cent, to £91,274 on average– but over the last year, prices dropped by 0.5 per cent.
Among other types of property:
Detached: up one per cent monthly; up 2.6 per cent annually; £249,563 average
Semi-detached: up 1.4 per cent monthly; up 2.9 per cent annually; £151,346 average
Terraced: up one per cent monthly; up 1.8 per cent annually; £111,995 average
First steps on the property ladder
First-time buyers in Bolton spent an average of £118,500 on their property – £2,300 more than a year ago, and £20,100 more than in July 2015.
By comparison, former owner-occupiers paid £156,600 on average in July – 32.1 per cent more than first-time buyers.
How do property prices in Bolton compare?
Buyers paid 17.7 per cent less than the average price in the north west (£172,000) in July for a property in Bolton.
Across the north west, property prices are low compared to those across the UK, where the average cost £238,000.
The most expensive properties in the north west were in Trafford – £303,000 on average, and 2.1 times as much as in Bolton. Trafford properties cost 3.3 times as much as homes in Burnley (£91,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average July sale price of £1.2 million could buy 14 properties in Burnley (average £91,000).
Average property price in July:
Bolton: £141,507
The north west: £171,956
UK: £237,963
Annual growth to July
Bolton: +2.2 per cent
The north west: +3.5 per cent
UK: +2.3 per cent
Best and worst annual growth in the north west
Burnley: +8.4 per cent
Eden: -4.1 per cent
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