A SLIGHT drop in house prices across Bolton is "no cause for concern" according to a local estate agent.

New Land Registry figures show the average house price fell by 0.2 per cent in April, down to £140,116.

The fall was in line with national and regional dips, with prices across the north west and the UK dropping by the same amount.

Andrew Cardwell, managing director of Cardwells Estate Agents, thinks homeowners have nothing to worry about.

He said: “A small dip in house prices in April is no cause for concern at all. Given the lockdown situation that we were all in at the time, there were virtually no transactions taking place, and very few new mortgages being provided.

"I urge people not to dwell on this too much, given the extreme national circumstances and in turn those placed on the property market at the time.

"A small drop was inevitable and on the grand scheme of things probably the least of everybody’s worries at that point in time."

Fortunately for sellers, the year-on-year picture looked a lot more positive, with house prices up by an average of 4.8 per cent from April 2019.

A change in Stamp Duty at the start of July has also helped to boost the property market.

Buyers will be able to snag a property worth up to £500,000 until March without paying the tax.

Mr Cardwell added: "With a combination of pent up demand, post-lockdown wants and needs changing, and the stamp duty incentive, it will come as no surprise that the market has improved greatly since April.

"There will always be fluctuations in prices as pressures on supply and demand have an impact, but at this moment conditions are excellent for sellers as there are a number of buyers in the market, and they are superb for buyers as the stamp duty incentive is in place so there are saving to be made.

"If you are thinking of making a move, this could be a good time.”