HOUSE prices increased in Bolton in August, data shows.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 3.2 per cent annual growth.
The average borough house price in August was £143,457, Land Registry figures reveal – a 1.4 per cent increase on July.
Over the month, the picture was similar to that across the north west, where prices increased 1.4 per cent, and Bolton outperformed the 0.7 per cent rise for the UK as a whole.
Over the last year, the average sale price of property in the town rose by £4,500 – putting the area 27th among the north west’s 39 local authorities for annual growth.
The best annual growth in the region was in Tameside, where properties increased on average by 7.5 per cent, to £164,000.
At the other end of the scale, properties in Hyndburn dropped 2.8 per cent in value, giving an average price of £96,000.
Winners and Losers
Owners of detached houses saw the biggest improvement in property prices in Bolton in August – they increased 1.6 per cent, to £253,665 on average. Over the last year, prices rose by 3.9 per cent.
Among other types of property:
Terraced: up 1.3 per cent monthly; up 2.6 per cent annually; £113,385 average.
Flats: up 0.8 per cent monthly; remained level over the year; £91,825 average.
First steps on the property ladder
First-time buyers in Bolton spent an average of £120,000 on their property – £3,400 more than a year ago, and £21,100 more than in August 2015.
By comparison, former owner-occupiers paid £158,900 on average in August – 32.5 per cent more than first-time buyers.
How do property prices in Bolton compare?
Buyers paid 17.4 per cent less than the average price in the north west (£174,000) in August for a property in Bolton.
Across the north west, property prices are low compared to those across the UK, where the average cost £239,000.
The most expensive properties in the north west were in Trafford – £306,000 on average, and 2.1 times as much as in Bolton.
Trafford properties cost 3.4 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 August sale price of £1.4 million could buy 15 properties in Burnley (average £91,000).
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