Bolton's most expensive streets named as houses continue to be 'hot property'

The average UK house price hit a record high of £276,759 at the start of 2022 after increasing by around £24,500 over the past year.

Buyers had to fork out almost £15,000 more for homes in Bolton last year, according to new figures which also reveal the most expensive neighbourhoods in the area.

The impact of the coronavirus pandemic, which prevented house sales during the first lockdown, coupled with stamp duty holidays, has boosted the housing market across the UK since the world opened back up in 2020.

Office for National Statistics data shows the median house price hit £154,000 in Bolton in the year to June – an increase of £14,000 compared to the previous 12 months.

House prices were also above pre-pandemic levels, with the average standing at £135,000 in the year to June 2019.

The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.

These neighbourhoods in Bolton recorded the highest median house prices in the year to June: (Scroll down for breaking down of streets)

- Lostock and Ladybridge: £306,000 – up from £260,000 in 2019-20

- Dunscar and Egerton: £242,000 – up from £205,000

- Bromley Cross and Bradshaw: £235,000 – an increase from £216,000

- Over Hulton: £223,000 – rising from £205,000

- Harwood: £213,000 – up from £188,000

Most Expensive Streets in Bolton.

Ladybridge Lane. Picture Google Maps

Homes Sales company Property Solvers (https://www.propertysolvers.co.uk/property-auctions) tracked average sold price data from HM Land Registry since early 2016 to see where the highest and lowest-priced homes are located across the BL postcodes.

On Chorley New Road (BL1), eight properties sold for an average of £1,161,625. Victoria Road (BL1), three properties sold for an average of £1,110,000. Also, Grange Road (BL7) saw four properties sell for an average of £930,250.

Key: (from left) Road name, area, average house price, number of sales

Chorley New Road, Bolton, £1,161,625, 8

Victoria Road, Bolton, £1,110,000, 3

Grange Road, Bromley Cross, £930,250, 4

Princess Road, Lostock, £761,040, 5

Longworth Lane, Egerton, £750,000,

Marshdale Road, Bolton, £736,666, 3

Ladybridge Lane, Bolton, £706,875, 4

Property Solvers co-founder Ruban Selvanayagam said: “To keep the data less skewed, we only ranked the streets that had over three sales.”

“It’s therefore worth noting that, in recent years, a property on Red Bank (BL9) sold for £1,800,000."

The figures also show the number of homes sold in Bolton rose year-on-year, from 3,332 to 3,656.

The largest proportion were in Westhoughton East, where 191 homes changed hands in the period.

Princess Road. Picture Google Maps

Across England, residential property sales increased by 10% to 761,067.

Martin Beck, chief economic adviser of economic forecasting group EY Item Club, said while Government measures such as the stamp duty holiday brought forward house purchases last year, the market could be set to change.

He said: “The prospect of a series of interest rate rises by the Bank of England in 2022 will translate into higher mortgage rates.

“And cost of living pressures faced by households from rising inflation and taxes mean fewer people will be able to afford to borrow the necessary amount they need to buy at higher mortgage rates.”

Grange Road. Google Maps

But Mark Harris, chief executive of mortgage broker SPF Private Clients, said mortgages are still competitively priced, meaning buyers will continue to “take the plunge”.