Thinking about moving to Bolton? Whether you plan to buy or rent, having a general idea of what houses cost in the area will give you enough data to weigh your options before deciding.
In this article, we will cover why houses in Bolton are so expensive and which areas in Bolton offer buyers the most value for money. But before going into more detail on any of the topics above, let’s first take a look at how much you can expect to pay for a property right now.
Current cost of properties in Bolton
Just last year, the average property in Bolton sold for £202,965. The large majority of the sales were terraced properties, which sold for an average of £149,479. Next up in popularity were semi-detached houses, which sold for an average of £207,753. And lastly, the most expensive of them all were detached properties, which fetched an average price of £393,076.
As you can see, house prices in Bolton vary a lot. Although the most significant factor that determines the price you can expect to pay is the property type, other factors that can affect the price you can expect to pay include the location, size, and condition of the property.
Compared to last year, property prices in Bolton have remained level but are expected to rise in due time (as is typically the case with the property market).
Why are houses in Bolton so expensive?
There are many reasons why houses in Bolton are so expensive. One reason is the geographical location of Bolton. The town is not only very close to Manchester (about 15 miles to the Manchester City Centre), but it’s also home to many green areas, which Manchester lacks.
As a result of that, people who want to live a rural lifestyle but don’t want to live too far away from the big city move just outside it – to smaller towns such as Bolton. This further inflates the demand for properties in the Bolton property market, ultimately pushing the prices of properties in the area higher.
Another big reason why house prices in Bolton are so high is that Bolton has been transforming (for the better) over the last decade. Some examples include the infrastructure being improved, green spaces being better maintained, and crime levels being relatively low compared to other districts in Greater Manchester.
With all that in mind, it’s still worth noting that properties in Bolton last year sold for an average of £202,965, which is over £90,000 less than the average property in Manchester. So, even though prices have been going up, they’re still lower than the average property price in Manchester and the UK.
The areas of Bolton that offer the best value for money
Whether you’re on a budget or not, getting good value for money on a property you buy is always something you should look for. That way, when the time comes, you can sell the property and profit from it.
To do that, however, you need to know where to look, as there are quite a few areas in and around Bolton that may seem like they offer good value for money, but they don’t. If you don’t know the area all too well, don’t worry – we do.
Lostock
Situated just 3.5 miles away from the Bolton City Centre, Lostock is not only one of the liveliest residential districts in Bolton but also one that offers the most value for money. Properties in this part of Bolton vary quite greatly depending on the type, condition, and exact location of the property.
Properties in Lostock last year sold for an average of £282,183, which is £80,000 more than the average for Bolton. The reason why the average price is so high is due to the number of detached homes in the area, which sell for an average of just over £390,000.
Now, you might be wondering where the value for money is, considering the high price tag of the average property. It’s largely got to do with the potential that this area has to offer. So, even if you spend this type of money on a property, you can profit nicely from your investment over the long term.
Bromley Cross
Bromley Cross is another fantastic residential area situated around 3 miles to the north of the Bolton City Centre. Last year, properties in this part of town sold for an average of £251,012, which is around £30,000 cheaper than Lostock and around £50,000 more expensive than the Bolton average.
There are many reasons why Bromley Cross offers such high value for money despite the higher-than-average property prices. Some reasons include: it’s an up-and-coming area with plenty of green areas, new infrastructure, schools, amenities, and virtually anything that the typical household may need.
Aside from Lostock and Bromley Cross, other notable areas in the Bolton area that offer great value for money include Chorley, Over Hulton, and Kearsley.
How We Buy Any Home can make your move to Bolton easier
If you’re a property owner planning on moving to Bolton, we can help you sell your house fast. That way, you can unlock the cash value of your current property as quickly as within 7 days and start looking for your new home in Bolton.
We’ve helped thousands of property owners just like you, so if the above is of interest, get in touch with our team. And within just a few minutes, we’ll provide you with a free, no-obligation quote for your property – whether in Bolton or elsewhere in the UK.
