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SALFORD HOUSE PRICES TUMBLE
 

Star date: 13th February 2012

SALFORD HOUSE PRICES FALL BY ALMOST 10%

Latest figures show that Salford has had the second highest fall in house prices in Greater Manchester over the last 12 months.

House prices over the 12 months to December 2011 fell by 9.3%, compared to a fall of just 1.3% for the whole of England and Wales over the same period.

For a full breakdown see here…


Top Streets Demolition Higher Broughton Salford Top Streets Demolition Higher Broughton Salford Top Streets Demolition Higher Broughton Salford
click image to enlarge

Despite Media City and the Quays and a million years of the Housing Market Renewal (Pathfinder) scheme which was all supposed to beef up Salford's housing market, the city actually experienced the second highest fall in house prices in the whole of Greater Manchester over the last 12 months.

According to official Land Registry figures, house prices in the city fell by 9.3% over the year to December 2011, second only to Oldham, which experienced a 10.7% drop. The average house price in Salford stood at £95,061 in December 2010 and twelve months later it dropped to £86,227.

Over the 12 month period to December 2011, a terraced house costing £64,810 dropped to £58,787; a semi-detached tumbled from £116,500 to £105,675; a flat worth £101,993 in December 2010 cost £92,515 a year later, and a detached costing £211,945 fell to £192,250.

While Salford experienced a 9.3% decline in house prices, house prices as a whole in England and Wales fell by just 1.3%.

Despite the drop in house prices, with rising unemployment and wages flat lining, there still a huge affordability problem in Salford. So why is Salford Council still tearing down terraced housing in Broughton and building larger houses that no-one can afford, people might ask... 

Ian OBrien wrote
at 09:42:52 on 14 February 2012
@ Mary. You are right, people do not want to live in an area of high crime and high unemployment. People do, however, want to live in their home city - they just want it to be made a decent place to live - they want it policing the way Worsley is, and they want employment. This will not happen by selling off solid homes to developers for the bulldozer, so that John Merry can allow yet more 'apartments' to be built which are only affordable to 'professionals' from the South, working in high jobs in Manchester. Nor will it be helped by the BBC giving a handful of Salford kids apprenticeships in how to hold open a door at media city. Nor will it be achieved by us all drinking Robinsons Barely Water (anybody seen the advert? Buy a product and maybe get a few swings on an old croft!). And you are right Mary, Media City and the so called New Broughton have not contributed to the falling house prices - that was caused by all the little John Merrys in the world, scurrying about and doing grubby deals with big business at the expense of a solid manufacturing base in the country. But, when we are talking about Salford housing and homes generally, there is a lot wrong. Whole neighborhoods have been run down purposely so they could be bulldozed and sold off - the most obvious being the former Langworthy Estate, which Tom Bloxham had his eye on with Urban Splash. Upside down houses?!!? My arse!! The only good thing about that is I am sure he barely broke even on the deal to displace thousands Salford home owners. Look at Seaford Road. Hundreds and hundreds of red brick terraced houses, gone in a blink to cater for students at Salford Uni - not our sons and daughters of course, in a postcode lottery of education, our kids never get a look in. So, we cannot blame Peel or John (Merry with other peoples money)Merry for the house prices falling, though he is a part of the wider problem. But we can blame him and them for the way Salford is being torn apart and sold off piece by piece.
 
confused??? wrote
at 15:14:42 on 13 February 2012
Wasn't the "pathfinder" scheme of demolishing Victorain terraced housing supposed to stop this fluctuation in prices? Or is it a case of when the price of houses is going up it is a "knock on effect of the scheme" and when they are going down "It,s the recession and the housing market"? Yes I am taking the P-ss with that last bit :D
 
Marie Piekarski wrote
at 15:13:44 on 13 February 2012
I totally agree, my thoughts exactly re the disintegration of the area and I have wondered why the area is being sold off for development such as the Salford Market, which was a social hub for many as well as a much needed place to shop... where are those who should be building up and renewing Salford to it's former glory??? does anybody care? I guess those who make the executive decisions on chopping down 200 mature trees (March 2011) along the dual carriageway opposite Salford precinct, and selling off basic amenities are not people who live local anyway so don't even care...
 
Mary wrote
at 15:09:26 on 13 February 2012
"New Broughton" has been here since 2007 and is currently being extended over ex-waste land. Media City has been here since 2010. You can't say they are contributing towards the downturn in house prices. The answer is in the article itself. Noone wants to live in a high crime area with high unemployment that is still rising. The bad reputation of Salford has been tarred even further by the riots. It just isn't a desrable area for people to buy a house, and that will be reflected in the house prices. Its basic economics.
 
Anti-politician wrote
at 12:59:40 on 13 February 2012
Well said Ian . JM should have the decency to answer these very relevant and important questions . Whatever happened to openness, fairness , accountability and the taxpayer's right to know where OUR money is spent , wasted , squandered or bunged ? This council have a history of treating Salford residents with contempt and arrogance , scuttling about in 'secret meetings' due to 'confidentiality' issues. BULLSHIT . WE have a right to know where every penny of OUR money is spent .
 
Ian OBrien wrote
at 11:53:16 on 13 February 2012
"So why is Salford Council still tearing down terraced housing in Broughton and building larger houses that no-one can afford, people might ask... " Indeed, we might well ask. We will not get a coherent answer though, as the Salford Star has proven many times when trying to get some sense out of John Merry. Next to the politicians we see avoiding questions on Question Time, he is a rank, bumbling amateur. I drove by houses in Higher Broughton just yesterday and my American wife wondered why 'such beautiful, solid, Victorian houses' are being left to disintegrate. I could not tell her. I though it had something to do with corruption in local government, with companies development companies and behemoths like Peel holdings snatching huge swathes of Salford because there is no more room for expensive apartments in city centre Manchester. I told her that the same kind of spillage is taking place in neighborhoods all around city centre Manchester and that, as usual, local people, those who have generations of history in the city, are being shunted this way and that. Again. This is only my opinion of course, but if Mr Merry would like to explain why he is so involved with a mammoth private enterprise like Peel (for example) while Salford people are being made homeless, I would love to hear it. In fact, John, if you are out there - how about we sit down and discuss this? After all, you are our employee. When is you surgery? Lets get the Salford Star down to cover it and you can explain to one of the little people what is going on in one of the most historically important cities in the the world. Whenever you are ready mate.
 
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