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SALFORD SEES HIGHEST HOUSE PRICE RISE IN NORTH OF ENGLAND SINCE 2000
 

Star date: 4th July 2018

270% HOUSE PRICE RISE IN SALFORD SINCE 2000 PUTS CITY IN TOP 10 PROPERTY HOTSPOTS OUTSIDE LONDON

Property prices in Salford have risen by 269.5%, from an average 42,271 to 156,190, since the turn of the century, putting the city in the top ten hotspots in the country, outside of London, and top in the north of England.

The research, by online estate agents HouseSimple.com based on Land Registry statistics, shows a tale of two cities in Salford, with booming property prices on one hand and an affordable housing crisis on the other.

Full details here...


Back in the not-too-distant day, the word going round Salford was that you could pick up a house in Langworthy for 5,000 as property prices in the 'undesirable' bits of the city collapsed while permanent economic recession hit hard. But at least a house in the city was affordable.

Then along came Salford City Council, via the Labour Government's Pathfinder scheme, and bulldozed thousands of homes, replacing them with new houses right out of the scope of people's pockets.

One bloke, Jimmy Griffiths, who was forcibly removed from his terraced home in Higher Broughton, told the Salford Star in 2007 that "I can own a third of a terraced house on the site where I was, whereas before I owned all of a terraced house..."

Between 2005 and 2007, house owners were paid between 19,250 and 56,000 for their houses in Higher Broughton by Salford Council. Prices a few years later for new houses in the Kings Square estate built on the site of the demolished streets cost up to 239,950 (for full details see previous Salford Star article click here).

Latest research by online estate agents HouseSimple.com, based on Land Registry statistics, now show that Salford has seen the biggest increase in house prices in the north since 2000, rising from an average rock bottom of 42,271 in 2000, to 156,190 currently; a whopping 269.5% increase.

It puts Salford in the top ten property hotspots in England, outside London, and top in the north for average property prices over the period.

Top place in the country, outside London, was Southend-on-Sea which recorded a 290.9% increase, from 71,879 in 2000 to 280,948 now. Apart from Salford, the only other northern place to figure in the top ten was Sale, which recorded a 266.4% increase in average property prices, from 76,351 in 2000 to 279,776.

"While London is the clear winner when it comes to house price growth since the turn of the century, prices have boomed in many areas outside the capital as these figures attest" says Sam Mitchell, CEO of HouseSimple.com "What's more impressive is that in the middle of this 18-year period, we experienced one of the worst recessions this country has ever seen. It shows the resilience of the UK property market.

"During this period, London property prices stabilised thanks to an inflow of foreign investment, and then started to rise again 18 months after the height of the credit crunch" he adds "However, that wasn't the case across large swathes of the country, where the recovery process was far more protracted.

"Today, the property price growth picture is entirely different" he explains "As London's property market shows signs of running out of steam, we are seeing strong growth in the north of England..."

...And an affordable housing crisis to go with it.


See also related Salford Star articles...

Salford Council Figures Show Half of Salford People Cannot Afford A Low Cost House click here

Pendleton Demolitions see More Social Cleansing click here

Salford Apartments Branded 'Downtown Manchester' Flogged to Knightsbridge Investors click here

No Social Rent Housing Built in Salford click here

over here wrote
at 11:01:25 on 15 July 2018
Fact is, a lot of the properties are being bought up and turned into HMO's albeit registered or not. A house went for well over the asking price on my road, it then got 1 years of works carried out to turn the house into 5 flats all costing 450 a month. Come on the whole house would have cost 450 a month which means the rich landlords also not leaving out the schemes with multiple owners. Residents are being priced out....

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