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SALFORD MOST AFFORDABLE HOUSING CITY IN THE UK

Star date: 31st March 2012

SALFORD'S 32% HOUSE PRICE COLLAPSE

Salford has been named as the most affordable city in the UK, according to new data released by Lloyds TSB.

Average house prices in the city are £102,391, reflecting a 32% fall since 2008, compared to an 18% average fall in the rest of the country. Meanwhile, new figures from Salford Council show that the lowest prices in the city are to be found in Charlestown, where houses can be picked up for under £50,000.

Full story here…

An Affordable Cities Review released today by Lloyds TSB names Salford as the most affordable city in the UK.

According to the review, the average property price in Salford is £102,391, standing at 3.81 times average earnings in the city. This compares to a UK average house price of £173,202.

Truro is the least affordable city in the UK, with property prices averaging £250,489, ten times average earnings. Salford, the review notes, has experienced a 32% fall in house prices since 2008, compared to a UK average 18% fall.

The collapse, unsurprisingly, is put down to hard to acquire mortgages, hard to raise deposits and the gloomy economic scenario. Suren Thiru, housing economist at Lloyds TSB, also notes "a distinct North-South divide to the locations of the most affordable UK cities".

However, a glimpse behind Salford's average house price also shows a massive divide within the city, with areas like Salford Quays and Worsley way above the UK average.

A new Affordable Housing Assessment published last month by Salford City Council, shows the average Salford house price at £107,241, based on 2010 figures, but clearly shows the split in the city in terms of wealth.

Worsley came out top of the league for expensive houses, with an average price of £209,140, followed by Salford Quays (£178,528) and South Swinton (£172,732). The cheapest house prices in Salford were to be found in Charlestown at £48,085, followed by Brindle Heath (£60,542), Lower Kersal (£61,529) and Langworthy (£62,972).

The high prices at the Quays and Worsley, hopelessly skewed the average, with thirteen areas of the city above the average £107,241 price and twenty areas below it.

According to the Lloyds TSB review, the average price of a Salford house has now fallen even lower to £102,391. The economist at Lloyds presents the information as good news, as "an improvement in affordability". But it doesn't really make any difference if everyone's skint anyway, with few jobs around and the cost of living rocketing…

See also Salford Star article - Salford's Economic Gloom - click here

Ian OBrien wrote
at 18:08:29 on 04 April 2012

Hi 'Wrote'. Please accept my apologies for not responding sooner. Like most people I have spent most of the week being rippoed off by Government, both local and central, both left and right. Otherwise I would have come back to you sooner. Regarding your question: " So what would you rather see at Chimney Pot Park Ian? The houses to still be empty or maybe have it turn in to a shanty town like something out of the Wire?" I can only suggest you scroll down and read my comment again. I would also suggest you stop watching The Wire and TV in general, and get out more. If your grasp of day to day life is based upon fictional American TV shows, you are not going to bring anything to the debate. Anyway, read my comment again and then go and read this: http://www.salfordstar.com/article.asp?id=1339 That way I will not have to bother going over it all again because you clearly didn't follow it in the first place. Bye for now.

wrote
at 07:55:48 on 01 April 2012

Why does everyone have this need to attack folk who live in Chimney Pot Park? I know that people are mad that the council failed in there promise to give the homes back to the locals. But at the same time attacking folk because they live in a certain area is madness. The folk their pay council tax, get salford taxis drivers to take them to Deansgate and get there Sunday Times from the local newsagent. So what would you rather see at Chimney Pot Park Ian? The houses to still be empty or maybe have it turn in to a shanty town like something out of the Wire?

don draper wrote
at 07:55:41 on 01 April 2012

These prices are way too high and should fall further to come back into line with the affordability of the mainly low waged population. The other thing is i am assuming these figures apply to Cities omly as Burnley offers houses at 20 K

caroline wrote
at 07:54:17 on 01 April 2012

For once i agree with u .i repect honesty about you life.etc.

Ian OBrien wrote
at 10:02:05 on 31 March 2012

With homes so affordable we will no doubt see a continued influx of treasure hunters from the south, buying properties as investments and hoping one day to make the leap to Manchester proper. In the meantime, like those who already live in upside down houses in Chimney Pot park, they will add nothing economically. They will not hand their coppers over local counters, no. Instead they will continue to help prop up those same giants, Tesco and Wal Mart, who do such damage in all areas of modern life - from food production to workers rights - the same corporations these pseudo intellectuals probably deride at dinner parties. They will not buy locally because they will not leave the house after dark. A gated community is a prison when you live in fear of the outside world. I can only smile at the thought. I wonder what it is like to invest all your money to live in a neighbourhood where you are too afraid to leave the house after tea time? I, personally, have lived in black American ghettos and slept in Paris doorways. I have taken the air at midnight on streets controlled variously by Crips and Bloods toting Tech 9 machine pistols. I have never felt unsafe. The poor do not hide away from life like these interlopers. There is no need. We have nothing to hide from and nothing to fear, except the avarice of the rich. Let them come, I say. Let them come and then at least I can laugh when their silly, cowboy built cookie cutters are falling down around their ears, when their upside down houses are, literally, upside down. I will be laughing when the dealers are back on the corner and when they can't even sell up and break even because ten year old hoodies on BMX bikes aren't a good selling point. Come on in....the water is fine motherfu....rs!!! :)

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