Salford house prices dropped more than North West average in November
House prices dropped by 1.7% – more than the average for the North West – in Salford in November, new figures show.
The drop contributes to the longer-term trend, which has seen property prices in the area suffer a 5.2% annual decline.
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Hide AdThe average Salford house price in November was £205,296, Land Registry figures show – a 1.7% decrease on October.
Over the month, the picture was different to that across the North West, where prices decreased 0.9%, and Salford was lower than the 0.8% drop for the UK as a whole.
Over the last year, the average sale price of property in Salford fell by £11,000 – putting the area 33rd among the North West’s 35 local authorities with price data for annual growth.
The highest annual growth in the region was in West Lancashire, where property prices increased on average by 9.6%, to £251,000. At the other end of the scale, properties in Burnley lost 11.1% of their value, giving an average price of £104,000.
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First-time buyers in Salford spent an average of £180,600 on their property – £9,900 less than a year ago, but £33,300 more than in November 2018.
By comparison, former owner-occupiers paid £228,700 on average in November – 26.7% more than first-time buyers.
Property types
Owners of terraced houses saw the biggest fall in property prices in Salford in November – they dropped 2.4% in price, to £182,398 on average. Over the last year, prices dropped by 7.4%.
Among other types of property:
- Detached: down 1.7% monthly; down 5.5% annually; £384,262 average
- Semi-detached: down 2% monthly; down 6.1% annually; £248,649 average
- Flats: down 0.7% monthly; down 2.4% annually; £159,021 average
How do property prices in Salford compare?
Buyers paid 3.8% less than the average price in the North West (£213,000) in November for a property in Salford. Across the North West, property prices are low compared to those across the UK, where the average cost is £285,000.
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Hide AdThe most expensive properties in the North West were in Trafford – £366,000 on average, and 1.8 times the price as in Salford. Trafford properties cost 3.5 times the price as homes in Burnley (£104,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea.
Factfile
Average property price in November
- Salford: £205,296
- The North West:£213,333
- UK: £284,950
Annual change to November
- Salford: -5.2%
- The North West: -2%
- UK: -2.1%
Highest and lowest annual growth in the North West
- West Lancashire: +9.6%
- Burnley: -11.1%