Salford house prices increased in June
House prices increased by 4.2% in Salford in June, new figures show.
The boost contributes to the longer-term trend, which has seen property prices in the area achieve 17.7% annual growth.
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Hide AdThe average Salford house price in June was £198,352.8938, Land Registry figures show – a 4.2% increase on May.
Over the month, the picture was less good than that across the North West, where prices increased 6.7661376%, and Salford underperformed compared to the 4.4989563% rise for the UK as a whole.
Over the last year, the average sale price of property in Salford rose by £30,000 – putting the area 12th among the North West’s 43 local authorities for annual growth.
The best annual growth in the region was in Pendle, where property prices increased on average by 22.8%, to £124,000. At the other end of the scale, properties in Preston gained 7.3% in value, giving an average price of £136,000.
Winners and Losers
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Hide AdOwners of detached houses saw the biggest improvement in property prices in Salford in June – they increased 4.4%, to £366,133.3462 on average. Over the last year, prices rose by 19.6%.
Among other types of property:
Semi-detached: up 4.1% monthly; up 18% annually; £236,976.5169 averageTerraced: up 4.2% monthly; up 18.2% annually; £176,539.6892 averageFlats: up 4.2% monthly; up 17% annually; £158,012.3518 average
First steps on the property ladder
First-time buyers in Salford spent an average of £175,000 on their property – £26,000 more than a year ago, and £51,000 more than in June 2016.
By comparison, former owner-occupiers paid £220,000 on average in June – 25.5% more than first-time buyers.
How do property prices in Salford compare?
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Hide AdBuyers paid 0.9% less than the average price in the North West (£200,000) in June for a property in Salford. Across the North West, property prices are low compared to those across the UK, where the average cost £266,000.
The most expensive properties in the North West were in Trafford – £322,000 on average, and 1.6 times as much as in Salford. Trafford properties cost 3.3 times as much as homes in Burnley (£99,000 average), at the other end of the scale.
The highest property prices across the UK were in Kensington and Chelsea, where the average June sale price of £1.2 million could buy 13 properties in Burnley (average £99,000).
Factfile
Average property price in June
Salford: £198,352.8938The North West:£200,221.9349UK: £265,668.1787
Annual growth to June
Salford: +17.7%The North West: +18.6%UK: +13.2%
Best and worst annual growth in the North West
Pendle: +22.8%Preston: +7.3%