Salford house prices increased slightly in December

House prices increased slightly, by 0.6%, in Salford in December, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 5.2% annual decline.

The average Salford house price in December was £203,749, Land Registry figures show – a 0.6% increase on November.

Over the month, the picture was different to that across the North West, where prices increased 2.5%, but Salford was above the 0.1% rise 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 31st 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 9.8%, to £253,000. At the other end of the scale, properties in Hyndburn lost 7.8% of their value, giving an average price of £120,000.

First steps on the property ladder

First-time buyers in Salford spent an average of £179,300 on their property – £9,700 less than a year ago, but £32,800 more than in December 2018.

By comparison, former owner-occupiers paid £226,600 on average in December – 26.4% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Salford in December – they increased 1.9%, to £158,126 on average. Over the last year, prices dropped by 2.2%.

Among other types of property:

• Detached: down 0.2% monthly; down 6.2% annually; £378,377 average
• Semi-detached: up 0.3% monthly; down 6% annually; £247,003 average
• Terraced: down 0.1% monthly; down 7.6% annually; £180,652 average

How do property prices in Salford compare?

Buyers paid 6.7% less than the average price in the North West (£218,000) in December 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.

The 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 3.4 times the price as homes in Burnley (£107,000 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 December

• Salford: £203,749
• The North West:£218,353
• UK: £284,691

Annual change to December

• Salford: -5.2%
• The North West: +1.2%
• UK: -1.4%

Highest and lowest annual growth in the North West

• West Lancashire: +9.8%
• Hyndburn: -7.8%