Salford house prices increased slightly in September

House prices increased slightly, by 0.1%, in Salford in September, new figures show.

But the rise does not reverse the longer-term trend, which has seen property prices in the area suffer a 0.4% annual decline.

The average Salford house price in September was £213,634, Land Registry figures show – a 0.1% increase on August.

Over the month, the picture was similar to that across the North West, where prices increased 0.5%, and Salford was above the 0.5% drop for the UK as a whole.

Over the last year, the average sale price of property in Salford fell by £840 – putting the area 24th among the North West’s 35 local authorities with price data for annual growth.

The highest annual growth in the region was in Ribble Valley, where property prices increased on average by 7.3%, to £284,000. At the other end of the scale, properties in Burnley lost 10.9% of their value, giving an average price of £105,000.

First steps on the property ladder

First-time buyers in Salford spent an average of £188,160 on their property – £300 less than a year ago, but £46,110 more than in September 2018.

By comparison, former owner-occupiers paid £237,650 on average in September – 26.3% more than first-time buyers.

Property types

Owners of flats saw the biggest rise in property prices in Salford in September – they increased 0.6%, to £167,282 on average. Over the last year, prices rose by 3.8%.

Among other types of property:

• Detached: up 0.2% monthly; down 1% annually; £397,580 average
• Semi-detached: down 0% monthly; down 2% annually; £256,887 average
• Terraced: down 0.2% monthly; down 3% annually; £189,469 average

How do property prices in Salford compare?

Buyers paid 2% less than the average price in the North West (£218,000) in September for a property in Salford. Across the North West, property prices are low compared to those across the UK, where the average cost is £291,000.

The most expensive properties in the North West were in Trafford – £366,000 on average, and 1.7 times the price as in Salford. Trafford properties cost 3.5 times the price as homes in Burnley (£105,000 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 September

• Salford: £213,634
• The North West:£218,013
• UK: £291,385

Annual change to September

• Salford: -0.4%
• The North West: +0.6%
• UK: -0.1%

Highest and lowest annual growth in the North West

• Ribble Valley: +7.3%
• Burnley: -10.9%