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Heaton and Lostock named most expensive areas to buy a home

New figures reveal that Heaton and Lostock were the most expensive areas in Bolton to buy a house last year.

Zoopla said the data highlights the location of the housing market in England and Wales, with prices often reflecting the housing stock available in an area.

Data from the Office for National Statistics reveals that of the 20 council wards of Bolton, Heaton and Lostock, the highest median house price in 2021 of £283,750.

This was followed by Bradshaw, £225,000, and Bromley Cross, £223,500.

By contrast, the cheapest parts of Bolton to buy property were Halliwell, which had a median house price of £85,000, Great Lever, £100,000 and Rumworth, £105,000.

And the number of homes sold in Bolton has risen from 3,418 in 2020 to 3,833 last year.

Last year, eight per cent of sales – 316 – took place in Heaton and Lostock, making it both the most expensive and busiest area for shoppers.

At the other end of the scale, Rumworth saw just 101 properties sold in 2021, earning it the title of the quietest area in the Bolton property market.

Heaton and Lostock ward councilor Andy Morgan said: ‘It’s no surprise that properties in Heaton and Lostock are so sought after.

“Much of the neighborhood is covered by a conservation area, which means it retains its original character of large properties on large plots and preserves the sense of openness of the neighborhood and gives additional protection to its green spaces and its trees.

“We benefit from a number of amazing golf courses which further enhance the open feel of the area and have excellent road links to the motorway network and Middlebrook.

“At the next local election, the new ward boundaries will come into effect when we look forward to welcoming Chew Moor Village to the ward, another jewel in Bolton’s crown.”

The ONS figures also revealed the trendiest area – the one with the fastest growth in sales – in Bolton.

Of the 18 wards with at least 100 properties sold, Smithills saw 44% more properties sold in 2021 than in 2020, followed by Wesoughton North and Chew Moor (37%) and Breightmet (28%).

The Center for Economics and Business Research said after a period of significant growth during the pandemic, it expects house prices to come under downward pressure over the next year, due to strong increases. mortgage rates.

Karl Thompson, an economist at the think tank, said the biggest price contractions are expected outside London and the South East, leading to greater regional disparities in prices.

The number of residential property sales in England rose by 21% to 821,407 between the end of 2020 and the end of last year.

Grainne Gilmore, head of research at Zoopla, said property values ​​vary widely largely due to differences in housing stock between areas – some neighborhoods will have a higher number of five-bedroom detached homes, while others will house more and smaller apartments. Properties.

But she said the difference between the most expensive and cheapest areas could start to narrow.

She added: “Demand for larger single-family homes during the pandemic has pushed up average home values ​​over the past year, while apartment price growth has lagged.

“But there are signs that demand for city center apartments is picking up, so we could see prices rising faster in that part of the market.”