The Cost of Housing in Bolton

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The Cost of Housing in Bolton
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Are you looking to buy or sell a property in Bolton and want to know more about the current property market? Understanding Bolton’s housing cost is crucial for making informed decisions with fluctuating prices and growing demand. So, look no further if you’re looking to list your home, invest in a property, or are simply curious about the current trends. This article will provide a breakdown of house prices by property type and postcode area across Bolton. Plus, there are some changes we could see as the year progresses. Let’s get started…

What is the average property price in Bolton?

According to research by Zoopla, the average house price in Bolton in the last 12 months was £194,061. Meanwhile, Rightmove found the average sale price slightly higher at £209,788. Therefore, the actual average likely falls between the two. Either way, it is significantly less than the national average and homes in neighbouring Manchester, which cost around £50k more. Of course, the cost of housing in Bolton varies by property size.

House prices by property type:

  • Flats – £110,237
  • Terraced – £134,945
  • Semi-detached – £215,483
  • Detached – £391,018

As you can see, small flats are the cheapest option. However, they are generally the least popular and take the longest to sell. By comparison, semi-detached houses are always popular and also relatively affordable. They’re great if you’re seeking a more spacious family home. However, couples and small families could save money by choosing a terraced property instead, which proved a popular choice in 2023.

Either way, Bolton is ideal for first-time buyers and those keen to increase their budget. Better yet, Manchester city centre is just a 30 min drive/ 20 min train ride away for commuters.

Bolton house prices by area

Another thing you’ll need to consider before moving, which also affects the cost of housing in Bolton, is the postcode area. Here are the average prices for each of the town’s neighbourhoods and a little bit about them:

BL1 (Town Centre) – Average property price: £225,421

Home to Bolton’s central shopping district, plus several parks and museums, BL1 is currently being regenerated. In the centre, the focus is mainly on rental properties. But there are other residential areas here, too, like Smithills, Astley Bridge and Halliwell, which have pretty high levels of deprivation. Heaton is a popular area for families in BL1, with mainly terraced homes and surprisingly leafy streets. Further out in Doffcocker, you can find larger houses with gardens. However, terraces are still the most popular option here, costing £145k on average.

BL2 (Centre East) – Average property price: £210,422

Southeast of the town centre, BL2 includes everything from Bolton’s railway station to retail parks and golf clubs. Several green spaces exist here, like Leverhulme Park and Seven Acres Country Park. For those on a tight budget, the cheapest locations are Tonge Moor, Tonge Fold and Breightmet, which has many shops and sports clubs.

Heading towards Bury, the more affluent areas of Ainsworth and Harwood border the West Pennine Hills. Homes here are generally more spacious, with rural backdrops and considerably higher price tags. However, the bestselling homes in BL2 are currently semi-detached properties costing around £213k on average.

BL3 (Centre South) – Average property price: £170,276

BL3 encompasses Deane and Great Lever to the west, covering a large area just south of the centre. Plus, Little Lever and Darcy Lever to the east. This district has a rich industrial past but is now better known for its leisure centre and the University of Bolton. You’ll also find numerous schools, fishing reservoirs and a country park here. The most affordable terraced houses are located on the poorer west side of the postcode. Meanwhile, Little Lever offers semi-detached homes, is closer to the countryside and has lower crime rates, hence its higher prices.

BL4 (South East) – Average property price: £166,995

Another affordable area in Bolton is BL4, comprising Farnworth and Kearsley. The former is home to Royal Bolton Hospital, several supermarkets and Farnworth Central Park. But it doesn’t have the best reputation given its proximity to the town centre and relative deprivation.

Kearsley, on the other hand, has fewer amenities but is situated slightly further out. As such, it is generally deemed the better neighbourhood of the two. With that said, both offer a mix of housing stock, including semi-detached homes for under £200k. Plus, there are excellent transport links, such as easy access to the M61 and direct trains that run into town and south to Manchester.

BL5 (South West) – Average property price: £212,677

The suburbs of BL5 are around 4 miles outside Bolton town centre and were once coal mining hotspots. Now, Westhoughton is a town on its right, with a high street, golf club, leisure centre, and various supermarkets. There are also two train stations, and the M61 passes through the area. Neighbouring Over Hulton borders Farnworth but is considerably greener despite the industrial estate on its eastern edge. In both parts of BL5, you’ll mostly find semi-detached properties, larger detached homes, and plenty of bungalows.

BL6 (North West) – Average property price: £240,861

Spanning an area of around 6 miles, BL6 comprises multiple residential areas. It has some of the most in-demand housing in Bolton and the most northern parts of the postcode border, the West Pennine Moors. This makes it a top choice for those who enjoy spending time outdoors. In particular, Horwich and rural Rivington provide easy access to walking trails and parkland. Horwich also has a golf centre, swimming pool, and plenty of terraced homes.

Closer to town, Lostock and Middlebrook are home to multiple retail and leisure facilities, a football stadium and local train stations. Lostock is popular with families due to its tree-lined streets and semi-detached houses. Yet, it is only 10 minutes from central Bolton.

BL7 (North) – Average property price: £328,376

If you’d prefer to live somewhere nearby but with a rural feel, then BL7 could be perfect. This more affluent postcode is nestled amongst the West Pennine Moors and boasts multiple hiking trails and reservoirs. One even has its sailing club! Property types here are varied, ranging from characterful stone-built terraces to new-build developments. You can also find many semi-detached and detached family houses with drives and gardens.

The only downside is that BL7 has some of Bolton’s most expensive house prices. But if you have the budget and are happy to live a 20 20-minute drive from town, check out BL7’s picturesque villages. These include Belmont, Bromley Cross, Edgeworth, Egerton and Turton.

*Prices based on data from Rightmove – correct as of 9th April 2024

Will house prices increase or decrease in Bolton?

So, what is likely to happen in 2024? Well, the general consensus is that house prices will fall across the UK by 1-3% this year as sales have slowed. This is the opinion held by Zoopla, Rightmove, and Lloyds Bank. Meanwhile, Nationwide suggests prices will remain flat.

Unfortunately, regional forecast data is quite limited. However, the ONS has highlighted that while other North West postcodes have seen little change since 2022, Bolton house prices have risen. In fact, in January 2024, they were up by 5% versus January 2023.

Therefore, it could be argued that since Bolton has performed better than other areas in recent years, prices here may remain steady or potentially even increase as the weather improves and mortgage rates level out towards the middle of the year, especially given the town’s various amenities, surrounding countryside, and proximity to Manchester.

That said, more than 50% fewer homes were sold in Bolton in 2023 than the previous year. This significant drop reflects a nationwide trend largely due to increasing living costs. So until interest rates fall and buying a property becomes more affordable, homeowners may have to wait longer to sell or be willing to accept a lower offer to speed up the process.

How to sell your house fast in Bolton

On that note, if you want to sell a house fast in Bolton with minimal stress, we can help! At We Buy Any Home, our expert cash-buying team can provide a detailed estimate within one working day. And if you decide to go ahead, you can choose a timeframe for the sale that suits you. We can offer a guaranteed sale in as little as seven days! That way, you can wave goodbye to endless viewings and offers that fall through at the last moment. Generate a free cash offer online now to get started.

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