Brummies, look away…
Bolton has just been named the worst place to buy a property.
Research by online estate agent, eMoov.co.uk, found that Bolton is the only location of some 7,207 in England and Wales that has seen a decrease in the average property value over this time period.
At the start of the new millennium the average house price in the centre of Bolton was £77,202, just under £8,000 less than the UK average. By the end of 2015, property prices in the city fell to a mere £71,000.
The study pointed out that the “a -9% drop is a far cry from the growth change enjoyed across the rest of England and Wales” where homeowners saw an increase of +172% on average since 2000.
eMoov analysed data from the Office of National Statistics charting the median house price across England and Wales by quarter, since Q1 of 2000.
Founder and CEO of eMoov.co.uk, Russell Quirk, said:
“This research will certainly come as bad news for homeowners in the centre of Bolton. Generally getting on the ladder is the safest investment one can make in England and Wales and it would seem that anywhere other than this particular area of Bolton, would have at least seen some sort of return on said investment.
“It doesn’t seem like things will be improving any time soon with low demand for property across Bolton as a whole likely to cool the local market even further. You have to feel for those that have seen the value of their property drop in Bolton, it’s almost the equivalent of everyone in the UK buying a Lottery ticket and you being the only one that doesn’t hit the
Here are the top 10 worst places to have bought a property since 2000
1. Bolton city centre: -9%
2. Leicester city centre: +9%
3. Birmingham, near Aston University: +27%
4. Leeds, Woodhouse: +38%
5. Birmingham (north of Birmingham New Street): +42%
6. Knowsley, near Huyton: +46%
7. Liverpool (south docks): +51%
8. Stockton-on-Tees (Salters Lane): +54%
9. Liverpool city centre: +55%
10. Isles of Scilly: +58%
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