House prices in the North West have more than trebled over the past 20 years
In 1999, the average house price in the North West was just over £50,000. Twenty years later, the typical cost for a house in the region was around £164,000.
House prices in the North West have skyrocketed over the past two decades, new data has shown.
Estate agent Coulters Property reported the findings after conducting research on the changing landscape for first-time buyers.
Coulters also found that whilst property costs have risen sharply; earnings have lagged behind.
In 1999, the average house price in the North West was just over £50,000. Twenty years later, the typical cost for a house in the region was around £164,000.
During the same time period, average salaries rose from £16,000 to just £28,000.
ADVERTISEMENT
Mike Fitzgerald, Coulters Executive Chairman, said the stats reflected modern disparity between personal income and property prices.
“Although being a first-time buyer is exciting, over recent years, the affordability gap has stretched and continued to do so every year, making it difficult to make the first step onto the property ladder,” he commented.
ADVERTISEMENT
“In these uncertain times, these inequalities have been made much more apparent.
“There’s no questioning that wages have increased with the rate of inflation, but have they increased enough? Despite recent schemes such as Help to Buy or part-ownership, house prices are expected to increase, with the possibility of a 15% increase over the next five years or so.”
However, despite the deflating data, Mr. Fitzgerald emphasised that support was available for first-time buyers in Britain.
ADVERTISEMENT
“It’s important to seek all the information you can when considering getting a foot on the property ladder and not let the numbers put you off,” he explained.
“There is so much support and often a price bracket to meet first-time buyers’ needs.”
Mr. Fitzgerald continued: “Capital returns on property are traditionally strong, but like all investments the returns need to be measured over a sufficiently long period of time to flatten out short term spikes and dips in values.
“If done sensibly the outcome and rewards are certainly worth it, not only in financial terms but also in the pleasure that home ownership can bring.”
‘Own a landmark, create a legacy’ – Historic chimney goes on sale for £300k in Bolton
Emily Sergeant
How would you like to live in a big chimney?
I know that might sound like an odd question, and in some respects, it is… but we’re being 100% genuine, as over in Bolton there is currently a historic local landmark on the market with planning permission to make it into your new home, and it’ll only set you back £300,000.
‘Only’ is a bit of a stretch, but when you consider the magnitude of this property, it’s surprising that you’re able to get your hands on it for such a reasonable price.
This is Barrow Bridge Chimney.
Rising above the tranquil stone cottages and wooded valley of the stunning model village that is Barrow Bridge, this striking Victorian chimney stands as a lone sentinel of Bolton’s proud industrial past – and now, with full planning permission secured, estate agents say it offers an ‘extraordinary opportunity’ to reimagine history as a truly one-of-a-kind home.
A historic chimney has gone on sale for £300k in Bolton / Credit: Miller Metcalfe
Originally built in the early 19th century as part of the ‘ambitious’ Dean Mills complex, the chimney once crowned a thriving cotton-spinning hub founded by Thomas Bazley, who was one of the Industrial Revolution’s great innovators.
Long after the mills fell silent though, the chimney endured and remained a local landmark in Smithills visible for miles, and today this relic of the steam age is ready for its next chapter.
Approved plans for the chimney are described as being a ‘bold’ residential conversion that will honour its industrial heritage, while still creating a dramatic modern dwelling like no other in the town.
The planning permission is in place for a two-storey residence of approximately 3,939 sq ft, with a striking contemporary design blended seamlessly with practical living.
The planning permission is in place for a ‘striking’ two-storey residence / Credit: Miller Metcalfe
The approved plans include three spacious bedrooms (two with en-suites), a family bathroom, a downstairs cloakroom, and a study that can easily adapted to a four-bedroom, four-bathroom layout to suit modern family life.
What makes this an even more attractive prospect for future buyers is that the chimney is well-connected to both amenities and nature – with both independent businesses, good local schools, and convenient transport links on the doorstep, as well as parks and tree-lined walks.
“This is your chance to own more than bricks and mortar,” estate agents Miller Metcalfe said.
“It’s a chance to live inside a landmark, to shape its story for future generations, and to call a piece of Bolton’s proud industrial heritage your own. Enquire now to discover how you can transform this iconic chimney into a legacy home that will stand for generations to come.”
Fancy it then? Take a look at the property on Rightmove here.
Featured Image – Miller Metcalfe
Property
Manchester furniture outlet LOFT is hosting a major closing-down sale with up to 70% off
Emily Sergeant
Manchester furniture outlet LOFT is hosting a major closing-down sale with up to 70% off.
Okay, so it’s not technically closing down per se, but the current LOFT premises off Hyde Road near Piccadilly will officially close doors on 30 September, as the business consolidates its operations and relocates to its newly completed headquarters over at Trafford Park.
Unlike a typical closing-down sale, the stock isn’t old or unwanted. Instead, it’s a live snapshot of LOFT’s day-to-day business, and everything must go.
LOFT is known for furnishing properties across the build-to-rent, student accommodation, co-living, private rented, and social housing sectors, and that constant turnover naturally generates surplus – whether it be project overstock, end-of-line pieces or discontinued items making way for new collections.
The move over to Trafford Park is said to be a moment to clear the warehouse ‘completely’ and start the new chapter with a clean slate.
Manchester furniture outlet LOFT is hosting a major closing-down sale with up to 70% off / Credit: Supplied
This means that everything, from sofas and beds, to dining sets, armchairs, and home accessories, must go before the move, with prices already reduced by 50 to 70% below RRP.
Benjamin Hall, who is the Founder and CEO of LOFT, says this is the ‘biggest and best value’ sale the company has ever offered.
He explained: “As we settle into our new home at Trafford Park, we want a completely clean slate. Whether you’re a homeowner after a one-off bargain, or a landlord, agent or developer furnishing multiple units on a budget, there has never been a better time to visit.”
The Manc -
23rd July 2020 
