Bury’s most expensive streets named as houses continue to be 'hot property'

The average UK house price hit a record high of £276,759 at the start of 2022 after increasing by around £24,500 in the past year.

Buyers had to fork out tens of thousands more for houses in Bury last year, according to new figures which also reveal the most expensive areas in the borough.

The pandemic has had a significant impact, preventing house sales during the first lockdown, coupled with stamp duty holidays, and has boosted the housing market across the UK since the world opened up in 2020.

Office for National Statistics data shows the median house price hit £200,000 in Bury in the year to June – an increase of £22,000 compared to the previous 12 months.

House prices were also above pre-pandemic levels, with the average standing at £170,000 in the year to June 2019.

The median – the middle number in a series – is used to ensure the figures are not skewed by extreme highs or lows.

property sold was £733,750">

Tor Avenue, where the average price for a property sold was £733,750

These neighbourhoods in Bury recorded the highest median house prices in the year to June: (Scroll down for break down of streets)

- Summerseat: £310,000 – up from £281,000 in 2019-20

- Sedgley Park: £290,000 – up from £250,000

- Whitefield West and Park Lane: £288,000 – an increase from £265,000

- Higher Woodhill: £282,000 – rising from £205,000

- Prestwich Clough and Rainsough: £266,000 – up from £230,000

Larkfield Close

Most expensive streets in Bury:

Home sales firm Property Solvers tracked average sold data from HM Land Registry since 2016 across Bury postcodes.

Tor Avenue had four properties sold from 2017, coming in at an average of £773,750.

Bolton Road was the second most expensive, with three properties sold for an average of £731,666.

Key (from left) Road name, area, average house price, number of sales:

Tor Avenue, Greenmount, £733,750, 4

Bolton Road, Hawkshaw, £731,666, 3

Moorbottom Road, Holcombe, £665,000, 3

Larkfield Close, Greenmount, £625,000, 4

Redisher Lane, Hawkshaw, £581,333, 3

Vale Coppice, Ramsbottom, £540,400, 5

Greenmount Driver, Greenmount, £530,000, 4

Holcombe Road, Greenmount, £514,000, 3

Heycrofts View, Edenfield, £511,666, 3

Vale Coppice

Property Solvers co-founder Ruban Selvanayagam said: “To keep the data less skewed, we only ranked the streets that had over three sales.”

“It’s therefore worth noting that, in recent years, a property on Red Bank (BL9) sold for £1,800,000 and, at the other end of the market, there were properties that sold for £50,000 and under on Powell House 66-70, Walmersley Road (BL9), Bell Lane (BL9) and Mellor Drive (BL9),” he concludes.

Martin Beck, chief economic adviser of economic forecasting group EY Item Club, said while Government measures such as the stamp duty holiday brought forward house purchases last year, the market could be set to change.

He said: “The prospect of a series of interest rate rises by the Bank of England in 2022 will translate into higher mortgage rates.

“And cost of living pressures faced by households from rising inflation and taxes mean fewer people will be able to afford to borrow the necessary amount they need to buy at higher mortgage rates.”