Properties for sale in Salford saw a price hike of 8% from 2019 despite the ongoing COVID-19 pandemic, according to rightmove.co.uk.
As we approach the tail end of what has, certainly been an unprecedented year, online real estate and property website rightmove.co.uk says the average price for a property in Salford now stands at £192,960, up 8% from last year.
They reported that the majority of sales in the area during 2020 were flats, selling for an average price of £188,049, with terraced properties selling for an average of £165,645 and semi-detached properties fetching £212,225.
Despite remaining well under the UK average property cost of £256,000, the hike sees Salford following a national pattern, with house prices across the country jumping at the fastest rate in four years according to a report from The Guardian.
In terms of renting, the average price in Salford as of October 2020 stood at a cost of £1,037pcm (per calendar month), with houses in the area costing an average of £1,277pcm and flats standing at £1,000pcm.
Despite the ongoing global pandemic, with Salford primarily being put under the heaviest of lockdown restrictions thus far, it does not seem to have hindered the housing market in the area as badly as many may have thought.
Sophie, who works for estate agents Reed Rains in one of their Salford based offices about the current market situation in the area.
She said: “It’s okay actually. It’s not the best that is usually is in November, but it’s not too bad,” she says regarding interest in their local properties.
“It never really falls in Salford”.
With the current lockdown in place, Sophie says Reeds Rains are operating remotely for their few hundred properties in the area, including for viewings, so as to abide by the current national lockdown measures. She said: “The phones aren’t ringing as much, I think that lockdown has affected that”.
Never the less, she claims that property viewing numbers are not decreasing and are more or less remains the same, as they continue to work hard with social distancing in place.
In addition, Sophie and her team have a reason for optimism as we leave national lockdown and enter a tiered system next week, as she claims the initial lockdown lifting in May helped their business in the area boom.
“When we opened in May after the March lockdown we were busier than ever. The last couple of weeks have dropped off however with Christmas coming up, but overall the year has been quite successful, considering during lockdown we were closed for five weeks.”