A March 2022 survey from Rightmove has concluded that the average house price in the UK has reached record levels across the country with properties in Salford following the trend.
The data revealed the average price for a home in Salford was £218,404, which is well below this new average, however the area has seen a similar correlation to other areas in the UK with significant rises since 2019.
The Rightmove survey reads: “Overall, sold prices in Salford over the last year were 4% up on the previous year and 17% up on the 2019 peak of £186,815.”
The drastic increase is as a result of the huge contrast between supply and demand in the UK, with almost double the amount of buyers compared to sellers.
For those selling their homes, Rightmove have reported that they are twice as likely to find a buyer in the first week of the property being on sale, compared to 2019.
When comparing the data of the UK and Salford, it shows a similar correlation with the inflation of Salford prices actually steeper than the UK’s average.
The demand for homes with extra space has increased with millions of Brits being forced to work from home over the last two years due to the coronavirus pandemic, with the prices of houses with four or more bedrooms increasing by 3.4% according to Rightmove.
The most expensive property currently listed in Salford is the Wardour Point Penthouse which is on the market for £1,500,000 despite only having three bedrooms and two bathrooms.
In contrast to the least expensive property in Salford is up for just £15,000 on Cross Lane.