Salford is an attractive place for homebuyers who want a place in Greater Manchester to call their own.
It’s a thriving, modern hub with plenty of green belt land nearby. In fact, it’s one of the UK’s greenest cities, making it the perfect marriage between ‘urban’ and ‘natural’ for its residents.
As with any desirable location in the UK, this means that newly available properties attract a lot of attention in no time. Salford house prices are no exception to the turbulent nature of house prices in the UK, but what makes it such a desirable place to live, and why would new buyers face competition there?
Is Salford a city or town?
Salford is a city in Greater Manchester, though there is some confusion around its status. Strictly speaking, the City of Salford is a metropolitan borough with city status. It’s formed of a collection of towns, villages, and suburbs that includes Walkden, Swinton, and Worsley.
Having only existed in its modern form since 1974, Salford doesn’t have its own single city centre. It was also a subdivision of the historic county of Lancashire, named the Salford Hundred, a status that lasted until the 19th century.
Salford has a storied history that enthusiasts are sure to find fascinating considering the historic contrasts with Manchester, its close neighbour.
What are house prices in Salford like?
Salford enjoys a particularly advantageous position in the housing market as of late.
In 2021, a study conducted in Greater Manchester revealed that the borough has the biggest return on house value in England’s North West. House prices in Salford increased by an average of 47.6 per cent between 2016 and 2021.
This placed Salford third out of 377 UK local authorities.
Information from Zoopla’s house price index shows that over the past 12 months, the average sale price of a property in Salford is £217,703.
This is up from the average sale price for the past five years from its own data, placing average sale price at £191,054.
First-time buyers may find the latest figure encouraging, especially when compared to data from the Barclays First Time Buyer Index which shows that UK first-time buyers paid an average of £281,900 in 2021 for their properties.
These numbers help to paint a healthy picture of Salford house prices whilst also conveying the achievable entry points for first-time buyers and investors looking to make a handsome return on property.
Why buy a house in Salford?
Salford enjoys vibrant urban spaces combined with beautiful waterfronts and energising green areas. Its location gives you the benefit of several towns and their respective centres, as well as Manchester itself which is a short distance away.
Salford is an ideal place for those looking to work in media. The city has become somewhat of a media hub thanks to investments and opportunities such as MediaCityUK, a large mixed-use property development located just beside the Manchester Ship Canal. It sports the Quayside shopping centre as well as media organisation tenants such as the BBC and ITV Studios.
Despite its advanced urban landscape and modern architecture, Salford remains one of the UK’s greenest cities and there are plenty of opportunities to disengage from busy life and recharge. Options like these make it an attractive prospect for first-time moves among younger buyers.
Investors looking to break into property development have the advantage of the University of Salford and the student rental opportunities it offers. Popular student areas like Pendleton, where the university itself is located, are well-connected by public transport and have a range of shops and restaurants, lending plenty of selling points for those looking to rent or buy.
Those looking for peaceful walks and relaxing waterfront views in an energetic, lively city would do well to consider Salford.
What types of properties are available in Salford?
Being all at once a media hub, home to a university, and a modern city with plenty of investment, Salford has a wide offering of properties for those looking to move, no matter their reasons. Groups looking to share a living space – or individuals happy to share their living space with others – can consider HMOs and house shares, and investors can provide plenty of options in this area while seeing a healthy return on their efforts.
First-time buyers also have a wide choice of convenient locations with plenty of fantastic local amenities. Salford’s average house price is on the accessible side of the price spectrum for first-time buyers, making it an overall excellent choice.
When should I buy a house in Salford?
The housing market is still busy following on from the suppression of the pandemic, but according to property experts, things are beginning to slow.
It could be that you’re about to sell a property and want to buy in Salford before things get much more expensive. Alternatively, you may think it safer to hold off and observe before making a commitment.
Figuring out the right time to buy is always a tricky task in property, which is why seeking expert help and advice can make all the difference.
Mistoria Estate Agents Salford
Our expert team has all the local knowledge needed to empower your investment decisions and make your purchase in Salford a great move. Our collective experience gives us the ability to offer advice on all kinds of property sales, from Salford house prices to the opportunity for HMOs.
To find out more about buying homes in Salford, get in touch today and we’ll happily answer your queries.