Selling Residential Property in Bolton
Selling your house quickly and for the right price can be a tricky process. There are hundreds of houses for sale in Bolton at any one time, so a thorough marketing strategy and the right asking price are essential, when selling a home. This local property guide will help you get the process off to the best possible start.
The house value falls as illustrated by the low prices for houses for sale in Bolton shortly after the last recession were very steep, and they left many local homeowners in negative equity or facing repossession. Fortunately, things have improved considerably recently, but that doesn’t mean there aren’t some significant challenges to overcome if you need to sell your house fast in Bolton. If you can’t afford to wait for the open market to find the buyer you need, we may be able to buy your house directly from you – allowing you to avoid the complications and expense of the open market completely.
Setting a realistic asking price when selling a house in Bolton
At a time when double-digit house price growth is being experienced in central Manchester, Bolton property values for houses for sale in Bolton have struggled to remain flat at times. During the latter stages of 2012, it became apparent that Bolton was not sharing in the house price recovery that was occurring in many areas of the UK. The Guardian website revealed that property values in Bolton fell by more than six percent during 2012 – the fourth largest fall in the country that year. At the other end of the scale was nearby Salford, which experienced a six per cent jump in the average price of a home. With the cost of the average Bolton house hovering around the £90,000 level, the need to set a realistic and attractive asking price has never been greater.
The Manchester Evening New ran a report that revealed just how precarious the Bolton housing market is. It revealed that house prices in Oldham fell by 2.6 percent in September 2014, while house prices in the city of Manchester rose by 0.6 percent. In Bolton, however, property values fell by 0.5 percent during the same month. Unfortunately, Bolton has one of the most depressed housing markets in the North West of England. This means that buyers will need to be enticed to property viewings with an attractive asking price. Your estate agent will research local sold house prices and set an appropriate initial asking price. However, whether you’re selling privately or you want to better understand your agent’s decision, you can research sold house prices using the free search tool on the Zoopla website. Rightmove also has an abundance of property transaction data available. Official government statistics can be accessed via The Land Registry web portal.
Choosing who will be in charge of marketing your house for sale in Bolton
One of the most critical decisions you will make during the house selling journey will be deciding how to sell your home, and who will take charge of the process. Bolton’s property market is extremely competitive and complex, so you should think long and hard before selling a house without an estate agent. The Manchester Evening News recently revealed that house prices in Bolton fell by six percent during 2012 – when Salford house prices (just a few miles away) were soaring. This situation demonstrates just how changeable the housing market can be in Bolton. In order to maximise the value of your home in such a depressed property market, you will need a comprehensive marketing plan, as well as the right person to see it through to completion.
The easiest – and perhaps safest – way to sell a house is by hiring the services of an online estate agent with many houses for sale in Bolton. Agents, like Tepilo bring a network of contacts, experience, knowledge of the local market and negotiating skills to the table – and these attributes are worth paying for if they ultimately translate to a higher final sale price. You can, of course, sell your property privately, but you will need to be sure you have the time and know-how to succeed in very challenging circumstances.
No matter who takes charge of the marketing process, there are no guarantees on the open market if you need to sell your house quick in Bolton. The marketing, negotiating, property viewings and conveyancing stages of a house sale can take time, and there is always the chance that a collapsed property chain or a buyer’s failure to secure finance could scupper your chances of a quick sale. However, Flying Homes provide an expert property buying service that cuts out the open market altogether. We also represent buyers who have the cash required to complete the purchase of your home in a matter of days at a high per cent of market value. We can help to sell your house, whatever the condition and in a fraction of the time it takes on the open market.
Is there a particularly profitable time of year for house selling in Bolton?
Instead of worrying about delaying your house sale until what is deemed as a more ‘profitable’ time of year, it’s probably best to list your house for sale at a time that suits your circumstances. While some property experts once believed that peaks in demand for houses used to occur during the weeks shortly after the school summer holidays and Christmas, the recent turmoil in the housing market has made it very difficult to predict such patterns. The Home website revealed that July was the busiest month for Bolton house sales in 2014.
You can use the time of year at which you list your home for sale to your advantage by tinkering with your property’s layout and decor. Buyers will have different home buying priorities at different times of the year. Appeal to those shifting priorities by adapting your house selling strategy according to the seasons, and you should be able to increase interest in your home and find a serious buyer more quickly.
What is the best time of year to sell property in Bolton?
There are several individual property markets for houses for sale in Bolton, and they are all experiencing house price growth at differing levels. For instance, homes in the outlying areas of Worsley, Bromley Cross and Darwen have increased in value significantly over the course of the last year. At the opposite end of the house prices scale are homes in areas like Smithills and Little Lever, where property values have been stagnant by comparison. Ascertain what is happening to house prices in your specific area of the town before making any important marketing decisions.
Before you list your home for sale, you should research houses for sale in Bolton, the issues in your local area that have the potential to increase the market value of your home. You could miss out on some crucial hidden value if you aren’t aware of these external issues – although you won’t be able to influence them in any way. For instance, schools with consistently high OFSTED scores are in high demand amongst parents, and homes within the catchment areas of those schools can sell for a significant premium. Other issues that can add value to your home include low crime rates and the quality of local transport links.
There are also some factors that pertain solely to Bolton, yet they have the potential to influence house prices for many years to come. One such factor is the multi-million-pound redevelopment of Bolton Place Market. Other issues include the refurbishment of several disused cotton mills as residential and commercial properties, as well as a major mixed-use development being implemented by Bolton Council.
Buying a property in Bolton? See our local property feeds page for Bolton and the surrounding area.
About Bolton
Located in the huge metropolitan area of Greater Manchester, Bolton is a relatively small town with a huge reputation for innovation and manufacturing. It became an international powerhouse during the Industrial Revolution, when its textile production plants and cotton mills sent cloth and garments around the world. Indeed, there were more than 200 cotton mills in the town during the 1920s, and they employed thousands of local people between them. A process of deindustrialisation followed, however, and by the 1980s all of Bolton’s once prolific cotton mills had closed their doors for the last time.
The Bolton of today is home to more than 56,000 residents, and most of them are now employed in the service sector. There are still some large manufacturing companies and heavy industries based in the area, but most people are employed in retail and office environments. Bolton is still home to Warburtons and the European branch of Reebok.
Bolton has struggled with high levels of employment and a relative dearth of investment in recent years, but several high-profile regeneration schemes are slowly breathing new life into the local economy. Revamps for Church Wharf and the Merchant’s Quarter – as well as the creation of Bolton’s new Innovation Zone – are slowly reshaping the town’s image and economic make up.
Visiting Bolton
While Bolton has a long and illustrious history of cotton and textile production, there is a great deal more to this bustling town in the North West of England. For instance, a trip to the Bank Top Brewery will allow you to tour state-of-the-art beer brewing facilities. Or you can take a giant step back in time in the quaint settlement of Barrow Bridge Village – which hasn’t changed much at all over the course of the last 150 years.
If you prefer to spend your time touring museums and galleries, there are plenty to choose from in Bolton. The Bolton Little Theatre plays host to several lavish stage productions every year, and the Bolton Museum, Aquarium and Archive is home to a series of displays and exhibits from the natural world, and from the world of science and technology. You can explore the artefacts and intricate stonework at Bolton Parish Church, or immerse yourself in the wonders of the Industrial Revolution at the Bolton Steam Museum. A great family day out can be enjoyed at the Doffcocker Nature Reserve – where you can explore wonderfully landscaped gardens and local wildlife.
Bolton house prices have struggled badly over the course of the last eight years or so, but there are signs that a major corner has been turned. But if you need a quick house sale in Bolton, waiting around for the open market to produce a buyer may not be an option. Call us right now for a no-obligation chat about your house selling needs, and we will talk you through your options. Make your home one less of the many houses for sale in Bolton!
