Area shows fast house price rise
AN area of Rochdale has been revealed as the 10th fastest growing for house prices in Greater Manchester, in sharp contrast to others around it.
New figures from the Office for National Statistics show prices in Milkstone and Deeplish increased by 15 per cent over a year - though it is still the seventh cheapest area to buy a property in the wider region.
Nearby both Balderstone and Kirkholt and Kingsway have witnessed some of the worst house price decreases.
ONS figures have shed light on house and flat prices at ward-level over the last 20 years and reveal massive variation in growth depending on which neighbourhood you live in.
By March 2018, the average property price in Milkstone and Deeplish was £69,500 but by the same point this year, it had risen to £80,000 and on a par with Altrincham for its annual increase.
Without any increase, the ward would have the cheapest prices in all of GM - but the 15pc rise was enough to propel it to just the seven cheapest and leapfrog Central Rochdale in the process.
Other parts of Rochdale did not have as successful a year - with three of the top seven wards for price decreases in GM from the borough.
Balderstone and Kirkholt saw a decrease of 18pc (from £148,000 to £120,995), as did Kingsway (from £130,000 to £107,000).
Slightly further away, prices in Castleton decreased from £128,250 to £110,000.
Allen Brett, Milkstone and Deeplish Councillor and leader of Rochdale Council, said: “The borough of Rochdale as a whole has seen some very encouraging signs in the property market, which is always a good indicator of confidence in an area and over the past 12 months we have had higher house price growth than all but one area of Greater Manchester. Last year the UK Cities House Price Index said Rochdale had one of the fastest growing housing markets in the county so I think the overall picture is encouraging.
“On top of that last year it was reported that our borough had Greater Manchester’s biggest increase in new homes being built – with over 10 times the average regional growth.
“Our significant regeneration plans and inward investment strategies are bringing new opportunities and, despite some areas being slower than others, I am confident that we will see further growth in this area over the next few years.”